Bitcoin Cash (BCH) Closes Prior Hour Up 2.97%; Makes Big Move Relative to Past Month, Breaks Below 50 and 100 Day Averages, in an Uptrend Over Past 90 Days

The Hourly View for BCH

Last Updated May 20, 2021, 02:045 GMT

Currently, BCH’s price is up $20.16 (2.97%) from the hour prior. The hourly chart shows that BCH has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 696.72 US dollars, down 36.12% ($394.01) since yesterday. The change in price came along side change in volume that was up 193.45% from previous day, but down 7.31% from the Wednesday of last week. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 5th since yesterday in terms of percentage price change. The daily price chart of Bitcoin Cash below illustrates.

Bitcoin Cash Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Bitcoin Cash crossed below its 50 and 100 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that Bitcoin Cash’s price has gone up 7 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 90, 14 and 30 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin Cash:

  • From KonraToken:

    Konra can be used for tipping, as a merit system and peer to peer currency. I’m hoping it’ll help boost Bitcoin Cash too.If you don’t have any Konra yet, please post your SLP Simple Ledger address.Tag your friends so they can get some too. :)@cctip_com airdrop 1 KONRA 200

  • From hawkingvalue:

    @StayDashy I’ve been beta testing various forms of crypto the past week to expand my knowledge (Dash, Nano, Stellar, Bitcoin Cash). The Dash app by a mile has the most advanced user interface and the functionality is impressive). A true currency of the future.

  • From trevorforrest:

    Someone asked me to share the crypto assets I typically invest in or pay attn to, here goes:
    Bitcoin, Ethereum, Cardano, Stellar, Ripple, Polkadot, Aave, Chainlink, MATIC.
    For curiosity/entertainment I watch Bitcoin Cash, Ethereum Classic, Monero, Litecoin, Dogecoin, Dash & Zcash