COINBASE:BCHUSD   Bitcoin Cash / U.S. Dollar
So we have a classic S/R play on this one with .78 fibbs level working as a retracement in aggressive downtrend in the past. It has broken out after a recently long consolidation but got rejected at level 2. It broke the level 1 but found support at 10ema and been making gains since the start of the week. Currently the rising volume supports the uptrend. We have a very volatile market conditions presently so it would be ideal to take an objective trade with nice RR with Stop loss.
So the plan is-

Comment: So its currently consolidating on 4h timeframe at level1. I would like to see one good impulsive green candle above level 1 to enter a long position with volume at least 50k at close. TP1 - 638 and TP 2 - 800ish.

Alternately if we break down level 1 then likely to go to level 0.
Comment: Appreciate likes and comments


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