The Hourly View for BCH
Last Updated June 2, 2021, 04:016 GMT
Currently, Bitcoin Cash’s price is up $2 (0.29%) from the hour prior. This is the 2nd straight hour Bitcoin Cash has seen its price head up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Of note is that the 20 hour changed directions on BCH; it is now pointing up. 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 entered today at $691.07, down 1.71% ($11.99) from the day prior. This move happened on lower volume, as yesterday’s volume was down 27.91% from the day before — and down 66.33% 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. Let’s take a look at the daily price chart of Bitcoin Cash.
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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. 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. For additional context, note that price has gone down 9 out of the past 14 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 Lev_Mazur:
Solana, Bitcoin cash, Theta and Uniswap crypto pairs traded at Binance spot prices with zero fees of any kind and with guaranteed execution of trades will be added in Quantfury app this month.
- From IamNomad:
Scheduled tweet – as long as I’m thinking about Blockstream. How about you guys stop trying to continue the ’17 bitcoin cash propaganda of “Blockstream control bitcoin”? Github measurements, dev meeting notes, IRC chat – every measurable metric disagree.
- From Naturalmed777:
@Robin54516345 Yes that’s what it normally means, you end up with two XLM ledgers like they forked bitcoin cash from bitcoin. If Bitrue is correct this would be huge.
As for a news story related to Bitcoin Cash getting some buzz:
Source of Image: link (modified) It is still inevitable that Bitcoin will remove the power of finance from governments control and empower the individual….Source of Image Bitcoin progressed and upgraded but not with its old BTC version….Meanwhile, the real Bitcoin progressed and advanced to meet demand within Bitcoin Cash….Bitcoin Cash is the epitome of financial progress and inspires a productive future far from big governments.