My friend said that BCH is currently just breaking into the ascending channel and I bought some because I think BCH has not developed for a long time
Momentum is for going up. It looks like the run up is not over yet. The recent high of 0.292 BTC could be tested.
Now is the best time to buy as it's during a dip. It's too late to get in at a good price after its started the run up to a high.