Bitcoin Cash (BCH) Closes Last Hour Down $-8.72; Heads Up For the 3rd Consecutive Day, in a Downtrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for BCH

Last Updated March 5, 2021, 00:016 GMT

Currently, Bitcoin Cash’s price is down $-8.72 (-1.73%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, with price now being below it. 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 closed yesterday up 0.87% ($4.48); this denotes the 3rd consecutive day an upward move has occurred. This move happened on lower volume, as yesterday’s volume was down 30.9% from the day before — and down 49.67% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 6th since yesterday in terms of percentage price change. The daily price chart of Bitcoin Cash below illustrates.

BCH

Bitcoin Cash Technical Analysis

The first thing we should note is that Bitcoin Cash is now close to its 50 day moving averages, which may act as price barrier for the asset. 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 down 6 out of the past 10 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 WGMeets:

    My Sega Genesis piece drop will be a 2 day virtual queue with a raffle ID emailed to your excite email. Only open closed editions for 7 minutes, after that 1000 will be minted on a custodial wallet and sent to your Top 5 on Mi Gente once you pay with wrapped Bitcoin Cash on ETH.

  • From BitcoinCashCom2:

    @cryptomedius @MarcDeMesel It will once whoever is suppressing the price is unable to suppress it anymore. There is no way that a usable crypto is valued less than an inferior unusable crypto. Whatever BTC can do, Bitcoin Cash can do much better, not to mention BCH has tokens, privacy, defi contracts, etc.

  • From spee1111:

    Anybody who didn’t buy Bitcoin in the last ten years has a second opportunity to buy Bitcoin. Its called Bitcoin Cash aka BCH. Read the white paper!!!! Esp the title. A P2p electronic CASH system.

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

NFT Overtakes Litecoin, Bitcoin Cash, and XRP on Google

Statistics from Google show that NFTs enjoyed a sharp rise in (search) popularity from around February 11 to the end of the month….Compared with BTC, however, NFTs are still yet to get off the ground in South Korea, the statistics show.