Bitcoin Cash (BCH) Closes Prior Hour Up 0.75%; 3 Day Up Streak Snapped, Bearish Engulfing Pattern Present, But Still in an Uptrend Over Past 30 Days

The Hourly View for BCH

Last Updated April 30, 2021, 23:16 GMT

At the time of this writing, Bitcoin Cash’s price is up $7.38 (0.75%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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

Bitcoin Cash is down 3.3% ($30.08) since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. This move happened on lower volume, as yesterday’s volume was down 33.84% from the day before — and down 57.51% 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. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

The first thing we should note is that Bitcoin Cash is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Bitcoin Cash’s price has gone up 17 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 30 and 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin Cash:

  • From udiWertheimer:

    every time i hear someone say that #bsc is going to end up like bitcoin cash, i get bullish and increase my bnb position by 30%which translates to $0 because i’m poor and can’t afford to invest in these thingsbut it’s the intention that counts

  • From GadgTecs:

    @CoinMarketCap 1. Ethereum – Best investment in terms of value
    2. Bitcoin Cash – Easy and fast transactions
    3. USDT – Need some stability and ease of transfer
    4. BNB – Binance is after all the biggest non-Chinese exchange
    5. Bitcoin – The big, one and only! No wallet is complete without it

  • From jajaaSB:

    I was introduced to know Bitcoin Cash, but I started doing everything myself, I was not told to do. FYI

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

The Benefits of Coupling Ethereum With Bitcoin Cash: Smartbch Sidechain Testnet Is Now Public – Interview Bitcoin News

by
Jamie Redman
On Thursday, the Smart Bitcoin Cash team announced the launch of the Smartbch testnet explaining that developers and decentralized app makers can now experiment and develop with the high-performance, EVM-compatible Bitcoin Cash sidechain….Further, Bitcoin.com News spoke with Wang Kui the lead developer of the Smartbch project….During the last few weeks, the Smartbch project has been a topical conversation within the Bitcoin Cash (BCH) community….This is because the Smartbch project is a sidechain built on Bitcoin Cash and it leverages the BCH chain’s lower transaction fees….“However, as a sidechain to Bitcoin Cash, Smartbch aims to build a new playground for the Bitcoin Cash ecosystem and enlarge the user base.” Wang Kui the lead developer of the Smartbch further discussed the protocol with Bitcoin.com News this week….WK: Bitcoin Cash miners can vote for their validators on Smartbch and get gas fee rewards, such that they can benefit from decentralized finance (defi) applications on Smartbch.