BCH's recent rally is indeed significant. After the reminder at the high of 650 on the 11th, it has become very difficult to push higher in the short term. Now it's the bears' turn to exert pressure.

From a technical perspective, the situation looks a bit grim. On the daily chart, BCH price has already broken below the middle band of the Bollinger Bands, which is a clear sign of weakness. At the same time, the MACD has formed a death cross, with the green bars continuously expanding. Coupled with declining volume, the signs of heavy selling pressure are becoming more obvious. The short-term moving averages have also turned downward, indicating that the entire technical setup is signaling a bearish trend.

The manipulator's intention to sell off is very clear; the price continues to weaken below the middle band, with obvious resistance. At this pace, only when the price reaches around 550 might there be a chance of finding support. Currently, short-term longs should be cautious and ensure proper defense.