Using Bitcoin Cash's drop from $1,216 to $689, some important Fibonacci Retracement levels were highlighted on the 4-hour timeframe. The chart showed that gains made over the past couple of days were restricted below the 61.8% Fibonacci level at a little over $1,000. Rejection at this upper ceiling pushed BCH south and toward the 50% retracement level present at $964.2, but this area was yet to establish itself as a strong support zone.
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