Bitcoin Cash invalidates a potential bullish reversal zone. Should buyers be optimistic?

If you have been eyeing Bitcoin Cash at $110, you may have to wait a little longer. A contagion of risks brewing in the market forced a sharp selloff, pushing Bitcoin Cash to below $110. The level was crucial support, with the token forming multiple bottoms. BCH tested a lower level at $87 but has since recovered to above $100. Should you be optimistic?
Cryptocurrencies are known for sudden moves in the market. Just as the slip below $110 happened unexpectedly for BCH, a recovery above the level