BCH is now around 212 u. Today it’s down nearly 3%, and this week it’s been a big drop too—down more than 5% over the week.

But if you stretch it out to a month, the book is still up—up by nearly a tenth. That suggests there was a rally earlier, and this week has started to give back. At the 24-hour high it was around 217, and at the low around 209, so the swings aren’t small.

This kind of pattern—up over a month, but then a recent week giving back a chunk—is basically the typical setup after a spike, when profits are taken. People who entered earlier start to gradually exit, slowly unwinding part of the gains.

The circulating supply is already about 95% of the total, so basically mining is almost finished. The pressure from new added supply going forward can be ignored. Price will mainly depend on sentiment and capital inflows/outflows.

At this level, if it can hold steady in the 205 to 210 range, it’s likely to re-range after the pullback. If you want to buy the dip, you can look around here. If it breaks below 200, it means this adjustment phase may not be over yet—you’ll need to look further down. Don’t rush to chase at this point; wait until the selling pressure in this wave cools off. #bch $BCH