Bitcoin Cash Does it Again: Heads Up for the 2nd Straight Day

The Daily View for Bitcoin Cash

  • At the time of this writing, BCH’s price is up $2.12 (0.31%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily 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’s hourly price chart is shown below.

BCH

The Daily View for Bitcoin Cash

  • At the time of this writing, BCH’s price is up $2.03 (0.3%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Bitcoin Cash has now gone up 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • The moving averages on the daily 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.
  • Divergence between BCH’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BCH’s price.

Below is a daily price chart of Bitcoin Cash.

BCH

The Latest From BCH’s Blockchain

  • For BCH, its daily large transaction count is now at 0.
  • Over the past 29 weeks, the trend for BCH’s daily transaction count has been choppy and unclear. It has oscillated between 0 and 370454.
  • BCH has a count of active addresses of 0, NA NaN% from its value day prior.

Featured Bitcoin Cash Idea From TradingView

Below is a trading comment entitled Bitcoin Cash (BCHUSD): Structure Breakout & Bullish Continuation you may find interesting:

https://www.tradingview.com/x/fs75O9WQ/ Bitcoin cash broke and closed above a key daily resistance cluster.Now we see its retest.I will expect a bullish wave from 622 – 656 demand area.Next goal for buyers 782 – 802 resistance area. ❤️Please, support this idea with like and comment!❤️

VasilyTrader