$BCH pushing back into overhead supply after a sharp squeeze — upside momentum looks like it’s fading.
Trading Plan — Short $BCH
Entry: 545 – 555
SL: 590
TP1: 520
TP2: 495
TP3: 460
BCH expanded aggressively into a prior distribution zone, but the structure now feels stretched. The latest push higher looks more like short covering than sustainable continuation.
Momentum is starting to taper off, and follow through on each small breakout attempt is weak.
You can see early signs of absorption near the highs upper wicks forming and price struggling to hold above intraday resistance.
Buyers aren’t showing the same conviction as during the initial expansion, while sellers appear to be leaning into strength.
If this rejection continues to develop, a rotation back toward the previous demand pocket is the logical move before the market decides on a broader trend continuation or reversal.
As long as price remains capped below the 590 invalidation level, the short bias remains intact with room for a corrective pullback.
