Bitcoin Cash (BCH) Price Outlook: Descending Wedge Signals Potential Rally to $650

Bitcoin Cash carves a bullish pattern while the broader market holds its breath. A descending wedge formation on the charts suggests a major breakout is brewing—one that could propel BCH toward the $650 mark.

The Technical Setup

Chart analysts are pointing to a classic descending wedge. This pattern forms as price makes lower highs and lower lows within converging trendlines, typically signaling a consolidation before an upward thrust. For BCH, the narrowing price action indicates selling pressure is exhausting itself. The textbook play? A decisive break above the wedge's upper boundary.

Targeting the Upside

The measured move target, calculated from the pattern's widest point, points squarely to $650. That level represents a significant technical and psychological hurdle. Reaching it would require a sustained push past several nearby resistance zones, but the wedge structure implies the fuel is there. It's the kind of setup traders watch for—a coiled spring, not a random bounce.

Market Mechanics at Play

Breakouts from these patterns don't happen in a vacuum. They need volume. A surge in buying interest on a breakout candle confirms the pattern's validity and attracts momentum players. Without it, the move risks being a false signal—a 'fakeout' that traps eager bulls. The current landscape, with its mix of institutional caution and retail speculation, provides the perfect volatile cocktail for such a move. After all, nothing moves a crypto chart like a combination of hope, leverage, and the collective fear of missing out.

The potential rally to $650 isn't a promise, it's a probability drawn on a chart. It offers a clear roadmap in a market often driven by narrative over numbers. Now, the market just needs to decide if it wants to follow the script—or write a completely different, more expensive lesson for everyone involved. Because in finance, the most reliable pattern is that someone always pays for the party.

BCH Price Shows Strength Above Key Support

Technical analysis also supports the view that BCH is showing steady recovery on the two-week chart, moving above the 9-EMA and resting NEAR the top half of the Bollinger Band. At $569, BCH has reclaimed important support levels and is forming higher lows, which indicates strengthening momentum. The widening bands show increasing volatility, which is great for further recovery.

If buyers maintain control, the next areas of resistance will be at $600 and then $665, which could see a breakout to further support the bullish trend. A failure to push past these points could see a temporary re-formation of a consolidation trend towards either $540 or the mid-band of $480.

Momentum Indicators Support Broader Positive Bias

Looking at the RSI and MACD indicators, RSI is currently at approximately 59-60 on the two-week chart, which is a strong indication of sustained bullish buying pressure without any sign of overbuying. With the slow increase, it also reflects enhanced buying strength. The fact that it is above the 50 level after several candles also reinforces a strong bullish trend.

The MACD Histogram indicates weakening green bars, which indicate weakening bullish momentum, but the MACD line is above the signal line, which maintains the overall positivity in the trend. Although the sharp uptrend, which started mid-2025, is weakening, it is not reversing. As long as MACD lines are aligned correctly in the bullish direction, support could help Bitcoin Cash continue with the uptrend.