📊 Current situation summary
Current price: around 630.3
Short-term movement: After forming a peak, the downtrend continues
Market condition: rebound attempts appeared, but selling pressure returned to control
👉 The current situation is interpreted as a testing phase for support levels within a downtrend.
📉 Moving average (MA) structure
MA7 / MA25: Higher price with downward order → clear bearish signal in the short term
MA99: Gradually downward slope, acting as a medium-term resistance
Summary
Short-term: Any rebound faces rapid selling pressure
Medium-term: No confirmed signals yet for a trend reversal
📐 Looking through Bollinger Bands ranges
Price is moving near the lower band
Movement aligned with the lower band → signal of continued weakness
Limited range expansion → decline occurs gradually without sharp volatility
📉 RSI indicator analysis
RSI (14): around 40
No sign of extreme selling, but no clear dominance by buyers
Weak RSI rebound attempts, not enough to change the trend
🔑 Key support and resistance levels
🟢 Support areas
629 ~ 630
Important short-term support
625
Breaking it could open the way for further decline
🔴 Resistance areas
633 ~ 634
First resistance in case of a rebound
635
Critical level to assess the possibility of trend reversal
🧠 Strategy summary
✅ Conservative approach
Wait for confirmation of support stability at level 629
Even after confirmation, it's recommended to enter with a small size
⚠️ Short-term sell scenario (Short)
In case of failure to rebound near level 633
Targets: 629 → 625
❌ Avoid chasing buy orders
Enter in a downtrend
Risk-to-reward ratio is not favorable
🔚 Summary in one line
Bitcoin Cash is still in a short-term downtrend
Breaking level 629 could increase the likelihood of further decline.
📌 Important investment notice
This analysis is for informational purposes only and should not be considered a buy or sell recommendation or guarantee of profits. Cryptocurrency markets are highly volatile and may lead to losses. All investment decisions are the sole responsibility of the investor, and this content should be used as a reference only.
