Dear investors,
While the entire crypto market faces cloud sky, BCHBTC remains a strong pair to attract traders' attentions. A previous high of 0.169 on April 23th, 2018 was broken on May 5th when we saw large buying volumes overtaking the resistance line with bright overall market momentum, reaching a high of 0.187. The support remained intact for the next week, until we saw sharp decline on May 11th, when BCHBTC was carried down about 10% by the overall market momentum. The current trading volume of BCH is significantly higher than most other coins, equivalent to about 4.4% of its market cap. This relative volume/capitalization makes BCHBTC relatively bullish on the short-term comparing to other major coins. As we take on the 0.169 level again, the MACD creates a buy signal with a bullish cross at the -0.002 level. If recovery remains on track, our profit target is located to return to the ascending trend line set up in the beginning of May.
Entry Point: As close to 0.157 as possible
Profit Target: 0.185, 0.190, raise stop-loss to break even when first profit target hits
Stop-loss: 0.150
Note: Exit trade immediately if the 0.157 resistance line does not hold
While the entire crypto market faces cloud sky, BCHBTC remains a strong pair to attract traders' attentions. A previous high of 0.169 on April 23th, 2018 was broken on May 5th when we saw large buying volumes overtaking the resistance line with bright overall market momentum, reaching a high of 0.187. The support remained intact for the next week, until we saw sharp decline on May 11th, when BCHBTC was carried down about 10% by the overall market momentum. The current trading volume of BCH is significantly higher than most other coins, equivalent to about 4.4% of its market cap. This relative volume/capitalization makes BCHBTC relatively bullish on the short-term comparing to other major coins. As we take on the 0.169 level again, the MACD creates a buy signal with a bullish cross at the -0.002 level. If recovery remains on track, our profit target is located to return to the ascending trend line set up in the beginning of May.
Entry Point: As close to 0.157 as possible
Profit Target: 0.185, 0.190, raise stop-loss to break even when first profit target hits
Stop-loss: 0.150
Note: Exit trade immediately if the 0.157 resistance line does not hold