**Bitcoin Cash is in action: Watch this Long/Short scenario!**
Hi, Traders !
Monfex is at your service !
Bitcoin Cash is at the crossroads. In this analysis we will try to find evidence in support of Long & Short scenario.
* Sharp bearish impulse toppled the price of BCH down from $330 to $205 in less than two weeks.
* On the heels of the drop, the price has found the Support near the local bottom registered in the end of April'19.
* From the technical standpoint, the recent consolidation might be developing either ahead of the further decline to the Long-Term Support Area or immediately before the bounce up to a lower band of the 2nd Consolidation Area.
* RSI still resides inside the oversold territory. But the reliability of this indicator in such ambiguous situation is rather low. It can easily 'dive' deeper into even more oversold condition.
Our short-term trading strategy
We hold both buttons (Buy&Sell) at call:
* If the price breaks above $236, we push Buy with a target of $275 - $285 and a tight Stop-loss of $5.
* If the price swoops below $201.5, we trigger Sell with a target of $130 - $140 and a Stop-loss of $10.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Monfex is at your service !
Bitcoin Cash is at the crossroads. In this analysis we will try to find evidence in support of Long & Short scenario.
* Sharp bearish impulse toppled the price of BCH down from $330 to $205 in less than two weeks.
* On the heels of the drop, the price has found the Support near the local bottom registered in the end of April'19.
* From the technical standpoint, the recent consolidation might be developing either ahead of the further decline to the Long-Term Support Area or immediately before the bounce up to a lower band of the 2nd Consolidation Area.
* RSI still resides inside the oversold territory. But the reliability of this indicator in such ambiguous situation is rather low. It can easily 'dive' deeper into even more oversold condition.
Our short-term trading strategy
We hold both buttons (Buy&Sell) at call:
* If the price breaks above $236, we push Buy with a target of $275 - $285 and a tight Stop-loss of $5.
* If the price swoops below $201.5, we trigger Sell with a target of $130 - $140 and a Stop-loss of $10.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
