Bitcoin Cash closed in the red zone yesterday. This is a bad sign for our purchases.
Priority of the day: buying BCHUSD with a target of $ 1456.43.
The Elliott Wave Oscillator indicator shows a value below zero. Correction continues and can lead to reversal.
Projected scenarios:
1. The BCH rate is compressing. Today, it can go either way: the fall of Bitcoin Cash to the lower boundary of the purchase zone $ 1185 or a sharp way up. Since our priority is trend work, we will look for buying opportunities near the $ 1185 level. It's dangerous to enter the breakdown at $ 1370.
2. The risky, but very workable option is to sell BCHUSD now on the market with a target of $ 1185.
Alternative scenario:
The worst option for us is the continuation of the flat movement of Bitcoin Cash all day.
The sales area for us is still at the level of $ 1100. If BCH will fall for a couple of days, then we will be able to see opportunities to sell it by the end of the week.
Priority of the day: buying BCHUSD with a target of $ 1456.43.
The Elliott Wave Oscillator indicator shows a value below zero. Correction continues and can lead to reversal.
Projected scenarios:
1. The BCH rate is compressing. Today, it can go either way: the fall of Bitcoin Cash to the lower boundary of the purchase zone $ 1185 or a sharp way up. Since our priority is trend work, we will look for buying opportunities near the $ 1185 level. It's dangerous to enter the breakdown at $ 1370.
2. The risky, but very workable option is to sell BCHUSD now on the market with a target of $ 1185.
Alternative scenario:
The worst option for us is the continuation of the flat movement of Bitcoin Cash all day.
The sales area for us is still at the level of $ 1100. If BCH will fall for a couple of days, then we will be able to see opportunities to sell it by the end of the week.