Bitcoin (BTC) Price Near $32,325.73; in a Downtrend Over Past 90 Days, Breaks Below 20 Day Average

The Hourly View for BTC

Last Updated July 14, 2021, 01:016 GMT

At the time of this writing, Bitcoin’s price is down $-103.06 (-0.32%) from the hour prior. The hourly chart shows that Bitcoin has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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

The back and forth price flow continues for Bitcoin, which started today off at 33088.51 US dollars, down 3.39% ($1160.79) from yesterday. The price move occurred on volume that was up 94.87% from the day prior, but down 3.11% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 4th for the day in terms of price change relative to yesterday. The daily price chart of Bitcoin below illustrates.

BTC

Bitcoin Technical Analysis

First things first: Bitcoin crossed below its 20 day moving average yesterday. 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 14 days Bitcoin’s price has gone up 7 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin:

  • From TraderKoz:

    For all the hate Michael Saylor gets, it’d be pretty funny if he ends up being right about #Bitcoin and is one of the richest people in the world. Props for the dude for putting his money where his mouth is and betting on what he believes in.

  • From SalsaTekila:

    Ok, can we bounce? I need bitcoin to bounce. Preferably from now to extremely soon. Isn’t this asset capped to 21 million of them. Scarcity means number up as inflation talks go on? I really need it to go up, like NOW… Can I borrow 50 coins to post a little bit of margin please

  • From sthenc:

    turn off tv, read books, lift weights, buy bitcoin, meditate, eat steak, get sunlight, ditch sunscreen, avoid sugar, learn to fight, own a gun, encrypt communications, speak truth to power, encourage friends, build a family

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

Bitcoin: Lightning Will Change How You Think About BTC – CoinDesk

Strike, in turn, is powered by the Lightning Network, which crypto-geeks know as the “layer 2” protocol that basically settles transactions “off-chain,” through a growing network of user-hosted channels and nodes, that exponentially cuts down the time and fees to send bitcoin.  Mallers always knew he’d use Lightning to fuel Strike….Lightning is here….“And the easiest way to earn bitcoin is through the Lightning wallet,” Gentry says.  Take gamers….While Stark is not the first to make that analogy, she’s been remarkably consistent, tweeting way back in 2014, a full two years before launching Lightning: “#Bitcoin as protocol has huge potential: it’s like the TCP layer, but no one has built the HTTP layer yet.” Lightning’s role is to breathe life into that user-friendly HTTP layer, making it so that sending bitcoin just works….“Lightning is a network for transferring bitcoin….This is possible with Lightning.