Bitcoin Cash (BCH) Closes Last Hour Down $-1.27; Heads Down For the 2nd Consecutive Day, Crosses 200 Day Moving Average

The Hourly View for BCH

Last Updated June 17, 2021, 10:16 GMT

At the time of this writing, Bitcoin Cash’s price is down $-1.27 (-0.2%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Cash Daily Price Recap

Bitcoin Cash came into today down 5.46% ($34.29) from the open of the previous day, marking the 2nd consecutive day a decrease has occurred. This move happened on lower volume, as yesterday’s volume was down 1.25% from the day before — and down 34.23% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 5th since the previous day in terms of percentage price change. Below is a daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Notably, Bitcoin Cash crossed below its 200 day moving average yesterday. Volatility for Bitcoin Cash has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Bitcoin Cash’s price has gone down 8 of the previous 14 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin Cash:

• From thecryptokidd:
  

  Bitcoin Cash will be undervalued at any price. It’s humanities best option for permissionless, electronic p2p cash. #bch

• From CallHimBruce:
  

  the only crypto this vpn accepts for payment is bitcoin and bitcoin cash and all of a sudden bitcoin cash doesnt seem so worthless

• From BitcoinCashCom2:
  

  @KimDotcom @DavidShares #BTC is now centralized custodian to centralized custodian counterfiet US dollar. Thankfully, Bitcoin Cash is still peer to peer digital cash system as described in the Bitcoin whitepaper.

As for a news story related to Bitcoin Cash getting some buzz:

Bitcoin Cash City unveils first Bitcoin Cash Hot Spot to North Queensland Public : btc

Do all those merchants in the sign accept BCH?…Bitcoin Cash Accepted Here signage has been installed out the front of Ottos Precinct complex to publicly acknowledge that Bitcoin Cash as a currency has arrived….Great news Would you look at that, all of the words in your comment are in alphabetical order.