BCH's recent trend is interesting. It repeatedly tested around $600 this morning, with solid support at $590. This tug-of-war between bulls and bears is somewhat similar to LTC at the $80 level last year.

The key information is that the XBIT wallet dumped 60,000 BCH, but an anonymous large holder bought 40,000—an obvious whale accumulation signal. This is not panic selling; it's organized shakeout.

From a technical perspective, BCH has already stabilized above the middle band of the Bollinger, and the KDJ has formed a golden cross. However, the MACD green histogram has not fully disappeared, indicating that the short-term bulls are in a buildup phase. Compared to mainstream coins that are consolidating sideways, BCH's ability to move independently is worth noting.

The key points for operation are clear: $600 is the decision line. A break above $605 targets $650 or even $630; if it falls below $595, wait for $580 before considering entry. Considering BCH's characteristic of "rapid rise and slow decline," plus the end-of-year performance window for institutional reporting, this downward move seems more like a final shakeout by the main players. Entering at the current price from a probability perspective is not a bad idea.