saintbitcoin

BCH vs USD - Bitcoin Cash on the road to recovery

BITFINEX:BCHUSD   None
The Bitcoin Cash market has slowly been recovering alongside BTC , lets take a look at the chart to get an idea of where we stand vs the Dollar.

We can see that the candles are making higher lows on the 4 hr candle chart.

This is a good place for the higher risk trader to get in on the action, stacking buy orders down into the $1260 support zone for quick gains on the way to $1300. Please note this is not advisable for the new trader, markets can change quickly.

The safer entry would be when markets consolidate above $1300 – $1360, providing we have good trading volume , this will be a good confirmation for the new bullish trend .

On the flip side should $1260 fail, we will most likely retest previous support at $1200 – $1000

Short term support is around $1200 and we have solid resistance above $1360, lets be patient while the bulls and the bears battle out.

Feel free to discuss this trade idea with me on Discord. Safe trades.

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