The entire Crypto Market is experiencing the deepest form of despair I have ever seen! It is in these times where the best entries are formed.
Now, before we get too depressed let's take a look at the of Bitcoin Cash .
After analyzing the previous market cycle of Bitcoin Cash , I found a beautiful that seems to be repeating.
When BCH was added to the market, we saw a great rally followed by the retrace I have drawn on my chart.
After the rally, price slowly trended on the downside until finding support after a near 90% retrace.
Now, if we take a look at the current market cycle of Bitcoin Cash we see the same pattern playing out.
Prices rallied from late October to mid November, before a very sharp sell off of 80% from ATH .
What followed next was the retrace that we are still currently riding out to the bottom.
Taking a look at the , we can clearly see momentum is oscillating in a symmetrical . This pattern can go or however,
I believe that the probabilities are in the Bulls favor.
On the Daily we have a clear oversold signal which tells us that the sellers are slowly dying out.
For those looking for an entry, now is a great time to be accumulating cheap BCH.
Thank you all for tuning into this weeks analysis of Bitcoin Cash!
Will History Repeat Itself? I sure hope so!
Remember to love thy neighbor as thyself, and remain positive throughout the deep despair of the Cryptocurrency Market.
Great things are coming, it's been prophesied. ;)
Now, let's get ready for the Hype Cycle!