Trading plan: BCHUSD (Bitcoin Cash)
BCHUSD broke top down the 50% Fibonacci zone of the previous upward momentum. It seems that the bears prevailed over the bulls.
The priority of the day: BCHUSD sales with the target of $1430.
Stop of Bitcoin Cash price was in 33% Fibonacci zone. This is a sure sign of forming a triangle in the future.
Projected scenarios:
1. Sell BCHUSD near $1547. Sales target of BCH is the level of $1430.
2. BCHUSD most likely will stay in the flat today.
An alternative scenario:
Purchases of BCHUSD from the level of $1600 to $1800. This is an emergency option in case of unexpected appearance of large buyers of BCHUSD.
The priority of the day: BCHUSD sales with the target of $1430.
Stop of Bitcoin Cash price was in 33% Fibonacci zone. This is a sure sign of forming a triangle in the future.
Projected scenarios:
1. Sell BCHUSD near $1547. Sales target of BCH is the level of $1430.
2. BCHUSD most likely will stay in the flat today.
An alternative scenario:
Purchases of BCHUSD from the level of $1600 to $1800. This is an emergency option in case of unexpected appearance of large buyers of BCHUSD.
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