$BCH just experienced a long liquidation of $9.6861K at $551.82. This means traders expecting the price to rise were forced to close their positions, creating sudden selling pressure. Long liquidations like this often push price lower quickly until strong support appears.
The key buy zone to watch is around $530–$540 if price stabilizes with steady volume. If buyers step in, the first target could be $570, and the next resistance may sit near $590. A careful stop loss can be placed below $525 to manage risk. Always trade cautiously and wait for confirmation before entering.