Bitcoin Cash (BCH) Price Near $530.29; Heads Down For the 2nd Day In A Row, But Still in an Uptrend Over Past 30 Days, Breaks Below 20 Day Average

The Hourly View for BCH

Last Updated February 25, 2021, 00:016 GMT

At the time of this writing, Bitcoin Cash’s price is up $2.77 (0.53%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Bitcoin Cash has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 closed the day prior down 17.96% ($113.1); this denotes the 2nd day in a row a decline has happened. The price move occurred on stronger volume; specifically, yesterday’s volume was up 38.83% from the day prior, and up 40.49% from the same day 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. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

First things first: Bitcoin Cash crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone down 6 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin Cash for the past day were:

  • From GeorgeDonnelly:

    We’re thinking of creating a #Bitcoin Cash #BCH “ambassador” program across Venezuela with the goal of onboarding 50,000 new people to Bitcoin Cash just in Venezuela by the end of this yearLooking to partner with other BCH companiesWe=@PanmoniCom @BitcoinCashSite @BCHLatam

  • From apagut:

    @KimDotcom @Satoshis_D Hey Kim! Big admirerWe @handcashapp ran away from Bitcoin Cash due to all the political fighting between developer groupsCan’t afford frequent breaking changesWish you the best, we still have love for the people that helped us back thenGlad to see them getting a big name!

  • From DavidShares:

    @PeterSchiff @CNBC @michael_saylor This has been the narrative for some years now. BTC is for speculation only. Bitcoin Cash (BCH) took over for BTC in 2017, and has been carrying the torch ever since for p2p cash for the world.