Is BCH going crazy? $600 is just the starting point? Don’t underestimate this surge!
While mainstream coins are still hesitating and consolidating, BCH has quietly lifted its head, with prices once breaking through the $500 mark. But the question is: is this surge a flash in the pan, or just the beginning?
Let’s not rush to conclusions, let's take a look at a few key details behind this:
Explosive Trading Volume
In recent days, BCH’s hourly trading volume has surged fivefold, with a crazy influx of capital, especially from some "smarter money"—institutional funds, which are quietly taking advantage of the heat from the Bitcoin ETF.
Impressive Contract Data
The open interest has reached a six-month high, with total trading volume surpassing 627 million; it hasn't been this hot in three months! This reveals one thing: this isn't retail investors passionately calling out, but rather someone heavily betting on it.
Technical Structure Breaking New Ground
The daily symmetrical triangle is about to complete its buildup, RSI has broken upwards, and a bullish crossover has appeared on the Ichimoku chart, with the cloud turning bullish. This is a standard precursor to a reversal; the market is standing on the eve of a trend change.
Beware of the Critical Point!
As long as it can cleanly close above the 550-570 range and hold steady, $600+ is not a dream, and even higher expectations will be ignited. But be cautious, if it spikes again and then retraces, it could trigger short-term technical profit-taking pressure.
