- Bitcoin Cash hit $608, securing 50% profit after a wedge breakout from the $400 to $420 zone.
- The price now consolidates near $534 support, while the next breakout target remains at $690 for BCH.
- The weekly chart shows BCH momentum intact as traders monitor resistance levels between $608 and $690.
Bitcoin Cash (BCH) secured a 50% profit after reaching the $608.3 mark, completing its second breakout target from the $400–$420 range. The move came after a wedge breakout pattern signaled strong upward momentum, lifting BCH above several resistance levels.
Breakout Setup and Target 2 Achievement
The wedge breakout pattern highlighted on the chart triggered a sharp rally. BCH advanced steadily from the $400–$420 accumulation zone, validating the bullish setup. After weeks of upward price action, BCH hit $608.3, securing the second target with locked profits of 50%.
The rally pushed BCH into higher trading zones, with price fluctuations recorded between $532.4 and $589.6 before the recent consolidation. At press time, BCH traded at $542.5, reflecting a 6.98% decline from the recent high but still well above breakout levels.
The $534.1 support area, marked on the chart, continues to act as a key reference point for traders watching retracement opportunities. A sustained hold above this level is critical for keeping upward momentum intact as BCH eyes the next target.
Target 2 achievement confirmed the effectiveness of the wedge breakout play, reinforcing the breakout strategy’s reliability during strong upward moves. Traders who positioned early in the range captured significant profit, validating the setup’s precision.
Market Structure and Upcoming Target 3
After completing Target 2, BCH now sets its sights on Target 3 at $690.3. The chart shows clear spacing between resistance levels, with $608.3 acting as a midpoint before the final target.
The breakout trajectory suggests that BCH could resume upward momentum if support levels continue to hold. Traders now monitor whether $534.1 will remain intact or if further dips test deeper support before a renewed push.
Should BCH manage to reclaim levels above $589.6 with strong volume, the path toward $690.3 becomes increasingly feasible. The breakout continuation depends on maintaining the market structure established through the wedge formation.
The weekly chart provides additional context. Previous rallies from similar setups led to multi-week expansions, indicating that BCH remains in a favorable technical structure. For now, consolidation within the $534–$589 range defines short-term dynamics while the larger target remains in sight.
Profit Secured and Key Levels Ahead
The trade update confirmed that 50% profit has already been secured from the $400–$420 entry zone. This milestone reduces immediate risk while leaving room for additional upside potential toward $690.3.
Price targets are structured across three levels: Target 1 already surpassed, Target 2 at $608.3 achieved, and Target 3 at $690.3 remaining. Each target serves as a marker for profit-taking and structural confirmation within the wedge breakout strategy.
BCH’s trajectory highlights the significance of breakout-based trading setups in capturing momentum-driven gains. Traders now face the pivotal question: will Bitcoin Cash extend gains to $690.3, or will consolidation around $534 reshape short-term outlooks?
The focus remains on support and resistance. With $534.1 acting as the base, $608.3 as the achieved milestone, and $690.3 as the goal, BCH continues to attract close attention across weekly timeframes.
