Bcash, the trash, is either a good buy or goodbye...
Hello everyone!
So BCH hit the 0.618 FIB which happened to be the 2nd of the 3 support zones. It also hit the broken resistance line which turned into support.
Now BCH has slow blocks, which makes it a lot easier to pump (it means users can't really deposit coins into exchanges to sell them, so the already restricted supply, gets more restricted). Miners sold their coins and are probably accumulating to pump it again. If the support breaks, next stop at 0.12.
Also, the RSI hit oversold and bounced of its trendline, which is slightly bullish sign, even though it is trending down.
So BCH hit the 0.618 FIB which happened to be the 2nd of the 3 support zones. It also hit the broken resistance line which turned into support.
Now BCH has slow blocks, which makes it a lot easier to pump (it means users can't really deposit coins into exchanges to sell them, so the already restricted supply, gets more restricted). Miners sold their coins and are probably accumulating to pump it again. If the support breaks, next stop at 0.12.
Also, the RSI hit oversold and bounced of its trendline, which is slightly bullish sign, even though it is trending down.