BCH for the next 24–48 hours: entry on a bounce from support $550–$500 or on confirmed breakout above $607–$620; target on breakout — $650–$700, on bounce — $580–$620; set stop-loss below local support considering the timeframe and slippage.
Key levels: nearest resistance around $607–$620, important support in the range of $470–$550; current market dynamics show pressure on resistance and pullback risks. Current quote on major exchanges around $520–$540 (check in real-time on your exchange).
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Entry strategies
- Conservative entry (swing, 4H–Daily): wait for a confirmed breakout and holding above $620 on 4H/daily candle close; enter after retesting the broken level or upon volume increase. Target: $650–$700; stop-loss: below $590 or under retest (depending on risk).
- Aggressive entry (intraday, 1H): enter on a bounce from the $550–$500 zone upon confirmation of a bullish candle and volume increase; short-term target $580–$620; stop-loss: 3–5% from entry considering slippage.
- Breakout downwards: upon breakout and holding below $470 — consider shorting/realizing losses; target upon decline — the next strong support around $320–$350 (further risk of decline).
- Targets: for breakout upwards — $650–$700; for a bounce — $580–$620.
- Partial take-profit: lock in 30–50% of the position at the first target level, move the stop-loss to breakeven on the remaining part.
- Stop-loss: calculate considering volatility: for 1H — tight 3–5%; for 4H/Daily — 6–12% or below key support.
- Position size: no more than 1–2% of capital on one trade for highly volatile altcoins.
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Practical checklist before entry
- Check the trading volume — a breakout without volume is unreliable.
- Check the dynamics of BTC — strong correlation; a decline in BTC increases the risk of a BCH pullback.
- Ensure there are no major news events or listings that could drastically change the picture.
- Use limit orders and account for slippage on the chosen exchange.
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