As trading on Gdax went live, there was a round of selloffs for fear that a huge dump will come. I believe most people on Gdax are investors, not shills of any coin in particular. Therefore, I believe the selloff is temporary. It would be very amateurish to sell into a dump.
From the current rally, we see that BCH retraces to 0.5 and 0.618 levels. Unfortunately, Wave V, which I thought could've reached $4777 circa, was interrupted by this selloff.
During this selloff, UO generated a buy signal. I think to finish off the correction waves, there'll be one more drop to $3450 circa before leveling off for the next round of impulse waves -> yes, I believe there'll be one coming around soon, because BCH is currently very bullish. It's not a 6000 BCH sell wall on a single exchange will erase (btw, the sell wall is now only half its original size -> some people sadly sell into the dump).
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