We have been looking at BITMEX:BCHU18 downtrend and on the denoted blue square we can see a daily downtrend line broken and used as support. The best long opportunity would've have been the re-test on 16 August 0900 Eastern Standard Time. BITMEX:BCHU18 just started an uptrend and volume is picking up on the whole cryptocurrency market. We believe that a break of the current ascending triangle upwards would be the best entry point for a long opportunity, playing a classic breakout of the formation. Watch for 0.0851 resistance to be broken, using a 15 minute to 30 minute candle close above, my method would be to market buy and stop back inside the formation or long now with limit with a stop below the current formation.
Possible entries: 0.0855-0.0860
Possible stops: 0.0837
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Cryptocue is not registered to provide investment advice and is simply providing an opinion, giving a particular experience. Information contained here is not an offer or solicitation to buy, hold, or sell any security.
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Cryptocue and/or any others affiliated with CryptoCue, are not responsible for any gains or losses that result from the opinions expressed herein.
Cryptocue makes no representation as to the completeness, accuracy, or timeliness of the material provided and all materials are subject to change without notice. Opinions discussed herein have not been reviewed by the securities and exchange commission or any state securities regulatory authority. Furthermore, in cases of Initial Coin Offering the foregoing authorities have not confirmed the accuracy or determined the adequacy of the Initial Coin Offering offering documents.
Possible entries: 0.0855-0.0860
Possible stops: 0.0837
Disclaimer
Cryptocue is not providing individually tailored investment advice and is not taking subscribers personal circumstances into consideration when discussing investments. Investment involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire position. Investors should consult their registered financial adviser before investing.
Cryptocue is not registered to provide investment advice and is simply providing an opinion, giving a particular experience. Information contained here is not an offer or solicitation to buy, hold, or sell any security.
Cryptocue is not a broker-dealer or financial adviser and is not affiliated with an investment advisory firm and does not engage in activities that would require such registration.
Cryptocue and/or any others affiliated with CryptoCue, are not responsible for any gains or losses that result from the opinions expressed herein.
Cryptocue makes no representation as to the completeness, accuracy, or timeliness of the material provided and all materials are subject to change without notice. Opinions discussed herein have not been reviewed by the securities and exchange commission or any state securities regulatory authority. Furthermore, in cases of Initial Coin Offering the foregoing authorities have not confirmed the accuracy or determined the adequacy of the Initial Coin Offering offering documents.
Trade closed: target reached:
BCH seems to be hitting resistance, BTC rejection has made BCH bearish, at least on the lower timeframes. its not looking good. Would take profits now and let it develop a little bit before getting into any position.