Bitcoin Cash volume analysis (BCH) and market trends
Cryptoms have recently experienced considerable volatility, while prices are wild in response to market feeling and economic reports. One of the key indicators that can provide valuable information about the strength and direction of cryptographic markets is negotiation volume.
In this article, we will analyze the volume of Bitcoin Cash (BCH) trading (BCH) and explore market trends to obtain a deeper understanding of the current crystal state.
What is the negotiation volume?
The negotiation volume is applied to the number of currencies or tokens negotiated in the stock exchange for a certain period of time. It is an important metric to evaluate the feeling of the market, since the high negotiation volumes can indicate a strong demand for a particular property, while the low volume can indicate a bad demand.
Bitcoin cash analysis (BCH) of negotiation volume
BCH has recently experienced considerable price fluctuations, with its highest $ 640,000 and the current price was around $ 300,000. If you want to better understand the trends and the feeling of the market around BCH, let’s see the negotiation volume for this cryptocurrency.
According to Coinmarketcap data, the current negotiation volume for BCH is approximately $ 120 million per day. This represents a significant decrease compared to the highest historical number in February 2018, when the daily negotiation volume reached approximately $ 10 billion.
Trends in the market
In recent weeks, BCH has been fashionable, with a significant decrease of approximately 30% since mid -June. The current price movement suggests that investors are increasingly cautious about the perspectives of cryptocurrencies for long -term growth.
To better understand the trend in the market and feeling around BCH, let’s examine some key indicators:
* Relative force (RSI): RSI 35 of 14 days suggests that the price has recently been divided below its 21 -day sliding average, indicating a possible decrease.
* Bollinger bands: Bollinger’s current update is 2.5 standard deviations above the average of 20, which suggests significant prices and volatility.
* Sliding diameters: Sliding diameters of 50 periods and 100 periods are below the sliding diameter of 200 periods, indicating a decrease.
Conclusion
Bitcoin’s cash volume (BCH) is currently around $ 120 million per day, which suggests a strong market demand. However, recent price movements suggest that investors are increasingly dealing with cryptocurrency perspectives for long -term growth.
For an additional analysis of the trends and feelings of the market around BCH, it would be beneficial to incorporate other indicators such as RSI, Bollinger bands and sliding diameters to the technical analysis framework.
Recommendations
According to our analysis of the volume of Bitcoin Cash (BCH) and market trends, the following recommendations can be issued:
* Purchase signal: If the price breaks above the sliding diameter of 50 periods, this may indicate a potential purchase signal.
* Sale signal:
If the price is broken below the sliding diameter of 100, this can indicate a potential sales signal.
* Average dollars costs: Investors can benefit from the average cost of dollars when buying BCH at current prices and having a longer period to use any future price.
By incorporating volume trade data into technical analysis analysis and market trends analysis, investors can make more informed decisions about their investments in cryptocurrencies.