In confirmation of the previous analysis "BCH/EUR short-term analysis",BCH/EUR entered the area giving a good opportunity to make long trade.
It is imperative to wait for a clear and valid alert to enter into a deal!!!
After the upward movement to 456E, BCH/EUR make a correction (a-b-c) to 228E 23.6% FIBO level (or 50% FIBO of the entire upward movement started from 65E (15-Dec-2018).
This is a good level to complete a correction. ( Whether the market knows this? )
The next level we can expect support is 207E, that is 38% FIBO of the entire upward movement started from 65E (15-Dec-2018).
At very deep correction we can see a new 156E test.
In the near future, I expect to see a horizontal correction to levels of 330E and 410E.
It is imperative to wait for a clear and valid alert to enter into a deal!!!
After the upward movement to 456E, BCH/EUR make a correction (a-b-c) to 228E 23.6% FIBO level (or 50% FIBO of the entire upward movement started from 65E (15-Dec-2018).
This is a good level to complete a correction. ( Whether the market knows this? )
The next level we can expect support is 207E, that is 38% FIBO of the entire upward movement started from 65E (15-Dec-2018).
At very deep correction we can see a new 156E test.
In the near future, I expect to see a horizontal correction to levels of 330E and 410E.
