Bitcoin Cash Shrugs Off Dip, Continues Massive Rally

In a week where Bitcoin Cash saw over 100% gains, the price of the token briefly cooled off over the weekend, dipping back down to the $268 level and is now currently fluttering around the $300 level again. 


Zoom out, and we can see that despite being in the "overbought" zone (RSI above 70), traders are still piling into BCH. 


There is still a massive bull flag playing out on the chart above. Volume continues to pour into Bitcoin Cash, being the #7 most popular cryptocurrency by trading volume on the day. It seems that the lows seen earlier this year are being left in the dust, as a new base is being established with the rise in interest in BCH. Additionally, as many are speculating, as the price of Bitcoin continues to rise so will the price of its little forked brother. As time draws on, this price actually looks more and more sustainable and not just a flash in the pan.


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dot com boomer - writing mostly on crypto, stocks, entertainment, etc.

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