REKTCryptoTrader
Long

Bitcoin Cash | Good Breakout. Continuation? [BCHBTC]

BITFINEX:BCHBTC   None
Bitcoin Cash just had a breakout with really good volume .
If support above the first resistance and the MA can be established, I'd say that continuation is very likely. The move is supported by bullish divergence on the Daily RSI .
It's a very tricky situation right now, because Bitcoin seems to be bearish and Altcoins usually follow.
I'd say its possible that we see some sort of de-correlation in the near term.
Altcoins are springloaded, every time BTC makes a tiny little move to the upside, we see massive gains on different Alts.
In the past, BCH was sometimes seen as a hedge against BTC . We might get some of that sentiment back if BCH manages to push up even higher.
As always, never FOMO into trades. Wait for consolidation pattern before you enter a position.
My final take profit zone would be around 0.13 and 0.14, if BCH managed to get through the previous resistances.
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