The Hourly View for BCH
Last Updated October 30, 2020, 01:037 GMT
Currently, BCH’s price is down $-0.91 (-0.34%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Of note is that the 20 hour changed directions on BCH; it is now pointing down. 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
The choppiness in the recent daily price action of Bitcoin Cash continues; to start today, it came in at a price of 267.59 US dollars, down 0.39% ($1.05) since yesterday. The price move occurred on volume that was up 2.19% from the day prior, but down 39.43% 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. The daily price chart of Bitcoin Cash below illustrates.
Bitcoin Cash Technical Analysis
Notably, Bitcoin Cash is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Bitcoin Cash’s price has gone up 19 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
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 thebitsian:
I have no idea why it’s obligatory for anyone introducing crypto to their users (including Paypal and DBS) to have both Bitcoin and Bitcoin Cash. Both the branding & use cases are confusing for anyone new to this world. Just have Bitcoin & Ethereum or keep it Bitcoin only.
- From MASTERBTCLTC:
Let me repeat this. Paypal is adding litecoin. Which would you buy? $13,270 bitcoin
$277 bitcoin cash Or litecoin at $57The people will buy litecoin 10:1 over the others Load up now 💥💥💥💥
- From HodlSouth:
Johnny was a funny chap,
Went long on bitcoin cash
“Bigger blocks are better” he said,
“BTC is trash” From the rooftops he exclaimed
“Bcash is the best”
Unknowingly poor Johnny had
Just poked the Hornet’s nest
For a longer news piece related to BCH that’s been generating discussion, check out:
The BU Mining Guarantee will provide a guarantee to all Bitcoin Cash miners and pools running Bitcoin Unlimited to produce blocks….Bitcoin Unlimited will replace any mining reward that is…