Bitcoin Cash Does it Again: Heads Down for the 9th Straight Day

The Daily View for Bitcoin Cash

  • At the moment, BCH’s price is down $-0.92 (-0.73%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • 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 $-0.88 (-0.7%) 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 20 day timeframe.
  • 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

  • For BCH, its average transaction value is now at 0.
  • Over the past 95 days, the trend for BCH’s average transaction value has been choppy and unclear. It has oscillated between 0 and 0.
  • BCH has a daily transaction count of 0, NA NaN% from its value day prior.

Featured Bitcoin Cash Idea From TradingView

Below is a trading comment entitled BCHUSD ❕ no liquidity under the price you may find interesting:

BCH is moving in a downward channel.The next target is the 2019 ATL.There is no liquidity under the price.Main MAs on the 1D Timeframe are bearish.I expect the price will continue to decline after it has fixed under the resistance level.

Solldy