2025-12-29 03:23:18

BCH is currently trading in the $615-$630 range, and from a technical perspective, it faces significant short-term resistance.

The key level is the strong resistance line at $624-$650. This is not just a pressure level on the daily chart; clues can also be seen on the 4-hour timeframe—RSI has already started to diverge, and an ascending wedge pattern is gradually taking shape. What do these signals suggest? The likelihood of a top is increasing.

The performance on smaller timeframes is even more evident. Multiple cycles show signs of a top. In this context, the probability of breaking through the resistance level is actually quite low. Conversely, the chance of retesting the support level is higher.

From a trading perspective, if a suitable entry point is found in the $620-$630 area, the downside target could be around $570. The logic behind this move is quite clear: strong resistance above, technical indicators showing weakness, and a relatively certain downward space.

BCH-2,43%

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GateUser-cff9c776

· 7h ago

Is BCH about to drop this time? I see the RSI divergence theory, again, it's the classic "top formation" argument... But on the other hand, the 624-650 range is indeed a bit tough. If multiple timeframes resonate, we really need to be cautious.

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JustAnotherWallet

· 7h ago

bch, I really feel like it's about to crash... The 624 level is holding it down tightly, and the RSI divergence has already appeared. It's just hard to watch.

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LayerZeroJunkie

· 7h ago

Oh no, position 624 is really stuck, it feels like it's about to collapse at any moment.

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HappyMinerUncle

· 7h ago

bch this wave is really a bit of a bottleneck, the 624 level is indeed fierce. I was knocked down here last time. If you ask me, 570 is the real bottom. Entering short positions now is still a bit risky, I need to observe a bit more. RSI divergence sometimes is just a fake-out, don’t be too superstitious... If the 624 break doesn’t hold, then just come down. Anyway, I’ve already gone short. It feels like a high-probability event that this dip will reach 570, it all depends on who can hold on.

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