Bitcoin Cash creates a compelling bear opportunity as the price declined by 0.05% in an hour as we can see from the charts in our bitcoin cash news update.
BCH saw a price decline over the past day and now bitcoin cash creates a compelling bear opportunity with the most noteworthy one being the moving average on the hourly chart with the 20-hour moving average which was crossed with the price now being below it. The moving average on the hourly timeframe suggested a choppiness in the price as the 20,50, 100, and the 200 were all mixed which means that the trend across timeframes is inconsistent and shows a potential chance for rangebound traders.
Bitcoin Cash entered today at a price of $219 marking a fall of 3.64% as the price move occurred on a stronger volume. Yesterday’s volume was set at 24% higher from the day before and up by 11% from the same day a week ago. On a relative basis, Bitcoin Cash was the worst performer out of all 7 assets in the top cryptos asset during the day before. Moving average crossovers are interesting as BCH crossed below the 20 days moving average while the price went up by 16 out of the past 30 days.
If the price fails to stay above the $230 support, it could revisit the $220 level so further losses could lead the price towards the $200 handle in the near term. The technical indicators such as the MACD for the BCH/USD pair is gaining pace in the bullish zone.
In the recent Bitcoin cash news update, we reported of a mysterious man started giving away Bitcoin Cash in Bakersfield, California. Bakersfield residents started getting serious of stickers across the city which can be seen on posts, poles, sidewalks, and subways. The stickers have a QR code which if you scan It, you will get a sum of Bitcoin Cash. The mysterious man who is the self-proclaimed Bitcoin man operates via a public Instagram account where the claims to be giving away $1000 in Bitcoin cash in a hidden QR code in plain sight.
The stunt seems to be a promotion by bitcoin.com in order to try and raise the interest around its wallet services and BCHThe supports of BCH believe this to be the superior version of the biggest cryptocurrency so the person behind this scavenger hunt calls himself the Bitcoin man and not the BTC Cash man.
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