Hello traders,
So I got a lot of requests to post an idea about Bitcoin Cash. Here is my views on it:
1. It is current trading in a major downtrend
2. Short-term view: You can see the trading range its been keeping - once the support is broken, expect further bearish movement
3. Volume always tells the truth. Very high volume in a strong resistance zone indicates that the makers are selling heavily and aren't ready to change the trend.
Let see how this unfolds in the coming days, seems interesting!
- Abdulla
So I got a lot of requests to post an idea about Bitcoin Cash. Here is my views on it:
1. It is current trading in a major downtrend
2. Short-term view: You can see the trading range its been keeping - once the support is broken, expect further bearish movement
3. Volume always tells the truth. Very high volume in a strong resistance zone indicates that the makers are selling heavily and aren't ready to change the trend.
Let see how this unfolds in the coming days, seems interesting!
- Abdulla
Trade closed: stop reached
