Bitcoin Cash Holds at $589 — Halving Sentiment Intact but Momentum Cooling
I see Bitcoin Cash consolidating around $589 after retreating from the $618 peak, which suggests short-term momentum has cooled.
Technical indicators are mixed: halving-driven bullish sentiment remains a positive backdrop, but price action lacks clear breakout confirmation and appears range-bound for now.
I’m monitoring support near the current level and would favor buying on weakness or waiting for a decisive break above $618 before increasing exposure.
Analysis
Recommendation
Watch the consolidation closely. Avoid chasing; consider buy-on-weakness entries around current levels or wait for a confirmed breakout above $618 with stronger volume before taking new positions.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.