Bitcoin Cash is trading at $319, pinned under a sell zone at $322–$325. Whale positioning on BCH is running roughly 2:1 long, and aggressive taker buying is dominating order flow. The MACD is flat.
That combination — one-sided flow, one-sided positioning, and no momentum confirmation — is why the next 48 hours are being treated as a test rather than a trend. A $340 break is the level in play.
Where the sellers are stacked
The $322–$325 band is the immediate problem. It's not a wide zone, but it's hard: price has approached it and failed to clear. Until BCH takes it out and holds above it, the long bias among large holders is a position, not a result.
Above that, $340 is the number that matters. That's the level being watched for a breakout within the next two days. Get through $325 and $340 comes into range quickly; stall at $325 and the setup decays.
The whale book and the tape
Two things are true at once. Whales are positioned long at about a 2:1 ratio, and takers are lifting offers rather than hitting bids. That's the bullish read, and it's the reason $340 is being discussed at all.
The counterweight is the MACD. It's flat. Momentum hasn't confirmed the positioning or the flow — which is exactly the kind of divergence that makes a resistance test inconclusive. Buying pressure can push into a wall and still lose to it.
What a $340 break would require
First, absorption of the $322–$325 supply. That's a prerequisite, not a detail. Second, the flat MACD would need to turn up rather than simply stay flat while price grinds higher — a rising price on a dead momentum line tends to mean the move is being sold into.
If both happen and BCH clears $340, the long whale book is validated and the next leg opens up. If the $322–$325 zone holds, the 2:1 long positioning becomes the risk rather than the edge.
What's unresolved
The bias is clear, the flow is clear, and the level is clear. What isn't clear is whether the buying can eat through $322–$325 with momentum that isn't stuck at zero. The 48-hour window on $340 is the clock. Watch $325 first.
