$BCH appears to have completed a corrective Wave 4 structure, with price sweeping liquidity before stalling near resistance. The question now is whether this marks continuation to the downside or early signs of stabilization.
From a structural perspective, Wave 4 corrections typically precede the next impulsive leg. If sellers maintain control and BCH fails to reclaim recent resistance zones, the probability of a deeper move increases.
Key level to watch: the recent local low.
A break below it with expanding volume and rising open interest would strengthen the bearish continuation case.
However, if price stabilizes, reclaims resistance, and begins forming higher lows, the wave count could invalidate quickly. Markets don’t respect labels — they respect liquidity and structure.
Momentum right now favors caution. Volume has not yet confirmed a strong reversal, and broader market sentiment remains fragile.
For BCH, this is a decision zone.
Will support break and confirm the next downside leg — or does price absorb selling pressure and shift structure?