BCC/BTC is a volatile beast so be careful trading it. With that being said, price just broke above a triangle. Perhaps we should wait on a dip.
BCC/BTC 1H Chart
- The breakout was strong but there is a strong resistance as well.
- Still looking at the RSI, it looks like the market kept the bullish momentum from 11/17-11/18.
- After holding above 0.14, I think bcc/btc is making another bull run.
- Price might retreat during the 11/22 session. If it does, we should monitor the .145 to .150 area for possible support. This is a wide area, but BCC is a volatile beast.
- Stop should probably be around 0.1390.
Trade Plan with Reward to Risk:
- Entry: 0.1500
- Stop: 0.1390 (-7.33%)
- Target 1) 0.1650 (+10%)
- Target 2) 0.1800 (+20%)
- Target 3) 0.2000 (+33.33%)