The BCHUSD rate bounces off the support level of $ 1000. We follow the downtrend, so we predict a further drop in the Bitcoin Cash rate to the level of $ 907.
Priority of the day: sell BCHUSD with the target of $ 907.
It is better to search for an entry point for a short position on BCHUSD near $ 1100. Right now the general direction of movement of its rate seems bearish. There are no large volumes to buy Bitcoin Cash yet, the bears dominate the crypto market.
Projected scenarios:
1. Sell BCHUSD from $ 1100 to $ 907.
2. Today may be the day of the rollback of Bitcoin Cash to the upper limit of the flat: $ 1150 - $ 1100. We will patiently wait for the best price to enter the BCHUSD.
Alternative scenario:
The BCHUSD rate can get support from large buyers near the level of $ 1000, and break out up to $ 1300. At the moment, such a scenario is unlikely, so we attribute it to an alternative one. If this happens, then we will see large volumes for the purchase of Bitcoin Cash, and we will reconsider our trading plan.
Priority of the day: sell BCHUSD with the target of $ 907.
It is better to search for an entry point for a short position on BCHUSD near $ 1100. Right now the general direction of movement of its rate seems bearish. There are no large volumes to buy Bitcoin Cash yet, the bears dominate the crypto market.
Projected scenarios:
1. Sell BCHUSD from $ 1100 to $ 907.
2. Today may be the day of the rollback of Bitcoin Cash to the upper limit of the flat: $ 1150 - $ 1100. We will patiently wait for the best price to enter the BCHUSD.
Alternative scenario:
The BCHUSD rate can get support from large buyers near the level of $ 1000, and break out up to $ 1300. At the moment, such a scenario is unlikely, so we attribute it to an alternative one. If this happens, then we will see large volumes for the purchase of Bitcoin Cash, and we will reconsider our trading plan.