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BCH: Trade of the week

Bitcoin Cash: Trade of the week based on Fundamentals and Technical Analysis 

Bitcoin Cash has take a dive over the past couple of weeks, seeking a 25% decrease as a result of the Big Daddy, Bitcoin crashing during the same period of time. 

Most of those who were investing in 2017, saw that anytime there is a hard fork, we would see a 10% bump in the coin, irregardless of what it was. 

This is because when there is a hard fork, you get both of the coins.

This hardfork is set to occur during November 2018. 

This doesn’t mean the Prudent investor cannot take advantage now. 

What will Occur?

 

Bitcoin Cash appears to be in a fractal that we saw earlier this week. This can be seen in the chart below. 

Based on both the Fibonacci lines and Market sentiment, this could lead to an Unleveraged goal of 7.28% or with a 10X Leverage 70%. 

The RSI Stochastic will reset to the trend line that was first established on the 18th of this month, following that we will see a bullish spike up to the 0.786. 

Moreover, BCH has been using the 0,5 Fib line as support for the past several days. 

Nouvive issues a BUY for BCH.

If You want to buy: Enter a position at just below $543.36 with a take profit at below $582.82. Increasing Stop Losses as when in Profit. 

The first stop loss should be at $442.39 

This position will only occur if there is a positive bias towards Bitcoin. 

 

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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438

ViFeed Indicators

Bitcoin (BTC)
$5457.34
52.00 RSI
-2.54%
Hold
Ethereum (ETH)
$164.36
49.00 RSI
-3.39%
Hold
XRP (XRP)
$0.3
47.00 RSI
-6.01%
Hold
Bitcoin Cash (BCH)
$279.1
68.00 RSI
-3.22%
Hold
EOS (EOS)
$4.79
22.00 RSI
-7.14%
Buy
Litecoin (LTC)
$73.1
50.00 RSI
-0.97%
Hold
Binance Coin (BNB)
$23.27
66.00 RSI
3.54%
Hold
Tether (USDT)
$1.01
8.00 RSI
-0.26%
Buy
Stellar (XLM)
$0.1
58.00 RSI
-4.81%
Hold
Cardano (ADA)
$0.07
33.00 RSI
-3.92%
Buy
Whats Your Bias this Week?