PI : BCHUSD DAILY UPDATE - 08/07/2018
$BCHUSD DAILY UPDATE - 08/07/2018
From 4,385.00 high, bitcoincash is showing a corrective structure that ended at 06/04/2018 high and while above that level, we should see higher. The first leg in the bounce reached 1,838.99 but I propose a FLAT structure with first leg at 1,439.00 high down to 650.00. Now, equal leg area from 4,385.00 high cycle projects 373.00-0.00, so daily is calling lower.
So, I don't like to buy at current levels and would prefer to see a break above 1,838.99 to take position around blue 2.
Reminder: Don't forget to like, comment or subscribe to the channel. It helps me a lot to continue to post content. Much appreciate it.
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.
From 4,385.00 high, bitcoincash is showing a corrective structure that ended at 06/04/2018 high and while above that level, we should see higher. The first leg in the bounce reached 1,838.99 but I propose a FLAT structure with first leg at 1,439.00 high down to 650.00. Now, equal leg area from 4,385.00 high cycle projects 373.00-0.00, so daily is calling lower.
So, I don't like to buy at current levels and would prefer to see a break above 1,838.99 to take position around blue 2.
Reminder: Don't forget to like, comment or subscribe to the channel. It helps me a lot to continue to post content. Much appreciate it.
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.
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