The Hourly View for BCH
Last Updated June 12, 2021, 02:048 GMT
Currently, BCH’s price is down $-5.86 (-1.05%) from the hour prior. BCH has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 is down 4.08% ($24.54) since the day prior, marking the 2nd straight day a decrease has occurred. This move happened on lower volume, as yesterday’s volume was down 19.9% from the day before — and down 49.02% from the same day 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 day prior. 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 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 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone down 6 them.
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin Cash:
- From _Max_Hastings:
Why am I big supporter of Bitcoin Cash? The simple reason is because it is the most fun one to use, it’s reliable, it’s cheap, and it’s accepted at many businesses and services.
- From RaidersAndKings:
@ShaunWitriol Wow! I tweeted and posted about a hard fork on reddit a few days after papa tweeted that. That would be crazy if it ends up happening. It would be like bitcoin cash to bitcoin right?
- From btcfork:
@kyletorpey @CryptoWyvern The reality is that the Lightning Network still does not work and is no scaling solution on BTC.While Bitcoin Cash $BCH is able to handle the growing load of a network that can again grow freely, showing people all over the 🌍 what Bitcoin was really supposed to be.P2P Cash.
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