BCH shows a perfect example of Wyckoff prime cycle .
People are ignoring coins like BCH for underperforming for the most part but majority are forgetting that the market cycle is at its near end and coins like these are the ones which really shine during the last rally of every market cycle.
BCH had started to show bullish intent from the beginning of 2021.
According to Wyckoff Cycle ,BCH has done its accumulation and now it is making its way higher and higher which is quite evident from previous April-May rally .
Using the rally prior to BTC capitulation in 2018, placing the 0.236 on it and using the bear market bottom,4.236 extension reaches to 10.6k .
In 2017 bull run,BCH had a similar correction before its major leg up.
In 2021 BCH is similar quite to its 2017 setup .
In case BCH reaches out to its full fib extension using the top and bottom on 2017 market cycle,it could possibly extend to 18k but that is only possible if 10k is breached and even 10k looks very far from current levels.
But it would better align itself with the 2018 bear market drop which was a whopping 98% and if prices fall from 4.236 to the 500usd reigon it would be a 97% drop.
500usd region could be a possible bottom in the next bear market based off the current structure that BCH is following
#NFA
People are ignoring coins like BCH for underperforming for the most part but majority are forgetting that the market cycle is at its near end and coins like these are the ones which really shine during the last rally of every market cycle.
BCH had started to show bullish intent from the beginning of 2021.
According to Wyckoff Cycle ,BCH has done its accumulation and now it is making its way higher and higher which is quite evident from previous April-May rally .
In 2017 bull run,BCH had a similar correction before its major leg up.
In 2021 BCH is similar quite to its 2017 setup .
But it would better align itself with the 2018 bear market drop which was a whopping 98% and if prices fall from 4.236 to the 500usd reigon it would be a 97% drop.
500usd region could be a possible bottom in the next bear market based off the current structure that BCH is following
#NFA
