Bitcoin Cash (BCH) 6 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart

Bitcoin Cash Price Recap

Bitcoin Cash is down 0.53% since yesterday, marking day in a row it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 19.54% from the day prior, and up 47.72% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 2nd yesterday in terms of percentage price change. Below is a price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 20 day averages, located at 425.92 respectively, and thus may be at a key juncture along those timeframes. Volatility for Bitcoin Cash has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 20 out of the past 30 days. Also, candlestick traders! Note we see pin bar

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin Cash:

  • From MarkLundeberg:

    Regarding the Bitcoin Cash Infrastructure Funding Plan, I am certain now that it should be scrapped immediately.

  • From CoinBlockDesk:

    People who support BCH tax: ☑️Amaury Sechet
    ☑️All BSV investors
    ☑️All BTC investors
    ☑️Socialists and communists around the world❌Everyone who owns or mines Bitcoin Cash

  • From CryptoKelso:

    Bitcoin Cash already has a marketing arm and giant, uncritical site. You want a friend, get a dog. You want to know what’s going on in P2P electronic cash, read CoinSpice.

As for a news story related to Bitcoin Cash getting some buzz:

Alt Brew + North Queensland + Bitcoin Cash = win : btc

Merchants love that they can avoid bank fees and hence make more money on each BCH sale….Do not forget that merchants holding BCH after a sale can easily weather quite a lot of volatility before they begin to lose money as they have a profit margin in there.