We want to be bullish in the crypto space. As we have tried to maintain a positive or neutral stance, we have ignored the growing bearish picture in Bitcoin Cash (BCH). You could call Bitcoin Cash (BCH) a lot of different things. Some of those things are nasty, given how the coin fits into the crypto "political" picture.
Keeping emotions out the picture, we are starting to look at Bitcoin Cash (BCH) as a significant altcoin. We are also noticing that BCH is pressing right on a big Fib speed line. In the past, we have seen significant crashes unfold when big coins have failed to move through this type of resistance line. Looking at this picture, we are forced to think that shorting BCH may be the best way to hedge crypto long positions.
Bottom Line: Bitcoin Cash (BCH) could be one big down day away from dragging the crypto space lower. Keep your fingers crossed that it doesn't happen.
Keeping emotions out the picture, we are starting to look at Bitcoin Cash (BCH) as a significant altcoin. We are also noticing that BCH is pressing right on a big Fib speed line. In the past, we have seen significant crashes unfold when big coins have failed to move through this type of resistance line. Looking at this picture, we are forced to think that shorting BCH may be the best way to hedge crypto long positions.
Bottom Line: Bitcoin Cash (BCH) could be one big down day away from dragging the crypto space lower. Keep your fingers crossed that it doesn't happen.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.