Thinking About Riding the BCH Uptrend? Read This First

The Daily View for Bitcoin Cash

  • At the moment, BCH’s price is up $1.6 (0.27%) 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 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.
  • Of note is that the 20 and 50 day changed directions on BCH; they are now pointing down. 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 moment, BCH’s price is up $1.7 (0.29%) 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 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 alert: Trend in BCH’s price and its RSI are diverging. BCH’s price is rising slower than its RSI.

Below is a daily price chart of Bitcoin Cash.

BCH

The Latest From BCH’s Blockchain

  • BCH’s daily large transaction count now stands at 900.
  • Over the past 29 weeks, BCH’s daily transaction count has been in a clear downtrend, falling by about 1155.65 per day.
  • BCH has a number of daily new addresses of 50225, up 12.6% from its value day prior.