Bitcoin Cash (BCH) Down $2.38 in Last 4 Hours, Entered Today Down 0.14%; Pin Bar Pattern Appearing on Chart

Bitcoin Cash 4 Hour Price Update

Updated May 24, 2020 07:17 PM GMT (03:17 PM EST)

Bitcoin Cash closed the previous 4 hours down 1.04% ($2.38); this denotes the 3rd candle in a row a decrease has occurred. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 2nd for the four-hour candle in terms of price change relative to the previous 4 hours.

Bitcoin Cash Daily Price Recap

The back and forth price flow continues for Bitcoin Cash, which started today off at 234.32 US dollars, down 0.14% ($0.34) from the day prior. This move happened on lower volume, as yesterday’s volume was down 33.23% from the day before — and down 23.63% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 2nd for the day in terms of price change relative to the day prior. Below is a daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone up 5 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 paolo_aga:

    In every uncensored forums BTC users are complaining about fees and long waits. BTC doesn’t work anymore as it was originally designed. It has been crippled.Take a look at BCH (Bitcoin Cash), backed by all the early adopters and the true Bitcoin supporters.

  • From KoushBCH:

    @greybtc @Bit_Faced @lunomoney @lopp @BTCTN @Cointelegraph @VitalikButerin All of this was discussed until 2017 and beyond. This is the sole reason a chunk of the community has forked off to Bitcoin Cash BCH. Because we wanted to go on with the p2p money nature of Bitcoin. Sorry that people have to go through another cycle of clogged Bitcoin BTC losing$

  • From planetaryjim:

    @counselorcurtis So you are saying I should use other forms of money such as gold and silver, cryptocurrencies like @anthemhayek has established or BitCoin cash as favoured by @rogerkver and so forth? Cool beans