The Hourly View for BCH
Last Updated October 15, 2020, 01:036 GMT
At the moment, BCH’s price is up $0.48 (0.19%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 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 came into today up 2.22% ($5.62) from the open of the day prior, marking the 8th straight day it has gone up. The change in price came along side change in volume that was down 1.07% from previous day, but up 171.59% from the Wednesday of last week. Bitcoin Cash outperformed all 7 assets in the Top Cryptos asset class since the day prior. The daily price chart of Bitcoin Cash below illustrates.
Bitcoin Cash Technical Analysis
Coming into today Bitcoin Cash is now close to its 100 day averages, located at 252.72 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin Cash:
- From WhiteRabbitBTC:
@saifedean Congrats! I’m confused why they still bought 2.4mm of shitcoins though:”Among what Gutmann calls “several” smaller funds is the NYDIG Basket Fund totaling $2.4 million, including bitcoin, ethereum, XRP, litecoin, and bitcoin cash. “
- From m4ktub2:
@galileo27102640 @BCHcain @deadalnix Following the now oldish mantra: everything that is possible will happen in Bitcoin. This makes the IFP as Bitcoin as ever.In other words, if SegWit does not make Bitcoin a non-Bitcoin then the IFP will also not make Bitcoin Cash a non-Bitcoin Cash.
- From ZamaniFinancial:
Bitcoin: 11480.59 💲 USDEthereum: 384.14 💲 USDLitecoin: 50.2 💲 USDDogecoin: 0.002641 💲 USD Yearn Finance: 16414.3 💲 USD Bitcoin Cash: 241.56 💲 USD Bitcoin SV: 169.49 💲 USD ZCash: 72.53 💲 USD Binance Coin: 31.17 💲 USD
For a longer news piece related to BCH that’s been generating discussion, check out:
The merge mining operation called HathorMM currently captures 33% of the Bitcoin Cash hashrate and the miners are also mining Bitcoinsv as well….The pool is a merge mining operation which means the miners can mine both bitcoin cash (BCH) and hathor (HTR)….An Egyptian bitcoin community is seeing a huge spike in the number of members interested in bitcoin mining and trading….China’s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far China’s central bank digital currency has been used in 3.13 million transactions worth about 1.1 billion yuan ($162 million) so far, the People’s Bank of China’s deputy governor has reportedly revealed.