BCHUSD | Wave analysis of the ticker

As I wrote 5 months ago, Bitcoin Cash is falling into the $60-70 area (https://t.me/eightyninewaves/3053). I put the limits there, and I think in the next month or two the position will be taken.

Stops will be at $42 for these entrances, I plan to enter at 2%-4% of the capital, so in case of stop-losses to lose no more than 1.5% of funds.

Three months ago I advised you to wait for the target area in the blue rectangle on the daily chart (https://t.me/eightyninewaves/3053). That’s where the market has almost reached. Almost, but it’s not in the buy zone, yet. We have to wait…

Wait for the completion of the ending diagonal in the wave [5] of “v” of (c) of [y] of “2”. And enter from the area of $50-60 per BCH and maybe even with a stop at $34. I will write more about all this here.

Almost a year ago, I predicted the fall of Bitcoin (https://t.me/eightyninewaves/2447). Since then, the coin has fallen by 85%, but has not updated the 2018 low. And now, who remembers the forecast, touched by the question, is it time to buy BCH?

Personally, I started doing it a month ago, and now I have an average input of 105. I plan to continue averaging a coin up to 50 dollars per piece. The planned entry volume is about 2% of the portfolio. The expected return on the horizon of 3-5 years is from 60%.

Attention! The idea is not suitable for trading, only for long-term investments without borrowed funds (margin).

#BCHUSD. If you carefully count the waves, then at small degrees something similar to the ending diagonal is formed. High degrees are in the @eightyninewaves channel.

I haven’t looked for the coin for 9 months, but despite this, my scenario hasn’t lost its relevance there (https://t.me/eightyninewaves/2023). It just comes true. And I’m afraid it will continue to come true in the near future. That is, there will be a movement of the cost of the cache in the area below the lows of 2018.

Therefore, I decided to update the coin. For those who are stuck in it and other old altos from 2017. Will you be able to sit out one more crypto winter?.. The chances of it are now greater than ever.

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#89waves

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#BCH #BCHUSD TF: 1D

As expected in one of the options earlier, an upward impulse was formed on hour’s TF (look update from December, 20 in my telegram channel). Then I recommended not to trade cash until it appears and rolls back to it. The rollback happened, but now I just recommend not to trade cash. The reason is the very weak dynamics of this impulse. It does not look like a initial wave in an upward direction. Rather, on some part of the zigzag in the wave [x].

Summary: I still recommend being out of the market for old altcoins. If you are stuck in them in holds since 2017, then look for where go out in breakeven and switch to bitcoin or other interesting coins from the point of view of trading.

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#89waves

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#BCH #BCHUSD TF: 1D

Timeframe: 1D

The downward calculation of BCH has not gone anywhere, the sideways trend continues (look update from November, 20 in my telegram channel). The skepticism is also added by the fact that the asset has been growing in a zigzag since the end of 2018. You can label the initials, but it will be just a stretch. An adequate growth option is an exit from the triangle 4 up, but there are no waves [i]-[ii] of 5 yet, what is the point of touching the coin?

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#89waves

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Timeframe: 4H

I can label, of course, initials with the combination (ii), but… Why? It’s better just not to buy altcoins, as I bequeathed in the last update.

Let me remind you that I do not see any prospects for the market of old alts.

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#89waves

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Timeframe: 4H

Without the slightest changes in a month (look update from September, 20 in my telegram channel). The main scenario is a downward one. I don’t know what else to write to you…

Don’t buy altcoins!

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#89waves

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Timeframe: 1D

Downward expectations from last month were confirmed. Now everything that I wrote earlier is relevant. Including yesterday on litecoin – I do not believe that now the old alts will pump.

I’m not going to trade such altcoins, I just update the asset as required by the update schedule on the 20th of each month.

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#89waves

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Timeframe: 1D

The upward forecast from last month is fulfilled (look update from July, 20 in my telegram channel). But I have not traded the coin into a long and do not plan to trade. There is a feeling that in the current altseason no one will pump old altcoins. In any case, not every of them. Too many people have been sitting in the holds since 2018 – too heavy ballast for a rocket to take off.

From the point of view of WA, there is also nothing encouraging so far – the movement on the daily charts goes sideways in zigzags. Most likely it is a triangle. Triangle in [x] with bottom’s update.

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#89waves

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Timeframe: 4H

Zigzags continue to form in both directions, nothing new (look update from June, 20 in my telegram channel). While I’m not really expecting any large movements, I’m not going to enter a pose.

I recommend that you wait and watch patiently and focus on other markets. Cryptos are not at all interesting for speculation in comparison with forex and commodities.

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#89waves

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Timeframe: 1H

Quite expectedly the triangle x / b stretched for another month (look update from May, 20 in my telegram channel). Now again there is a chance to get out of it up to the area of 300 or a little lower (or maybe much higher).

Three exemplary schemes, which now impress me the most, added to the chart. Still without a speculative position, but bought a little for investment purposes – one of the coins that did not show strength in the bull market. If it gives 200 and the ending diagonal, then purchases will already be with the shoulder. While resting… :o)

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#89waves

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Timeframe: 1H

Almost everything that I said earlier is actual when it comes to high degrees. As for small degrees, then everything is pretty straightforward and all options are so far directed upwards. I think the growth will continue to about $290.

If you really want to trade, then you can try to trade the triangle b / x . I marked the stop for you in red. I’m out of position.

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#89waves

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Timeframe: 1D, 45M

Plan updated a month ago completely worked out at small degrees (look update from March, 20 in my telegram channel). Now here practically everything that was said yesterday about litecoin is relevant. There are many options at large degrees: initials, triangle 4 , double zigzag 2 , in which the wave [y] or (d) of [x] is forming. On small TFs, nothing is better: there are also many options to go in any direction; on the second chart, I showed two schemes out of four identified above.

To summarize, there is no certainty on any of the timeframes, but rather sideways or down. I practically do not consider the option up, but it is theoretically possible within the framework of the waves 1 – 2 -[i]-[ii].

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#89waves

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Timeframe: 1D, 1H

I added to the chart the three most likely traffic patterns at the moment. I consider the main one to be a decrease with the renewal of the bottom of 2018.

On small TFs, I expect the upward trend to continue to the area indicated in the second picture in blue, until the lower orange level is broken. Next, I plan to take a short with a stop already on the upper orange level.

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#89waves

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Timeframe: 1H

The asset goes according to the previously indicated plan (look update from January, 19 in my telegram channel). Now the wave [2] is developing in the form of a regular zigzag. In this regard, longs look good with limit orders from the area of ​​red fibs and buy-stop on the breakdown of the green channel.

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#89waves

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Timeframe: 2H

We strictly follow the orange brush, which I painted in the cryptocurrency market longread. To say about that the forecast a month ago is completely fulfilled, I think it’s also not worth it (look update from Decmber, 19 in my telegram channel).

Now the wave (4) is developing with a target according to the guidelines about ​​the turquoise (blue) area. According to the rules, it has already completed the minimum target, so you can try a small long on the breakdown of the blue channel up. Further, after the completion of the wave (4), the uptrend will continue by the wave (5) of [1]
#89waves

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Timeframe: 3H

As a month earlier, I am waiting for the breakdown of the red channel up. In this case the red level from below should not be broken. Until then, there is nothing to do in the market, as I think. Details are in the longread “Cryptocurrency market review” in my telegram channel
#89waves

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