BCH’s Price May Be in A Downtrend, but RSI Suggests Caution

The Daily View for Bitcoin Cash

  • Currently, BCH’s price is down $-1.06 (-0.89%) from the day prior.
  • Bitcoin Cash has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 100 day moving average, resulting in them with price now being below it. The moving averages on the daily 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’s hourly price chart is shown below.

BCH

The Daily View for Bitcoin Cash

  • At the time of this writing, BCH’s price is down $-1.02 (-0.86%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • The moving averages on the daily 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.
  • Divergence alert: Trend in BCH’s price and its RSI are diverging. BCH’s price is declining slower than its RSI.

Below is a daily price chart of Bitcoin Cash.

BCH

The Latest From BCH’s Blockchain

  • Over the past 88 days, the trend for BCH’s number of daily new addresses has been choppy and unclear. It has oscillated between 0 and 0.
  • BCH’s number of daily new addresses now stands at 0.
  • BCH has a count of active addresses of 0, NA NaN% from its value day prior.