Bitcoin (BTC) Closes Prior Hour Down -0.05%; in an Uptrend Over Past 14 Days, 6 Day Up Streak Broken

The Hourly View for BTC

Last Updated November 23, 2020, 19:16 GMT

At the moment, BTC’s price is down $-9.12 (-0.05%) from the hour prior. BTC has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up 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 is down 1.46% ($273.47) since the previous day, marking a reversal from the day prior — and the end of a 6 day positive run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 13.01% from the day prior, and up 177.7% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. Below 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 another vantage point, consider that Bitcoin’s price has gone up 19 of the previous 30 trading days.

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 Travis_Kling:

    Imagine the mindset of seeing #Bitcoin’s insane run in 17 & not buyingThen the vindication of the collapse in 18 & not buying <$4kThen the run in 19Then the collapse of Black Thurs & again not buying <$4kNow you’re staring at this thing back at ATH & you own none. Brutal.

  • From Crypto_Bitlord:

    Important message as we enter the next #Bitcoin bull market:- BTC only goes up
    – Market buy instead of limit orders
    – If you hold, you won’t lose any of your money
    – Invest everything you have
    – Twitter is investment advice
    – Max your credit cards
    – Never sellTell a friend 🚀

  • From Breedlove22:

    @MikhailaAleksis Hi @MikhailaAleksis:- I am a lion-diet carnivore
    – I believe central banking is the tyranny of our times
    – I am a student of @jordanbpeterson, and believe #Bitcoin is the philosopher’s stone he wrote about based on his study of Carl JungWe would have a great conversation 🙂

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

Bitcoin, Ethereum, Ripple’s XRP, Litecoin, And Chainlink Could Be Heading Into Their Biggest Week Ever

The bitcoin price has more than doubled this year, helping other major cryptocurrencies ethereum, ……The bitcoin price has added over 150% over the last 12 months with many bitcoin and cryptocurrency …