The Hourly View for BCH
Last Updated March 19, 2021, 03:016 GMT
At the time of this writing, Bitcoin Cash’s price is up $1.91 (0.36%) from the hour prior. Bitcoin Cash has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on BCH; it is now pointing up. 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
527.96 (USD) was the opening price of the day for Bitcoin Cash, resulting in yesterday being one in which price moved down 2.49% ($13.47) from yesterday. The price move occurred on volume that was up 9.59% from the day prior, but down 40.86% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 5th since yesterday in terms of percentage price change. Below is a daily price chart of Bitcoin Cash.
Bitcoin Cash Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Bitcoin Cash crossed below its 50 day moving average yesterday. Volatility for Bitcoin Cash has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For additional context, note that price has gone up 16 out of the past 30 days.
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin Cash:
- From BitcoinCashCom2:
There’s so much bad things going around the world. If I think about it too much, it drives me crazy. For my mental well being and mental health, I will just focus on growing Bitcoin Cash. Bitcoin Cash makes me happy and it gives me hope and happiness in a world of darkness.
- From california_hodl:
A real-life friend reached out to me today saying he was googling how to buy bitcoin.He went to bitcoin dot com & got all confused.I told him thats for an inposter coin called Bitcoin cash. They are not thay same.I feel bad for all the nocoiners that will make this mistake
- From namlyd:
A few weeks ago, when bitcoin was $52000 & bitcoin cash was $482, a friend sent me $80 of bitcoin cash to get me started in this world. I changed some to bitcoin. Today with both at higher prices than I got them (55k & 520), I’m $8 poorer. What gives?
For a longer news piece related to BCH that’s been generating discussion, check out:
Here we can see that Bitcoin’s daily economic activity ranges between 1B and 3B (USD) at a price of $4,000 to $12,000….Looking at the above chart, we can see that while Bitcoin Cash’s economic activity was very high in the hype of 2017, it failed to retain a significant portion of the economic activity on Bitcoin, explaining the reality that the price of Bitcoin Cash has been declining with regards to Bitcoin….As we can see in the following chart: economic activity picks up on Bitcoin Cash at the point where it became clear that the mean transaction fee on Bitcoin would not fall back below $5….While it is difficult to know for a fact that the relatively large increase in economic activity on Bitcoin Cash is occurring due to new activity emerging or because of existing activity migrating from Bitcoin, the timing of the economic activity increase being perfectly timed with the transaction fees on Bitcoin increasing steadily and showing no signs of slowing — points to it being the latter; economic activity is shifting from Bitcoin to Bitcoin Cash despite having much lower liquidity….It is also possible that Bitcoin’s baseline economic activity that has supported its price until now has recently shifted to Bitcoin Cash.