BCH is now at 258.70—it's only a little away from 255.50. Once it breaks, don't keep fantasizing; go first, run first.
① To put it in plain language: when the whole network is singing bearish about BCH, I first check the liquidation map—if a large number of leveraged long positions have already been swept, it's actually easier for an oversold bounce. Near 255.50, I'll take bids with bloody bags.
② I think this dump is to shake out liquidity. As long as BCH holds 255.50, there's still a chance.
③ Everyone keeps saying BCH is going to crash, but I think 255.50 has support.
BCH is stuck in the range of 255.50~260.40. Current price: 258.70. RSI: 52.8. I won't bet on a one-way move in this kind of choppy market—I'll only go long after a break above 260.40. If 255.50 breaks down, I’ll exit immediately; I won’t do anything in between.
Newcomers remember this: RSI being overbought doesn’t mean a drop will happen right away, but the probability of getting pinned by a spike after chasing is high. The real money comes from waiting for buy points within the plan—not chasing your emotions.
I only take action at positions I can understand. If I can’t understand, I wait. How do you usually judge a spot like this?
If I were holding a position here, I would’ve already placed my stop-loss.
#BCH #ETH