🎙️【BCH Evening Market Report｜August 4th, 20:00】
Good evening everyone, here is the latest market update for BCH.
As of 8 PM tonight, the current price of BCH is approximately $552, up about 2.3% from yesterday, with an overall upward trend throughout the day.
📈 From the market structure perspective, BCH successfully stabilized after retesting around $520 yesterday, and then gradually rebounded, officially breaking through the previous high resistance zone in the evening, forming a relatively clear reversal signal.
📊 From a technical perspective:
• RSI has returned to a neutral to strong area, with momentum warming up;
• Trading volume is steadily increasing, supporting this round of rebound structure, showing that bulls dominate the short-term rhythm;
• Currently, the key resistance level is around $552, and if it can break through with increased volume, it is expected to continue challenging the $560 mark or even higher targets.
📍 In terms of support levels, we still pay attention to the area between $520 and $522, as the technical foundation for this round of rebound; as long as this range is held, the overall trend structure will not be disrupted.
🎯 In terms of operational recommendations:
• Holders can continue to patiently hold, paying attention to whether the price stabilizes above $552;
• Short-term traders are advised to wait for a breakthrough with increased volume before choosing to go long, targeting above $560;
• If there is a decrease in volume and a pullback to around $530, one may also consider long opportunities on the retracement, but be sure to set a stop loss.
📣 In summary: BCH's current trend is strong, testing key resistance levels, and if it breaks through with increased volume, the market is expected to continue rising; operationally, follow the trend and control the rhythm.
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