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

The Daily View for Bitcoin Cash

  • Currently, BCH’s price is up $1.78 (0.48%) from the day prior.
  • Bitcoin Cash has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • 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

  • Currently, BCH’s price is up $1.87 (0.51%) from the day prior.
  • The daily chart shows that Bitcoin Cash has seen 2 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend 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.
  • 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 average transaction value is now at 0.
  • Over the past 29 weeks, the trend for BCH’s daily large transaction count has been choppy and unclear. It has oscillated between 0 and 102393.
  • 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 Long Bitcoin. MultiCycle Trend Analysis you may find interesting:

BTC held the same support trend line for the first two cycles. Seemed to hold in the 2018 bear market, until the Hash War & the subsequent Bitcoin Cash fork caused BTC to fall out of its 2 Cycle Support Trend Line in Nov. 2018. In Dec. 2018, BTC found a new support level and moved upward. BTC then failed to break 2 Cycle Support in June ‘19 and fell back to confir…

LordFarquad