✴️ Bitcoin Cash Cup & Handle Will Lead To $600

2023年9月18日

Hello, hello my dear supporters, followers, readers and mainly, Cryptocurrency traders, how are you feeling in this wonderful day? In this beautiful moment we call, the now!

In this very moment, right now, we are looking at a chart for the BCHUSD trading pair, Bitcoin Cash.

This chart represents what I like to call "financial hieroglyphs", or a foreign language just like computer codes.

If you understand the language, you can read read the codes, it will tell you what the chart is saying but it does not tell you what the future holds. In fact, my deeply beautiful subscriber what the chart is showing is always the past... The future that we so often predict is something that we have to make up, or "reach" based on information extracted from the chart.

The indicators are technical tools that are supposed to smooth the price data, history, and show us things that are not readily available through the price candles themselves. Most of the indicators are exactly the same.

The indicators cannot tell you anything that isn't already in the price data, as the indicators come from price data, so they can never, ever, lead the market. All the indicators by definition then should be called lagging indicators.

The values we use for the indicators are not as important as we might first think, the most important data point is the length of time.

Ok, never mind that because we are here to read the chart, not to explain how they work.

This Bitcoin Cash chart is showing a Cup & Handle pattern, which I ignore 100% of the time. I only point it out because it catches people attention and people like to talk about these patterns... What I see is a break of EMA50 (magenta line on the chart) as resistance and then a test of this level as support. You can find and depict many patterns, but it is all about price action; where is the resistance, where is the support.

5 Consecutive weeks EMA50 and EMA21 hold as support and the sixth week prices go up. This is a strong signal that says the bulls are in control.

As long as BCHUSD trades above 181/192 (EMA50/EMA21), the bulls are in full control.

As long as this condition remains, we expect higher prices... My prediction for this chart based on past history and marketwide action is 580 to 600, can be more but not likely to be less... Remember, this is on a bullish note, if the bulls move ahead.

Can't wait to see it all develop... I hope to be 100% right.

I am hoping that you are blessed with financial success, prosperity, wealth and love.

Thank you for reading my dear friend.
Welcome back!

Thanks a lot for your support.

Namaste.