Bitcoin Cash grows in price. To be honest the growth is very weak. The narrowing of the BCH's rate into the triangle shape is possible.
Priority of the day: buying BCHUSD with a target of $16000.
The Elliott Wave Oscillator shows a value above zero. The indicator divergence is possible by the end of the day, which signals a downward correction.
Projected scenarios:
1. The growth rate of BCHUSD to $ 16000 will be slow and confident, per usual.
2. Compression of the Bitcoin Cash rate into a triangle. Of course, it will take a couple of days to form the triangle. We forecast exit from it up to our goal at the weekend.
Alternative scenario:
The worst option for us is the continuation of the flat movement of Bitcoin Cash all day.
We aren’t considering sales of Bitcoin Cash today. The upward momentum from buyers has not yet ended. The sales area for us is at the level of $1100.
Priority of the day: buying BCHUSD with a target of $16000.
The Elliott Wave Oscillator shows a value above zero. The indicator divergence is possible by the end of the day, which signals a downward correction.
Projected scenarios:
1. The growth rate of BCHUSD to $ 16000 will be slow and confident, per usual.
2. Compression of the Bitcoin Cash rate into a triangle. Of course, it will take a couple of days to form the triangle. We forecast exit from it up to our goal at the weekend.
Alternative scenario:
The worst option for us is the continuation of the flat movement of Bitcoin Cash all day.
We aren’t considering sales of Bitcoin Cash today. The upward momentum from buyers has not yet ended. The sales area for us is at the level of $1100.