BCH/USDT — Advanced Profit Booking Setup
Entry Zone: $545 – $555
Position Size: ~1.80 BCH (for a $1,000 allocation)
Take Profit Targets (TP):
TP1: $580
TP2: $610
TP3: $650
Stop-Loss: $530
Well-Researched Rationale
Technical & Whale Activity
BCH recently surged past $570, fueled by the largest weekly whale accumulation in weeks—66,040 coins added by big holders. This marked strong institutional support and bullish momentum.
Technically, BCH remains above its 20-day moving average (~$530.70), with an upper Bollinger Band near $587.10 indicating potential for further upside if resistance breaks cleanly.
However, caution arises from bearish technical indicators: weakening volume, a drop from channel highs, and MACD showing negative momentum, suggesting a possible retracement toward the lower channel or $500 support.
Market & Sentiment Context
The recent halving event continues to reinforce bullish sentiment, even as the BTC market faces broader correction pressures. RSI around 55 signifies muted momentum with room to move higher.
