In this round, BCH first has a running channel on the daily level 【Figure 1 white】. After hitting a low around 250 in 2025, it began to oscillate upward 【Figure 1 yellow】. After reaching a high of 620, it formed an oscillation range between 520 and 620 【Figure 1 purple】, and created a triple top. If it breaks below the upper edge of the white channel, the price will further slide (this upper edge coincides closely with the position of 530). This is the big picture.
On the 4H level, it started to decline from the high point of 650, creating a downward trend line. At the same time, around the important position of 530, it reformed an oscillation range between 460 and 560.
These two elements together form a breakout of the upper edge of a converging triangle. If the backtest does not break the yellow trendline, a new round of testing at the 560 position is expected [blue route]. If it breaks below the yellow trendline and falls back into the triangle for fluctuations, it may test the lower edge [red route]. This is the fundamental analysis.
On the 1H level, a range of 518-560 has formed with fluctuations (currently just this range). If 518 can withstand the test, it may continue to rise northwards [with a minor resistance around 532 and major resistance around 536]. If it breaks below the 518 support and falls near the yellow trendline at around 500, it may reach near 483.
In operation, we have previously shorted from 538 to around 520, then added a long position around 519, taking profit in batches at 535-543 (actually reaching around 550). Yesterday, we shorted again near 557, taking profit at 524, keeping up the gains.
Regarding the future market, those who are bullish can go long around 518, with profit targets at 528-532-535. If the market approaches around 550, they can switch to a short position. For those who are bearish, they can enter short positions at 532-535, add to positions at 550, and aggressively short at 560, taking profits at 518-500-485.
Regardless of bullish or bearish positions, maintain a stop loss of about 3 points.
Do not go all in with full positions, this strategy is for reference only and does not constitute investment advice.
Friends with their own ideas can adapt my analysis and levels to their own operations.
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