The post BCH Technical Analysis Feb 1 appeared on BitcoinEthereumNews.com.

Bitcoin Cash (BCH) is trading at the 521.50$ level with a 4% drop in the last 24 hours and continues to maintain overall downward trend dominance. RSI has declined to the 34 level, approaching the oversold region, while critical resistance and support levels preserve the potential for both scenarios (bullish or bearish) to occur; this is the turning point that market participants should watch. Current Market Situation BCH fluctuated in the 467.20$ – 545.10$ range before stabilizing at the 521.50$ level, with 24-hour trading volume remaining at a moderate 489.54 million$. Technical indicators are predominantly giving bearish signals: RSI at 34.33 is near the oversold region but momentum loss continues, MACD maintains a bearish crossover with a negative histogram. Price is trading below EMA20 (574.98$) and the Supertrend indicator is giving a bearish signal, marking 603.56$ as resistance. In multi-timeframe (MTF) analysis, a total of 17 strong levels were identified across 1D, 3D, and 1W charts: 1D has 4 supports/3 resistances, 3D has 2 supports/4 resistances, 1W has 2 supports/3 resistances balance. This structure suggests short-term consolidation but carries potential for strong movement depending on the breakout direction. Although the overall trend is downward, oversold RSI and potential volume increases could signal a reversal. Scenario 1: Bullish Scenario How Does This Scenario Occur? For the bullish scenario, a daily close above the critical resistance level of 531.9714$ (score: 80/100) is required first. If this breakout is supported by increasing trading volume and RSI rising above the 50 level, EMA20 (574.98$) could be tested. MACD histogram approaching the zero line and Supertrend turning to a bullish signal provide additional confirmation. Sequential breaks of 1D and 3D resistances (557.7750$, 584.5286$) in MTF target the strong levels on the weekly chart. If Bitcoin holds its 78,196$ support, an altcoin rally could be triggered,…

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Filed under: News - @ February 1, 2026 8:29 am