Bitcoin (BTC) Closes Last Hour Up $147.67; Moves Down For the 2nd Day In A Row, in a Downtrend Over Past 90 Days

The Hourly View for BTC

Last Updated July 15, 2021, 01:016 GMT

At the time of this writing, Bitcoin’s price is up $147.67 (0.45%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on BTC; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Daily Price Recap

Bitcoin is down 1.06% ($351.04) since the previous day, marking the 2nd day in a row a decline has happened. This move happened on lower volume, as yesterday’s volume was down 19.44% from the day before — and down 25.45% from the same day the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The first thing we should note is that Bitcoin is now close to its 20 day averages, located at 33905.9 respectively, and thus may be at a key juncture along those timeframes. 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 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Bitcoin’s price has gone down 8 of the previous 14 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin for the past day were:

  • From PeterSchiff:

    Right now @michael_saylor is live on YouTube on the #MicroStrategy pumping #Bitcoin. Comments and chat have conveniently been disabled so no one can refute his nonsense. Saylor is a glorified digital snake oil salesmen afraid to debate someone who is capable of exposing his lies.

  • From CryptoDonAlt:

    If we’re truly in for hyperinflation, the dollar becoming worthless, or whatever else I see thrown around on herethen I think Bitcoin won’t help any of us.That’s such a doomer mindset you’d be better off spending your money on fenced communities and bunkers than on BTC.

  • From JRNYcrypto:

    I’m so happy to be part of the Crypto space this earlyThere are only 3 companies that have acquired a large amount of #Bitcoin so farEventually all big companies will feel it’s necessary to dollar-cost average some Crypto as a hedge against inflation

For a longer news piece related to BTC that’s been generating discussion, check out:

NYDIG expands its play to bridge bitcoin and banking

One of NYDIG’s recently announced partnerships was with Q2, “a leading provider of digital transformation solutions for banking and lending,” according to an NYDIG release….Sells noted that Alkami is currently the fourth largest digital banking provider in the U.S. The third recent deal was with Fiserv, a provider of payments solutions.