Trade Recommendation: Bitcoin Cash

The trading idea is based on a breakout above the downtrend line and the previous swing high. If the market rises above 1600.00 level, it will be a signal confirming further upward movement. MACD lines give a bullish signal. DMI allows opening long trades. We can join to the uptrend placing buy orders at 1600.00 level. Stop orders must be placed below 1500.00 support level. Profit targets are 1750.00 and 2000.00 resistance levels. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Buy: 1600.00
Stop: 1490.00
Profit Targets: 1750.00 and 2000.00

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.