Bitcoin Cash (BCH) Closes Last Hour Up $6.21; Breaks Above 50 Day Average, Heads Up For the 3rd Day In A Row, in a Downtrend Over Past 90 Days

The Hourly View for BCH

Last Updated July 29, 2021, 02:047 GMT

Currently, BCH’s price is up $6.21 (1.23%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Cash Daily Price Recap

Bitcoin Cash is up 1.79% ($8.97) since the previous day, marking the 3rd day in a row an upward move has occurred. As for how volume fared, yesterday’s volume was up 29.74% from the previous day (Tuesday), and up 104.43% from Wednesday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 5th for the day in terms of price change relative to the previous day. Below is a 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 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For another vantage point, consider that Bitcoin Cash’s price has gone up 7 of the previous 10 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 Kenyath74042522:

    I sold all 4 of my eth and bought Bitcoin cash . Did u know if u buy $60,000 of it by the end of this year you will be a millionaire if we go back up . Of course I couldn’t afford 150 coins so I bought 25. If I had 50 I would at least made $250k Bt 150k fine

  • From ToshiSat0shi:

    #Crypto Top 5 by Total Volume$BTC Bitcoin $39,718.00 (38.77B)
    $ETH Ethereum $2,284.58 (28.01B)
    $AXS Axie Infinity $47.62 (5.88B)
    $BCH Bitcoin Cash $497.34 (3.41B)
    $ETC Ethereum Classic $48.91 (3.15B)

  • From lil_known_fact:

    @StackerSatoshi Well based on marketcap, there is a lot of absolute garbage waiting to be expunged from the top 20 as good projects people actually use see proper growth:
    Cardano, XRP, Bitcoin Cash, Litecoin, Ethereum Classic, Internet Computer

In terms of news links for Bitcoin Cash here’s one to try:

My introduction to Bitcoin Cash and Read.cash community

People always called me to help them in their farm land, and I enjoyed doing it because I am someone who doesn’t stay at home doing nothing, and because of my experience in farming I now have farmers as friends….I started working for him both at home and at his farm lands because he is a good Farmer indeed….Max took good time to teach me everything about BCH….Max has been a good help to this regard because I’ve been saving those BCH that he pays me for my education….Welcome to the BCH world….Thanks for accepting BCH for payment, and thanks for paying merchants with your BCH without changing them to fiat; it’s a good and fast way to push BCH usage in Africa and around the world.



This news is republished from another source. You can check the original article here.

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