Bitcoin Cash (BCH) Closes Last Hour Up $0.18; is Inching Close to 20 Day Average, 3 Day Down Streak Broken, Pin Bar Pattern Appearing on Chart

The Hourly View for BCH

Last Updated November 13, 2020, 02:037 GMT

At the time of this writing, BCH’s price is up $0.18 (0.07%) from the hour prior. BCH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 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

Bitcoin Cash is up 1.03% ($2.65) since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. As for how volume fared, yesterday’s volume was up 34.47% from the previous day (Wednesday), and up 128.49% from Thursday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 3rd for the day in terms of price change relative to the previous day. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Notably, Bitcoin Cash is now close to its 20, 100 and 200 day averages, located at 260.76, 254.66 and 249.16 respectively, and thus may be at a key juncture along those timeframes. Also of note is that on the 14 and 30 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 6 out of the past 10 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 Moon__Capital:

    @rogerkver Sometimes when I want a good laugh I think about the fact that @michael_saylor just bought $500,000,000 worth of Bitcoin and you’re still trying to convince coffee shops to accept Bitcoin cash for $3 lattes.

  • From micropresident:

    The “community” of Bitcoin Cash is still so convinced that low fees are going to get them overflow use from Bitcoin. People will just naturally go over… I find that absurd.

  • From BlockpartySh:

    @m4ktub2 ABC is still going ahead with their fork even though it’s worth $10 and has been rejected almost entirely on every level. After ABC forks off BCH can rebuild without the uncertainty and unprofessionalism of what was once the most popular Bitcoin Cash implementation.