Trading idea for BCH/USD LONG - Current price 613 USD

On this occasion we are looking for an entry in the BCH and USD parity to open a long position that takes us to a price of around 850 USD.

We have to be aware of the buying signal that is currently developing.

There are three possible options:

1) Wait for the price (one candle) to close above the cloud (Kumo).

2) Wait for Tenkan (blue line) and Kijun (pink line) to come out of the cloud and hold their positions (Tenkan above Kijun).

3) A reversal of trend in the cloud (Kumo), i. e. a change in market "sentiment", the bearish for the bullish (change from red to green cloud).

In all cases, the signal should be confirmed with Chikou. And we should see the orange line above the cloud. MACD can provide further confirmation of the signal. The RSI should be currently above 50. This last is an indication of a bullish market.

Our target is level 1.618 of the Fibonacci extension (~850 USD). And our Stop Loss, 578 USD, is determined by the support offered by the lower line of the Kumo.

Stay tuned of any changes and good luck!
订单已取消: With bitcoin rising in the last few hours, and exerting strong pressure on the other cryptocurrencies, none of the three buying signals developed properly on pair BCH/USD.

It's time to wait, relax and try a new entry later.

Good luck!
Thanks! Looking forward to an update
Thank you for your analysis <3
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