bitcoinCash has ended the cycle from 06/04/2018 low at 1,574.37 in the form of a motive 5 waves. This means that when correction is completed we should have another motive 5 waves up. Therefore, I can plan to buy the red 2 in the 1h time frame (Otherwise, BCHUSD is not really set for buys when looking at the daily …).
The first sequence of the corrective cycle has ended at 1,225.55 and the bounce failed below 1,574.37 at 1,487.65. So as long as below 1,574.37, I expect a new low. Levels of interest are 1,086.93-971.89 and will get more refined in the 1h chart.
I don't like to sell here and would prefer to position longs lower.
Invalidation to the upside is 599.49
Invalidation to the downside is 1,574.37
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
The first sequence of the corrective cycle has ended at 1,225.55 and the bounce failed below 1,574.37 at 1,487.65. So as long as below 1,574.37, I expect a new low. Levels of interest are 1,086.93-971.89 and will get more refined in the 1h chart.
I don't like to sell here and would prefer to position longs lower.
Invalidation to the upside is 599.49
Invalidation to the downside is 1,574.37
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
