While the majority of retail traders remain distracted by memes and hype coins, Bitcoin Cash (BCH) is quietly building one of the cleanest bullish structures on the weekly chart. After posting a +14% gain this week, BCH is now pressing against the $600 psychological resistance zone, currently trading around $599.

According to a well-known analyst on X, BCH is forming a textbook bullish flag pattern, a continuation structure that historically precedes strong breakout moves. Two major upside targets have already been identified:

🎯 $850 and 🎯 $1,000.

And this time, the technicals are being backed by something even more important… on-chain strength.

Bullish Flag Structure Signals a Potential Expansion Phase

On the weekly timeframe, BCH has maintained a clean higher-low sequence while coiling just beneath long-term descending resistance — a trendline that has capped every major rally since 2023.

What’s changed this time?

Pullbacks are shallow and quickly bought

Each retracement shows strong demand absorption

Price is compressing tightly under resistance — a classic pre-breakout behavior

The current structure shows BCH consolidating inside the flag while respecting the rising support trend. Historically, once this type of flag resolves to the upside, the breakout tends to be fast and explosive.

The first major supply zone sits near $850, followed by the psychological and historical resistance at $1,000. A confirmed breakout with volume would signal full trend control shifting to the bulls.

Hashrate Explosion: Network Security at Its Highest Since 2017

This is where the story becomes truly interesting.

The Bitcoin Cash network hashrate has surged to its highest level since 2017, now exceeding 7.64 EH/s — a massive milestone for a Proof-of-Work blockchain.

Why this matters:

Higher hashrate = stronger network security

Strong security = higher miner confidence

Miner confidence = long-term price conviction

Since mid-2025, BCH hashrate has transitioned from slow growth into a full breakout phase, aligning perfectly with the current technical breakout pressure on price. When on-chain strength and technical structure align, large trends usually follow.

Key Price Levels to Watch

Major Resistance: $600 – $620

Breakout Targets: $850 → $1,000

Strong Support: $516

As long as BCH continues to hold above $516, the bullish structure remains fully intact. Sustained strength above $600 could rapidly accelerate momentum toward the higher targets.

Final Thought

This is exactly the type of setup that moves hard when no one expects it. While most traders wait for confirmation at $750+, smart money positioning typically happens before the breakout becomes obvious.

$800 is not a fantasy number anymore — it’s structurally justified.

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