CRYPTO of the week: BCUSD - bearish sequence to better buy lower
Bitcoin cash broke 29/04/2018 low and therefore ended a cycle from 1,225.55 low. Now, having reached equal leg area, we can have either a bounce from here to completed red -1- (not preferred view) or as per chart, we go beyond 1,263.78 to complete red -3-. 1,225.55 is soft support and a break would open 4h chart equal leg area for execution of the setup. For now, I don't like selling and will look forward more data to refine the structure (that I expect as a motive 5 waves, so look for RSI divergence at some point but later in the week
Invalidation to the downside is 1,574.37
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.
Invalidation to the downside is 1,574.37
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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