Trading plan: BCHUSD (Bitcoin Cash)
The rate of BCHUSD fell sharply to the level of $ 723.
Priority of the day: buy BCHUSD with a target of $ 800.
We believe that the culmination of the fall of Bitcoin Cash's rate is near the end, and a sharp bounce of its price upwards will happen in the matter of a few days, with the immediate target of $ 800.
Of course, the downtrend on Bitcoin Cash has not yet come to an end, so the continuation of the fall of its rate to $ 700 is possible.
To all those who now hold short positions on Bitcoin Cash, we recommend thinking about fixing profits. Risk traders can try to enter Bitcoin Cash purchases with the part of their capital. But, we trade conservatively, so today we do not plan on buying Bitcoin Cash against the trend.
Projected scenarios:
1. The BCHUSD rate will rise from $ 740 to $ 800.
2. The BCHUSD rate will drop from $ 750 to $ 700.
An alternative scenario:
Naturally, after such a strong culmination of the Bitcoin Cash rate fall, a prolonged flat is likely to happen.
Priority of the day: buy BCHUSD with a target of $ 800.
We believe that the culmination of the fall of Bitcoin Cash's rate is near the end, and a sharp bounce of its price upwards will happen in the matter of a few days, with the immediate target of $ 800.
Of course, the downtrend on Bitcoin Cash has not yet come to an end, so the continuation of the fall of its rate to $ 700 is possible.
To all those who now hold short positions on Bitcoin Cash, we recommend thinking about fixing profits. Risk traders can try to enter Bitcoin Cash purchases with the part of their capital. But, we trade conservatively, so today we do not plan on buying Bitcoin Cash against the trend.
Projected scenarios:
1. The BCHUSD rate will rise from $ 740 to $ 800.
2. The BCHUSD rate will drop from $ 750 to $ 700.
An alternative scenario:
Naturally, after such a strong culmination of the Bitcoin Cash rate fall, a prolonged flat is likely to happen.
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