Key Moments
- Bitcoin Cash (BCH) is trading below $522 on Tuesday after repeated failures to break key resistance.
- Derivatives and on-chain indicators highlight a bearish tilt, raising the risk of a dead-cat bounce toward lower support.
- A daily close above the 200-day EMA at $544.70 would be needed to target resistance at $564.00, the 100-day EMA.
Derivatives and On-Chain Data Point to Bearish Positioning
Bitcoin Cash (BCH) is under pressure, trading in negative territory below $522 on Tuesday after several unsuccessful attempts to push through a critical resistance zone. Signals from both derivatives markets and on-chain activity are aligning to reflect a more cautious, bearish stance among market participants, increasing the probability that recent strength could be a dead-cat bounce before another leg lower.
Derivatives data for Bitcoin Cash shows that traders are leaning to the downside. According to CoinGlass, the long-to-short ratio for HYPE stands at 0.90 on Tuesday. With the ratio below 1, this reading indicates that a greater share of market participants are positioned for declines rather than gains, reinforcing a bearish sentiment backdrop.
#Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals
Bitcoin Cash (#BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing #bearish.#Crypto pic.twitter.com/k29gkN48eg
— Michelle Addison (@xauusd_milliefx) February 10, 2026
Additional confirmation comes from CryptoQuant’s summary metrics, where BCH’s spot and futures markets show sell-side dominance. This tilt toward selling pressure suggests vulnerability to further downside and supports the view that a corrective phase may still be unfolding.
| Metric | Reading | Implication |
|---|---|---|
| CoinGlass long-to-short ratio (HYPE) | 0.90 | More traders are positioned short, signaling bearish sentiment |
| Spot and futures flow (CryptoQuant) | Sell dominance | Bias toward a corrective move in BCH price |
Technical Setup: Repeated Rejection at Fibonacci and EMA Confluence
From a technical perspective, Bitcoin Cash has repeatedly failed to clear a key retracement zone. The price has been rejected multiple times at the 61.8% Fibonacci retracement level, drawn from the January 27 high of $603.90 to the February 6 low of $423.00, which sits at $534.80.
This Fibonacci barrier closely aligns with a previously broken ascending trendline and the 200-day Exponential Moving Average (EMA) at $544.70. The clustering of these signals in the same region underscores it as a significant reversal area where sellers have consistently defended the level.
Price action reinforces this cautious view, with BCH changing hands at $525.40 on Tuesday, suggesting the market may be experiencing a dead-cat bounce – a short-lived recovery that occurs within a broader downtrend.
| Level / Indicator | Value | Role |
|---|---|---|
| January 27 high | $603.90 | Fibonacci retracement anchor (top) |
| February 6 low | $423.00 | Fibonacci retracement anchor (bottom) |
| 61.8% Fibonacci retracement | $534.80 | Repeated rejection zone |
| 200-day EMA | $544.70 | Major resistance and reversal area |
| Immediate resistance (100-day EMA) | $564.00 | Next upside target if 200-day EMA is reclaimed |
| Daily support | $478.70 | Key downside level if correction extends |
Momentum Indicators: Bearish Bias with a Watch on MACD
Momentum gauges currently favor the bears. The Relative Strength Index (RSI) sits at 44, below the neutral 50 line, and is pointing lower. This configuration suggests that bearish momentum is gathering strength and that sellers retain the upper hand for now.
The Moving Average Convergence Divergence (MACD) indicator presents a more nuanced picture. The MACD lines are moving closer together, raising the potential for a bullish crossover. Such a signal could hint at waning downside momentum. However, if the MACD fails to deliver a confirmed bullish crossover, it would imply that bearish forces remain in control and that the probability of an additional corrective move increases.
Key Levels to Watch: Downside Risk vs Potential Recovery
If Bitcoin Cash continues its current corrective trajectory, price could slide further toward daily support at $478.70. This level represents an important area for buyers to defend in order to prevent deeper losses within the prevailing downtrend.
On the upside, bulls would need to push BCH above the 200-day EMA at $544.70 on a daily closing basis to negate some of the immediate downside risk. A sustained close above this threshold could open the door for an extension higher toward the next resistance at $564.00, which aligns with the 100-day EMA.
The balance between these support and resistance levels, combined with signals from derivatives, on-chain flows, and momentum indicators, will be critical in determining whether the current move proves to be a transient dead-cat bounce or the starting point of a more durable recovery.
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