BCH/BTC 1D Jul. 25
Suggested Entry: 25215
Target 1: 26650
Target 2: 27800
Target 3: 28840
Stop Loss: 24250
The reason why Bitcoin Cash (BCH or BCHABC) is bullish despite having a similar setup to XRP is for two main reasons:
- Technical indicators support a stronger evidence for bullish momentum
- While confirmation is yet to be provided, it could be argued that BCH has broken out of the descending wedge pattern
As a descending wedge pattern in a downtrend is typically identified as a bullish reversal pattern, we suggest a long position with targets leading up to previous historical resistance levels, and a tight stop loss below significant support.
Trade safe.
Target 1: 26650
Target 2: 27800
Target 3: 28840
Stop Loss: 24250
The reason why Bitcoin Cash (BCH or BCHABC) is bullish despite having a similar setup to XRP is for two main reasons:
- Technical indicators support a stronger evidence for bullish momentum
- While confirmation is yet to be provided, it could be argued that BCH has broken out of the descending wedge pattern
As a descending wedge pattern in a downtrend is typically identified as a bullish reversal pattern, we suggest a long position with targets leading up to previous historical resistance levels, and a tight stop loss below significant support.
Trade safe.
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