Bitcoin (BTC) Price Near $15,434.29; Heads Down For the 2nd Day In A Row, in an Uptrend Over Past 30 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for BTC

Last Updated November 11, 2020, 02:036 GMT

At the time of this writing, BTC’s price is down $-20.51 (-0.13%) from the hour prior. The hourly chart shows that BTC has seen 2 straight down hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 closed the day prior down 0.14% ($21.3); this denotes the 2nd day in a row it has gone down. The change in price came along side change in volume that was down 28.41% from previous day, but up 17.44% from the Tuesday of last week. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 5th for the day in terms of price change relative to the day prior. 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 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 19 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

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

  • From AntonKreil:

    The price of puppys in Singapore is up over 100% in the last 6 months. Everyone trying to buy dogs and literally no supply & imports. My male dogs jiz is probably worth $300K. 3X breeding sessions X 15 pups @ $20K each. You should have bought a male Chow Chow instead of Bitcoin.

  • From Crypto_Bitlord:

    I had losers tell me not to touch #bitcoin, don’t invest in $ETH presale, stay away from alts, keep your job etcI stopped listening to morons a long time ago. Naysayers, NPCs and clones alikeAll armchair experts for the moment but when it comes down to it, never seen again

  • From scottmelker:

    Billionaire investors are divulging that they own #Bitcoin on a daily basis, while many in the community remain bearish and still believe that price will make new lows.Continue shorting the most bullish asset In existence, anon.The strongest hands on the planet have arrived.