Bitcoin Cash: History Repeating Itself?

Bitcoin Cash: History Repeating Itself?

Bitcoin Cash (BCH) is a fork of Bitcoin that was created in 2017. BCH has a history of forming long sideways patterns, followed by sharp breakouts.

The pattern:

Sideways accumulation: BCH typically spends 200-300 days in a sideways accumulation pattern.

Breakout: After the accumulation phase, BCH breaks out of the pattern and rallies sharply.

Magnitude of the breakout: The breakouts typically result in a 2-2.5x increase in price.
Is history repeating itself?

BCH has been trading in a sideways pattern since May 2022. This suggests that the accumulation phase is nearing its end and a breakout could be imminent.

Factors supporting a breakout:

Increased development activity: There has been a significant increase in
development activity on the BCH network in recent months.

Growing adoption: BCH is becoming increasingly adopted by merchants and businesses.

Positive technical indicators: The technical indicators for BCH are bullish, suggesting that a breakout is likely.

Potential targets: 3300.