Bitcoin (BTC) Closes Last Hour Down $-201.97; in an Uptrend Over Past 90 Days

The Hourly View for BTC

Last Updated February 22, 2021, 23:16 GMT

Currently, Bitcoin’s price is down $-201.97 (-0.37%) from the hour prior. The hourly chart shows that Bitcoin has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Daily Price Recap

57469.95 (USD) was the opening price of the day for Bitcoin, resulting in the previous day being one in which price moved up 2.81% ($1569.11) from the previous day. The change in price came along side change in volume that was down 34.68% from previous day, but up 2.71% from the Sunday of last week. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 4th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Volatility for Bitcoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone up 18 them.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From AMERICANHODL3:

    I once was the best man at a weddingThe wedding cost $50,000 My gift to the bride and groom was a full #bitcoin Value at the time $245 Today my gift costs more than the whole wedding. Except the groom sold it for $350“Nobody ever went broke taking profits”#rekt

  • From lopp:

    Go ahead, leave your bitcoin on the exchange.One day you’ll wake up and realize much of your net worth is unsecured credit (IOUs) to some company.You’ll try to withdraw, only to be blocked by limits.Then you’ll request they be raised and wait months for it to be processed.

  • From PeterSchiff:

    Bitcoin pumpers assured investors that Bitcoin’s volatility went down as its price went up. But from yesterday afternoon’s high to this morning’s low the price of #Bitcoin plunged by 18.5%. Reduced volatility at higher prices is yet another promise Bitcoin has failed to fulfill.

In terms of news links for Bitcoin here’s one to try:

Yellen sounds warning about ‘extremely inefficient’ bitcoin

Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public….Global Business and Financial News, Stock Quotes, and Market Data and Analysis.