@PanteraOnNoiseApp
more from that month
While prices can go lower for the short term, when zooming out there are certain levels where buying makes sense. I don't advise to buy anything, this is not financial advice. The price can drop further, yet, it can also go higher. This chart in the first image I linked is the last two years chart, and presents two cases of accumulation. However, zooming out more, we find the clear picture. BCH will not just keep dropping, but wil also rise again. Yet, 2022 seems it will be crucial. The less BCH drops this year the better it will be. Considering the full chart, perhaps the action prior to 2019 should be ignored for TA. First chart is binance BCHUSDT, second one is BCHUSD Coinbase. Perhaps the Coinbase chart is more relevant. Both charts are weekly. The reason for the overall market negative reaction is governments and CBDCs as there are fears the US and EU will toughen their stance on crypto.
2 comments
Thanks for telling us the reason, I thought something else is happening in this world
The reason is probably this. I don't recommend anything, though. It looks bad already at these prices, since most that bought in crypto bought at higher prices than what we see today. Those that are selling are usually panic sellers and weak hands, but the prices will eventually recover.