BCH Analysis ---- Dead?
Updated
BCH an BTC are almost having an almost propotional relationship. When BTC goes up BCH goes up and vise versa.
This starter after BTC crashed on 29th from its height taking BCH down with it. before that there was an inverse relationship i.e BTC goes up and BCH comes down.
If we take a look at BCH/BTC charts it formating a triange
and looks bearish.
Right now BCH is not showing any kind of strength and its only follow BTC i.e if BCH is approx .15 BTC then if BTC goes up BCH goes up and visa versa.
Unless BCH breaks this pattern shows some strength i am bearish on BCH. I think its better to hold bch for now as suddently BCH can shoot up.
BCH has found a good support at 1186, so in the short tem i am bearish.
Let me know what you think about BCH.
This starter after BTC crashed on 29th from its height taking BCH down with it. before that there was an inverse relationship i.e BTC goes up and BCH comes down.
If we take a look at BCH/BTC charts it formating a triange
Right now BCH is not showing any kind of strength and its only follow BTC i.e if BCH is approx .15 BTC then if BTC goes up BCH goes up and visa versa.
Unless BCH breaks this pattern shows some strength i am bearish on BCH. I think its better to hold bch for now as suddently BCH can shoot up.
BCH has found a good support at 1186, so in the short tem i am bearish.
Let me know what you think about BCH.
Note
As soon as writing this article bch shows strength as is now at 1550 :)
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