BCH just like the other top cryptos have been steadily gaining all summer, but unlike the other cryptos BCH has bottomed out. It doesn’t have anymore room to bleed unless theres a total economic crash. This $213-$222 support level was the bottom that BCH found early in 2020 after the coronavirus crash. So with this in mind, I don’t think BCH can fundamentally fall any lower unless corona part 2 breaks out all of a sudden. Another factor adding to the confirmation of a bottom is the backtest of the downtrend on the 1st of Sept. I’m expecting a continued consolidation along this zone until Bitcoin makes its correction and starts a reversal upwards. No long targets yet this short still needs to fizzle out.
As always please do your own research, I am not a financial advisor.
As always please do your own research, I am not a financial advisor.
