BCH reveals a key signal! Is it going up or down tonight? Nanxi tells you the answer!
First, let's look at the present: BCH is currently around 545, stuck at a key position. The pressure above is at 567, and further up at 588 is the high-pressure line; below, 527 is the first support, and 508 is strong support. The current market feels like walking on a tightrope, with both bulls and bears watching.
But pay attention to the details: the MACD yellow and white lines have slowly pressed down to below the 0 axis, and the death cross shows signs of turning into a golden cross. Is this a precursor to a rebound or a trap in a downward continuation?
Where is the market heading? These two positions will determine the outcome!
From the hourly chart, BCH is still in an overall downtrend, but there is short-term rebound demand. The key
lies in these two positions:
If it stabilizes at 545 and breaks through 567 with volume, it may test 588 in the short term, but remember—this is a high-pressure area, and chasing highs carries significant risks.
If it breaks below 545 and continues to increase volume, then 527 will likely not hold, and 508 is the real phase bottom.
The current situation resembles a "compressed spring"; after a significant drop, it will bounce, but how high it bounces depends on whether the main force is willing to follow.
What should those playing BCH do now?
If you are a short-term player, remember Nanxi's words: "A rebound is not a bottom; a bottom does not rebound."
Currently, you can make small positions for a rebound in the 545-527 range, but make quick entries and exits; don't be greedy.
If it rises to around 567-588, it is actually a good time to layout short positions, with risk control above 592.
If you are a medium to long-term player, it is recommended to watch for now. The overall trend still leans bearish, and around 508 is the area worth gradually positioning.
Nanxi's view is that the direction of BCH is not yet completely clear; although the MACD has a golden cross below the 0 axis, the volume has not truly cooperated.
Want to know if it’s going up or down? Follow Nanxi; tonight in the village, I will combine more on-chain data and news to give you a clear breakdown. The crypto world is not lonely; Nanxi will accompany you to steadily progress.
Nanxi's strength is not boasting or making empty promises; it only teaches you practical survival skills. Follow Nanxi; fans who want to keep up can find Nanxi Village, where Nanxi shares entry points and exit timings every day! #BCH $BCH
