BCH on the 8H timeframe is currently trading around 187.9 after pulling back from the early July high near 252 and finding support on the rising trendline near 207–209 on August 1, with price now consolidating between the trendline below and the 215–220 horizontal resistance zone that has capped the structure through the post-spike consolidation.

The chart shows a rising trendline originating from the late June low near 182–184, connecting the June 29 higher low near 190 and the August 1 touch near 207–209 before price recovered. That trendline has been the macro support floor across the entire visible chart, with the July 10 high near 252 representing the peak before a sustained decline brought price back toward it. The 215–220 horizontal zone has been a consistent pivot throughout July and early August, with price crossing through it in both directions multiple times without establishing a clean hold above. A secondary reference level near 211–213 sits just below as an additional support layer. Price bounced from the trendline near 207–209 on August 1 and has been consolidating in the 211–220 zone since, with the trendline continuing to climb beneath.

The rising trendline has now been tested twice, once in early July near 190 and again on August 1 near 207–209, with both touches producing a recovery, keeping the macro upward structure intact despite the sharp decline from the July high.

Key Levels To Watch
→ 248.0–252.0 July high, major resistance above
→ 232.0–236.0 Prior consolidation zone, resistance
→ 224.0–226.0 Minor resistance, post-spike reference
→ 215.0–220.0 Horizontal pivot, current resistance zone
→ 211.0–213.0 Secondary support, mid-range reference
→ 207.0–209.0 Rising trendline, dynamic support (climbing)
→ Below 199.0 Trendline breakdown, macro structure at risk

A confirmed 8H close above 215–220 and follow-through toward 224–226 would confirm the trendline bounce as a structural recovery, reopening the path toward the prior consolidation zone near 232–236 and potentially the July high above.

A loss of the rising trendline near 207–209 on a confirmed 8H close would break the macro support floor that has held every significant low since late June, exposing price to a move toward 199 and potentially the June low near 182–184 on an extended breakdown.

Second trendline touch held and price consolidating below horizontal resistance. Break above 215–220 → recovery open toward 224–232. Lose trendline near 207–209 → macro structure broken, downside toward 199 and below. Bias bullish above rising trendline. Shift only on confirmed close below 207–209.