Crypto
BCH Plummets Below Moving Averages Amid Bearish Sentiment
BCH is experiencing a significant drop in price after falling 4.25% in 24 hours to $248.10, pushing it below both its short-term moving averages.
The 7-day and 20-day moving averages have flipped from support into overhead resistance, indicating a deteriorating structure on the short-term timeframe.
The daily range printed a high near $261 before sellers took control, with the close near the low of the range ($246.80) suggesting that buyers are not committing to purchases.
The derivatives picture shows two conflicting signals: smart money has stacked longs at a nearly 2:1 ratio, while aggressive sellers dominate spot execution, outpacing buyers by roughly 3 to 2.