Trading plan: BCHUSD (Bitcoin Cash)
BCHUSD made the deepest correction. The drop in Bitcoin Cash rate went through on low volumes, so we are looking forward to the appearance of buyers today.
The support zone for Bitcoin Cash is the price: $ 1165 - $ 1170. We believe that it is from this zone that there should be volumes to buy BCHUSD and its rate will grow to $ 1329.
Priority of the day: buy BCHUSD with a target of $ 1329.
Bitcoin Cash can stop its growth near the resistance level of $ 1257. There is a danger of narrowing of Bitcoin Cash rate to about $ 1257 - $ 1270.
Projected scenarios:
1. Buy BCHUSD from $ 1165 to $ 1329.
2. If sellers on a large volume stop the growth rate of Bitcoin Cash in the area of $ 1257 - $ 1270, then we recommend fixing profits in a long position and thinking about an alternative scenario.
An alternative scenario:
The BCHUSD rate can drop from $ 1257 to $ 1100. First Bitcoin Cash will have to make a correction to $ 1257, and only then fall. It is better to search for a Bitcoin Cash selling deal after breaking down of $ 1200 level top down.
The support zone for Bitcoin Cash is the price: $ 1165 - $ 1170. We believe that it is from this zone that there should be volumes to buy BCHUSD and its rate will grow to $ 1329.
Priority of the day: buy BCHUSD with a target of $ 1329.
Bitcoin Cash can stop its growth near the resistance level of $ 1257. There is a danger of narrowing of Bitcoin Cash rate to about $ 1257 - $ 1270.
Projected scenarios:
1. Buy BCHUSD from $ 1165 to $ 1329.
2. If sellers on a large volume stop the growth rate of Bitcoin Cash in the area of $ 1257 - $ 1270, then we recommend fixing profits in a long position and thinking about an alternative scenario.
An alternative scenario:
The BCHUSD rate can drop from $ 1257 to $ 1100. First Bitcoin Cash will have to make a correction to $ 1257, and only then fall. It is better to search for a Bitcoin Cash selling deal after breaking down of $ 1200 level top down.
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