Bitcoin Cash (BCH) Closes Prior Hour Up 0.6%; in a Downtrend Over Past 14 Days

The Hourly View for BCH

Last Updated June 11, 2021, 20:16 GMT

At the moment, Bitcoin Cash’s price is up $3.53 (0.6%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend 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

601.52 (USD) was the opening price of the day for Bitcoin Cash, resulting in the previous day being one in which price moved down 5.02% ($31.77) from the previous day. This move happened on lower volume, as yesterday’s volume was down 28.15% from the day before — and down 20.62% from the same day the week before. 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 previous day. Here is a daily price chart of Bitcoin Cash.

BCH

Bitcoin Cash Technical Analysis

Notably, the current price of Bitcoin Cash is sitting close to its 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 18 out of the past 30 days.

Overheard on Twitter

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

  • From bitcoinkaiser:

    Does anyone know if the El Salvador law specifies what “Bitcoin” means? Does it specifically mention the SegWit chain & BTC ticker symbol and if not does this mean that BSV and Bitcoin Cash are also now legal tender?

  • From DavidShares:

    @CaitlinLong_ @nayibbukele Centralized databases (Strike) have always been able to scale fast. That’s not innovative. They can try to use BTC but fees will kill Salvadorans. It’s better to have them use Bitcoin Cash #BCH @nayibbukele.

  • From TomFromTartu:

    @MyLegacyKit Bitcoin Cash Satoshi’s Vision Enterprise Utility Blockchain…Need to fork it soonBitcoin Cash Satoshis True Vision Enterprise Utility Blockchain The Actual Real One This Time Cash