The Hourly View for BTC
Last Updated January 8, 2021, 03:016 GMT
Currently, Bitcoin’s price is up $680.85 (1.83%) from the hour prior. Bitcoin has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 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 is up 7.14% ($2629.55) since the previous day, marking the 3rd consecutive day it has gone up. As for how volume fared, yesterday’s volume was up 25.47% from the previous day (Wednesday), and up 146.92% from Thursday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone up 23 them.
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin:
- From Razzbowski:
Went to give my 21 month old son his pocket money & he grabbed my hands softly & said “no dad. I’d only waste this on frivolous things like sweets & women. Invest in bitcoin when the bubble bursts. You deserve a good retirement”. Man, I’ve raised an angel 😭
- From kennyflorian:
As a pro #MMA fighter you pay for management, coaches, travel, equipment, nutrition etc. Your body pays a price as well. With US$ being devalued & if I was still fighting, I’d want to get paid in #BITCOIN Invest in it to save your hard earned money or ask @JackMallers for help.
- From real_vijay:
Why was #Bitcoin very temporarily rejected at 40k? Simple: some whale wanted to diversify. This is a GOOD thing. Their supply has now been distributed and the process of monetization has advanced further. This is how everyone eventually gets some BTC.
In terms of news links for Bitcoin here’s one to try:
The cryptocurrency is up more than 60% over the past week, bringing its total market cap to $135 billion….Since many DeFi projects are built on Ethereum, the sub-class has a positive impact on the ETH price.