Bitcoin Cash (BCH) Closes Prior Hour Down -1.22%; Breaks Above 100 Day Average, But Still in a Downtrend Over Past 14 Days

The Hourly View for BCH

Last Updated May 21, 2021, 02:047 GMT

At the time of this writing, BCH’s price is down $-10.26 (-1.22%) from the hour prior. This is the 2nd consecutive hour BCH has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward 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 819.05 US dollars, up 17.56% ($122.33) since yesterday. This move happened on lower volume, as yesterday’s volume was down 36.53% from the day before — and down 43.2% from the same day the week before. Bitcoin Cash outperformed all 7 assets in the Top Cryptos asset class since yesterday. The daily price chart of Bitcoin Cash below illustrates.

Bitcoin Cash Technical Analysis

Notably, Bitcoin Cash crossed above its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For another vantage point, consider that Bitcoin Cash’s price has gone up 5 of the previous 10 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin Cash:

  • From SafemoonWarrior:

    #SAFEMOON is top 7 crypto by number of Reddit members with 230k subs. Ahead of XLM 188k, Tron TRX 109k, Bitcoin Cash 82k, Chainlink 56k or Uniswap 46k.Safemoon is 72 days old.

  • From PrasoonPratham:

    Over the years, there has been a lot of internal conflict in the bitcoin community because of its 1MB block size.Due to which ‘forks’ of bitcoin were made, mainly:
    A. Bitcoin Cash: 32MB
    B. Bitcoin Satoshi Vision: 2,000MBNeither of them are as successful as the original.

  • From ferpelliccioni:

    @JiangZhuoer @btopmining @btctop_official Mr. Zhuoer: I would love for you, the miners, to get more involved in the #Bitcoin Cash #BCH protocol development process. The final decision is always yours but we, the developers, need you in the early stages, so as not to repeat mistakes from the past. I count on you. Thanks