The Hourly View for BCH

Last Updated December 17, 2020, 02:048 GMT

At the moment, BCH’s price is down $0.01 (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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 an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Cash Daily Price Recap

Bitcoin Cash closed the day prior up 8.27% ($23.89); this denotes the 5th straight day an upward move has occurred. As for how volume fared, yesterday’s volume was up 41.98% from the previous day (Tuesday), and up 155.86% from Wednesday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin Cash ranked 6th since the day prior in terms of percentage price change. The daily price chart of Bitcoin Cash below illustrates.

Bitcoin Cash Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 and 30 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Bitcoin Cash’s price has gone up 6 them.

Overheard on Twitter

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

• From DavidShares:
  

  #Bitcoin is trending on Twitter. For all the noobs that may see it, Bitcoin just reached $20K. A milestone for all of us. But did you know that Bitcoin is not the only crypto, and has already been surpassed in technology by other cryptos like Ethereum and Bitcoin Cash?

• From sugarliveme:
  

  Pornhub is leveraging the payment processor Probiller and the service supports bitcoin (BTC), bitcoin cash (BCH), dash (DASH), ethereum (ETH), ethereum classic (ETC), litecoin (LTC), monero (XMR), nem (XEM), tether (USDT), tron (TRX), verge (XVG), waves (WAVES), and zcash (ZEC)

• From BitcoinCashCom2:
  

  @00jarch @rogerkver @APompliano You also have to pay that $5 even if you send $2 or $10, which means the transaction fee is 250% or 50% of the amount you are sending. That is stupid as hell and only for retards.Bitcoin Cash does not have this problem. I just bought coffee today with my Bitcoin Cash.

The post Bitcoin Cash (BCH) Closes Prior Hour Down 0%; Price Base in Formation Over Past 14 and 30 Days, Heads Up For the 5th Straight Day appeared first on CFDTrading.