BCHUSD - Awaken of the Beast ...

29 апр. 2018 г.

bitcoinCash has ended the cycle from 06/04/2018 low at 1,574.37 in the form of a motive 5 waves. This means that when correction is completed we should have another motive 5 waves up. Therefore, I can plan to buy the red 2 in the 1h time frame (Otherwise, BCHUSD is not really set for buys when looking at the daily …).
The first sequence of the corrective cycle has ended at 1,225.55 and the bounce failed below 1,574.37 at 1,487.65. So as long as below 1,574.37, I expect a new low. Levels of interest are 1,086.93-971.89 and will get more refined in the 1h chart.
I don't like to sell here and would prefer to position longs lower.

Invalidation to the upside is 599.49
Invalidation to the downside is 1,574.37

Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 29/04/2018-05/05/2018, I propose BCHUSD

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