Bitcoin Cash (BCH) looks bearish these days getting near to the bottom of the support level at 500€. We can see a clear flag pattern in the chart, so If BCH break out we can expect an uptrend. The MACD indicator is neutral that means that in the following hours we need to check if the 500€ support level is breaking down trying to reach the next support level at 415€ to remove our position and stay out of the trade, or if on the other hand, as it is a strong support level, it rally all the way up to the next target on the resistance level at 690€.
Today’s trade recommendation is to get some position on Bitcoin Cash (BCH) near 500 euros with a stop loss limit at 480 and take some profits near 690 euros.
IMPORTANT: Never invest money you can’t afford to lose. Always do your own research and due diligence before placing a trade.
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