Bitcoin Cash (BCH) Closes Prior Hour Up 0.01%; Price Base in Formation Over Past 30 Days, Crosses 50 Day Moving Average, Heads Up For the 5th Day In A Row

The Hourly View for BCH

Last Updated April 3, 2021, 02:046 GMT

At the time of this writing, BCH’s price is up $0.08 (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on BCH. Given that we see an uptrend on the 20 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

Bitcoin Cash is up 4.52% ($25.14) since the day prior, marking the 5th day in a row an increase has occurred. The change in price came along side change in volume that was down 33.56% from previous day, but up 56.61% from the Friday of last week. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 4th for the day in terms of price change relative to the day prior. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

First things first: Bitcoin Cash crossed above its 50 day moving average yesterday. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 18 out of the past 30 days.

Overheard on Twitter

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

  • From oscarsalas93:

    @KimDotcom I appreciate you supporting BCH. From someone who is been supporting Bitcoin Cash for years, having a voice like yours supporting this movement is amazing. I hope you stay for the long run!

  • From aww_tism:

    @lexfridman @nic__carter Hey Lex. Just 2 months ago there was a rasp pi 4 validating a 6 hr streak on BCH’s scalenet. Over the 6hr streak, there was 14 blocks, of which 11-12 were full (256MB – 1.3m tx) tx were generated at a rate of 1100tx/s.
    Bitcoin Cash is currently processing more tx than btc daily.

  • From thecryptokidd:

    When @Tesla accepts Bitcoin Cash for their vehicles and @SpaceX accepts Bitcoin Cash for off grid satellite internet with Starlink…things are going to start getting interesting.

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

Ethereum Sets a New All-Time High Above the $2K Handle, Bitcoin Cash Markets Jump 8% – Markets and Prices Bitcoin News

What do you think about ethereum and bitcoin cash market gains today?…Tesla Begins Accepting Bitcoin — Elon Musk Says BTC Payments Will Not Be Converted to Fiat Currency Elon Musk’s electric car company, Tesla, has started accepting bitcoin payments.