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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.
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So now it's about whether 605 can hold steady. If it does, the pattern will change.
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It's the same old story. When it can't go up, they say they are long-term optimistic. I only trust spot trading.
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Contract shrinkage by 20%. What does that mean? Smart money is offloading.
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Don't fall for this. Wait until it's confirmed. Never chase above 600.
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It's interesting. This is a test of patience.
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Long-term buying is deceiving. Spot is selling off. I choose to trust spot trading.
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Is 605 a watershed? Then just hold on to this number. Everything else is pointless.
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BCH has really been dull lately, stuck and not moving.
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Spot selling but long-term buying is flooding in. This setup sounds like a trap.
The buy orders are flooding into Spot and then getting dumped; this operation is truly bizarre, and it's a bit hard to understand.
Once $605 holds above, this situation will reverse, and the watershed is right in front of us.
The short-term loss of confidence indicates that there are still people cutting losses.
Don't chase the price; let's wait and see if it can really break through.
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The 605 point is a bit of a gamble; who knows if it will break through?
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It's another play stuck at a key position; BCH loves this kind of move.
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I think instead of waiting for a breakthrough, it's better to protect your own chips.
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Spot dumping while not closing positions and still shrinking? This signal is weird; one must be careful.
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To put it bluntly, it's just a whipsaw, seeing who will give in first.
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I'm not chasing above 600; getting trapped once is enough.
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Long-term outlook is optimistic, but short-term selling is typical institutional behavior to play people for suckers.
This 605 position is indeed interesting, if it doesn't break, then let's just keep grinding here.
Spot selling contracts are shrinking, it's obvious that someone is rug pulling, I'll wait and see.
Why does it feel so hard to break 624, it's been so long and still stuck in place.
The short-term loss of confidence is actually testing the patience of long-term funds.
Wait, contracts are shrinking by 20%? Are those going long in the short term getting scared?
The 605 level is a bit harsh, not something to be taken lightly.
Only dare to follow when it truly breaks out; chasing the price now is purely looking for death.
It’s just another plot of range-bound action; BCH is like this.
Having a positive outlook is one thing, but you still need to defend your holdings; don’t get played for suckers.
The 624 dollar level is a bit fierce; it feels like it won't be that smooth.
Spot dumping combined with contract shrinkage, what does that indicate? Those who understand know.
In the short term, the bearish pattern still needs to break; no rush, just wait for signals.
This rebound rising 22.2% is just that; there's still a long way from a true breakthrough.