- 00:03 – Trading Opportunity
- 00:14 – Bitcion Cash/Usd Chart On Binance
- 01:17 – The Bitcoin Cash Technical Analysis
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Hey guys what’s up? It’s Dan here from cryptoCamacho
00:03 – TRADING OPPORTUNITY
Hey, guys I just want to show you a quick trading opportunity right here. I think Bitcoin cash is about to go up. It’s about to jump up to a new high from its recent lows.
00:14 – BITCION CASH/USD CHART ON BINANCE
Okay, guys, I’m looking at the Bitcoin cash USD teather chart on Binance and this is the chart right here. And the reason I think there could be a quick move in the next few days for Bitcoin cash to go up is, because right here…so, let me explain this to you guys alright. So, zooming out I’m using the hour charts here right. And historically we’ve gone way up and there’s been a huge downtrend as there has been with all other cryptocurrencies right. Huge, huge downtrend right. Okay, that is now starting to turn a corner right. You see all of these downtrends, and you see everything keeps going down, keeps going down, but now things are starting to turn just ever so slightly right here, which could indicate a new bull run about to happen right. It’s not a guarantee, but definitely an opportunity for a bull run to start in the other you know if you look at the other cryptocurrencies, you look at the other markets out there, the other coins all the markets are starting to turn and becoming bullish markets going from bear markets to bull markets now.
01:17 – THE BITCOIN CASH TECHNICAL ANALYSIS
So, let’s look at this opportunity that I’m talking about. So, if we zoom into the hour charts right here, we zoom into the hour charts and I’ll just zoom out a little bit. So, as we turn this corner right. You see this little pattern right here. We’re turning the corner, and we’re starting to go up, we’re starting to form a trend up right. So, now if I actually go and draw my lines at the start of this new channel, the start of the new channel is really right where the top levels of resistance start right. So, we can technically say that it started kind of maybe right here, right here, right here potentially right. And so, looking at those tops as the new channel that’s forming, I could then draw my lines against those tops right. Against those top channels of resistance sorry trying to talk and draw these lines at the same time. And we do the same thing on the bottom here, and I might need a zoom out a little here. Let’s do it right here. That wasn’t very good. Let’s see here all right. Okay so, let me adjust this just ever so slightly there we go and that needs to come up like that all right. So, the channel is forming kind of like this right. And it could actually be starting right here opposed to right here, but this will illustrate the point right. So, we see that the corner has been turned from a bear market to a bull market and when that happened, what it did is it created a new high. And the new high that I’m talking about is really just right here right. This is the new high that I was talking about when we turn the corner from a bear market to a bull market right. The next time we see the price goes down the low, the low of support is not quite so low as it was previously, and we see a new high above the previous high right, based on the last level of support and resistance. So, now we’ve seen a drop in the price of Bitcoin cash right here right. Here’s the drop in price chances are it will not fall below this line because that’s where the last level of support was. It’s typically going to fall a bit higher than that. And so, we’re technically like right here right. So, right there is where…okay so bear with me trying to delete this can’t work with Coinigy charts today for some reason. Okay so, that’s where it’s going to go right. Okay so, the next spot that if this is going to bounce to is likely going to be somewhere up here right. It could happen anywhere along this line. it could happen a little bit over here, it could happen here, but chances are it’s going to happen just slightly above this last line as we work our way up through the channel reversing from a bear market to a bull market right. It could actually end up being a lot higher than this right. It could end up being somewhere up here if the bull run you know keeps running up right. But to be conservative it may just run up to the line here, to the next kind of area of resistance up top. And if it does that, you’re looking at from today a percentage of at least 7, 8% and upward you know depending on how high it actually goes. But you can expect somewhere around the 5-10% range just by following this method alone alright. So, I just wanted to give you this quick little tip, quick little opportunity. I think Bitcoin cash is going to be going up at least 5-15% in the next let’s say the next 48-36 or so hours right. The next two to four days it’s going to be going up let’s say that. Hopefully, this is helpful guys? I’m Dan from cryptocamacho.com let’s see how this plays out. Make some money while you can day trade while you can. And if you haven’t done it, get in now guys. You haven’t got any crypto yet, go to Coinbase.com sign up and get some cryptocurrency guys. I’m Dan from cryptocamacho.com good luck.