Bitcoin Cash (BCH) Closes Last Hour Down $-2.42; 2 Day Down Streak Ended, Crosses 20 Day Moving Average

The Hourly View for BCH

Last Updated July 10, 2021, 02:046 GMT

At the moment, BCH’s price is down $-2.42 (-0.48%) from the hour prior. The hourly chart shows that BCH has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on BCH; it is now pointing up. 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 entered today at $503.94, up 2.66% ($13.04) from yesterday. This move happened on lower volume, as yesterday’s volume was down 5.28% from the day before — and down 50.87% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 3rd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Bitcoin Cash crossed above its 20 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For another vantage point, consider that Bitcoin Cash’s price has gone up 9 of the previous 14 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin Cash for the past day were:

• From VinnyLingham:
  

  @Thavash @elonmusk @howardlindzon Because Doge developers are willing to experiment and take some risk on scaling L1. Doge is fundamentally forked Bitcoin code and Bitcoin Cash has proven that larger blocks can technically scale. No reason not to try and replicate it. Doge is a social currency.

• From HandleTwatter:
  

  @elonmusk @MattWallace888 “There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.” This is exactly what BCH (Bitcoin Cash) is already doing.

• From DavidShares:
  

  @elonmusk @MattWallace888 Elon, that’s what Bitcoin Cash did when it forked BTC in 2017. You should really look into it more.