Bitcoin Cash (BCH) Closes Prior Hour Down -0.65%; Heads Up For the 7th Day In A Row, Crosses 100 and 200 Day Moving Averages, is Inching Close to 100 Day Average

The Hourly View for BCH

Last Updated October 14, 2020, 01:036 GMT

At the time of this writing, BCH’s price is down $-1.68 (-0.65%) 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 100 hour timeframe. 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

Bitcoin Cash is up 5.67% ($13.61) since the previous day, marking the 7th day in a row an upward move has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 72.59% from the day prior, and up 52.96% from the same day the week before. On a relative basis, the previous day was pretty good: Bitcoin Cash bested all 7 of the assets in the Top Cryptos class 🙂 Below is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Notably, Bitcoin Cash crossed above its 100 and 200 day moving averages yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone up 9 them.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin Cash:

  • From TheCryptoLark:

    #bitcoin cash $bch has 1/50th the hash rate of $btc and 1/15th the daily transactions. I am genuinely surprised that it is still a top 5 coin.

  • From DontTraceMeBruh:

    At this rate, XMR will surpass the tx/day of the Bitcoin Cash network very soon. This is significant because BCH is currently #5 by marketcap. So, not only will Monero (#15) soon perform more transactions than the #5 coin, but all tx are completely anonymous and untraceable!

  • From Jack_Russell_UK:

    @ErikVoorhees @devilninja777 @StoneyBitson No, just no.Cloning is the easy bit.
    Getting people to find and use it is the hard bit. To build up the network of users that actually give any given platform its value.See bitcoin cash, for a good example.

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

Cryptocurrencies Price Prediction: Bitcoin Cash, Ripple & Cosmos – Asian Wrap 11 Oct | Forex Crunch

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