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Bitcoin Cash seems to have strong support around the $300 level. The trading range is very narrow and I think depending on the direction of Bitcoin will have a big part of play in the future direction of Bitcoin Cash. For me Bitcoin Cash could go either right now and I have no idea which way it will but I think Bitcoin's price direction will play a big part in Bitcoin Cash's future price direction. 

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Bitcoin Cash is still hovering around the $300 level as Bitcoin has not decided upon its course of direction. It is struggling at times to stay about $300 for any sustained period and I think Bitcoin will need to cross $11k for Bitcoin to cross $350 price level.

There is some strong range bound consolidation taking place but this could be before the price drops further or increases and this is undecided. The only thing that I think increases the odds and probability of the price increasing is the halving event for Bitcoin would could lead to an increase in the price of Bitcoin with 'alt coins' following suit. 

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Bitcoin Cash is up 0.52% at the time of writing this post. It seems to be playing catch up to Litecoin who is this morning's leader. The only significant piece of news was what I posted yesterday. 

Unless the narrative for some of these alt coins strengthens then I do fear for some of them. 

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Bitcoin Cash is up 6% at the time of writing this post and currently trading around the $325 price area.

I think it is going to find some rather tough resistance around the $345 price area as it tries to approach and surpass $350. I am not so sure it will be able to breakthrough unless there is some seriously positive news on not only Bitcoin Cash but the Cryptocurrency asset class in general.

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When I look at the 'daily' on Bitcoin Cash then I do fear another downward move. 

Since its recent high it has seen two sharp moves downwards with consolidation in between the two. I do wonder if that pattern has the potential to repeat itself?

I don't know the answer but this is the risk one faces when trying to trade Bitcoin Cash. 

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Bitcoin Cash is the leading 'Alt Coin' this morning available on IG. 

It seems to be going for the psychological $300 price level.

This news may be of interest to some (below).

The HTC Exodus 1 Now Has Bitcoin Cash Support

https://www.androidheadlines.com/2019/10/the-htc-exodus-1-now-has-bitcoin-cash-support.html

Bitcoin Cash is trading on the 'daily' above its 20, 50 and 100 DMA's. The $322 price level would take it past its 200 DMA. I think that is going to be the short term target for Bitcoin before it even thinks about $380 and above.

1497409129_BitcoinCash_20191029_05_28.png.6943943dd22698734dbd2ac1b4c9e19c.png

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Bitcoin Cash is struggling to stay above $300 price level. 

The Parabolic SAR is signalling bullishness in Bitcoin Cash. 

743329372_BitcoinCash_20191102_18_41.png.b7baea4cf3c9d8c655882c5e3b0593ec.png

It seems to be the top performer today when other assets are resting for the weekend. 

 

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The RSI is approaching 'overbought' levels but it is not quite there yet. 

582343354_BitcoinCash_20191103_07_33.png.d933008241ef16595b846328526eb24b.png

Any major rally in Bitcoin Cash will require RSI levels to stay above the overbought area. 

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Any major move above $300 for Bitcoin Cash could encourage more buying and increase momentum. That is the psychological level I am looking at for the moment. That key price area needs to be breached and Bitcoin Cash needs to stay above it for a reasonable amount of time otherwise the 'Bears' could strike!

There is also a 'halving event' for Bitcoin Cash in around 160 days and this could help any significant rise for Bitcoin Cash. Likewise capital may switch to Bitcoin if it rallies harder and stronger. 

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Bitcoin Cash seems to be leading the way this morning and I had a 'hunch' that this would be one of the next 'alt coins' showing bullishness. They all seem to take it in turns as they are so well behaved! It seems capital (possibly speculative) shifts from one 'alt coin' into another. That is just an assumption from me and I have no evidence that is the case. 

Bitcoin Cash seems to have surpassed $300 and is trading above it for now. It is important that it stays above it even after any corrective drop. 

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$200 will be an important and psychological price area.

If this is breached then Bitcoin Cash could easily go down to the $140 price area. This would be a big blow to the bulls and also damage confidence in the asset. 

Bears will be enjoying the move downwards and should be profiting from the current trend and price action. 

 

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I am expecting Bitcoin Cash to follow Bitcoin and their charts are very similar. I think short term Bitcoin Cash will be eyeing that psychological $200 price level. With enough momentum it may just make it there even if it is a slight touch intraday. 

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If Bitcoin Cash can surpass its 20 DMA on the 'daily' by moving and staying above that important psychological $200 price level then it may begin to see more interest. It needs a move above $230 to really see the speculative capital and trend followers begin jumping in. 

1255203675_BitcoinCash_20191222_18_38.png.5eccbb414df49867160dafa16b82d187.png

The 

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Bitcoin Cash has just led the Crypto charge by going above $200.00 and is up over 7%. 

As I stated on the post above this has not led Bitcoin Cash to move above its 20 DMA on the 'daily'. There could be a surge here and it may be temporary but it could lead to a bullish weekend. 

1700618426_BitcoinCash_20191227_17_57.png.021ac6bfe863e106cbc1c0c33830f8a3.png

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Bitcoin Cash experienced some overnight gapping but it is continuing its upward move this morning and is up around 3% at the time of writing this post. 

It nearly hit $210.00 so it is looking to move upwards and today and tomorrow will be very interesting. 

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Bitcoin Cash hit $216.30 today so is clearly pushing upwards. 

19892257_BitcoinCash_20191229_16_42.png.7499339d9cf5d50a98640b80fc724323.png

If it crosses the $270 price area which is a big ask from the current position but if it did then it could shoot up to the $380 price zone. Again this would change the dynamics of the whole trend for Bitcoin Cash but I cannot see it at the moment. Of course if the price action remains bullish and we see a big move then my view could change but we will have to see. 

I think $300 is a push too far for Bitcoin Cash right now but 2020 may bring positive news which could trigger such a move but it would take some really positive and bullish news on Crypto as a whole for such a move to materialise. 

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Bitcoin Cash has hit $227.80 today. It is clearly beginning to trend upwards and the 'daily' shows it is leading the other Crypto's available on IG.

292460477_BitcoinCash_20200104_11_33.png.62a968af5be056918759add322d578e4.png

It had crossed its 20 and 50 DMA's on the 'daily'. It is touching distance in crossing its 100 DMA on the 'daily'. If it can cross its 200 DMA then I think there could be a potential trend change but for now trend is still downwards and bearish regardless of this recent price action. 

Bitcoin Cash has been making a series of 'Lower Highs' and 'Lower Lows' and until this changes on the longer term horizon then the bearish trend still exists. 

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Bitcoin Cash is still leading the Crypto charge for those Cryptos available on IG's platform. 

It hit $238.20 and is looking on course for $250 price area shorter term if this momentum continues. It has also crossed its 100 DMA too. This is looking very bullish. 

I have a feeling it is going to struggle to break through $260 - $280 price zone but let us see. 

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Bitcoin Cash is the leading Crypto at the moment that is available on IG's platform. It is leading the charge on the upward revival. 

It hit $274.70 today and is a fraction off its 200 DMA. It has surpassed its 20, 50 and 100 DMA's on the 'daily. The 20 and 50 DMA's on the 'daily' are beginning to slope upwards which is a bullish signal. 

526430923_BitcoinCash_20200111_13_52.thumb.png.334faabb17ad0bb1c86b2d519ae6e61b.png

For me once it has crossed its 200 DMA then the price target has to that important and psychological $300 price area. 

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Have a look at my post on December 29th 2019 (above).

Now look at the 'blue rectangle' (below):

1170197692_BitcoinCash_20200115_18_50.thumb.png.6be37b769986e61e5283c956d339ed64.png

Bitcoin Cash has performed like a superstar over the past few days. It is the best performing Crypto available on IG. It is currently trading at $368.20 and surely will try for $380 very soon. 

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Bitcoin Cash has hit $386.20 overnight and is now clearly on course to hit that psychological $400 price area. We are seeing a bullish and sharp breakout. The corrections along the way will be just as sharp so stop loss management will be vitally important. 

If Bitcoin Cash can break $400 to $500 price area then we could see a longer term trend change in play. For me it will have to break around the $635 to $645 price area for that to be confirmed on the 'daily' but it is heading in that direction for the medium term. 

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There has been a big price move in Bitcoin Cash as I witnessed it hitting $349.40 on IG. It is currently just shy of this and up over 10%. 

I have eluded this before but during a bull market, Cryptocurrencies, seem to be produce large moves over the weekend as other more traditional assets/markets are closed. Now we are not quite in a bull market yet and we will not know if this was the start of the bull market until afterwards once confirmed but Bitcoin Cash is looking like it wants to break through $350 and then $400 but I think it is going to be difficult. 

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Bitcoin Cash seems to be leading the current bullish Crypto charge. It seems $450 is on the cards and $500 could be pretty soon. 

The 'Parabolic SAR' is showing bullishness as highlighted below:

1943929037_BitcoinCash_20200205_19_20.thumb.png.812750ab8d5ee5f623a31a6a5cfebbf6.png

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So some of you may be wondering why is Bitcoin Cash looking more bullish than the other Cryptocurrencies available on IG?

I have mentioned this before in previous posts (not sure which thread) but some of you may not be aware that Bitcoin Cash is 'halving' in April a month before Bitcoin itself. If memory serves me correct it is around 8th April 2020 but please do not quote me on that.  

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Bitcoin Cash hit $481.80 overnight. It has surpassed my $450 price target and it is now on course to surpass my $500 price target which is will be a key psychological price level to cross. 

One should forget their personal opinions, personal emotions and put their ego and personal thoughts to one side and just merely look at the price action and make trading decisions based on the price action rather than whether they think this is junk, garbage, going to crash, going to zero, etc. 

The returns from the start of 2020 on this specific asset beat most other tradable assets in the world. 

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Thanks for that TrendFollower. Do you use an underlying reference for your price targets on crypto e.g. Fibonacci, chart history?

I just bought into Bitcoin today, as I'm thinking that the corona virus will continue to help drive the price upward.

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