Bitcoin Cash (BCH) Closes Prior Hour Up 0.19%; Heads Down For the 2nd Consecutive Day, Pin Bar Pattern Appearing on Chart

The Hourly View for BCH

Last Updated November 20, 2020, 03:016 GMT

Currently, BCH’s price is up $0.5 (0.19%) 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 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

Bitcoin Cash is down 0.36% ($0.89) since the day prior, marking the 2nd consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 10.51% from the day before — and down 36.08% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 6th for the day in terms of price change relative to the day prior. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Notably, the current price of Bitcoin Cash is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone down 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!