In this Bitcoin Cash technical analysis, we will examine the current price action, trading volume, key levels and indicators for BCH-BTC. Bitcoin Cash is a hard fork of the Bitcoin blockchain that was created in August 2017. It increases the block size limit to 8 MB, allowing for faster transactions and lower fees. With its focus on scalability and usability, Bitcoin Cash aims to provide a more accessible and user-friendly version of cryptocurrency for the masses.
Bitcoin Cash Price Overview:
As of June 30, 2024, Bitcoin Cash is trading at approximately 0.00628 BTC. Let’s dive into the detailed price action for BCH-BTC:
| Metric | Value |
|---|---|
| Open (O) | 0.00624 |
| High (H) | 0.00636 |
| Low (L) | 0.00622 |
| Close (C) | 0.00628 |
| Volume (C) | 972.39 |
- Open (O): The opening price for today’s trading session was approximately 0.00624 BTC.
- High (H): Bitcoin Cash reached a daily high of around 0.00636 BTC.
- Low (L): The daily low for BCH-BTC was approximately 0.00622 BTC.
- Close (C): At the time of analysis, Bitcoin Cash is trading near its daily close of 0.00628 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.59% |
| 3D Change (%) | -0.35% |
| 7D Change (%) | 4.23% |
| 30D Change (%) | -6.77% |
| 90D Change (%) | -32.43% |
| YTD Change (%) | 2.35% |
Over the past three days, BCHBTC has decreased by approximately -0.35%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 4.23%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with BCHBTC maintaining a downward trend of approximately -6.77%, despite intermittent fluctuations. Examining the last 90 days, BCHBTC has witnessed substantial fall of approximately -32.43%, reflecting strong long-term confidence. Year-to-date, BCHBTC has steadily appreciated by around 2.35%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Bitcoin Cash Live Chart:
You can access a live price chart for BCH-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.33533.
- Momentum score is -0.07737.
BCH BTC Technical Analysis
Bitcoin Cash Trading Volume:
The trading volume for Bitcoin Cash (BCH) over the past 24 hours has been insignificant, with approximately 972.39 BTC traded against BCH. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): BCH is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Bitcoin Cash is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for BCH-BTC is currently in the low zone, around 44.07471. This suggests that Bitcoin Cash is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Bitcoin Cash (BCH-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Navigate Bitcoin Cash’s (BCHBTC) potential downturns at 6.28e-03 BTC with bearish technical analysis, emphasizing weakened support and cautionary indicators.
Don’t overlook our detailed insights on BCH USDT Bitcoin Cash Technical Analysis if you found this post captivating; it’s a must-read for further exploration.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.