$BCH dropped and then rebounded with increased volume; the short-term recovery is worth following, but support has not yet been confirmed.
On Binance spot, the 20:00 hourly candle first fell to 338.1, then recovered to 358.8, above the 19:00 high of 355.2; trading volume was 2.35 times the previous hour. After consecutive pullbacks at 18:00 and 19:00, buyers pulled the decline back this time. At the same time, Bitcoin continued to close lower, so BCH's recovery is relatively stronger.
However, before publication it had already returned to 354.8, and during the session it again lost 355.2, so the rebound just now cannot be treated as a firm hold. The 18:00 high of 366.4 has also not been broken yet.
Going forward, only two conditions matter: the hourly close must again hold above 355.2, and then break above 366.4 on increased volume, which would strengthen the continuation view. If it closes below 355.2, this recovery observation should be canceled to avoid another test of 338.1. The current hourly candle has not closed yet; waiting for the close gives more basis than chasing this rebound.
Source: Binance spot 1h data, collected at Sep 23 21:03 (UTC+8), with the price rechecked before publication.
https://www.binance.com/en/trade/BCH_USDT?type=spot
On Binance spot, the 20:00 hourly candle first fell to 338.1, then recovered to 358.8, above the 19:00 high of 355.2; trading volume was 2.35 times the previous hour. After consecutive pullbacks at 18:00 and 19:00, buyers pulled the decline back this time. At the same time, Bitcoin continued to close lower, so BCH's recovery is relatively stronger.
However, before publication it had already returned to 354.8, and during the session it again lost 355.2, so the rebound just now cannot be treated as a firm hold. The 18:00 high of 366.4 has also not been broken yet.
Going forward, only two conditions matter: the hourly close must again hold above 355.2, and then break above 366.4 on increased volume, which would strengthen the continuation view. If it closes below 355.2, this recovery observation should be canceled to avoid another test of 338.1. The current hourly candle has not closed yet; waiting for the close gives more basis than chasing this rebound.
Source: Binance spot 1h data, collected at Sep 23 21:03 (UTC+8), with the price rechecked before publication.
https://www.binance.com/en/trade/BCH_USDT?type=spot
