The Hourly View for BTC
Last Updated February 17, 2021, 00:016 GMT
At the moment, Bitcoin’s price is up $228.77 (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. 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
The choppiness in the recent daily price action of Bitcoin continues; to start today, it came in at a price of 47936.51 US dollars, down 1.47% ($716.36) since yesterday. The price move occurred on volume that was up 35.84% from the day prior, but down 57.91% 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. Let’s take a look at the daily price chart of Bitcoin.
Bitcoin Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin’s price has gone up 16 of the previous 30 trading days.
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 PeterSchiff:
Now that #Bitcoin has hit $50,000 I must admit that a move up to $100,000 can’t be ruled out. However a move down to zero can’t be ruled out either. While a temporary move up to $100K is possible, a permanent move down to zero is inevitable. If you don’t want to gamble buy #gold.
- From jaldps:
@PeterSchiff Now that #gold has hit $1800 I must admit that a move up to $3,600 can’t be ruled out. However a move down to zero can’t be ruled out either. While a temporary move up to $3600 is possible, a permanent move down to zero is inevitable. If you don’t want to gamble buy #Bitcoin .
- From begottensun:
In 2013 I used to help my china with using my StanChart gold card to buy Bitcoin on some exchange. He used to buy it for about $150 per coin at the time and some folks in Zim would buy it for double. Gold Zhet you say… well the same coins are now worth $50000. I am a fool.
For a longer news piece related to BTC that’s been generating discussion, check out:
The so-called cryptocurrency, which was created by an unknown inventor, has risen about 72% this year….People have lost large amounts of money in steep drops in the value of cryptocurrencies and in hacks and scams associated with them….Britain’s financial watchdog, the Financial Conduct Authority (FCA), opened 52 investigations into suspected cryptocurrency frauds in the year to 30 June 2020, according to a Freedom of Information request from law firm RPC.