$BCH
🎙 【BCH Evening Live Report｜August 12th, 21:30】
Good evening everyone, this is the BCH evening market analysis.
Currently, BCH is priced at 589.4 USD, up 0.9% for the day, with a peak reaching 600 USD and a low of 575.9 USD. During market corrections, BCH remains stable at high levels, showing strong resistance to declines, which indicates that bullish sentiment is still robust.
From a technical perspective, the short-term moving averages are in a bullish arrangement, the RSI remains in a healthy range, and there is no significant exhaustion in volume. Key support is observed between 580 to 584 USD; if this level holds, bulls will have the opportunity to challenge the 600 USD mark; if it breaks out with volume, the target could directly reach 615 USD, or even higher. Conversely, falling below support will lead to a consolidation phase.
On the news front, market focus is locked on the upcoming BCH halving event, which historically tends to amplify price fluctuations around the halving, with capital showing a clear intention to position ahead of time.
Trading advice: For those holding positions, you can hold safely until support is broken; short-term traders should patiently wait for a volume breakout above 600 to chase bullish positions more securely; observers can gradually accumulate in the support zone.
In a nutshell—BCH is currently a stage for bulls, holding support is the chip, and breaking resistance is the signal!
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