Bitcoin Cash - BCH - The silence before the storm?
Bitcoin Cash - BCHUSD
We can see that Bitcoin Cash has been struggling to regain its bullish momentum, however we find ourselves in a tight trading range between 1500 – 1700.
In this kind of scenario we would expect to see some action within the next few days.
Looking at BCHUSD, a breakout to the topside could take the prices up to the 2000 zone, where we would expect some resistance.
Should prices fall to the bottom we could see a selloff and prices could drop as low as 1200 or even lower.
Short term support is at $1400 – $1500 and resistance is at $1600 – $1700.
We will consider going long should prices drop into the $1400 zone, buy order could be stacked down to $1000 in case of a selloff.
We will consider going long on a breakout trade should prices consolidate above $1700.
Feel free to discuss this trade with me at the best Crypto Trader hangout.
We can see that Bitcoin Cash has been struggling to regain its bullish momentum, however we find ourselves in a tight trading range between 1500 – 1700.
In this kind of scenario we would expect to see some action within the next few days.
Looking at BCHUSD, a breakout to the topside could take the prices up to the 2000 zone, where we would expect some resistance.
Should prices fall to the bottom we could see a selloff and prices could drop as low as 1200 or even lower.
Short term support is at $1400 – $1500 and resistance is at $1600 – $1700.
We will consider going long should prices drop into the $1400 zone, buy order could be stacked down to $1000 in case of a selloff.
We will consider going long on a breakout trade should prices consolidate above $1700.
Feel free to discuss this trade with me at the best Crypto Trader hangout.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.