How you can trade,
1. Watch bottom or for the price action for buy before the breakout.
2. Watch strong breakout of the corrective ranges with strong candle that strong candle can appear because of the news event. If so simply buy that breakout. If not sure how to trade then head to the previous Bitcoin Cash chart and have a look what kind of breakout you need to look for.
In case price breakdown the corrective ranges or breakdown the no sell will be there it will remain . We will watch the pattern formation and will look for more buy.
5K will be easy for Bitcoin Cash to hit but we will for 7K or 8K target in next 3 to 4 months. It has the potential to hit this target even before that.
So watch bottom for buy.
Currently we are having trend reversal pattern which is a good sign. watch it