Bitcoin (BTC) Price Near $11,462.21; Moves Up For the 6th Consecutive Day, in an Uptrend Over Past 14 Days

The Hourly View for BTC

Last Updated October 13, 2020, 03:015 GMT

Currently, BTC’s price is down $-29.74 (-0.26%) from the hour prior. BTC has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 3 Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. 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 1.44% ($164.25) from the open of the previous day, marking the 6th consecutive day it has gone up. As for how volume fared, yesterday’s volume was up 136.76% from the previous day (Sunday), and up 86.97% from Monday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Bitcoin below illustrates.

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. Or to view things another way, note that out of the past 14 days Bitcoin’s price has gone up 9 them.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From APompliano:

    Young people understand the future:- Automation
    – Robotics
    – Electric vehicles
    – Clean energy
    – Space exploration
    – Machine learning
    – Artificial intelligence
    – BitcoinOne of the best investing strategies is to simply follow where young people are spending their time.

  • From danheld:

    Hard not to be bullish about Bitcoin right now:- ATH number of addresses with any balance
    – ATH number of daily active addresses
    – $10k feels like a floor
    – Shook off very negative news
    – Corporate treasuries buying
    – Large macro traders embracing it as Gold 2.0

  • From funshographix:

    #SARSMUSTEND Struggle isn’t for Yahoo guys. EFCC is there for those ones. The fight is for those SARS harassing, killing & exploiting the youths with locs, youths with tattoos, youths doing bitcoin, youths using cars. Just becauae Nigeria is hard doesn’t mean we shouldn’t be rich

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

Ripple Executive Says SEC Gave Bitcoin and Ethereum a Pass, but Other Crypto Assets Unwelcome in the US | The Daily Hodl

Speaking at the LA Blockchain Summit, the Ripple co-founder worries that the US is in danger of losing its position at the helm of the global financial system….“Unfortunately, I just think the US is woefully behind in kind of stepping up to what is going to be the next generation of the global financial system.