benice_trader
Long

Bitcoin cash Child of Bitcoin

BINANCE:BCCUSD   None
Greetings from Benice team!

Bitcoin cash 6.63% is a fork of Bitcoin , which appeared against the background of the main network in the summer of 2017.
We omit the details of disputes and fights about the fairness of growth and evidence of the manipulation's influence Bitmain on the course BCH, as well as the controversy surrounding the identity of the proponent of Bitcoin Cash 6.63% - Roger Faith.

Emotional background tends to change greatly in this market. What will happen next - we'll see. Whatever it was, BCH today attracts attention, the nearest fork, which means that those wishing to participate in obtaining new coins should gather a lot! Bitmain with an IPO in the current year 2018 is also interested in the rate of BCH above the current values. The company is a major holder of the token, the average purchase price of which was around $ 900. This fact is positive for further growth.

At the moment, BCH is trading at 427. The quotes are below the 50 and 200 day moving averages. A technical rebound in a downtrend may start from the current periods or with a decrease of 390. In case of overcoming the level of 390 and fixing the price below, the next goal may be the cost of 260.

The first target of the long from level 427 is 442. The second target is 470. Further, there are also targets 514 and 550. In the case of consolidation above 550, the price will aim at the target of 780 and 1050.



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Comment: The target of 550 has been achieved very quickly! With such an impetus, you'd better place a stop order, rather than complete the transaction on the market.
You can place a stop at the 4-hour chart minimum level above 550. The target remains at the levels of 780 and 1050 with an intermediate target of 597 and 650.
We are waiting to see how the events unfold!
Trade closed: target reached
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