Short
Bitcoin Cash: Wait
Updated
Bitcoin Cash has shown phenomenal growth since the fork. Fundamentally, its very similar to bitcoin and offers faster transaction speeds and bigger block sizes but in my opinion its place as a store of value is questionable. Price action has been very strong on BCH but volumes have only been decreasing over time. Its consolidating into a symmetric triangle ( or ascending triangle) with an equal probability of breaking out on either side.
I am more inclined toward bear a:
a. declining volumes
b. price and RSI are divergent
c. lack of a long accumulation phase
I am more inclined toward bear a:
a. declining volumes
b. price and RSI are divergent
c. lack of a long accumulation phase
Note
Price action is nicely following this chart, looking for a break in either direction for an entry
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