Analyzing the BCH chart we can see a high probability of a down trend and hopeful retracement down the fibonacci level and moving averages.
My personal trade is as follows:
--open short position on 5x leverage at the .0750 level --take profts at P1, P2 --close trade at the golden ratio .619 which also coincides with the 50 day moving average.
Gredy trade:
-- wait for a spike back to the .0766 level --take profts at P1, P2, P3 -- close your trades at the P4, P5 ranges which is also the 100 and 200 day moving averages.
Could even monitor how the fork date goes and if a heavy drop coincides that may even be able to reach the .382 fib level.
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.