Bitcoin Cash (BCH) Price Near $262.62; Heads Down For the 2nd Consecutive Day, in an

The Hourly View for BCH

Last Updated October 31, 2020, 01:037 GMT

At the time of this writing, BCH’s price is up $0.49 (0.19%) from the hour prior. BCH has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 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 10 and 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on BCH; it is now pointing up. 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 2% ($5.36) from the open of the previous day, marking the 2nd consecutive day a decline has happened. As for how volume fared, yesterday’s volume was up 40.13% from the previous day (Thursday), and up 43.88% from Friday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin Cash ended up ranking 6th for the day in terms of price change relative to the previous day. Below is a daily price chart of Bitcoin Cash.

Bitcoin Cash Technical Analysis

Coming into today Bitcoin Cash is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 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 JacobCanfield:
  

  I don’t think people are prepared for the ‘delayed’ PayPal effect. The announcement was one thing, but wait until they go into marketing mode on their new offering. #Bitcoin, #Ethereum, #Litecoin and Bitcoin Cash will most likely vastly out perform the rest of the market.

• From bchnotes:
  

  Bitcoin Cash historically has done a great job of alienating very important people such as Jack Dorsey – We sincerely hope the culture going forward will be more welcoming for people who can potentially have a material impact on our success.

• From BitcoinOutLoud:
  

  @bitcoincashorg @bchgang This does nothing to cut through the network upgrade noise. All it does is frame Bitcoin ABC’s position as positive.
  Diverting 8% of the Bitcoin Cash block reward to a centralized entity is still a terrible idea.

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

Bitcoin Cash / Block / 659163 — Blockchair

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