Bitcoin Cash (BCH) Is Stealing the Spotlight This Week, Pulling Off a Textbook V-shaped Recovery

Bitcoin Cash (BCH) is stealing the spotlight this week, pulling off a textbook V-shaped recovery, breaking through a key resistance zone, and rallying to

Bitcoin Cash (BCH) has been stealing the spotlight this week, pulling off a textbook V-shaped recovery, breaking through a key resistance zone, and rallying to new local highs.

As of May 8, the Bitcoin price has been trading above $410, up over 12% in the past 24 hours and is firmly among the top gainers in the crypto market. The 24-hour volume has also surged 140.60% to $716.79 million, suggesting that the breakout is driven by real buying interest rather than weak speculative spikes.

Bitcoin Cash now boasts a market cap of $8.15 billion, ranking it #15 among all cryptocurrencies. Notably, BCH recorded this pump alongside projects like Pudgy Penguins, Sui, EOS, Official Trump Coin, and Virtuals Protocol, all of which saw double-digit gains. However, BCH’s higher market cap and volume give its move more weight in terms of market sentiment.

Why the V-Shaped Recovery Matters for Bitcoin CashAccording to a TradingView chart of Alpha Crypto Signal, the current rally in BCH was anticipated well in advance.

Before initiating a sharp V-shaped recovery, the asset respected a strong horizontal support level around the $335–$340 zone. The breakout from this structure confirmed a bullish reversal, which has now driven the price up to the $400–$420 range.

The clean price action has been backed by increasing volume, showing confidence in the move. The post reads:

“Clean breakout, clean move: exactly how we mapped it … Watching $BCH now for continuation or a potential retest setup.”

From a price structure perspective, Bitcoin Cash (BCH) has validated its bullish thesis and could be heading toward even higher levels if the momentum holds.

BCH Technical IndicatorsThe current Bitcoin Cash Technical Outlook on TradingView shows that the moving averages are strongly bullish.

Out of 11 indicators, 10 signal a “Strong Buy,” with key short-to-mid-term averages — specifically the 10-day, 20-day, 30-day, and 50-day — showing upward alignment. This convergence typically suggests solid momentum and strength in the growing trend.

Given current momentum and technical structure, a move toward the $440–$450 resistance level is on the table. This level coincides with historical resistance from early 2024 and will likely act as the next major barrier.

If $BCH fails to hold above $400 in the coming days, traders should watch for a retest of the former resistance zone (now converted to support) between $360 and $380. A successful bounce from that area would confirm strength and offer a new entry for late buyers.

However, failure to hold $360 could invalidate the bullish breakout and expose BCH to a drop toward $320, where the 50-day EMA is currently hovering.