Trading plan: BCHUSD (Bitcoin Cash)
BCHUSD on small volumes yesterday increased in price. Unfortunately, buyers have not shown their strength, so there may be a continuation of the downward movement. According to the volume analysis, the nearest resistance level for Bitcoin Cash is: $ 1280, and support levels: $ 1200, $ 1100.
Priority of the day: neutral position on BCHUSD.
Bitcoin Cash has not yet overcome the descending inclined line of the channel, so it's hard to say where it will go today.
Projected scenarios:
1. Buy BCHUSD from $ 1200 to $ 1280.
2. Sell BCHUSD from $ 1280 to $ 1100.
An alternative scenario:
BCHUSD may end up in a narrow corridor until the end of the day. Therefore, we recommend our subscribers not to trade today.
Priority of the day: neutral position on BCHUSD.
Bitcoin Cash has not yet overcome the descending inclined line of the channel, so it's hard to say where it will go today.
Projected scenarios:
1. Buy BCHUSD from $ 1200 to $ 1280.
2. Sell BCHUSD from $ 1280 to $ 1100.
An alternative scenario:
BCHUSD may end up in a narrow corridor until the end of the day. Therefore, we recommend our subscribers not to trade today.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.