The Hourly View for BCH
Last Updated January 4, 2021, 01:016 GMT
At the time of this writing, Bitcoin Cash’s price is down $-0.48 (-0.11%) from the hour prior. This is the 2nd straight hour Bitcoin Cash has seen its price head down. 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 an uptrend on the 20 and 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 354.56 US dollars, up 3.56% ($12.18) from yesterday. The price move occurred on volume that was up 56.14% from the day prior, but down 22.45% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.
Bitcoin Cash Technical Analysis
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin Cash’s price has gone up 9 of the previous 14 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- From lite_hause:
PayPal is a payment’s company.Litecoin is a better coin for payments compared to Bitcoin Cash, Bitcoin, and Ethereum.Do the math.
- From EconomicRenegad:
@BerwickJeff Bitcoin & Bitcoin Cash were created by JP Morgan coders. @rogerkver knows it. The entire crypto space was created by the secret societies to digitize everyone and everything to prepare them for the social credit system. Look at the QR codes being rolled out. It’s access control.
- From moon_shine15:
Better R/R in bitcoin cash for next few months imo —- will want to have very very large position for the high time frame breakout over 370-380 and a fullly loaded boat by the time it breaks 2019/2020 pre covid highs 550 zone $BCH #BitcoinCash
In terms of news links for Bitcoin Cash here’s one to try:
Where do I see Bitcoin Cash in 3 to 5 years….I’m expecting the cost to drop to such low levels for such hardware that this opens up the Bitcoin Cash usecase to the next billion unbanked to participate in the global, Bitcoin Cash economy….Which basically means we need to make it easy for more people to start using Bitcoin Cash….With that knowledge, lets move on to the next prediction: Some time not too far from now we will see more existing companies take an interest in Bitcoin Cash in order to add support in their existing products….Basically this will make the number of brick-and-mortar merchants that accept Bitcoin Cash grow tremendously….I mean that a company can exploit its platform advantage by shipping a bitcoin cash wallet that is made the default for those platform users…