Bitcoin (BTC) Closes Prior Hour Up 0.15%; in a Downtrend Over Past 90 Days

The Hourly View for BTC

Last Updated July 16, 2021, 04:020 GMT

At the time of this writing, BTC’s price is up $47.49 (0.15%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as BTC has now gone up 8 of the past 10 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Daily Price Recap

31867.46 (USD) was the opening price of the day for Bitcoin, resulting in the previous day being one in which price moved down 2.9% ($953.04) from the previous day. The change in price came along side change in volume that was up 21.61% from previous day, but down 31.77% from the Thursday of last week. 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 the previous day. 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. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin:

  • From woonomic:

    Bitcoin is digital gold?Gold FAILED.The Gold Standard failed. Gold’s failure lead to fiat.Why? It was centralised. When governments ran out of gold, money decoupled from gold and we got fiat.Bitcoin is decentralised gold, it removes gold’s failures.

  • From PrestonPysh:

    @jokoono To put this on the record. We hire artists to do sketches – I don’t even know if they are bitcoiner. My team is having this fixed. Unlike you, I didn’t see this when my team published it. They are fixing it. Our show is a Bitcoin only show. Bitcoin cash is obviously a scam.

  • From CryptoTony__:

    Took a loss today on #Bitcoin .. Reasons I am not hurt by this :- We can’t always be right ✅
    – Laddered down after the impulse to minimise loss ✅
    – Had a plan and took it ✅
    – Remained patient last night for the drop ✅I will never hide from a loss as we all make them ❤️