Trade Recommendation: Bitcoin Cash

Bitcoin vs. bitcoin cash

The trading idea is based on a volatility breakout. Now the price moves in narrow range between 1250.00 and 1130.00 levels. MACD lines stay at the signal level and it’s an additional confirmation of range market conditions. We should be ready to see a breakout above or below the borders. It will give us a new trading opportunity. As we can make profit only from buying, we should place pending orders above 1250.00 resistance level. Entry level is 1260.00 with stop at 1120.00 level. Profit targets are 1400.00 and 1600.00 levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: BCCUSD
Buy: 1260.00
Stop: 1120.00
Profit Targets: 1400.00 and 1600.00

The trading signal is based on Bittrex chart.
Disclaimer: The analyst does not have investments in Bitcoin Cash.

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.