Bitcoin Cash Market Breakdown - July 1st, 2020
Let me know your thoughts down below
- Bitcoin Cash hit both of our entry points, and even though the market looks choppy and unsure my thoughts are why not try and scalp this long play real quick.
- We understand the levels that are respected now and know where the price is going to float to
- Entry 1 - $213
- Entry 2 - $222.5
- Saying this I entered at $219 with an original stop at $218, very tight, now the price is $225 my stop is along the support line of $222.5 now.
- Targeting the wick of this downtrend, i'm going to sell there and re-evaluate.
- Letting this play ride out now, chillin with SL higher than my initial entry, so worst case I still make money.
- BCH and the other cryptocurrencies whether you like it or not are very closely correlated to the stock market
Let me know your thoughts down below
Comment:
Entry point touched on Binance Exchange for USDT @ $222.5, moved SL up to initial entry to avoid any capital loss, happy profits taking :)
