BCH Stuck in a Stalemate: Can It Break Through the $624 Mark?

[Coin World] BCH has been range-bound between $272 and $624 since July. Although it has risen by 22.2% since mid-November, it has been stuck at the $624 hurdle. Strangely, the continuous influx of buy orders indicates that long-term funds remain optimistic, yet the current Spot market is experiencing constant dumping, and the open contracts have decreased by nearly 20%—this comparison clearly illustrates the issue, as the confidence of short-term participants is evidently waning.

The key point is: if there is no confirmed breakout, do not easily chase high above $600. On the other hand, once the price stands above $605, the current short-term bearish pattern will be broken. This position is neither too big nor too small, but it is enough to become a watershed that changes the rhythm.