Trading plan: BCHUSD (Bitcoin Cash)
BCHUSD finishes its decline. Volume analysis shows that Bitcoin Cash resistance level is near $ 1200. It is a turning point: whether the rate go up or down.
Priority of the day: neutral position on BCHUSD.
Bitcoin Cash has a good volume support level near $ 1135. We expect that the fall of its rate will end here.
Projected scenarios:
1. Sell BCHUSD from $ 1200 to $ 1135.
2. You can not exclude Bitcoin Cash lateral movement before the end of the day.
An alternative scenario:
BCHUSD can rise from $ 1200 to $ 1280. There are premises for that: sales volumes declined (look at point 1 on the chart) and support level $ 1135 is already close.
Priority of the day: neutral position on BCHUSD.
Bitcoin Cash has a good volume support level near $ 1135. We expect that the fall of its rate will end here.
Projected scenarios:
1. Sell BCHUSD from $ 1200 to $ 1135.
2. You can not exclude Bitcoin Cash lateral movement before the end of the day.
An alternative scenario:
BCHUSD can rise from $ 1200 to $ 1280. There are premises for that: sales volumes declined (look at point 1 on the chart) and support level $ 1135 is already close.
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