BCH Clears $550 on Heavy Volume; $547 Flips to Support as Range Narrows

According to CoinDesk Research’s technical analysis data model, BCH$555.06 pushed through $550 in a burst of heavy volume, then cooled in a narrow band as traders assessed whether new support would hold.

Technical analysis highlights

• Path and result: BCH climbed from $540.24 to $554.52 for a session gain of 2.6%, setting higher lows and confirming an uptrend structure.
• Breakout timing: The push started in Asian time when the price broke $547 at 1 am UTC; the printed box candle 130,078 units.
• Volume Context: During the move above $550, the trade performed 328% above average, signaling strong participation behind the breakout.
• Post-move check: A pullback to $553.58 in the last hour tested the area just above the breakout zone.
• Weekly context (vs BTC): The model notes weekly gains of 4.8% for BCH against a decrease of 1.2% for bitcoin in the same span.

What do the patterns mean?

• Breakout with confirmation: Rupture $547 before and $550 after, with heavy activity, tells you that the buyers were not alone – there was a depth behind the move.
• Fresh support test: A quick dive to $553.58 after the crash is a normal “check” to see if new buyers defend the level; $553.50 is the line the model is looking at.
• Constructive structure: the lows of the pattern at $528.55 and $534.36 and an ascending trend line from October 30 remain intact, even as a lower high from $558.25 is in sight.

Support and resistance map

• Support (closest): $553.50 (retested).
• Support (breakout retest): $547 (resistance-turned-support).
• Trend reference: Ascending line from October 30 stands above $534; low before higher at $534.36 and $528.55.
• Resistance (immediate): $558.25 (first high).
• Near range: $553 to $556 defines the current consolidation box.

volume printing

• Peak bar: 130,078 units at 1 am UTC on the breach of $547.
• Breakout participation: +328% vs. the average during the run to $550.
• After the pullback: The model notes high activity even on the small pullback, consistent with active price discovery.

Position signals

• Option interest: The pattern highlights the growing call interest at the November hits of $560 and $575, in line with traders mapping the upside control points (this is positioning color, not a forecast).

Risk framing

• If the support holds: The $558.25 first high is the immediate check (about 0.9% from the session establishment mentioned in the model).
• If support fails: A loss of $553.50 could prompt a retest of $547 (the breakout level now seen as support).
• Reference Stop-zone: The flag pattern below $534.36 as a logical line for risk control in the uptrend structure.

Context CoinDesk 5 Index (CD5).

• CD5 Window: October 30, 3 pm UTC, to October 31, 2 pm UTC – CD5 rose 1.43% to $1,920.74, with a push above $1,920 during 4-5 am UTC and a 4.34% daily range, indicating active price discovery in the majors.

Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.