We had the largest volume spike in 2018 after the fork which crashed the price and took the RSI to lowest level ever which means Bitcoin Cash is very OVERSOLD. So it is possible BCH had its capitulation event before other major cryptos
Capitulation means a single major sell-off event in bear market which signals that most people have sold off and thereby marking the END of the correction cycle
Also the 50 EMA (orange) line acts as a median where the price has to eventually meet if its above or below it, right now the price is far below it and likely to go up to meet it (note that the EMA can also come down a little to meet the price)
Greatest Bear Trap (Long-Term)
Trade closed: target reached
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Price always returns to 50 Day EMA! Time for a correction
After the hardfork BCH’s ratio to BTC was cut in half. Do you foresee it gaining that back? If not, even if BTC eventually revisits ATH in the near future, it may be difficult for BCH to reach its ATH again.
imkeshav
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@adams025, Even if it reaches half its ATH ($2000), that is 12X while BTC will do just 5X to reach its ATH
adams025
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@imkeshav, true. Hopefully it doesn’t continue to fall in price.
imkeshav
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@adams025, The biggest problem is BTC may yet have its capitulation and drag everything down. There is uncertainty in the short term