BCH is it going against the trend? $600 might just be an appetizer, don’t underestimate this explosive potential!
While mainstream coins are still sluggishly hovering in a sideways trend, BCH has quietly begun to gain momentum, with prices once breaking through the $500 mark. Now everyone is pondering: is this surge of BCH a fleeting moment, or is it just the beginning of a grand performance?
Don’t rush to make a judgment; let’s take a look at several key factors behind this.
In terms of trading volume, it’s absolutely insane! BCH's hourly trading volume has surged 5 times in recent days, with capital flooding in like crazy. Especially those more knowledgeable “smart money” — institutional funds, are quietly shifting positions while the excitement over Bitcoin ETF hasn’t faded yet.
The contract data is also quite impressive. The open interest has reached a six-month high, and the total trading volume has surpassed 627 million, a bustling scene we haven’t seen in three months! This isn’t just retail investors getting excited and messing around; it’s clear that someone is making heavy bets.
From a technical structure perspective, new changes have emerged. The daily symmetrical triangle pattern is about to complete its accumulation, the RSI indicator has broken upward, and a bullish golden cross has appeared on the Ichimoku chart, with the cloud turning bullish. This is a typical precursor to a reversal, and the market has reached a critical point for a turnaround.
However, we must also be cautious of the critical point. If BCH can steadily close within the $550 - $570 range and solidify its position, then $600+ won’t be a dream, and even higher price expectations will be ignited. But if it surges again and then falls back, it could trigger short-term technical profit-taking pressure, which could lead to trouble.
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