Bitcoin Cash (BCH) Closes Prior Hour Up 0.08%

For BCH, the Hourly View

Last Revised 6 October 2020 01:037 GMT 6 October 2020

At the moment, the price of BCH is up $0.18 from the hour before (0.08 percent). Out of the last 5 hours, BCH has seen its price go up 4, thereby providing some convincing opportunities for bulls. Regarding the trend, note that the 20 hour timeframe is the strongest trend. Price action traders will also want to remember that on BCH we see a trend of pin bar candlesticks. Given that we see an uptrend in the 20 hour candle timeframe, and that reversals are also denoted by such candlestick patterns, this may be worth noting. The moving averages on the hourly timeframe reflect market choppiness, as the 20, 50, 100 and 200 are all in a mixed alignment, suggesting that the pattern is erratic across timeframes, implying a possible opportunity for rangebound traders.

The Daily Market Recap of Bitcoin Cash

Since the day before, marking the 2nd consecutive day a rise has occurred, Bitcoin Cash is up 0.29 percent ($0.64). The price rise came amid volume shifts that were up 28.43 percent from the previous day, but down 60.82 percent from last week's Monday. In terms of percentage price change, Bitcoin Cash ranked 6th as of the day before compared to other instruments in the Top Cryptos asset class. The Bitcoin Cash daily price chart below shows that.

Technical Review of Bitcoin Cash

Bitcoin Cash is now close to its 20-day averages, situated at 223.67 respectively, heading into today, and could therefore be at a crucial juncture in those timeframes. Note that the price has gone up 17 out of the past 30 days for additional background. As for those who trade off candlesticks, we can remember that here we see the pattern of the pin bar emerging.