Momentum Reversal? Bitcoin Cash’s Heads Up for the First Time in 3 Days

The Daily View for Bitcoin Cash

  • Currently, BCH’s price is up $0.51 (0.29%) 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 trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • 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 $0.68 (0.39%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend 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 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.

Below is a daily price chart of Bitcoin Cash.

BCH

The Latest From BCH’s Blockchain

  • Over the past 100 days, the trend for BCH’s daily transaction count has been choppy and unclear. It has oscillated between 0 and 0.
  • BCH’s daily transaction count now stands at 0.
  • BCH has a number of daily new addresses of 0, NA NaN% from its value day prior.