CRYPTO of the week: BCHUSD - hoping for correction to buy lower
Updated
BCHUSD 1H EUROPE UPDATE - 30/04/2018
bitcoin cash has completed red -1- and red -2- and as long as below 1,487.65 it should trade lower. RSI trendline is broken and we can call cycle from 1,225.55 completed at 1,487.65.
I don't like to sell here and would prefer to position longs at equal leg area 1,138-923.36 for at least a 3 waves bounce or higher.
Invalidation level to the upside is 599.49
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
bitcoin cash has completed red -1- and red -2- and as long as below 1,487.65 it should trade lower. RSI trendline is broken and we can call cycle from 1,225.55 completed at 1,487.65.
I don't like to sell here and would prefer to position longs at equal leg area 1,138-923.36 for at least a 3 waves bounce or higher.
Invalidation level to the upside is 599.49
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
Note
equal leg reached in 15min charts so there could be a reaction soon for a bounce (and change of structure to the downside) or we continue deeper. Still not selling. Update with new chart coming soon (1h and 4h)
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