Heavy Selling Pressure on BCHUSDT Sparks Cautious Trading Strategy

In my analysis of the BCHUSDT trading data, I observe a significant selling volume in the last minute, amounting to 295.80K ₮, with only 21% of that being buy orders. This indicates a strong selling pressure, as the sell volume dominates at -79%. The price has remained relatively stable, with a minuscule decrease from 569 to 568.8, showing no significant price movement despite the high sell volume. Over the past 24 hours, BCHUSDT has traded a total volume of 21.321 million ₮, with a majority of 57% being buy orders. However, the net volume across different timeframes shows a consistent decline: 22% in the last 15 minutes, 28% in the last hour, and 4% in the last four hours. This decline in net volume suggests a cooling off after a period of selling pressure, but the persistent dominance of sell volume indicates investors may remain cautious or bearish. The alerts report a small number of 24-hour (4) and 4-hour (2) signals, which could suggest some level of market attention or activity but not necessarily a strong bullish reversal at this moment. Overall, the data reveals a market with heavy sell-offs in short-term trading sessions, yet overall trading volume remains relatively high, implying active trading and potential for continued volatility. From a trading perspective, the dominant sell volume and decreasing net volume might signal caution for longs, as strong sell pressure could push the price downward if it persists. However, the very small price change and stable volume suggest that the market hasn't fully committed to a downward trend yet. It could also be an opportunity for traders to watch for a reversal if buy interest resumes or for further declines if the sell pressure continues. Given this environment, I recommend monitoring market movements closely, especially the buy orders and price stability, before making any new trading decisions. It might be prudent to hold off on large positions until a clearer trend emerges, either confirming a reversal or a continued downtrend. Remaining cautious and attentive to volume shifts and price action will be critical in such a market setting.