Bitcoin Cash Price Analysis 6–3–2018

Picture Credit: BTCManager

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Did a price analysis on Bitcoin Cash on June 3rd, 2018, and wanted to push that out for archival reasons and also so that people can scroll back in the future and see the updates that I have made on Bitcoin.

Disclaimer: This is not financial/investment advice of any sort, this is merely just information for you to use.

Please note that this analysis was originally curated June 3rd, 2018, so this is the full, non-redacted version. Any charts+statements in the present tense were made at that point in time.

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Did a price analysis on Bitcoin on June 4th, 2018, and wanted to push that out for archival reasons and also so that people can scroll back in the future and see the updates that I have made on Bitcoin.

Disclaimer: This is not financial/investment advice of any sort, this is merely just information for you to use.

Please note that this analysis was originally curated June 3rd, 2018, so this is the full, non-redacted version. Any charts+statements in the present tense were made at that point in time.

Introduction

I’m about to post the first chart, but before I get into this — I don’t care about anyone’s feelings about the personality of the folks that run Bitcoin Cash.

For the purposes of clarification, I will call these protocols by their listed names on coinmarketcap, Coinbase, and other exchanges which are Bitcoin and Bitcoin Cash, respectively.

Trendbreak on the $BCH / $BTC 1D got my attention for sure.
Another look from a zoomed out view of $BCH/$BTC (1D TF)

Potential Bull Flag?

We discussed bull flags as well. This is a continuation/consolidation pattern. Which means that the price is designed to continue upward upon completion of this pattern.

Example of what it looks like
A solid picture that I found on trading the bull flag as well

Potential Alternative Chart Pattern to Describe Bitcoin Cash’s Most Recent Price Movement on the $BTC Pairing

As you can see above, I was mulling over whether this could potentially be a ‘measured move upward’ pattern (as described by legendary trader, Thomas Bulkowski)

The first move upward before the consolidation is a lot larger than the second one. Usually the first move is smaller than the second one.

However, this is all hypothetical anyway, and different shit happens in diff situations. Let’s look at more substantive stuff and get our feet wet.

Gann Square

Ambitious/Bullish on this.

Looking at a Strong Resistance Point on the $BTC Pairing

Appears that $BCH has to break through this resistance point on the $BTC pairing first though (1D TF)

Momentum Indicators (RSI)

Relative Strength Index (RSI)

RSI BCH/BTC (1D TF)

Other indicators very similar to what we saw on Bitcoin — MACD + Stoch RSI soaring as well.

Rate of Change (RoC) of the Relative Strength Index (RSI)

Bitcoin Cash Volatility on the $BTC Pairing

Average True Range (ATR)

This Average True Range is what attracted me to a position in $BCH (remember, this is +/-, price going up/down doesn’t mean anything. It’s the delta that affects values)

Summary/Conclusion of Analysis

Okay, so, to summarize and to bring all of this stuff together — I felt like $BCH would be a much better investment because it has way more volatility, which means that it stands more to gain from going on a run.

We already calculated the maximum upside for Bitcoin is more than likely 5.5% in the short-term.

However, this upside is a LOT greater for $BCH. Let’s do that ATR calculation.

Volatility on Bitcoin Cash = 11.9%

Yeah, I spent a lot of time covering these two coins — but I feel that it was worth it to show folks what a thorough analysis is as well teach some lessons on certain concepts in TA + help folks undertand the process that I personally use.

Lots of folks talk about “sticking your neck on the line” or “being vague” about projections. So, I’m going to be very straightforward here on what I feel in conclusion.

I think that $BCH will reach its upside price of $1,752 before it turns down. If you want to know why, scroll up.

Disclaimer:

I did place an investment in Bitcoin Cash.

The investment was placed earlier yesterday at June 3rd, 2018 and the price that I invested in was $1133 on the mark.

I will remain transparent with any alterations that I make to said investment (whether increasing/decreasing/remaining the same).

I am not paid/sponsored by Bitcoin Cash, none of the analysis made was an endorsement of Bitcoin Cash or even a recommendation to buy Bitcoin Cash. It was also not financial advice. In addition, if you do decide to buy Bitcoin Cash based on what I posted above, please acknowledge that this is entirely your own decision to make and that you are not doing so based on what I am telling you.

Once again, I am not a registered financial advisor and therefore, not qualified/permitted under SEC law to give specific investment advice. Thus, the above statements should be considered investment information.

(Posted Twice So That Everyone Receives This Notification in its Full Unredacted/Unedited Version)

The above message was created for compliance purposes and to make it clear that, by remaining a member of this Telegram channel (t.me/CoinEducation) you hereby release its owner(s) of any and all liabilities and/or losses that may result from you mirroring the investment decisions of its content creators.

Please remain aware that there are not guarantees in investment (unless we’re talking Treasury bonds), and that you should never risk money that you are not willing to lose entirely

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