If you like a flutter, BCH/USD is looking likely that it will make another run. MACD gave me a nudge on the 9th of April and its now trading above EMA 40. I haven’t dipped my toe in yet, just watching from afar. The stock which is Bitcoin Cash looks like it runs every six months or so and the chart is telling me it’s on the blocks coming off a bearish run since late 2024 from a low of $260. I need to see it trade over the 40 for a few more days before I have a splash.
What’s the chart saying
- April 2024 high $714
- Dec 2024 low of $260
- Trading today $320
- The runs cycle is between 20 and 30 days with exhaustion around the 20th day
- The trigger was on the 9th of April when the stock was $269 up $50 so far in 7 days
- if the chart is correct, the stock will run $7 a day until sell trigger which could be a month away
- if it runs for another 13 days= $91 upside 28%, sell trigger may be before or after that
- The last run 4th Nov 2024 to 9th Dec 2024 it ran for 35 days and went from $346 to $631, 82%
- It was above the 40 EMA the entire time but 11 of those days it traded in negative
- Take profit when the stock goes below the 40 EMA or when the MACD triggers sell
Do your own research and good luck! I’m probably trading it anywhere from now till $350 with a stop loss based on how deep I get into the run and I’ll take profit around the exhaustion pattern or on the MACD trigger. Don’t get greedy, gamble responsibly!
