🎙️【BCH Evening Report｜August 1st, 9 PM】
Brothers, tonight BCH is a bit 'steady'!
As of 9 PM, the latest quote for Bitcoin Cash (BCH) is $562, with a high of $573 and a low of $550 in the last 24 hours, showing a fluctuation of over $23 throughout the day, ultimately dropping about 1.1%, forming a 'rise then fall' market structure.
📉 From the market perspective:
• In terms of technical indicators, the RSI is in a neutral to weak range, indicating short-term momentum is retreating;
• There is obvious pressure at the $573 level, with multiple attempts to rise failing, forming a short-term top signal;
• On the support side, there is significant buying interest in the $555–560 range, temporarily forming a buffer zone.
🧭 In terms of operation strategy:
• If you still hold positions, it is advised to continue observing the $555 support; if it breaks, decisively stop-loss or reduce positions;
• If you are on the sidelines, it is recommended to wait for a breakthrough of $574 with volume confirmation before considering a short-term entry;
• Friends looking to short should also not act impulsively, as there is a clear tug-of-war between bulls and bears, and the direction is not yet fully clear.
📌 In summary:
BCH currently seems to be 'gathering strength and holding back', but whether it will 'push upwards' or 'step down' depends on how the next few candlesticks behave. Don't rush, the market will tell us the answer.
📢 Want to keep up with BCH's next operational direction and get more analysis on various coins' bullish and bearish structures?
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