Bitcoin (BTC) Closes Prior Hour Down -0.59%; in a Downtrend Over Past 14 Days, 3 Day Up Streak Broken

The Hourly View for BTC

Last Updated June 26, 2021, 02:046 GMT

At the time of this writing, BTC’s price is down $-187.06 (-0.59%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as BTC has now gone down 24 of the past 30 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin Daily Price Recap

Bitcoin’s 3 day positive streak has officially concluded, as the candle from the previous day closed down 8.82% ($3055.98). The price move occurred on stronger volume; specifically, yesterday’s volume was up 130.9% from the day prior, and up 37.13% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone down 17 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin for the past day were:

  • From Trader_XO:

    Do I believe #bitcoin will eventually tag $100k? YesDo I want to see btc get absolutely smashed lower down? Yes Why? The 200 weekly MA is the one level where I go in deep. If it comes to fruition – I’m loading up & logging off. That’s the ultimate buying level imo.

  • From michael_saylor:

    @NorthmanTrader I am not a trader, so I will defer to your judgement on those matters. My conviction is based on the belief that #Bitcoin is a better system for monetizing property than gold, art, land, homes, buildings, & equity and over the long term the marketplace will recognize this.

  • From udiWertheimer:

    #bitcoin is the best form of money known to man. PERIODbut USD is such a bad long-term holding, that many other forms of digital assets are preferableeven coins with a dog on themanyone who makes this first step towards opting-out is my fren

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

Tesla & SpaceX CEO Elon Musk to Take Part in Bitcoin Conference Hosted

Your Cart is Empty   by Eva Fox June 25, 2021 Photo: Reuters/Danny Moloshok; AP Images; Business Insider Tesla and SpaceX CEO Elon Musk has agreed to take part in The ₿ Word, an online conference about Bitcoin hosted by Twitter creator Jack Dorsey….After Dorsey shared information about the event on Twitter, Elon Musk expressed interest in it.In his own fashion, Musk reacted with a joke and wrote that The “₿” Word probably means Bicurious.