🔥 $BCH overall bearish vibe but showing some short-term consolidation hints that could flip things a bit. For trading on 1-hour timeframe, I'd go long for a quick counter-trend bounce.
Those hourly candles have volume fading on the dips, which makes me think sellers are getting tired.
Capital flows are mixed: Short-term stuff (5-30 mins) on contracts is positive, +5.7M USDT in 5 mins, so buyers are sniffing around the lows. But zoom out to 4-24 hours, and it's all red—contracts at -52.75M USDT over 24h, spot mostly negative too, though there's a tiny +2.3M USDT buy-in on the 5-min spot. Overall, still screams bearish sentiment.
Entry short $BCH : Around 590-595 USDT where the lower Bollinger and Support level meet up. Wait for a solid reversal sign like a hammer candle or engulfing, plus RSI6 popping over 20.
Stop-loss: 3% below your entry, say 572 USDT if you get in at 590—lines up with Support zone at 578.43
Targets $BCH : Shooting for 613-620 USDT near the upper Bollinger and resistance zone
