Bitcoin (BTC) Closes Last Hour Up $3.16; 2 Day Up Streak Ended, Price Base in Formation Over Past 90 Days, in an Uptrend Over Past 14 Days

The Hourly View for BTC

Last Updated October 17, 2020, 07:015 GMT

Currently, BTC’s price is up $3.16 (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 0 Of note is that the 20 hour changed directions on BTC; it is now pointing down. 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 entered today at $11326.25, down 1.58% ($182.06) from the day prior. This move happened on lower volume, as yesterday’s volume was down 12.04% from the day before — and down 7.64% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the day in terms of price change relative to the day prior. Below is a daily price chart of Bitcoin.


Bitcoin Technical Analysis

Coming into today Bitcoin is now close to its 20, 50 and 100 day averages, located at 10974.8, 10844.3 and 10808.21 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 16 out of the past 30 days.