The Hourly View for BTC
Last Updated November 17, 2020, 03:016 GMT
Currently, BTC’s price is up $7.25 (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on BTC. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 back and forth price flow continues for Bitcoin, which started today off at 16721.46 US dollars, up 4.74% ($756.76) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 138.96% from the day prior, and up 39.19% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 3rd for the day in terms of price change relative to yesterday. The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone up 19 them.