Bitcoin Cash Does it Again: Heads Down for the 8th Straight Day

The Daily View for Bitcoin Cash

  • At the moment, BCH’s price is down $-0.37 (-0.29%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin Cash. Given that we see downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily 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’s hourly price chart is shown below.

BCH

The Daily View for Bitcoin Cash

  • At the time of this writing, BCH’s price is down $-0.37 (-0.29%) from the day prior.
  • Bitcoin Cash has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin Cash. Given that we see downtrend on the 20, 10 and 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily 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.

Below is a daily price chart of Bitcoin Cash.

BCH

The Latest From BCH’s Blockchain

  • Over the past 96 days, the trend for BCH’s daily large transaction count has been choppy and unclear. It has oscillated between 0 and 0.
  • For BCH, its average transaction value is now at 0.
  • BCH has a count of active addresses of 0, NA NaN% from its value day prior.