A possible count for BCH shows hoy it might be correcting after a five wave impulse, after that the expected ABC correction with an extended C that could get to as far as $360
When the bottom is reached we can expect a very profitable Wave III. Daily MACD looks oversold with several attempts to make a bullish crossover, but the BTC correction's impact prevented a reversal from upthere.
BTC is correcting so the market most likely will go in phase with him.
Disclaimer: THIS IS NOT FINANCIAL ADVICE, ALWAYS MAKE YOUR DUE DILIGENCE, THE ANALYSYS IS JUST AND ONLY ABOUT TECHNICAL ANALYSIS AND CHARTS PATTERN RECOGNITION, NOT THE FUNDAMENTALS BEHIND, SO MAKE FURTHER RESESRCH IF PLANNING TO INVEST
Looks like it should bounce but you have a potential incoming fork in BTC right now. I think this may continue to sell off... bigger blocks didn't solve the problem. Remember, the one that survives and make gains are the ones solving real world problems. So far, only BTC.
Actually i think that the uncertainty given by the fork could give a chance for BCH to step up, personally I'm not a fan of neither BTC or BCH, in fundamentals i prefer DASH, BTC is slow and expensive, its taking the edge of being the pioneer and that's not going to chance soon, but if BTC doesn't adapts, eventually it will also fail.
BTC is more like the value reserve. Dash? Instamined does not give me confidence that is a morally good fundamental. At least BTC was released in the most true fairness. I know. In any case, after almost 9 years, it seems the world has decided on BTC for a reserve currency. Lightning network coming soon to BTC, so just need to wait a little longer :)