BCH has tested this price level multiple times already. Looking back at history, it was tested here on December 21 and September 21 last year, indicating that this is indeed a level where the price can get stuck. Once it breaks above this level, reaching 700 dollars is very likely, which would be a clear breakout. My stop-loss is set quite tight, around 10 dollars, so I will exit if it hits that point. Currently, I am mainly watching to see if there are better short opportunities above.

If the price can hold this level and break through, based on the previous two instances, the breakout usually exceeds 10 dollars, so the risk-reward here is quite good. Conversely, if the price moves downward today and falls to around 620 but cannot hold, I will reduce my position first, and if it returns to my cost basis, I will close all positions. After this wave completes, I will look for opportunities to go short again.