The Hourly View for BCH
Last Updated May 11, 2021, 02:045 GMT
At the time of this writing, BCH’s price is down $-2.73 (-0.2%) This is a reversal of the price action on the previous hour, in which price moved up.Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.Price action traders may also wish to note that we see a pin bar candlestick pattern on BCH.Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
bearishness bearish shorter duration moving averages are below the longer duration averages, implying a stable downward trend.Bitcoin Cash Daily Price Recap
The choppiness in the recent daily price action of Bitcoin Cash continues; to start today, it came in at a price of 1321.91 US dollars, down 7.54% ($107.86) since the day prior.As for how volume fared, yesterday’s volume was up 145.09% from the previous day (Sunday), and up 217.51% from Monday of the week before.
Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 5th for the day in terms of price change relative to the day prior.
Here is a daily price chart of Bitcoin Cash.Bitcoin Cash Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.For another vantage point, consider that Bitcoin Cash’s price has gone up 9 of the previous 14 trading days.Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 14, 30 and 90 day charts, may be slowing down and ready to reverse.
Overheard on Twitter From BCBacker :
As a reminder:I have 65% exited Bitcoin, Ethereum, and Cardano.I have zero exposure to DOT, DOGE, or BNB.I still have my positions in XRP, Bitcoin Cash, and Litecoin.Of the Top 10, those are the three I’m willing to continue full holding.That’s for me.You do you.From notgrubles :
Exchange folks wary to add “sats” as #BTC’s default because it might “confuse people”, while also having Bitcoin Cash listed…They know how powerful killing altcoin unit bias will be.
From btcfork :
It has come to my attention that certain crypto exchanges are sending out emails claiming there is going to be a hard fork of Bitcoin Cash (BCH) on May 15.That is incorrect.This upgrade contains no forking changes.There is no reason that exchanges should disrupt service.1/
For a longer news piece related to BCH that’s been generating discussion, check out:
Over 67,000 Fusions: Cashfusion Participants Have Fused Billions of Dollars in Bitcoin Cash – Privacy Bitcoin News
Since Cashfusion was introduced in November 2019, there’s been 67,845 fusions or $5.9 billion worth of bitcoin cash that’s been fused….Using today’s BCH exchange rates shows that’s more than $5.9 billion worth of bitcoin cash stretched across 67,845 fusions….What do you think about Cashfusion and Cashshuffle users mixing billions of dollars in bitcoin cash UTXOs? Post navigation.
