Market Overview for Bitcoin Cash (BCHUSDT) on 2025-08-21

• Bitcoin Cash (BCHUSDT) closed near session highs after a bullish breakout above key resistance.
• Momentum strengthened with rising volume and RSI entering overbought territory.
• Volatility remained stable inside Bollinger Bands, with no significant expansion observed.
• A bullish engulfing pattern formed near 553.0–556.0, signaling short-term bullish bias.
• Fibonacci retracement at 61.8% (557.0–560.0) acted as a dynamic support/resistance zone.

Bitcoin Cash (BCHUSDT) opened at $556.4 on 2025-08-20 at 12:00 ET, reached a high of $565.0, and closed at $553.2 at 12:00 ET on 2025-08-21. Total volume for the 24-hour period was 16,579.06 BCH, with notional turnover at $9,133,657.21.

Structure & Formations

The price action featured a strong bullish reversal from 553.0–556.0, marked by a 15-minute bullish engulfing pattern, signaling a shift in short-term sentiment. Resistance levels at 559.7 and 561.2 were tested multiple times, with the 561.2 level holding as a pivot zone. The 557.6–560.1 range acted as a consolidation area before a late-session breakout. A doji formed around 559.6, suggesting indecision, but was quickly followed by buying pressure.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed into an ascending slope during the final hours, confirming the uptrend. The 50SMA is currently at 556.8, and the 20SMA at 557.4, with price above both. On the daily chart, the 50DMA and 200DMA are in bullish alignment, with price trading above both, suggesting continuation of the broader trend.

MACD & RSI

The 15-minute MACD crossed above the signal line with increasing histogram bars, confirming positive momentum. RSI reached overbought territory (75–85), but without a significant overbought divergence, suggesting the uptrend may continue.

Bollinger Bands

Price traded within the bands for most of the session, with no major contractions or expansions. The 561.2 high came within 1 standard deviation, indicating strong conviction in the move. No breakout beyond the upper band was confirmed.

Volume & Turnover

Volume surged during the breakout phase, especially between 02:00–06:00 ET, with multiple 15-minute candles showing above 200 BCH traded. Turnover spiked in line with price, confirming the bullish momentum. No meaningful divergence was observed between price and volume.

Fibonacci Retracements

The 61.8% retracement level of the 553.4–565.0 swing was at 557.0–560.0, where the price found strong support and resistance multiple times. The 556.5 close on 2025-08-21 suggests a likely continuation toward the 78.6% level at 561.5, assuming the trend remains intact.

Bitcoin Cash could continue to test higher resistance levels, with 561.5–565.0 as the next key targets. However, any pullback toward 556.5 or 553.0 may trigger a retest of short-term bullish conviction. Investors should remain mindful of volatility and potential overbought conditions.