The Hourly View for BCH

Last Updated May 7, 2021, 06:016 GMT

At the time of this writing, Bitcoin Cash’s price is up $19.37 (1.39%) from the hour prior. This is the 3rd straight hour Bitcoin Cash has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on BCH; it is now pointing down. 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 is up 3.72% ($54.09) since yesterday, marking the 2nd day in a row it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 7.61% from the day prior, and up 768.45% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 3rd for the day in terms of price change relative to yesterday. Below is a daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin Cash’s price has gone up 8 of the previous 14 trading days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

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

• From iohn65934034:
  

  @crypto_birb I’ll tell you a secret. Look into undervalued projects that are yet to hit their previous all time high from 2018. XRP, Bitcoin cash, EOS, Dash, Zcash, Litecoin (just hit – discovery mode now). Now look at how much % they are up by, all of them are outperforming 90-99% of market

• From iohn65934034:
  

  @Sheldon_Sniper Not too late, just wait for a retracement. My bags are EOS, bitcoin cash, dash, Zcash, ETH Classic, Litecoin and neo. There’s many out there but these are the ones I picked out. Literally 95% of all top gainers are projects that hasn’t hit their all time high

• From alexpazzy:
  

  after dogecoin hype dies a lot of ppl are gonna wanna hop on a different hype wave, i’m praying it’s the safe altcoins (bitcoin cash & ethereum classic), and it probably will be cuz you can literally buy them on robinhood. hoping i’m right

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

Bitcoin Cash Slated for May 15- Upgrade to Bring Improvements for Users and Merchants – Technology Bitcoin News

The Bitcoin Cash (BCH) network will experience an upgrade on May 15th that will bring a series of simple, yet interesting changes focused on usability and quality of life improvements instead of hard changes to the consensus algorithm….To solve this particular problem, the node programming community introduced the concept of CHIPs. CHIPs (Cash Improvement Proposals) are standardized proposals that seek to modify or improve certain aspects of the Bitcoin Cash environment….What do you think about the Bitcoin Cash May 15 network upgrade?

The post Bitcoin Cash (BCH) Closes Prior Hour Up 1.39%; Moves Up For the 2nd Day In A Row, in an Uptrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart appeared first on CFDTrading.