The Hourly View for BCH
Last Updated June 10, 2021, 02:045 GMT
At the time of this writing, BCH’s price is up $0.62 (0.1%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as BCH has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on BCH. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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
633.29 (USD) was the opening price of the day for Bitcoin Cash, resulting in the day prior being one in which price moved up 6.26% ($37.29) from the day prior. The price move occurred on volume that was down 27.86% from the day prior, but up 5.12% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 3rd since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.
Bitcoin Cash Technical Analysis
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. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone up 5 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- 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 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 bitcoinkaiser:
Does anyone know if the El Salvador law specifies what “Bitcoin” means? Does it specifically mention the SegWit chain & BTC ticker symbol and if not does this mean that BSV and Bitcoin Cash are also now legal tender?
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