BitcoinCash/Dollar: Buy Opportunity Towards 4.200..!

Price is in a correction finding massive support at the sliding parallel of the upsloping median line set. Having drawn a downsloping trend to highlight the resistance of correction what we get is a wedge (in addition to the parallel) where price very soon will have no more room to move in. A breakout will occur and price will set free movein either direction. Having in mind that it's correcting after an impulse to the upside, most likely it will break above the wedge, and climb giving us the next impulse. Buying the breakout is a very nice idea. Stoploss should be placed below 2470.00 and profit targets should be placed at 4.200. That would be a nice trade :)

All the best,
John

Yorum:

Price broke above the correction. We may now buy with stops and tp as described in the initial chart