Bitcoin Cash (BCH) Price Near $659.20; in a Downtrend Over Past 30 Days, Price Base in Formation Over Past 14 Days, Heads Down For the 2nd Day In A Row

The Hourly View for BCH

Last Updated June 6, 2021, 02:047 GMT

At the time of this writing, BCH’s price is down $-0.23 (-0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 Daily Price Recap

Bitcoin Cash is down 3.3% ($22.13) since yesterday, marking the 2nd day in a row a decline has happened. This move happened on lower volume, as yesterday’s volume was down 22.51% from the day before — and down 51.32% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 4th since yesterday in terms of percentage price change. Below is a daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Bitcoin Cash’s price has gone down 6 of the previous 10 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin Cash for the past day were:

  • From KalebPrime:

    Oh yeah, between this 12 hour bullshit I found a bakery that accepts Bitcoin Cash as payment.Completely unrelated to that disaster, just something I found rather peculiar. Crypto bread lol

  • From Jack_Russell_UK:

    @the_bible_club @GarrityBrendan @ManBytesCamera @3rdpowerHODL @DocumentingBTC @elonmusk 1. You can freely transact. If a node censors, you route round him.2. Im not sure what part of this is too difficult to understand, but if everyone used bitcoin cash, you’d realise how foolish you sound.No chain can remain decentralised and have the world using layer 1

  • From DavidShares:

    @DeItaone If they actually want rapid results, they’ll accept Bitcoin Cash #BCH and not BTC which is slow and unreliable!

In terms of news links for Bitcoin Cash here’s one to try:

Localbitcoins Adds Bitcoin Cash and Other Cryptocurrencies as Payment Methods – Bitcoin News

Sergio Goschenko
Localbitcoins, one of the biggest P2P exchanges in the world, has added Bitcoin Cash and other cryptocurrencies as payment methods to acquire Bitcoin on its platform….Localbitcoins, one of the biggest P2P cryptocurrency exchanges in the world, is now allowing its users to purchase Bitcoin with other cryptos, in a departure from its earlier Bitcoin-only approach.