The Hourly View for BCH
Last Updated December 22, 2020, 03:016 GMT
At the time of this writing, Bitcoin Cash’s price is down $-2.04 (-0.65%) 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 20 hour timeframe. 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
The end of a 3 day positive run has come for Bitcoin Cash, which finished the day prior down 10.28% ($35.92). As for how volume fared, yesterday’s volume was up 155.42% from the previous day (Sunday), and up 490.13% from Monday of 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. Let’s take a look at the daily price chart of Bitcoin Cash.
Bitcoin Cash Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 30 days Bitcoin Cash’s price has gone up 16 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 14 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 CrypteriumSupp1:
Bitcoin Cash $BCH is one of the most promising #Bitcoin forks with low fees and high speed. But do you know that the ATH reached in 2017 was around $4360, while the current price is $350? Does it mean that we a chance to see an 1100% increase soon? Get in until it’s too late.
- From CollinEnstad:
@elonmusk @michael_saylor Yes but small ones aren’t due to high transaction fees.And for the people saying “jUsT uSe LiGhTnInG” you still need to use a high fee on chain transaction to get onto lightning.This is the sole reason Bitcoin Cash was created
- From wisewizzz:
@timgraham81 @rogerkver @elonmusk @michael_saylor Every Bitcoin Cash user can transact on the chain so they can be their own bank and hold their private keys since the fees are so low. By contrast, when you use custodial services like cashapp, you rely on that company. They may censor you.
In terms of news links for Bitcoin Cash here’s one to try:
BCH has implemented an increased block size of 8 MB to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it.
Bitcoin Cash is thus able to process transactions more quickly than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower….The Bitcoin Cash network can handle many more transactions per second than the Bitcoin network can….”Bitcoin Transaction Rate,” Accessed Jan….”Bitcoin Cash 8MB Block Clears Over 37,000 Transactions,” Accessed Jan.