Bitcoin Cash has formed a Bullish Flag and ready for next Impulsive Move

CryptoKraze here

In this post I am going to cover technical analysis of Bitcoin Cash for medium term trade. I am using tradingview charts and price linked to Bittrex exchange. Let' have a look on technical aspects of Bitcoin Cash.

Possibility on 1 Hour Chart

If you look at the 1 hour chart, you will see Bitcoin Cash has mad a big impulsive move and now it is forming a bullish flag. This is very common pattern in crypto currencies, whenever a coin breaks with big impulsive move, it pull backs and wait for some time before making next impulsive move. If we look at RSI, it has gone above 70 level in first impulsive move and has dipped to 50 level now, so we have pull back done and next impulsive move is ready.

I have a buy entry at 0.01740000 my profit target will be around 0.0205000 or above.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

Have a look on my other Posts
Bitcoin Correction Almost Done - Get Ready for Boom
Averaging Technique in Crypto Trading

If you like my posts and analysis and want me to add analysis on more cryptocurrencies, let me know in comments and I will add analysis

Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose.

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