Bitcoin Cash – Why Buying BCH Before a $624 Breakout Is Risky

◼ Market Overview

◼ BCH trading in a range since July 2024: $272–$624

◼ Since Nov 15, BCH up 22.2%, BTC down 7.4%

◼ Bulls unable to break long-term resistance at $624

◼ On-Chain & Volume Signals

◼ Rising OBV (On-Balance Volume) indicates stronger buyers over time

◼ Breakout is possible but not imminent

◼ Investors should avoid buying above $600 until $624 is cleared and retested

◼ Short-Term Trading Insight

◼ 1-hour chart range: $575–$597

◼ Psychological level $600 offers potential short opportunity

◼ Demand zones at $540–$580 may cause temporary bounces

◼ Move above $605 invalidates short-term bearish setup

◼ Final Take

◼ BCH gains since mid-November are notable but buying near range highs is risky

◼ Short-term ranges may provide day-trade opportunities, not swing trades

◼ Traders should watch for a confirmed breakout above $624 for longer-term positioning