The Hourly View for BCH
Last Updated May 4, 2021, 02:016 GMT
At the moment, Bitcoin Cash’s price is down $-1.01 (-0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin Cash. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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
The back and forth price flow continues for Bitcoin Cash, which started today off at 973.8 US dollars, down 3.26% ($32.83) from the previous day. This move happened on lower volume, as yesterday’s volume was down 33.87% from the day before — and down 0.77% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 6th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.
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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- From btcfork:
📢 Operators of Bitcoin Cash $BCH network nodes:Please upgrade to the latest version available for your client ahead of the ⏲️ network upgrade on 15 May, 2021* Bitcoin Cash Node 23.0.0
* BCH Unlimited 1.9.2
* bchd 0.17.1
* Bitcoin Verde v2.0.1
* Flowee 2021.03.1
* Knuth 0.9.1
- From cryp_trades:
Tether – Stable coinDogecoin – Elon musk hype.Cardano – No products yet, no use yet.Polkadot – Not a ready product, not as revolutionary as link.Uniswap – Nice but has less utility than link.Bitcoin cash and Litecoin are just copy of bitcoin and of no use.
- From JavierGonzalez:
@KimDotcom @1MightBePenguin @harmonylion1 Bitcoin Cash is a temporary name.In the future, after flippening, BCH will be 100% Bitcoin from all possible points of view.The Bitcoin whitepaper establishes a dynamic and adaptive PoW voting mechanism in order to overcome unimaginable future problems like takeovers.
For a longer news piece related to BCH that’s been generating discussion, check out:
Ahora, con el lanzamiento de la red de prueba, cualquier desarrollador pordrá experimentar una cadena lateral de Bitcoin Cash de alto rendimiento compatible con EVM….Él explicó que uno de los objetivos principales de smartBCH es mejorar el rendimiento de EVM y las aplicaciones Web3, permitiendo que las aplicaciones de Ethereum DeFi puedan migrar a la cadena lateral.