BCH bearish 📉: rebound faces resistance; watch the 256 level
Nov 7, 18:30 (Beijing time) market snapshot (https://seandra.ai/perp/bch): BCHUSDT at 256.99, down 4% over 24 hours. Futures OI then reached $73.6 million, up 4% in 24 hours; funding rate was -0.0085%/8 hours, with $4.2 million in net aggressive selling. The combined signals lean bearish. Futures data (https://closedcandle.com/coin/bch)
Spot 4-hour RSI is 34.9, and the MACD histogram is -1.50. Volume in the latest completed hour reached 1.57 times the average of the previous 20 bars, with weakness continuing. Technical indicators (https://closedcandle.com/coin/bch/indicators)
Over the next 4–24 hours, the bias is toward further downside: support at 256.2, with 253.4 in view if it breaks; resistance at 263.3–265.3. If price holds above 265.3 on rising volume, the bearish outlook is invalidated, and the rebound could extend to 268.2. Watch for short covering despite the negative funding rate. Key levels (https://www.fullswing.ai/levels/bitcoin-cash)
#BCH #BCHUSDT #BinanceFutures
Nov 7, 18:30 (Beijing time) market snapshot (https://seandra.ai/perp/bch): BCHUSDT at 256.99, down 4% over 24 hours. Futures OI then reached $73.6 million, up 4% in 24 hours; funding rate was -0.0085%/8 hours, with $4.2 million in net aggressive selling. The combined signals lean bearish. Futures data (https://closedcandle.com/coin/bch)
Spot 4-hour RSI is 34.9, and the MACD histogram is -1.50. Volume in the latest completed hour reached 1.57 times the average of the previous 20 bars, with weakness continuing. Technical indicators (https://closedcandle.com/coin/bch/indicators)
Over the next 4–24 hours, the bias is toward further downside: support at 256.2, with 253.4 in view if it breaks; resistance at 263.3–265.3. If price holds above 265.3 on rising volume, the bearish outlook is invalidated, and the rebound could extend to 268.2. Watch for short covering despite the negative funding rate. Key levels (https://www.fullswing.ai/levels/bitcoin-cash)
#BCH #BCHUSDT #BinanceFutures