Trade BCH in Futures Market at CoinDCX
Issued on: 09th Nov’23
Valid up to 16th Nov’23
Price Update
BCH price at the time of writing (09th Nov’23, 15:32) is $251.2, with a 24-hour trading volume increased by 12% to $200 million. BCH price is up by 3.04% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- BCH is in an upward channel and has surpassed resistance level of $248 and is now heading up. Confirmations include general market bullishness(BTC and US Market), Fib levels(orange lines) and EMAs.
- A Long Trading strategy can be assessed between $248- $252 with an invalidation below $235
- On the upside, one can see a rise of 20-25% toward $264.5 , $274 & $300
- Risk to Reward Ratio: 1:4 (Considering Target 3)
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: BCH is now available in the futures market in both CoinDCX and CoinDCX Pro apps with up to 20x leverage.
Last 30 Days Analysis Summary
| DATE | TOKEN | Strategy (Long/Short) |
TOKEN RETURN% | TOKEN RETURN % (with 8x leverage) |
BTC RETURN% |
| 9-Oct | DOGE | Short | Not Considered | ||
| 9-Oct | OP | Short | 6.65% | 53.20% | -1.04% |
| 11-Oct | MKR | Long | -2.70% | -21.61% | -1.14% |
| 12-Oct | XVG | Short | -4.54% | -36.31% | 0.11% |
| 16-Oct | BCH | Long | 12.54% | 100.32% | 8.15% |
| 17-Oct | JASMY | Short | Not Considered | ||
| 18-Oct | BLZ | Long | 32.54% | 260.32% | 5.76% |
| 19-Oct | LINA | Short | -5.47% | -43.76% | 6.10% |
| 20-Oct | FET | Long | 22.36% | 178.88% | 12.82% |
| 25-Oct | LDO | Long | 7.74% | 61.92% | 1.25% |
| 26-Oct | TOMO | Long | -5.79% | -46.32% | -0.67% |
| 26-Oct | DOGE | Long | -5.89% | -47.12% | -3.12% |
| 30-Oct | GRT | Long | -6.05% | -48.37% | -1.55% |
| 6-Nov | ETH | Long | Trade is live | ||
| AVERAGE RETURN | 4.67% | 37.38% | 2.42% | ||
| SUCCESS RATE | 45.5% |
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
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