What a crazy rally we saw yesterday on Bitcoin Cash, wow! But now is the moment to take out profits from it 🙂

If you take a look to below chart, we can see that this scheme is following the Elliot wave theory. This theory states that wave 3 can never be the shortest amongst the five. Wave 3 is usually the longest and most fast growing but in this case it wave 5 the one that took prices way up. Normally waves 1 and 5 are shorter than 3 but this is variable. The MACD indicator is also confirming that we are now inside the ABC correction. So is a good opportunity to do a quick trade on the B bounce or to take benefits from the big rally.

Today’s trade recommendation is to get some profits from this movement to buy more Bitcoin Cash later on. I really think is a good moment to hodl Bitcoin Cash while the Bitcoin’s situation is still unclear.

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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Categories: Trading