Bitcoin Cash (BCH) Price Near $342.24; Moves Down For the 2nd Straight Day, Pin Bar Pattern Appearing on Chart, in an Uptrend Over Past 90 Days

The Hourly View for BCH

Last Updated January 2, 2021, 02:048 GMT

At the time of this writing, BCH’s price is up $1.37 (0.4%) from the hour prior. BCH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 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 previous day down 0.02% ($0.07); this denotes the 2nd straight day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 16.27% from the day before — and down 40.4% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 6th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Bitcoin Cash’s price has gone up 9 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

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

  • From basedkarbon:

    Buddy of mine voluntarily chose to long bitcoin cash yesterday. Bitcoin cash, the bitcoin that’s so irrelevant that they had a chain split recently and barely anybody noticed. Imagine longing bcash going into 2021

  • From OlavOlsm:

    @novogratz Bitcoin Cash has the best chance because “A Peer-to-Peer Electronic Cash System” has always been the main goal and it already is fast, free and reliable for payments and it has the highest adoption growth and highest positive network effect in regards to merchants and customers.

  • From BlockpartySh:

    My new years resolution is for Bitcoin Cash to go up, so we can better compete against the US dollar. I’m going to work towards this every day.

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

Blockchain Projects Detoken and Anyhedge Launch Bringing Defi to Bitcoin Cash | Smart Contracts Bitcoin News

by
Jamie Redman
On December 30, the decentralized finance (defi) platform Detoken and the firm General Protocols announced the launch of Anyhedge, the first public defi product built on the Bitcoin Cash network….The team from Detoken and the organization General Protocols recently launched the Anyhedge protocol and Detoken, a noncustodial, browser-based wallet….What do you think about Detoken and the Anyhedge protocol?