Bitcoin (BTC) Down 3.14%, Crosses 20 Day Moving Average; in an Uptrend Over Past 90 Days

Bitcoin Price Recap

The back and forth price flow continues for Bitcoin, which starts today off at 9664.21 US dollars, down 3.14% from the previous day. The price move occurred on volume that was up 45.16% from the day prior, but down 7.95% from the same day the week before. On a relative basis, yesterday was pretty good: Bitcoin bested all 5 of the assets in the Top Cryptos class 🙂 Let’s take a look at price chart of Bitcoin.

Bitcoin Technical Analysis

Notably, Bitcoin crossed below its 20 day moving average yesterday. Volatility for Bitcoin has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone up 8 out of the past 14 days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90, 14 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

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 APompliano:

    I’ll be on CNN tomorrow morning with @jchatterleyCNN during the 9am EST show.WHAT SHOULD WE TELL THE WORLD ABOUT BITCOIN?!

  • From Josh_Rager:

    Dear Bitcoin Whales,We have all canceled our shorts and are ready for you to take us to $12kYours Truly,
    Everyone who owns Bitcoin

  • From CryptoBull:

    “Bitcoin can’t mail you a check” -Warren Buffet, 2020

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

Tron CEO Justin Sun Says He Holds Large Stacks of Ethereum and XRP, Reveals Bullish Bitcoin Price Prediction | The Daily Hodl

That’s why I own lots of the other different cryptos as well.” Sun is also offering his views on the price of BTC in the long run….At the same I time, I believe lots of the other cryptocurrency projects, like Tron, like Ethereum, like XRP – I believe all [these] projects will also get into a bull market as well.”  Sun says the Tron blockchain is an alternative to iOS and Android operating systems and offers users privacy advantages.