BOSS Wallet data source, real-time price of Bitcoin Cash BCH, the latest price of BCH today reaches $513.8, with an increase of up to 3.05%, trading volume of $1.331 billion

After analyzing the K-line chart, it is currently in a downtrend, significantly up compared to 11:00, recovering compared to 08:00, but down compared to 05:00. Price is rising but trading volume is declining, which usually indicates that the upward momentum of the market is weakening, and the number of buyers is decreasing.
This phenomenon of divergence between price and volume may be due to insufficient selling pressure. In this case, future prices may correct or consolidate sideways. Due to the lack of volume support, price increases may be difficult to sustain, and investors should be wary of the risk of price retracement at high levels.
It is recommended to pay attention to whether trading volume can keep up with price increases and whether there is new buying interest. Trading volume is decreasing while the price is rising. According to the Williams indicator, the current state is neither overbought nor oversold. Recently, trading volume has decreased, trading volume has decreased compared to previous hours, price is rising, and trading volume is declining: upward momentum is weakening.

Market upward momentum is weakening, it is recommended to remain cautious and pay attention to trading volume and new buying conditions.

The above content is for reference only and does not constitute investment advice.