🎙️【BCH Morning Briefing｜August 6th 08:30】

Good morning everyone, here is the latest market report for BCH.

📉Current price: BCH is at 550.39 USD, down about 4% in the last 24 hours.

📊Intraday price range: lowest 542.19 USD, highest 582.88 USD, overall fluctuating downward.

📈Market structure analysis:

Yesterday, BCH surged to 582 USD and then retreated, continuing the weak trend this morning, with short-term momentum weakening. It is currently in a high-level pullback consolidation phase, with increasing market wait-and-see sentiment.

📌Key technical levels:

•Support range: 542 to 545 USD, if broken, it will open up downside potential;

•Resistance range: 560 to 565 USD, breaking through is necessary to restart the upward trend.

🎯Strategy recommendations:

•Short-term traders can pay attention to the long and short game near 550 USD, be cautious about chasing highs;

•Medium-term holders are advised to patiently wait for stabilization or a second confirmation of support before increasing positions.

📣In summary: BCH is currently in a consolidation phase after a high surge and subsequent retreat, suggesting a defensive approach and patience in waiting for direction.

👉Want to keep track of the technical structure and trading strategies for BCH and mainstream coins? Remember to follow me, as I bring you data analysis every day, seeking stability for victory!

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