Bitcoin (BTC) Closes Prior Hour Down -0.47%; in an Uptrend Over Past 14 Days

The Hourly View for BTC

Last Updated February 12, 2021, 23:16 GMT

At the time of this writing, Bitcoin’s price is down $-225.93 (-0.47%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Bitcoin has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend 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 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 entered today at $48006.18, up 7.03% ($3151.23) from the previous day. As for how volume fared, yesterday’s volume was up 1.52% from the previous day (Wednesday), and up 22.06% from Thursday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 4th since the previous day in terms of percentage price change. Below is a daily price chart of Bitcoin.

BTC

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 10 them.

Overheard on Twitter

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

  • From theRealKiyosaki:

    Why silver. Love Elon investing billion in Bitcoin. Silver next. Silver still 50% below all time high. Green New Deal to increase demand. Apple, Tesla & Big pharma need more silver. Why Reddit Raiders failed on silver? GameStop fake asset. Silver real asset. Real FOMO coming

  • From jakepaul:

    When I was 16 I invested my entire first Vine brand deal into #Bitcoin when it was worth $100After 8 years of holdingIt’s now worth $46,000#Doge is Bitcoin’s younger brother… they have the same potential… it’s still early..

  • From Melt_Dem:

    bitcoin is not digital gold.it’s so much bigger than that.please let’s stop anchoring bitcoin to gold. the market cap of bitcoin will far exceed that of gold, because one is a shiny rock that sits in a vault and the other is magical internet money.

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

XRP jumps 15%, while bitcoin and ether trade near record highs as Tesla, BNY Mellon and Mastercard warm to cryptocurrencies | Currency News | Financial and Business News | Markets Insider

The announcement sent bitcoin soaring to a record high of above $48,000….Mastercard announced it will allow merchants to accept select cryptocurrencies on its network starting later this year.