If you are a fan of Bitcoin Cash
and see great potential in this "altcoin". If you don't care that any long trade can be closed by stop because of unstable market conditions. If you want to become a rich guy and do it very quickly (it's a joke). This trading idea is for you. Like in the previous trading idea we got a price reversal from one of Moving Averages. This time it was SMA100 which is stronger as a support line than SMA50. RSI
confirmed price reversal. MACD
supported upward movement and DMI also was goign to give a bullish
signal. We could trade based on a reversal signal. But more safe variant is to use a breakout signal. The market made a new swing high and it can be used for placing orders for buy. Also if the price breaks the downtrend line and this high, it will be an additional confirmation of further upward movement. It will be a new trading opportunity. Entry level is 1545.00 with stop below the local swing low at 950.00 level. Profit targets are 2000.00 and 2500.00 levels. Of course if you believe in "To the Moon", the part of trade volume
can be left for long run. Don't forget that the market is not stable and using stop orders is strongly recommended.