Will the Fall of USD Bring Hope to the Crypto Markets?
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
USD/CHF: the franc is supported
2019-11-11 • Updated
Recommendation:
SELL 0.9805 SL 0.986 TP1 0.9705 TP2 0.966 TP3 0.96
On the daily chart of USD/CHF, the return of the pair towards the resistance near the parity level (1.00), will push the pair towards the targets of the 5-0, "Wolfe Waves" and AB=CD patterns. The targets of the last ones comply with the 1.018 and 1.04 levels. Otherwise, if the pair moves below the 50% level of the "Shark" pattern's CD wave, the risks of the further fall will increase.
On H1, bears plan to implement the "Three Indians" and "Broadening Wedge" patterns. If the December's minimum is updated, the pair will rise.
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