This one really makes me sore! I didn't cover BCH but was watching it closely. We all know the drama it went thru and the significant drop
in price as a result. But when it hit the $70 level that was enough to consider an entry point. For a time it decoupled from BTC
and began trading uncorrelated -- free from BTC! Now we seem to be correlated to the big dog again and the chart demonstrates 2 main Trendlines
; Primary and a Secondary Trend. The primary is Bearish
and the Secondary follows suit. It appears they may be some more downside risk. When considering making an entry into this token (coin, crypto, or whatever you call it), I suggest waiting until the trendlines
confirm the trend or are breached and began acting as resistance. Please note that time plays a critical role in charting and TA, so this analysis covers the 4-hr period only. This is a short-term TA.
Outlook: Neutral to Bearish
Long-term: Neutral - I believe this token/coin wants to see $200, but I am now wary that it would be a short trap if it did get that high or higher, so trade with discipline and take your profits when you can. You do not want to be sitting on these cryptos, underwater, hoping you will get your money back. Get in and get out and try to hold as many as you can for free, in other words, leave the profits in the crypto so you're never out-of-the-game!