$BCH The main force is still present Next step is to wait for a breakthrough
1. Overall trend judgment (Core)
Current price $605.0, today's pullback -3.18%. This is a healthy retreat before the breakout, aimed at digesting the profit plates below and the trapped plates above. As long as it does not break below the key support, the overall upward trend remains intact.
The mid-term trend of BCH is bullish. It is currently in the process of forming a “cup and handle” or ascending continuation pattern. The current pullback is to build strength to challenge the $700 mark.
2. Key levels
Resistance level (selling pressure area):
Short resistance: $630.0 - $660.0. This is the “ceiling” that has been attempted to break through multiple times recently (October-December) without success. Breaking through here will open the path to this year's high point.
Strong resistance: $720.0. The annual highest point. This is the ultimate goal for long-term bulls.
Support level (defensive area):
Lifeline: $560.0 - $580.0. The lower edge of the recent oscillation box, also a dense support area of the MA moving average system. Bulls are very likely to organize defense here.
Trend bottom: $500.0 - $520.0. The key low point of the ascending trend line. If it breaks below $500, it will damage the upward trend and turn into a wide oscillation.
3. Trading volume signals
Signal: Upward movement with volume, pullback with reduced volume.
In the previous upward process, the bullish candlestick volume matched well; although today's bearish candlestick pullback has a magnitude of 3%, there has not been panic selling with huge volume.
It's a washout nature. The main funds are still present, and the current decline feels more like clearing floating chips rather than unloading.
4. Operating strategy
For holders: Hold firmly.
BCH belongs to the “old mainstream,” with strong explosiveness but slow to start.
It is recommended to firmly hold $560. As long as it does not effectively break below, continue to hold for a breakthrough; if it rebounds to around $650 and is blocked again with insufficient volume, consider reducing positions in waves.
For those without positions: Buy on dips.
Strategy: Patiently wait for the price to retrace to the $570 - $580 range.
Buying: Build positions in batches, do not chase high prices.
Stop-loss: Set below $550.
Logic: Aim for another attack after the support of the upward trend line, targeting $700 directly.
5. Summary
BCH is currently “gathering strength for an attack,” $560 is the defensive line, a pullback is an opportunity, patiently waiting for a breakthrough!