Bitcoin Cash (BCH) Closes Last Hour Down $-0.42; Moves Down For the 2nd Straight Day, Breaks Below 200 Day Average, Eyes 200 Day Average

The Hourly View for BCH

Last Updated October 18, 2020, 01:036 GMT

Currently, BCH’s price is down $-0.42 (-0.17%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on BCH. Given that we see downtrend 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

Bitcoin Cash is down 2.05% ($5.12) since the day prior, marking the 2nd straight day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 59.9% from the day before — and down 10.65% from the same day the week before. On a relative basis, Bitcoin Cash was the worst performer out of all 7 of the assets in the Top Cryptos asset class during the day prior. Below is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Bitcoin Cash crossed below its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Bitcoin Cash’s price has gone up 18 them.