Yesterday's BCH Market Recap
BCH opened with a downward trend yesterday, hitting a low of 245 before rebounding to the 253 consolidation zone. The price remained in a narrow range, accumulating energy for the next move. By evening, volatility increased—price briefly tested 260 but faced sell-pressure, gradually retreating to 250. As of 9:30 AM, BCH hovers near 254, with bullish momentum showing signs of weakness.
Technical Analysis
Daily Chart Overview
- Bollinger Bands: Remain expanded, but price has re-entered the lower轨道, indicating reduced volatility.
- 5-Day MA: Acts as dynamic support at 250.5.
- Key Resistance: Upper band (near 258) caps upward attempts; momentum is weaker versus yesterday.
- Indicators: MACD/RSI/Stochastics suggest a neutral-to-sideways trend mid/long-term.
4-Hour Chart Insights
- Price broke below the Bollinger mid-band during yesterday’s pullback, now fluctuating near it.
- RSI: Flat around 50 (neutral).
- Stochastic: Golden cross below 70, signaling potential short-term upside.
Trading Strategy
Range-Bound Playbook:
- Long Entry: 253 → Target 256–258 (Stop-loss: 250).
- Short Entry: 258 → Target 254 (Stop-loss: 261).
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Key Levels:
- Support: 250
- Resistance: 258
FAQ Section
Q: Why did BCH fail to sustain above 260?
A: Profit-taking by traders near a psychological resistance level triggered sell orders.
Q: Is BCH in a bullish or bearish phase?
A: Current indicators point to consolidation—trade the range until a clear breakout.
Q: How reliable is the 250 support?
A: The 5-day MA reinforces this zone, but a close below 245 would invalidate the bullish structure.
Pro Tip: Market-aligned strategies outperform emotional decisions. Stay disciplined—set stop-losses and stick to your plan.