Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Yet this could be precisely why such a retracement could be risky for the buyers.
The RSI began to form a bearish divergence while BCH fell close to 15% from the high at $329. However, the price action remained strongly bullish. The Fibonacci retracement levels were drawn after BCH flipped its structure to bullish on the 1-day timeframe.
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