BCH is in a positive trend channel. But one has to be aware, if the trend channel is broken. If prices won´t continue their rise, then it is possible and more likely that we´ll have a little pullback to lower fib retracements.
Can´t say for the moment if this would be a good opportunity to accumulate more coins or if the short rallye ends.
on a percentage basis, the pullback from OCT 29-31 is practically equivalent to Nov 3- Nov 6, There is also a lot of selling pressure on this for the next 90 days as a result of a poor decision by greyscale investments, they'll be unloading about 500k give or take worth of BCH every day for the next 90 days give or take.
short term:
- selling pressure due to greyscale and BTC fork with people wanting their free money
Longer Term:
- Coinbase to release BCH in January - depending on the customer, this could lead to some selling pressure too, but at least between now and January, they have the ability to educate themselves on BCH as it's more Core than ALT.
Luettis
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@TeamBigWin, thanks a lot for this information; it´ll hellp to understand some movements. For the moment I think BCH will continue to go up for a while.
short term:
- selling pressure due to greyscale and BTC fork with people wanting their free money
Longer Term:
- Coinbase to release BCH in January - depending on the customer, this could lead to some selling pressure too, but at least between now and January, they have the ability to educate themselves on BCH as it's more Core than ALT.