Bitcoin Cash Price Eyes Quick 12% Gain: Bulls Hold Ground

Key Insights:

• Bitcoin Cash (BCH) price is up 4% in 24 hours, outperforming the broader crypto market’s 2% drop.
• Breaking $607 could trigger a quick rally toward $665, backed by strong spot buying.
• Falling exchange net flows and steady OBV suggest bullish momentum is building.

In the past 24 hours, BCH price has been up about 4%, even though the broader market has dropped by roughly 2%. This kind of move often catches traders’ attention, especially when it happens during a market correction.

The question now is whether BCH can turn this momentum into a run toward its next big price target.

Let’s look at the key price levels for Bitcoin Cash, the technical indicators showing why bulls are in control, and what market flows say about the next move.

Key Bitcoin Cash Price Levels and the Road to $665

BCH price traded below $600 during writing, with $607 acting as the first big hurdle. This is an important psychological and technical level because it has been tested before and marked a turning point in past rallies.

If BCH breaks above $607, there’s a clear path toward $665; a move that would be about a 12% gain from where we are now.

The $665 target comes from Fibonacci extension levels, which traders often use to predict where prices could go once they break key resistance.

It’s worth noting that BCH has been making higher highs on the chart, which usually signals that buying pressure is building rather than fading. In short, the setup is there for a breakout if the market conditions align.

Bulls Stay in Control: What the Indicators Say?

Looking deeper into the technical indicators, the Bull Bear Power (BBP) is still firmly in the green. This means buying strength is consistently higher than selling pressure, not just for a single day, but over an extended period.

The last time we saw BBP readings this strong, BCH managed to push past key resistance levels and hold its gains.

The On-Balance Volume (OBV) chart tells a similar story.

OBV tracks whether trading volume is flowing in or out of an asset, and for Bitcoin Cash, it has been climbing steadily, even hitting higher highs in recent weeks. This is an important signal because it suggests the current rally is spot-driven.

In other words, people are buying actual BCH in the market rather than just betting on it through derivatives. Spot-driven rallies tend to be healthier and more sustainable.

One indicator that hasn’t fully fired yet is the Chaikin Money Flow (CMF). Right now, CMF is at 0.05, which is positive but much lower than the 0.22 reading we saw the last time BCH hit $607.

CMF measures money coming into or out of the market.

If it climbs again, it could add extra fuel to the rally and help BCH push through resistance.

Bitcoin Cash Exchange Flows and Market Positioning

Net flows, the amount of BCH moving into or out of exchanges, are also worth watching.

Over the past few days, daily exchange net flows have been falling. If this trend continues and flips into negative territory, it would mean more BCH is leaving exchanges than coming in.

That’s typically bullish, as it suggests traders are moving their coins into long-term storage rather than keeping them on exchanges ready to sell.

We’ve seen this pattern before. The last time there was a prolonged spell of inflows followed by a shift to outflows, Bitcoin Cash rallied strongly.

This time, if net flows turn red, the same kind of move could happen again. Add in the fact that BCH has been one of the few coins gaining in a broadly correcting market, and the case for a breakout becomes stronger.

For traders, the game plan is straightforward. Watch $607 closely; a break above it, backed by rising CMF and continued strength in OBV, could open the door to $665 quickly. On the flip side, if BCH price fails to break $607 and CMF stays muted, we might see a short-term pullback before another attempt.