BCHBTC could be setting up for a viable long opportunity right now with a possible continuation of the uptrend setting up.
Ideally a trader would be looking for a pullback here to the golden pocket which clusters up nicely with the 0.5 line of the previous move.
However to some, there is already enough reason to enter, with the break of the previous candle which was somewhat bullish.
Either way make sure your stop is set appropriately. A stop behind the bottom of the recent move is still a 10% stop, so adjust position size accordingly.
Disclaimer: Bitcoin forks (BCH and SV) aren't really my thing and I don't trade them. But it helps to be aware of what is happening with these coins if you are a proponent of Bitcoin. Also interesting that BCHTC is technically providing a better setup than BSVBTC right now despite SV's hype. BCH has also reclaimed the number 4 spot from SV in market cap.
Ideally a trader would be looking for a pullback here to the golden pocket which clusters up nicely with the 0.5 line of the previous move.
However to some, there is already enough reason to enter, with the break of the previous candle which was somewhat bullish.
Either way make sure your stop is set appropriately. A stop behind the bottom of the recent move is still a 10% stop, so adjust position size accordingly.
Disclaimer: Bitcoin forks (BCH and SV) aren't really my thing and I don't trade them. But it helps to be aware of what is happening with these coins if you are a proponent of Bitcoin. Also interesting that BCHTC is technically providing a better setup than BSVBTC right now despite SV's hype. BCH has also reclaimed the number 4 spot from SV in market cap.
