Bitcoin Cash (BCH) Closes Prior Hour Up 0.3%; Moves Down For the 2nd Consecutive Day, in a Downtrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for BCH

Last Updated June 9, 2021, 09:016 GMT

Currently, Bitcoin Cash’s price is up $1.77 (0.3%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Cash Daily Price Recap

Bitcoin Cash came into today down 0.05% ($0.32) from the open of yesterday, marking the 2nd consecutive day a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 53.56% from the day prior, and up 18.43% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 3rd for the day in terms of price change relative to yesterday. Here is a daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 200 day averages, located at 591.22 respectively, and thus may be at a key juncture along those timeframes. 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 5 of the previous 10 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

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

• From thecryptokidd:
  

  Bitcoin isn’t what you’re being sold.Cryptocurrency is an opportunity to bring greater freedoms that may enhance your own life, and the lives of others.You can buy into a sales pitch, or you can start regaining your freedom. Use Bitcoin as cash. Use Bitcoin Cash. #BCH

• From Bluelinedeli719:
  

  Well, starting tomorrow anyone who uses the @coinbase app/wallet can pay with crypto at Blue Line Deli! We will start there and see how it goes! We accept most major cryptos. Bitcoin, Ethereum, Doge, Bitcoin cash, Bitcoin sv, Stellar Lumens, and more! Fun stuff!!!!

• From GeorgeDonnelly:
  

  If your coin is a premine/ICO, it might be fun for now or even be useful for XYZ use cases, but it’s not #Bitcoin Cash #BCH sound money for the globe with micro fees.