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BCCUSD – Being 50% up and bears still in control?

Everyone and even the dogs in the streets talk about 50% jump in Bitcoin Cash triggered by a speculation related to the upcoming fork…

Great but if you are not long from USD 500 or below and you are trying to chase the price at these levels, it may end up badly (simply it might be you turning the light off). While reading the chart you see that we are in a consolidation phase at best that started at the beginning of September, in other words between USD 400 and 650.

Only the move and close above USD 700 may open the way towards USD 900.

Any kind of disappointment here may bring a new wave of selling towards the bottom of the consolidation range and a daily close (twice in a row) below USD 400 may open the way towards USD 150.

 

Should you have any questions feel free to contact us anytime.

Good luck Champs!

Mr Hawk

 

 

DISCLAIMER: This material was created for informational purposes only and represents the Land of Trading team’s view of the past, current and future economic and financial markets environment. It is not an investment advice and should not be viewed that way at all, and the creators of this material are not and cannot be held liable for any potential losses resulting from trading, where despite this disclaimer someone would consider this material as an investment advice. All rights reserved ©2016-2018. Contact: landoftradingATgmailDOTcom

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