Bitcoin Cash (BCH) Closes Prior Hour Up 0.73%; Price Base in Formation Over Past 30 Days, Makes Big Move Relative to Past Month, Heads Up For the 2nd Consecutive Day

The Hourly View for BCH

Last Updated April 6, 2021, 03:016 GMT

Currently, Bitcoin Cash’s price is up $4.7 (0.73%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Bitcoin Cash has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 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 came into today up 15.34% ($86.02) from the open of the day prior, marking the 2nd consecutive day an increase has occurred. The price move occurred on volume that was up 0.03% from the day prior, but down 18.24% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 3rd 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

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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 another vantage point, consider that Bitcoin Cash’s price has gone up 7 of the previous 10 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin Cash for the past day were:

  • From JasonYanowitz:

    Bitcoin Cash focused @BitcoinCom has just put Bitcoin(dot).com up for sale.The asking price for the domain name…$100 million.

  • From GeukensMathieu:

    @bishop_tighe Yes in 10 years it will be less volatile, I think the Anyhedge approach is great for people who don’t want to speculate. The contracts are trustless and bacled by BCH so you still increase the worth of Bitcoin Cash. Maybe these contracts will be tokenized in the future.

  • From smallcappick:

    It was a bullish day for the the majorsBinance Coin $BNB #Ripple’s #XRP rallied by 8.41% and by 9.69% respectively to lead the pack.$LINK (+4.96%), Ethereum (+3.35%), $LTC (+3.58%), and $DOT (+4.94%) also found strong support.bitcoin cash SV (+2.14%), $ADA (+1.71%)

As for a news story related to Bitcoin Cash getting some buzz:

Bitcoin vs Bitcoin Cash vs Bitcoin SV | CoinMarketCap

Some of the leading Bitcoin hard forks include Bitcoin Cash and Bitcoin SV….Others include Bitcoin Gold, Bitcoin Cloud, Bitcoin Classic, Bitcoin Private and many more.  Most of the forks are community-driven and are intended to add more functionalities to the conventional Bitcoin, or emanate from disagreements on critical features such as speed, transaction fees and block size….This was most recently seen when Bitcoin Cash was split into Bitcoin Cash ABC and Bitcoin Cash Node after a network upgrade, with the latter winning out in support and getting the BCH ticker on exchanges.  Importantly, after a hard fork, two decentralized networks cannot natively send messages between each other since they have no backward compatibility, unlike a soft fork….Bitcoin Cash is the second-largest fork of the Bitcoin network, next to BTC….‍ One of the visible differences between Bitcoin and Bitcoin Cash is the transaction fees….Although the costs fluctuate depending on either blockchain’s congestion, the Bitcoin network suffers from high transaction processing fees compared to Bitcoin Cash.