Technical analysis Bitcoin Cash BCH/USD - 14.11.2017
Bitcoin Cash turned out to be an unexpected short-term winner after the information that appeared on the market on the SegWit2x cancellation. We wrote about it in our last analysis. The rapid rise in prices and even faster decline - that is what the behavior of the BCH was like recently. It looks like a typical Pump and Dump. When there was enough noise around the BCH there were people who quickly dropped the price to get a clean profit.
Bitcoin Cash currently ranks 3rd in the Cryptocurrencies ranking. Its price in the last 24h increased by less than 3.8%.
Looking at the graph we have the impression that we see the landscape after the battle. Those who have bought high are now imprisoned in longs. The price for this moment is moving between 1227 USD and 153 USD. Breaking in one direction will show us the direction. We see that the price is trying to go north, but the volume getting smaller does not forecast well. Below are the scenarios for the coming days.
Bitcoin Cash will likely sustain given the recent fork that "fixed" the difficulty adjustment issue:
The miners are obviously pool hopping (www.fork.lol) to get the most profit - hopefully this does not cause a death spiral, as that would be detrimental to everyone.
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