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BCH is currently at spot #4 in terms of total market capitalization.
At the time of writing, BCH price is currently sitting at $554, slightly below yesterday's level. It honestly doesn't look TOO bad. Although it did get rejected at $610, it didn't decisively break below the dynamic uptrend it had formed like some of its bigger siblings did. Its short term support at $540 did hold and pushed it back up right along that trend line.
Right now the most important thing is for it to keep holding that $540 level, after that another good sign would be to establish a new short term support at $560 or so. If it manages to do so, we'd look to see if it can decisively break above $590, where we'd hope it established support first before having another attempt at $610 (because that was one quick rejection...)
On the downside, if it breaks below the $540 support, we might see it ranging between $500 and $540. But if it breaks below $500, next level we'd look at way down would be $475.
On the daily chart for BCH, technical indicators give a bearish outlook unchanged from yesterday (14 sell, 10 neutral, 2 buy)
On the weekly chart for BCH, technical indicators give a more bearish outlook also unchanged (13 sell, 8 neutral, 1 buy)
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