The Hourly View for BTC
Last Updated June 2, 2021, 04:016 GMT
Currently, Bitcoin’s price is up $58.97 (0.16%) from the hour prior. Bitcoin has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 20 hour changed directions on BTC; it is now pointing up. 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
36683.51 (USD) was the opening price of the day for Bitcoin, resulting in the previous day being one in which price moved down 1.63% ($607.32) from the previous day. This move happened on lower volume, as yesterday’s volume was down 10.73% from the day before — and down 35.71% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. Here is a daily price chart of Bitcoin.
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 down over that time. For additional context, note that price has gone down 8 out of the past 14 days.
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin:
- From BTC_Archive:
Apple Pay is the top mobile payment system in America, with 43.9 million users. If it built a #Bitcoin exchange into Apple Pay, it would instantly become the biggest exchange in America. It could then use its $200B cash balance to launch #BTC backed financial products/loans.
- From DocumentingBTC:
“#Bitcoin is the first example of a new form of life. It lives and breathes on the internet. It lives because it can pay people to keep it alive. It lives because it performs a useful service that people will pay it to perform.” – Ralph Merkle
- From rektcapital:
Though a bearish Death Cross potentially lies ahead for #BTC – so much can still change until thenThat cross doesn’t have to occurOn top of that, most data science models suggest that this current #BTC retrace isn’t the end of the Bull MarketKeep an open mind#Bitcoin
For a longer news piece related to BTC that’s been generating discussion, check out:
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