$BCH Real-time Market｜August 23, 22:00 Evening Market Professional Quick Review
Based on Binance Spot: BCH589, 24h High 608.0 / Low 550.6; Binance Futures page shows High 607.86 / Low 550.22, both ends of the range are basically consistent, price anchoring is accurate.
Compared to the morning: we provided "585 support, 602 resistance, mainly oscillating" in the morning. The current price is still hovering in the middle of the range, not breaking above 602 with volume, the rhythm is consistent with the morning judgment - still "guarding the lower edge, grinding the upper edge" in an oscillating advance.
Technical aspect: 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 given a trend signal; if volume increases and stands above 602, look at 608/615 above; if it falls below 585 again, look back at the second support around 580/574. Trading within the range is still better than chasing highs.
Operational Suggestions
Low Buy in the Range: Gradually buy near 586 to 588, hard stop loss at 585;
Follow the Breakthrough: If volume increases and stands above 602, add positions if it tests and does not break, target 608 to 615, move stop loss to take profit;
Range Arbitrage: Keep total positions below 40% before breaking, focus on T+0 high selling and low buying;
Response to Losing Position: If it effectively breaks below 580, quickly reduce positions and wait for the second signal around 574.
Conclusion: BCH is still in the "oscillation upper edge testing period". Do not chase emotions, focus on volume and key prices, using small stop losses to bet on a certain breakthrough is currently a more favorable strategy in terms of win rate/odds.
