In trading, the boss is volatility. Plain and simple. Swing high, swing low, just keep swinging. If you compare Bitcoin (which most of my analysis as a trader covers) to BCH, with my definition in mind, who is the boss? Clearly BCH. Let me explain.
If we compare the lows of the run to the completed run up (December 18' through July 19', roughly), which big cap crypto had the best 'run'?
Obviously the money and attention is focused on BTC. BTC ran up 350%. What about EOS, with the massive trading volume EOS sees? Ran up 450%. And, why are we here? BCH ran up a total of about 600%.
BCH is down way more than BTC at the current time, and much more than EOS. It is a volatile, untrustworthy, dangerous asset. No doubt. But bang for the buck, BCH is boss.
Looking at a simple fib analysis, paying attention to volume as well, it strongly looks like we are going to $170 benjamins.
It does look currently like a bounce could form, but, again, volume showing that, even with a bounce, it is most likely to make a H&S-ish pattern on the daily. Why the "ish" part? The H&S target will not hit... or else that means BCH is going to $0, at which point you can disregard this analysis (that's a joke).
Ideally there is a swing low to $150, at which point it will be a prime asset to buy. Don't go crazy over it, but if $570 was the first BCH run up, another 600% puts us at about the $1k target. Not a bad return for knowing who the boss is.
If we compare the lows of the run to the completed run up (December 18' through July 19', roughly), which big cap crypto had the best 'run'?
Obviously the money and attention is focused on BTC. BTC ran up 350%. What about EOS, with the massive trading volume EOS sees? Ran up 450%. And, why are we here? BCH ran up a total of about 600%.
BCH is down way more than BTC at the current time, and much more than EOS. It is a volatile, untrustworthy, dangerous asset. No doubt. But bang for the buck, BCH is boss.
Looking at a simple fib analysis, paying attention to volume as well, it strongly looks like we are going to $170 benjamins.
It does look currently like a bounce could form, but, again, volume showing that, even with a bounce, it is most likely to make a H&S-ish pattern on the daily. Why the "ish" part? The H&S target will not hit... or else that means BCH is going to $0, at which point you can disregard this analysis (that's a joke).
Ideally there is a swing low to $150, at which point it will be a prime asset to buy. Don't go crazy over it, but if $570 was the first BCH run up, another 600% puts us at about the $1k target. Not a bad return for knowing who the boss is.