$BCH Sweeps 248.76 Liquidity — Downtrend Still in Control
$BCH briefly pushed 0.7% above 248.76, but the 15m wick was rejected and closed back below the level. Inside the current 1h lower-high structure, this looks more like a buy-side liquidity grab than a genuine reversal.
The bearish setup remains favored while price stays below the key 1h swing high at 251.75. Weekly and BTC structures also support the downside, although the bullish daily trend makes this a counter-trend short, so confirmation is essential.
Short zone: 248.70–249.50 after a failed reclaim of 248.76, followed by a bearish 5m/15m market-structure shift or clear rejection.
Targets: 245.83 → 243.58 → 242.20 → 239.45
Protection should sit beyond the structure flip. A confirmed 1h close above 251.75 would invalidate the bearish thesis and shift the bias bullish...
$BCH #BCH #CryptoTrading #TechnicalAnalysis #BinanceFutures #AltcoinTrading