We present an experimental scheme of a cold atom space clock with a movable cavity. By using a single microwave cavity, we find that the clock has a significant advantage, i.e. the longitudinal cavity phase shift is eliminated. A theoretical analysis has been carried out in terms of the relation between the atomic transition probability and the velocity of the moving cavity by taking into account the velocity distribution of cold atoms. The requirements for the microwave power and its stability for atomic πr /2 excitation at different moving velocities of the cavity lead to the determination of the proper working parameters of the rubidium clock in frequency accuracy 10-17. Finally,the mechanical stability for the scheme is analysed and the ways of solving the possible mechanical instability of the device are proposed.