That aside, the current move to the downside from the 0.5 fibo will most likely be countered with a run up to the sub-0.618 fibo you can see on the chart. This pattern played out before in the data on Aug 10. I have been holding BCH since the 190 , but will probably fetch some more as it meets the 0.382 fibo on the way down, and perhaps take a large position once we get upward confirmation going back around through the 0.5 fibo. I will then sell these two positions once we start crossing fibo lines, notably the 0.618, sub 0.5, and sub 0.618.
As you can see, we are at the 0.5 fibo support in the BCHUSD chart. This support will puncture if we see a fall in the BTCUSD chart.
Meanwhile, in the BCHBTC chart I can envision another 30% drop to the trend line if we fall below the min fibo level to finish consolidation.
What all this means, in dollar terms, BCH is facing downward pressure from dollar losses in the BTCUSD chart TOGETHER with consolidation pressure in the BCHBTC chart. Combined that could be about a 40% haircut in dollar terms from where we are now. I sold my position at the max fibo level after picking up in the trading zone I discussed in the BCHUSD thread.