Bitcoin (BTC) Closes Last Hour Down $-54.11; Moves Up For the 2nd Straight Day, in an Uptrend Over Past 14 Days

The Hourly View for BTC

Last Updated November 13, 2020, 02:037 GMT

At the moment, BTC’s price is down $-54.11 (-0.33%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as BTC has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Daily Price Recap

Bitcoin came into today up 3.82% ($599.45) from the open of yesterday, marking the 2nd straight day an upward move has occurred. As for how volume fared, yesterday’s volume was up 49.7% from the previous day (Wednesday), and up 71.88% from Thursday of the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Below is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Bitcoin’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From michael_saylor:

    #Bitcoin is not a currency, nor is it a payment network. It is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple, & secure savings account to billions of people that don’t have the option or desire to run their own hedge fund.

  • From Ledger:

    $200: “It’s too late to buy Bitcoin.”
    $500: “it’s too late to buy Bitcoin.”
    $1000: “It’s too late to buy Bitcoin.”
    $10000 : “It’s too late to buy Bitcoin. ”
    $16000 : “It’s too late to buy Bitcoin.”If you think it’s too late now, what will you think when Bitcoin hits $30k?

  • From tyler:

    HODL be thy name. Thy kingdom come, thy will be done in earth, as it is on the moon!Forgive us our debts, as we forgive our debtorsAnd lead us not into temptation, but deliver us from fiat: For thine is the kingdom, and the power, and the glory of #Bitcoin. Amen.

As for a news story related to Bitcoin getting some buzz:

7 Misconceptions about Bitcoin, and Where to Buy

Bitcoin is the best at what it does….Proponents of Bitcoin Cash wanted to increase the block size, which would allow the network to process more transactions per unit of time….Basically, the dispute between Bitcoin and Bitcoin Cash is whether Bitcoin should be both a settlement layer and a transaction layer (and thus not be perfect at either of those roles), or whether it should maximize itself as a settlement layer, and allow other networks to build on top of it to optimize for transaction speed and throughput….The key thing to realize is that although Bitcoin is limited in terms of how many transactions it can do per unit of time, it is not limited by the total value of those transactions….The question then becomes whether that energy associated with Bitcoin is put to good use….The most frequent question I get about Bitcoin is simply where to buy bitcoins.