Bitcoin Cash price increase and will test MA50
Updated
So, the black trend line is acting as support as it should.
I believe by the time we reach target, the MA50 will act as a resistance, which is why I'm conservative on price target, but it could shoot much higher.
If this trade doesn't go our way, I think we will touch the MA200 and bounce hard from there.
About fundamentals, Bitcoin Cash have extremely strong one, as described in this article ccn.com/news/bitcoin-cash-strong-fundamentals-could-act-as-catalysts-in-next-bull-run/2019/07/24/
If you believe in P2P cash, then don't miss the
BCH train.
I believe by the time we reach target, the MA50 will act as a resistance, which is why I'm conservative on price target, but it could shoot much higher.
If this trade doesn't go our way, I think we will touch the MA200 and bounce hard from there.
About fundamentals, Bitcoin Cash have extremely strong one, as described in this article ccn.com/news/bitcoin-cash-strong-fundamentals-could-act-as-catalysts-in-next-bull-run/2019/07/24/
If you believe in P2P cash, then don't miss the
BCH train.Trade active
Trade closed manually
I took some profits here, for we are at resistance and MA50 isn't very far from it. You can use a trailing-stop to lock-in profits if we can't reach target $364.I wouldn't be surprised that we retrace back to $320 levels in the coming days, which would be another entry for me. I'll post a tradingview idea once the situation develops.
Anyhow, congratulations if you followed this idea, this trade was very profitable :)
I suggest you to tip with Bitcoin Cash the fabulous non-profit @eatBCH (twitter.com/eatbch) or the Bitcoin Cash devfund (bitcoin.com/fundraise/) to show your support
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