BCH witnessed an upside break of the congestion last Wednesday, but the follow-through has been anything but encouraging. Contrary to expectations, the cryptocurrency failed to see a sustained move above $2,800 on Thursday.
[1]The price action is referred to as "fakeout" – that is, when prices fail to rally following a bullish breakout and actually drop. A fakeout usually ends up turning the tide in favor of the bears.
[2]
Do you think BCH looks good, heavy or panic to sell?
Source :
https://www.coindesk.com/bitcoin-cash-looking-heavy-after-bull-move-fails/