The Hourly View for BCH
Last Updated June 16, 2021, 05:016 GMT
At the time of this writing, Bitcoin Cash’s price is down $-0.35 (-0.06%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Bitcoin Cash has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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
The end of a 3 day positive run has come for Bitcoin Cash, which finished the previous day down 2.18% ($13.96). This move happened on lower volume, as yesterday’s volume was down 14.46% from the day before — and down 51.95% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.
Bitcoin Cash Technical Analysis
The first thing we should note is that Bitcoin Cash is now close to its 20 and 200 day averages, located at 650.36 and 602.03 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- From MichaelRippe:
Bitcoin Cash being more valuable by market cap than Chainlink is similar to valuing Borders bookstores above Amazon. We know how that worked out. Apologies to Bitcoin Cash holders for this tweet. Buy $LINK.
- From since78art:
Just bought my 133 $nano. @coinbase pissed me off enough to motivate me to jump in. Nano deserves its place in the top ten. It ain’t Bitcoin but it’s better than Bitcoin Cash and Litecoin and certainly doge or shib. Lol.
- From MTrenzs:
@cryptocrazy123 I suggest $BCH Bitcoin Cash
Bitcoin great for asset storage. Bitcoin Cash great for payments. Bitcoin Cash at $600 today. I expect $3,000+ this year. Why? More and more vendors accept crypto. Vendors want low fees and fast transactions. I’m bullish on [Bitcoin Cash]”.
For a longer news piece related to BCH that’s been generating discussion, check out:
Do all those merchants in the sign accept BCH?…Bitcoin Cash Accepted Here signage has been installed out the front of Ottos Precinct complex to publicly acknowledge that Bitcoin Cash as a currency has arrived….Great news Would you look at that, all…