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BCH: Was the Bearish Movement predictable? #71

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Avatar for InvestorOmar
Written by   26
6 days ago

Well if you ask me, it was totally predictable due to my use of technical analysis and maybe a little bit of fundamental analysis but it was surely predictable.

What's the beauty of knowing an upcoming trend on the crypto market are the amazing gains and profit you make. Many Holders in the crypto space that have most of their portfolio filled with those top Crypto coins Such as BTC,ETH,BCH and the list goes on would probably be in a massive loss right now with the exception of those that had the idea of an upcoming bearish market.

Having an idea on the upcoming bearish market could have saved you a whole lot of cash and even give you gains ontop of your initial capital if you took the right steps to overcome the bearish movements in general, we'll get to that shortly....

I made an analysis on BCH on this post were I spoke about the next possible bearish movement especially as there was a retracement on a resistance zone at $384. Right from that moment, we were already bearish, but just at the early phase when the price dropped to about $295 but we still had hope on a price increase which came about and we went bullish to the point where we were priced at $347. As the time goes on, the bearish movement became quite clear and inevitable.

Back to the question, Can we be profitable on a bearish market? ofcourse we can. You have varying options to choose from in regards to how to use your Crypto on a bullish market.

  • You could choose to either convert your Crypto coins into stable coins like usdt,usdc and the rest to prevent a huge loss on your portfolio.

  • Investing in developing projects is major jab on gaining massive profits. But what to be aware of is the fact that to be successful on investing on developing and upcoming projects, is the risk that accompanies it as there's a really high risk of investing on a scam project.

  • Last option on the list, which is my favorite is to trade your coins on various trading platforms out there. This could also be very rewarding if you're to use a good strategy and follow it up with a good and proper risk management.

The current price of BCH is at about $197 after all the bearish movements. The price of BCH is has not only gone bearish but it even went as far as breaking the support zone at $264 and also seems to have created a resistance zone at $227.

The 200 Exponential Moving Average (EMA) and 50 Exponential Moving Average (EMA) are also not supporting a bullish movement right now as we still are unable to cross above it.

Note: A successful crossover usually supports a bullish movement 60%-80% of the time. And it becomes even more reliable if there are other strategies that are used to support it.

If you have plans to invest in projects on Smatbch then I'll say it's a good idea but just to be on a clear side and to make things clear for the readers of this post, Alot of projects coming up nowadays are scams. Even though investing in projects are things we all should consider doing at some point of time, You should always remember to Do Your Own Research and invest on projects with a bright future not on a rug pull shit scam projects.

DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for education/entertainment purposes only...

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Avatar for InvestorOmar
Written by   26
6 days ago
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Comments

What a Helpful article overall. Good one sir Omar.

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