Bitcoin (BTC) Closes Prior Hour Down -0.07%; in a Downtrend Over Past 14 Days, Heads Up For the 2nd Straight Day

The Hourly View for BTC

Last Updated April 28, 2021, 03:016 GMT

At the time of this writing, Bitcoin’s price is down $-38.43 (-0.07%) from the hour prior. The hourly chart shows that Bitcoin has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is up 1.87% ($1011.19) since the previous day, marking the 2nd straight day an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 31.78% from the day before — and down 28.18% from the same day the week before. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during the previous day. Here is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The first thing we should note is that Bitcoin is now close to its 20 and 50 day averages, located at 57026.26 and 56987.14 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From FaZeSway:

    quitting fortnite was the best decision i made so far because it allowed me to focus on myself get bitches live life, party 24/7, became a invester in bitcoin so now im a billionaire, i live in a yacht with my 10 girlfriends, and i have my own personal rocket ship to go to mars.

  • From CoinCornerMolly:

    I was invited into a school today to talk to 10/11 year olds about #Bitcoin and ngl I thought it would be challenging (explaining Bitcoin to adults is hard enough!) but they loved it and had so many questions! I’m positive that Bitcoin will be a big part of the next generation 🧡

  • From xunhuas:

    About a minute or two after OP left, Sehun & his friends disappeared too. OP said that Sehun talked about stocks & bitcoin with his friends & he was like “I had to buy that back then~!”. OP also said that the one thing they regret is not asking SH to wish them a Happy B’day. ㅠㅠ

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

Fiat, Fascism and Communism. Bitcoin, Freedom and Sovereignty | by Aleksandar Svetski | Apr, 2021 | Medium

By ripping the control of money from the hands of any organization, State, individual, or institution, we ensure that all are playing the game of life by the same set of rules….By using, supporting and interacting with government issued fiat money, you are directly supporting a system that attempts to artificially manufacture a modern, immobile feudal state that is a blend of fascism, communism, authoritariansim, socialism, colonialism & globalism….All of the above is made possible by Fiat Money….Think about the amount of money (remember money = resources, whether present or future) spent on the following: The top 4 listed above are what it takes to ensure the Fiat monetary system operates….Remember that money measures time, energy and finite natural resources….It’s the same with money, savings and capital.