We want to be bullish in the crypto space. As we have tried to maintain a positive or neutral stance, we have ignored the growing bearish picture in Bitcoin Cash (BCH). You could call Bitcoin Cash (BCH) a lot of different things. Some of those things are nasty, given how the coin fits into the crypto "political" picture.

Keeping emotions out the picture, we are starting to look at Bitcoin Cash (BCH) as a significant altcoin. We are also noticing that BCH is pressing right on a big Fib speed line. In the past, we have seen significant crashes unfold when big coins have failed to move through this type of resistance line. Looking at this picture, we are forced to think that shorting BCH may be the best way to hedge crypto long positions.

Bottom Line: Bitcoin Cash (BCH) could be one big down day away from dragging the crypto space lower. Keep your fingers crossed that it doesn't happen.

DISCLOSURE: Token Metrics is a regular publication of information, analysis and commentary and does not provide individually tailored investment advice.  The Token Metrics team has invested and advised in many blockchain companies. A complete list of the team disclosures, advisory roles and current holdings can be viewed here: https://blog.tokenmetrics.com/disclosures/.