CRYPTO of the week: BCHUSD getting closer
Bitcoin cash has ended a sequence from 1,450.91 high at 1,242.17 and from current levels should see a marginal new high in 15min to complete red -4-. From there, I'd like to see a new low with a RSI divergence forming as that would indicate the red -5- is in progress. For now, I see a motive 5 waves in the making in red -3-, so a succession of marginal new low before the final leg.
Equal leg area is 1,138.83-1,056.51 where buyers should appear. However, below 923.26 caution should prevail and structure might need to be reassessed.
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.
Equal leg area is 1,138.83-1,056.51 where buyers should appear. However, below 923.26 caution should prevail and structure might need to be reassessed.
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.
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