Bitcoin Cash (BCH) Closes Prior Hour Down -0.36%; Pin Bar Pattern Appearing on Chart, Moves Down For the 3rd Day In A Row

The Hourly View for BCH

Last Updated November 12, 2020, 02:038 GMT

Currently, BCH’s price is down $-0.91 (-0.36%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 100 hour changed directions on BCH; it is now pointing down. 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 closed the day prior down 0.05% ($0.14); this denotes the 3rd day in a row a decrease has occurred. As for how volume fared, yesterday’s volume was up 116.6% from the previous day (Tuesday), and up 94.03% from Wednesday of the week before. Those trading within the Top Cryptos asset class should know that Bitcoin Cash was the worst performer in the class during the day prior. Let’s take a look at the daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

The first thing we should note is that Bitcoin Cash is now close to its 20, 50, 100 and 200 day averages, located at 261.3, 245.57, 254.95 and 249.09 respectively, and thus may be at a key juncture along those timeframes. For additional context, note that price has gone down 9 out of the past 14 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

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

  • 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 stodd_j:

    My late 2020 predictions:BCHN will win the Bitcoin Cash civil warEth 2.0 will be unable to launchBSV wont move Satoshi’s coinsAnd the precedent thats set from these events is that crypto ossifies to the point where development groups lose power to unilaterally change them

  • From CryptoGulp:

    Top 10 Cryptocurrencies prices during the past 24 hoursStar 🌟 of the day was Chainlink $LINK, reaching a price of $13.05; an increase of 5.13% in 24 hours onlyBitcoin Cash $BCH was the biggest loser, it has dropped to $260.93, representing a loss of -3.33%

As for a news story related to Bitcoin Cash getting some buzz:

The Nov 15th 2020 Bitcoin Cash fork, and what it means for our customers

Your BitPay Card will continue to work whenever you pay with merchants or get cash from Mastercard® compatible ATMs. Do I need to do anything to prepare for the fork or are my funds at risk?…BCH funds you hold in your own wallet will not be at risk.