I am Qi He, I just monitored the BCH trend for an hour and found an interesting contradictory signal. The market is clearly rising, but the MACD has quietly given a 'death cross' warning. The current price is hovering around 599, with strong resistance at 608 and a key level at 586 below. Which way will it break tonight? What should those holding coins do? Don't panic, let me clarify it for you!
News: The big shot hinted at a long-term bull market
Today, OKX boss Star's comments are quite interesting. He said that in the coming decades, half of global economic activity will be on-chain! This is not just a vision, but a tangible trend. For BCH, an established coin, if the underlying ecosystem is utilized more, the price cannot remain flat forever. Short-term fluctuations do not change long-term value, but short-term players need to learn to make decisions based on news.
Technical analysis: Hidden in the upward trend is a 'pullback alarm'.
From the hourly chart, BCH is overall in an upward channel, and the price is steadily above the yellow key level of 586, indicating that the bulls are still holding strong. But pay attention to the MACD in the sub-chart; the white and yellow lines crossed below the zero axis, and the green energy bars are shrinking, which is a signal of weakening short-term momentum! In simpler terms: the price is still rising, but the strength may not keep up, so be cautious of a sudden reversal and market correction.
The two pressure levels above are very clear: 608 is the short-term rebound pressure. If it breaks through, the next target will be 633; below, 586 is the lifeline. If it breaks, it might quickly slide towards 556 or even 520 support. The current price is at 599, just stuck in the middle, like walking a tightrope.
Qihe's view: Tonight, it is highly likely to first surge and then retrace!
My judgment is: Tonight, the market may first test the 608 pressure level, but the probability of breaking through directly is low. If the volume doesn't keep up, it is very likely to pull back and test around 586. The reason is simple: MACD crossover + overbought signal, a correction is needed to wash out floating capital. But remember, as long as 586 doesn't break, the trend remains bullish! If it breaks 586, short-term players need to be alert for a deeper pullback.
This wave of market movement is not over yet. For more detailed positions and actions, find Qihe; specific ambush points will be announced in the village! I not only provide signals but also teach you how to combine technical analysis and news to judge opportunities yourself, refusing to be a retail investor!
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