Prelude:
  • Bitcoin has grown almost 200% in 25 days (Here is the chart and analysis) without a correction. The last time it did this was when it cut $1000 mark. What happens next? (It has begun as I write this)
  • 228,000 unconfirmed transactions despite having 90% Hash power. Now if the hash power moves to a certain other "trash" coin, how do you take profits or cut your losses if you can't move your coins to an exchange?
  • ETH, the next best thing is bogged down due to millions of cute kittens.
  • Where is the EXIT? (Hint: #1 & #2 cryptos are clogged, #3 could be the answer)
Thanks to everyone for reading and paying for content in my first post ever on yours.org. I'm very grateful for your support. I do hope you found it useful. Please excuse any typos or inconsistencies in my articles, I appreciate any constructive feedback .
Quick Chart Summary
Disclaimer: Please do your due diligence before investing in cryptos. Trading is much more complicated than investing and my observations are more tailored for the latter with a mid to long term view. In the market you are right until you are wrong. Have a good strategy in place and protect your capital always.
After the recent extraordinary ATH (All time high) on Nov 12/13, Bitcoin Cash moved into a long correction with the ABCDE waves on the 4 Hour chart above. That is usually followed by a bullish move. You can observe in the above chart that a channel has appeared in which BCH is currently moving.
We should have strong support at the lower channel at around $1160 and the goal is reaching the upper channel boundary at $1576+ in a bullish trend. After that, BCH needs to be able to break out of the channel for a strong bull run. (Update: We almost broke through just now, but it ain't over yet)
(more charts and possible scenarios below and behind the paywall)
Why Technical Analysis?
Most new investors in crypto are intimidated by Technical Analysis (Charts), but it is THE most important tool in addition to having a vision or conviction in a particular cryptocurrency. A new investor or even some of the experienced ones shy away from the complexity of technical analysis (TA) and invest based on News, Fundamentals and emotion.
I was fortunate enough to spend 100s of hours understanding them with the help of top analysts like RiversAndMountains. TA complimented my research in the fundamentals of crypto currencies along with understanding the history of currency itself.
Show me the money!
I made a separate post about my introduction into crypto world and then the eventual move from Bitcoin to Bitcoin Cash. Do check it out.
The payoff for the time spent on all this research was great for me personally as I started investing in Bitcoin Cash when it was $330. In just a few days, the price just exploded bringing me my first major success in crypto investments.
Sharing the wealth
I always wanted to help others to invest in cryptos and make them part of this revolution. So armed with the results of my investment, I spoke to many of my friends and family. Most of them were skeptical despite the results but a few got on board quickly.
I got an opportunity to hand hold and coach them to build their portfolios in crypto (most of which was in BCH). Soon I got an opportunity to present at a blockchain conference focusing on the first time investors in crypto
Let's get to work on the TA
Before we jump into the detailed charts, here is a quick look at the fundamentals (facts) of Bitcoin Cash, an undervalued bluechip crypto currency!
  1. It is the 3rd in Market cap among all the cryptos
  2. Highest dollar price after Bitcoin
  3. Carries the brand of Bitcoin as the first major hard fork
  4. Wide open freeways (Big blocks) instead of gold plated wall street (Small Blocks)
  5. Much lower price entry compared to BTC (Just 10% now)

and the speculation
  • The adjustment has already happened and the difficulty has gone up significantly for bitcoin
  • Bitstamp has announced BCHUSD and BCHEUR pairs. No more tether worries.
  • BitFinex and Bitstamp did a u-turn and renamed BCH as "Bitcoin Cash"
  • A new exchange in UK is offering only BCH pairs to buy/sell other currencies

Here is another detail and 1 elliott pattern. For the past 2 days BCH was well within the boundaries and trying to breakthrough and retracing slowly to the lower support at $1170+
My observation is that there is strong support at the lower boundary of the channel and as I write this, there was a violent bounce up all the way to $1570 .
More details are available behind the paywall on support levels, profit zones. I also included multiple charts covering possible bullish (and bearish) scenarios including BTC reference chart , which hopefully will be worth your time and BCH.
I'm extremely grateful to all the people who liked and paid for my previous article.
Note that I made sure the above 2 chart images are good and simple enough for you to get a broader idea of the most likely scenario for Bitcoin Cash price movement without having to pay for more content.
Why Paywall?
I enjoy sharing knowledge in crypto investments and the little I know of in charting. I have several strong reasons to put the most valuable content behind a paywall , the least of which is making money on these articles as my investment in BCH itself is enough (and growing as I write)
I felt very happy tipping top analysts like RiversAndMontains (below is the recent one) whenever I sold some BCH and made profit. I believe that if we share and reward people who helped us, the world will be a better place.
  1. I strongly believe that showing our appreciation through a BCH tip encourages our advisors/analysts.
  2. You will realize the power of Bitcoin cash when you make a small micro transaction and hopefully invest more money and time in it.
  3. A tip really makes the dream come true for me of getting paid to write good content, I loved using yours.org and BCH to tip authors the first time in September. That was when it dawned on me the potential of Bitcoin Cash and this platform.
  4. This is the best use case to show off Bitcoin cash (to the world) - Readers paying authors using a simple and efficient payment method made possible by Bitcoin cash
  5. Instead of talking a lot like the core shills/trolls, I hope to prove to everyone by writing about Bitcoin Cash, then readers paying in Bitcoin Cash to learn to invest in Bitcoin Cash which will help them to earn more Bitcoin Cash. A Win Win for everyone - This is my philosophy behind Bitcoin Cash!
I already proved my point with the below article and will continue to provide valuable content to investors in Cryptos.
No Value No Money - If you believe that the content behind the paywall has not provided value or learning to you even if this prediction is wrong, please send a PM (@imkeshav in twitter) with proof of payment and the reason, I will be happy to refund your payment.
What is behind the Paywall?
  • I will add more details to the above chart on channel supports with possible outcomes and numbers for bullish and bearish trends.
  • There will be more visual queues to make it easy to understand the chart and the possible mid term to long term price action of Bitcoin Cash.
  • I will also validate the above chart and the bullish trend using Elliott waves in addition to the channel support chart that I shared briefly above.
  • I will update frequently on the latest price action of BCH to confirm the trend OR if it appears to go against the trend
  • I will also add a brand new chart of BCHBTC to see if there is anything we can learn there.
 

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Comments
  spent 20.0¢
Thanks for your insights. I personally was never a believer in TA but this looks interesting indeed.
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   11mo ago
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  spent 20.0¢
Great Post! I appreciate your sincerity and all the effort you put into this analysis. I'm definitely in this for the long run so hope you are right. Eager to see how it plays out compared to your charts. Thanks.
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   11mo ago
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  spent 20.0¢
@codemojo Thank you for reading. I use the following for investment
  • Understand the market, scope and future. Helps build conviction and vision
  • Fundamentals of a crypto
  • Technical Analysis for short term to mid term and to enter at dips
  • Strategy - % of wealth, 80:20 ratio
  • News
  • Social Media
TA especially helps you be strong and less influenced by fear or greed when the price is tanking or going high
@cain Thank you for the kind words. Good for you that you are in for the long haul, I believe in the vision of BCH. We are the few who actually used crypro to transact in real world and therefore have a better perspective which helps through bad times.
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   11mo ago
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