Bitcoin Cash (BCH) Closes Last Hour Down $-2.00; Pin Bar Pattern Appearing on Chart, Moves Down For the 2nd Consecutive Day

The Hourly View for BCH

Last Updated June 9, 2021, 02:047 GMT

At the time of this writing, BCH’s price is down $-2 (-0.35%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as BCH has now gone down 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 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

Bitcoin Cash came into today down 0.05% ($0.32) from the open of the previous day, marking the 2nd consecutive day a decrease has occurred. As for how volume fared, yesterday’s volume was up 53.56% from the previous day (Monday), and up 18.43% from Tuesday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 3rd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 200 day moving averages, which may act as price barrier for the asset. Volatility for Bitcoin Cash has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Bitcoin Cash’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

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

  • From thecryptokidd:

    Bitcoin isn’t what you’re being sold.Cryptocurrency is an opportunity to bring greater freedoms that may enhance your own life, and the lives of others.You can buy into a sales pitch, or you can start regaining your freedom. Use Bitcoin as cash. Use Bitcoin Cash. #BCH

  • From SallyMayweather:

    Central banks offer only one product, exchange media; & the most efficient medium of exchange ever devised is Bitcoin Cash.The Fed is like Blockbuster in a Netflix world.

  • From MattStirner:

    Simple question for all Bitcoin maxis, what would you do if there was no such thing as Bitcoin but only Bitcoin Cash existed and then a few years later someone created Bitcoin? Would you switch to Bitcoin? Why? Clearly you wouldn’t. This is proof the whole thing is religion.