• Bitcoin Cash bulls terrorize the crypto streets but is there any end in sight?
• BCH oversold but the whales are still actively buying.

What happens when the native cryptocurrency of a forked network outperforms that of the original network? That is Bitcoin Cash’s [BCH] current reality judging by its weekly performance.

Is your portfolio green? Check out the Bitcoin Cash Profit Calculator

Bitcoin Cash holders have been over the moon about its performance since mid-June. For perspective, BCH traded at $234, which represented a 115% upside in the last seven days.

BCH managed to outperform its more popular counterpart, Bitcoin. Its press time price also represented a 156% premium from BCH’s lowest price in the last four weeks. The cryptocurrency, at the time of writing, was trading at its 2022 mid-May levels.

BCH’s parabolic move has already pushed it into overbought territory according to the Relative Strength Index (RSI). But does this mean that it is slated for a sizable cool down?

A major selloff might be on the cards for Bitcoin Cash especially after the robust rally achieved in the last two weeks. However, understanding the reasons behind the current rally might offer insights into what to expect.

No official announcement has been made so far that is enough to trigger a major rally. Nevertheless, every once in a while we see a surge in an unexpected cryptocurrency. That is because whales rally behind a cryptocurrency that they can push up and that tends to attract the retail segment.

BCH attracts more long and short positions

Short liquidations may also be pushing pric

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Author: Michael Nderitu

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