Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH): New World Order

April 3, 2019 / by Bill Noble

In our view, navigating crypto is about evaluating all the big coins together.

Starting with Bitcoin (BTC), support is at $4,880 (Figure 1). If that level holds as support or that level is never tested, Bitcoin on BitMEX can move to a Gann zone between $5,800 and $5,900.  We do expect Bitcoin (BTC) to consolidate, but we are not sure if the consolidation occurs near $4,800 or $5,800.

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The chart of Bitcoin Cash (BCH) and Ethereum (ETH) argue for more upside.

In Ethereum (ETH) on BitMEX, $166 has flipped from resistance to support (Figure 2). If $166 continues to act as support, it is possible that Ethereum (ETH) could move to Gann points at either $182 or $204. That move could start in the next three days.

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Bitcoin Cash (BCH) still has room to move higher. Bitcoin Cash (BCH) has entered the gap from the hard fork last year. The bottom of the gap is $274. If that acts as support, the minimum upside target is the top of the gap at $382 (Figure 3).

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Bottom Line: Crypto trades like everybody missed the rally. That leaves room for a potential second round of upside led by Ethereum (ETH) and Bitcoin Cash (BCH). Consolidation should then follow.

This move is what is the Cyrpto.IQ Trading Desk has been waiting for. It’s what we have all been waiting for.

Join me there.