Bitcoin Cash (BCH) Closes Prior Hour Up 0.49%; 2 Day Up Streak Ended, Price Base in Formation Over Past 14 Days, in a Downtrend Over Past 30 Days

The Hourly View for BCH

Last Updated June 3, 2021, 02:016 GMT

At the time of this writing, Bitcoin Cash’s price is up $3.4 (0.49%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 50 hour moving average has been crossed, so that price is now turning above 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 entered today at $691.07, down 1.71% ($11.99) from the day prior. This move happened on lower volume, as yesterday’s volume was down 27.91% from the day before — and down 66.33% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 3rd since the day prior in terms of percentage price change. Below is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Volatility for Bitcoin Cash has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Also of note is that on a 14 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 14 days Bitcoin Cash’s price has gone down 9 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin Cash:

  • From Lev_Mazur:

    Solana, Bitcoin cash, Theta and Uniswap crypto pairs traded at Binance spot prices with zero fees of any kind and with guaranteed execution of trades will be added in Quantfury app this month.

  • From IamNomad:

    Scheduled tweet – as long as I’m thinking about Blockstream. How about you guys stop trying to continue the ’17 bitcoin cash propaganda of “Blockstream control bitcoin”? Github measurements, dev meeting notes, IRC chat – every measurable metric disagree.

  • From BanisterG:

    XRP CASH ( RELEASED 5 MIN AGO)XRP Cash is, in short, a rug-proof, ownership renounced, community driven project that will bring rivalry to XRP with positive vibes only. Bitcoin Cash reached an ATH of 0.25 Bitcoin. Our first goal is for XRP Cash to reach 1% of Ripple’ +++

For a longer news piece related to BCH that’s been generating discussion, check out:

About Bitcoin Cash BCH | BitcoinCash.site

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