Bitcoin (BTC) Closes Last Hour Down $-54.49; Heads Up For the 4th Straight Day, in an Uptrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for BTC

Last Updated November 20, 2020, 23:16 GMT

At the time of this writing, BTC’s price is down $-54.49 (-0.29%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 came into today up 0.22% ($38.37) from the open of yesterday, marking the 4th straight day an upward move has occurred. This move happened on lower volume, as yesterday’s volume was down 40.36% from the day before — and down 20% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 4th since yesterday in terms of percentage price change. The daily price chart of Bitcoin below illustrates.


Bitcoin Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone up 19 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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 CryptoCobain:

    Despite being very rich thanks to Bitcoin, it is the simple things in life that I love the most.The sound of birds that live in my garden. The lemons on my lemon tree ripening. The way that air tastes after the second line of post-coke ketamine on a tuesday morning.

  • From Breedlove22:

    Money is simply a tool for moving value across spacetime.Gold was great for moving value across time, but not space.Fiat currency is great for moving value across space, but not time.#Bitcoin is optimized for moving value across both space and time.H/t: @saifedean

  • From MsHodl:

    The best way to learn about Bitcoin is to use it. Buy some, even a tiny amount ($20?).. put it on a mobile wallet and send it back and forth to some friends (or your mom). It becomes less scary, and it makes you want to learn more. Then you can work towards best practices etc

In terms of news links for Bitcoin here’s one to try:

Bitcoin: All-Time Highs in Sight, This Time Without the Hype

No opinion given in this material constitutes a recommendation by or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person….Although is not specifically prevented from dealing before providing this material, does not seek to take advantage of the material prior to its dissemination….74% of retail investor accounts lose money when trading CFDs with this provider.