Bitcoin (BTC) Price Near $32,771.75; Moves Up For the 6th Day In A Row, in an Uptrend Over Past 90 Days

The Hourly View for BTC

Last Updated January 4, 2021, 01:016 GMT

Currently, Bitcoin’s price is down $-99.4 (-0.3%) from the hour prior. Bitcoin has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 9.58% ($2814.7) since the day prior, marking the 6th day in a row an upward move has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 152.16% from the day prior, and up 132.72% from the same day the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since the day prior. Here is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From CryptoCobain:

    @jiucrypto Macro moves are still important. Bitcoin went from 1k to 20k to 3k to 14k to 4k to 35k in the last four years. You don’t need to sell the top and buy the bottom to generally be on the right side of that. There was a 4x in 2019 that no one really cared about.

  • From rektcapital:

    After a successful trade, dopamine is released in the brain, leading to the desire to repeat this experienceYou must go against this urge, let the euphoria of the win die down, and allow enough time for your neurological chemistry to return to baseline#BTC #Crypto #Bitcoin

  • From MartiniGuyYT:

    $200 #Bitcoin Giveaway!!!!!!CELEBRATING $30,000+ #BTC!!
    2 WINNERS GUARANTEED $100 #BTC EACH!!To enter:
    – Follow @MartiniGuyYT
    – Retweet this tweet
    – Like this tweetWinner announcement Tuesday 3pm GMT THE LAST GIVEAWAY WINNERS ARE NOW 50% IN PROFIT!!Good luck 🤞🚀

For a longer news piece related to BTC that’s been generating discussion, check out:

Ethereum Tops $1000, Outpacing Bitcoin As Crypto ‘Crosses The Chasm’ | ZeroHedge

Source: Bloomberg Ethereum still has over $400 to go to reach its record highs……The main catalysts behind Bitcoin’s rally have been the institutional accumulation of BTC on Coinbase and the short squeeze on Binance Futures….Source: Santiment In the meantime, many traders on Binance Futures were shorting BTC, possibly expecting Bitcoin to top out at around $30,000.