BCH Technical Analysis Feb 2

BCH is pinned at the critical support zone of 531.97$ with its current price of 535.90$, and the liquidity hunt in the downtrend continues. The nearby resistance at 557.78$ carries a strong rejection risk, with invalidation below 531$ being critical for buyers.

Current Price Position and Critical Levels

BCH is trading at 535.90$ with a 2.64% rise over 24 hours, but the overall structure remains in a downtrend. The daily range was between 497.40$ – 544.10$, with price positioned below EMA20 (570.79$) and RSI at 39.08 in the neutral-bearish zone. The Supertrend indicator gives a bearish signal (resistance 614.37$), and a total of 11 strong levels were identified across 1D/3D/1W timeframes: 3 supports/4 resistances on 1D, 1 support/2 resistances on 3D, 2 supports/3 resistances on 1W confluences. This confluence strengthens the levels; price is currently squeezed between short-term order blocks, with downward momentum dominant.

Support Levels: Buyer Pools

Primary Support

The 531.9714$ level (strength score: 80/100) stands out as the primary buyer zone. This level coincides with the last swing low on the 1D timeframe and forms a strong demand zone on the 3D chart – tested 3 times in the past with high-volume rejections (around 150M$ volume spikes) where buyers entered. It also overlaps with the Fibonacci 0.618 retracement on 1W confluence, a liquidity collection area. As price approaches here, a liquidity cluster for stop-loss hunting may form; if it holds, a local order block reversal is expected. Invalidation: momentum accelerates on a break below 531$.

Secondary Support and Stop Levels

Secondary support at 507.9053$ (score: 70/100) is located at the previous weekly low and EMA50 (around 510$) confluence on 1D. Historically, it has shown a 70% success rate over 4 tests, recording strong bounces after low-volume consolidation. Deeper at 472.2878$ (score: 60/100) is the key to 1W supply-demand balance; it functions as a breaker block on 3D, a liquidity pool remaining from the late 2025 rally. As a stop level, below 472$ triggers a major drop (309$ target) – R/R ratio up to 1:3. These levels are points defended by big players to protect long positions.

Resistance Levels: Seller Pools

Near-Term Resistances

557.7750$ (score: 82/100) is the nearest seller zone and daily high-volume order block. It is the latest rejection point on 1D (3 tests, strong defense with wicks), showing confluence with EMA20. Short-term breakout attempts here could sweep liquidity and reverse; volume profile confirms high selling pressure. For a breakout, a close above 558$ is required, otherwise fakeout risk is high.

Main Resistance and Targets

581.5678$ (score: 66/100) is the main resistance and a premium supply zone on the 3D timeframe – imbalance left from the November 2025 peak. It overlaps with 1W Fibonacci 0.382 extension, with an 80% rejection rate over 2 tests. Upper target 669.6000$ (score: 66/100), monthly resistance and psychological 670$ threshold; coincides with Supertrend resistance (614$). Upside target 730.17$, but limited in the overall downtrend. These resistances are liquidity targets for short sellers.

Liquidity Map and Big Players

On the BCH liquidity map, stop-loss clusters (buyer liquidity) are seen between 531-535$, and short stops (upside liquidity) at 557-558$. Big players (whales) may be accumulating positions in 507-531$ demand zones – although CEX flow data shows low buying pressure, the increase in futures open interest (397M$ volume) signals manipulation. A classic pattern is a sweep to 472$ below followed by an upward reversal; at resistances, liquidity grab is expected for a raid to 581$. MTF confluence turns these levels into institutional targets.

Bitcoin Correlation

BCH moves in 0.85% correlation with BTC; with BTC in downtrend at 78,360$ level (Supertrend bearish) and supports at 77,489$/74,604$ weak, BCH should wait for BTC breakout above 79,396$ for an altcoin rally. BTC dominance increase (currently a bearish signal) could pressure BCH below 531$ – high risk of BCH slipping to 472$ if BTC drops below 74k. Watch: BTC 83,548$ resistance opens the door to 581$ for BCH.

Trading Plan and Level-Based Strategy

Hold above 531.97$: Long bias, first target 557.78$ (R/R 1:2), stop below 531. On breakdown, short: Target 507.90$, then 472$ – strengthens with BTC support loss. Upside scenario: 558$ breakout to 581-669$ path, requires confluence confirmation. Overall outlook bearish; follow levels with risk management. For spot, check BCH Spot Analysis, for futures BCH Futures Analysis. This is market opinion and not investment advice.