The Hourly View for BTC
Last Updated February 18, 2021, 00:016 GMT
At the time of this writing, Bitcoin’s price is up $266.03 (0.51%) 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. 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
The choppiness in the recent daily price action of Bitcoin continues; to start today, it came in at a price of 49184.63 US dollars, up 2.6% ($1248.12) since yesterday. The price move occurred on volume that was up 29.37% from the day prior, but down 29.78% from the same day the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Let’s take a look at the daily price chart of Bitcoin.
Bitcoin Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Bitcoin’s price has gone up 8 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin:
- From real_vijay:
@stoolpresidente A lot of people are bagging on you, Dave, but it sounds like you genuinely don’t understand why #Bitcoin is valuable. I’m happy to spend an hour helping you understand why it is (it’s a hard topic).That hour you spent with the Winklevii was a huge waste of your time.
- From BCBacker:
I was recording a video two days ago issuing the statement that we are now “playing with fire” in regards to Bitcoin. Obviously, with power loss, it never made it to my channel.IMO, it still is playing with fire. A ~50% correction is looming now that we have approached $52,000.
- From TheBlueMatt:
I first learned about bitcoin ten years and a week ago, and started contributing in March. So much has been accomplished in ten years, and some of what was discussed back then is being built out todayBitcoin isn’t a race, but it’s great to see so many developers building on top
As for a news story related to Bitcoin getting some buzz:
The price of Bitcoin keeps climbing higher, but one key support level must hold for the rally to continue….The chart above shows this continuation is seen as BTC rallied toward the next point of interest….As long as that sustains support, Bitcoin’s price can continue running towards$54,000 to $55,500.