Bitcoin Cash (BCH) Price Near $667.57; Moves Down For the 2nd Day In A Row, in a Downtrend Over Past 30 Days, Price Base in Formation Over Past 14 Days

The Hourly View for BCH

Last Updated June 7, 2021, 02:016 GMT

At the time of this writing, Bitcoin Cash’s price is up $0.61 (0.09%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on Bitcoin Cash. Given that we see an uptrend on the 10 and 5 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Cash Daily Price Recap

Bitcoin Cash closed the previous day down 3.3% ($22.13); this denotes the 2nd day in a row a decline has happened. This move happened on lower volume, as yesterday’s volume was down 22.51% from the day before — and down 51.32% 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

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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 14 days Bitcoin Cash’s price has gone down 8 them.

Overheard on Twitter

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

  • From BitcoinCashCom2:

    Bitcoin Cash, as a means of exchange, brings liberty and freedom to humanity. It can also be a digital gold or store of value, if that’s what you like, but it must fundamentally first be a means of exchange. No amount of propaganda or lies against Bitcoin Cash can change that.

  • From KalebPrime:

    Oh yeah, between this 12 hour bullshit I found a bakery that accepts Bitcoin Cash as payment.Completely unrelated to that disaster, just something I found rather peculiar. Crypto bread lol

  • From mojitofinito:

    @BBCNews Lightning is a bitcoin Layer 2 infrastructure that is able to process 1 million transactions per second and will be used in El Salvador.
    Roger Ver is the head of Bitcoin Cash, no wonder he uses this interview to shill his now redundant project… #btc

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

Localbitcoins Adds Bitcoin Cash and Other Cryptocurrencies as Payment Methods – Bitcoin News

by
Sergio Goschenko
Localbitcoins, one of the biggest P2P exchanges in the world, has added Bitcoin Cash and other cryptocurrencies as payment methods to acquire Bitcoin on its platform….Localbitcoins, one of the biggest P2P cryptocurrency exchanges in the world, is now allowing its users to purchase Bitcoin with other cryptos, in a departure from its earlier Bitcoin-only approach.