$BCH BCH Real Market | August 23, 22:00 Evening Market Professional Quick Review
Based on Binance spot: BCH589, the recent 24h high 608.0 / low 550.6; Binance contract page shows high 607.86 / low 550.22, both ends of the range are basically consistent, price anchoring is accurate.
Compared to the morning: This morning we provided '585 support, 602 resistance, mainly fluctuating'. The current price still hovers in the middle of the range, not breaking through 602 with volume, the rhythm is consistent with the morning judgment - still 'guarding the lower edge, grinding the upper edge' in a fluctuating advance.
Technical aspects: 1-hour/4-hour moving averages are flat with a slight upward turn, volume has not significantly increased, RSI is neutral to strong but has not yet given a trending signal; if it breaks through 602 with volume, look for 608/615 above; if it falls below 585 again, look back at 580/574 for secondary support. Trading within the range is still better than chasing prices.
Policy/News: Tether has officially announced that it will terminate USDT redemption and support on BCH-SLP and four other 'old chains' on September 1; this is more about liquidity structure adjustment, having a neutral impact on BCH main chain spot pricing, in the short term still dominated by technical positions and market risk preference.
Operation Suggestions
Range Low Buy: Gradually try to go long near 586 to 588, hard stop loss at 585;
Breakthrough Follow: If it breaks through 602 with volume, add positions if it retests without breaking, target 608 to 615, move stop loss up;
Range Arbitrage: Before breaking levels, keep total positions below 40%, mainly high sell low buy with T+0;
Loss Handling: If it effectively drops below 580, quickly reduce positions, waiting for secondary signals around 574.
Conclusion: BCH is still in the 'upper range testing period'. Do not chase emotions, focus on volume and key prices, use small stop losses for a certain breakthrough, which is currently a more favorable strategy for win rate/odds.
