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
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Entry point touched on Binance Exchange for USDT @ $222.5, moved SL up to initial entry to avoid any capital loss, happy profits taking :)