welcome back it's the 19th of november 2020, thursday. The fourth day of the week we are at number seven bitcoin cash with the ticker b c h. So for bitcoin cash against bdc, we are in a you know: we've been falling against uh bdc for a very long time, uh. Ever since getting listed ever since 2018., you know bitcoin cash has been on a downward trajectory um against bitcoin right. It has already lost 92 percent of its value against btc uh. Right now you know we're still on rampage towards the downside. We still don't know how much lower things are going to go way at the top. Here we were at zero, almost at 0.2 right now. We are at 0.01, so you know 90. Over percent now we've dropped 90 over freaking percent against btc, right 92 percent to be exact, and so things are just not looking good for bch at this point of time. How much lower are we going to go? I don't have any targets: uh. Will we break 0.01? Potentially it could break down to 0.01. We could break to uh sub 0.01 to like zero and double zero. Nine, maybe something like that here before we see any sort of a reversal. Uh things are moving into oversold territory on the rsi and yeah. Potentially we could still drop level four um bitcoin cash against bdc, because right now bitcoin is very oversold. Sorry bitcoin is overbought, and so if bitcoin were to start correcting, it is going to pull bitcoin cash's price.
Even lower things are gon na drop, even lower, and so uh things are just not really looking that good for bitcoin cash. At this point of time, like i was saying um, you know in all the videos usually to gauge the true strength of a coin. Look at the btc pair right. Look at the basic pair. What do you think about bch yeah it's, not it's, not ready, yet for a move towards the upside, all right, let's move on to bch against usd, but before that, please give this video a like. If you enjoyed it subscribe to the channel – and let me know what you think about bitcoin cash in the comments below let's check out last week's comments, uh david says: there's a lot of cool stuff happening on busy hitch i'm aware of it. Coinchaser says i, like. I really like all your content skinny and always never miss the 50 video every week. Sometimes i become opium addict to your video. If waiting for the top 10 coin, keep the good work dude. Thank you very much for the kind words dd says honestly. I hope it falls more i'd love to buy around 100 200 or even lower. Possibly, i think – okay, okay, okay, um yeah, fair enough, potentially bitcoin cash against usd right 247. Will we ever drop to yeah? We might we might we just might if bitcoin does collapse, then very likely a bitcoin cash is going to follow, suits right uh.
The thing is, my biggest fear is that um we drop all the way down taking out the lows over here. I don't think it's going to happen, though it'll be 73 dollars here. I i really doubt that we're gon na take out the lows at 73, but um you'll be very careful about going to trade too soon uh bitcoin cash is just. I don't know what the bitcoin cash worlds are trying to do, there's just no clear tradable chart pattern for bitcoin cash. At this point of time i don't even know what they're doing here anyway, um richie says ganks of london on chucky dough yeah. I watched it. I love it gangster of london, amazing tv series, the bobby says thanks ven svens vans van gogh and eriksen. So for bitcoin cash against usc, uh yeah, we were um. You know i was uh saying that potentially this could be an a a b, a c right. You could go up, go back up for a d and the e and then palm to be out, or this could be only uh. We could only be halfway there. We could still drop a little bit lower and complete c right. We don't know if this is the c or you know c – would be this entire move down right uh, you know, bitcoin has been rising, but bitcoin cash has not been following bitcoin's rise. Hence you see that the bitcoin cash is losing its ratio against btc on.
I mean i mean the pair that we just saw just now: busy hbdc, yeah, it's, dropping and so uh things are not really that strong for bitcoin cash. Yet not yet, i believe, eventually, one fine day it will become stronger, but right now it is not that strong, yet and so um yeah, i don't, really know what's happening with the wheels of um. I mean what the wheels of bitcoin cash are trying to do. We'Re, just not really sure if bitcoin cash is going to be dropping any lower, are we are we going to take out the lows over here or is this consolidation it and then this is sayonara? Is this a sayonara moment we're not entirely sure so, yeah be very careful about going to trade too soon. For me, i will wait for strength and i will buy into strength rather than yeah buying things if they were to fall right. This would be akin to catching nice, so be very careful about going to a trade too soon, all right, i guess that's it for my bitcoin cash technical analysis. Thank you very much for watching. I hope you enjoyed it.