• Cryptocurrencies: 3234
  • Markets: 20579
  • Market Cap: $195525512364.16
  • 24h Vol: $61836504897.495

BCH : Still another 24% Upside Available

BCH or Bitcoin Cash has a Civil War amongst its hands next Friday with the upcoming Hardfork – emails being released and fundamental news for either one of the upcoming protocols. This along with Bitcoin’s potential fall to $6280 could see it re-set to $555 before pumping to $680.

What does the Technical Analysis Show:

  • BCH is positively correlated to BTC by 0.84 – this means that if Bitcoin goes to $6285 – BCH will go to $555 before revisiting $680.
  • There are a lot of volume gaps between $650-670 – therefore Nouvive Intelligence definitely sees these levels being hit.
  • Volume has been far higher than the 90D Average.
  • The past 6 hours has seen negative sell side volume as a result fo the Bitcoin Dump.
  • The RSI Stochastic is HEAVILY OVERSOLD and recently crossing-over implying that over the next several hours we should see a reversal following BCH dumping to $555.
  • The OBV that shows Open-Interest will bounce off the golden line drawn by Nouvive Intelligence following its hit to $555.
  • The $555 area – why its significant is this is the previous re-fuelling for Longs as well as its just under the 0.618 line – an area of support whenever a coin cools down.

What does Nouvive Intelligence Say? 

  • Following the civil war between BCH protocols – it appears that there will be two coins that come out BCH – with the vast majority of exchanges supporting the hard fork.
  • As a result of the hard fork most traders and long-term investors will enter into a trade to get both the coins before selling both of them off.
  • This will cause a large dump to revisit the $424 area following the Hardfork.

Levels to Watch For:

  • $555 as a new supply zone in the event Bitcoin falls to $6280 – BCH would be looking to refuel in this area
  • $6000 An area of resistance
  • $640 – previous High for the month of November
  • $680 – Volume Gaps have to be filled here

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ViFeed Indicators

Bitcoin (BTC)
$7175.18
0.00 RSI
-0.72%
--
Ethereum (ETH)
$143.7
0.00 RSI
0.04%
--
XRP (XRP)
$0.22
0.00 RSI
0.28%
--
Tether (USDT)
$1
0.00 RSI
0.07%
--
Bitcoin Cash (BCH)
$208.42
0.00 RSI
-0.78%
--
Litecoin (LTC)
$44.25
0.00 RSI
0.13%
--
EOS (EOS)
$2.59
0.00 RSI
-0.64%
--
Binance Coin (BNB)
$14.54
0.00 RSI
-1.88%
--
Bitcoin SV (BSV)
$93.32
0.00 RSI
-0.20%
--
Tezos (XTZ)
$1.66
0.00 RSI
-2.78%
--
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