Bitcoin (BTC) Closes Prior Hour Up 0.21%; in a Downtrend Over Past 90 Days, 2 Day Down Streak Broken

The Hourly View for BTC

Last Updated July 19, 2021, 02:016 GMT

At the moment, Bitcoin’s price is up $66.41 (0.21%) from the hour prior. This is the 2nd straight hour Bitcoin has seen its price head up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them with price now being above them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Daily Price Recap

31546.64 (USD) was the opening price of the day for Bitcoin, resulting in the previous day being one in which price moved up 0.46% ($144.88) from the previous day. As for how volume fared, yesterday’s volume was up 8.43% from the previous day (Saturday), and up 35.19% from Sunday of 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. The daily price chart of Bitcoin below illustrates.

BTC

Bitcoin Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Bitcoin’s price has gone down 8 of the previous 14 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 ProTheDoge:

    Crypto proves time and again that it rewards those with patience. If you literally bought Bitcoin, Ethereum or Dogecoin any year before 2021 and held on you would be up right now. How many people bought in 2020 & sold in 2020 and didn’t see any major gains? Few understand this 🤷🏼‍♂️

  • From JeffBooth:

    We live in a time of great paradox. Where every person votes with their wallet to get more for less -which technology allows (deflation) but at the same time believe that an overall system must be based on getting less for more (inflation)IMO – #Bitcoin solves the paradox.

  • From CryptoMichNL:

    #Bitcoin at $30,000-36,000 is still a great area of interest if you want to start investing in #Bitcoin.Majority is waiting at $20,000 or even closing their bags at -50% since ATH, hoping that they’ll be able to buy lower.

For a longer news piece related to BTC that’s been generating discussion, check out:

Jackson, Tennessee Mayor Praises Bitcoin’s Benefits Against Inflation, Aims to Create a BTC Hub – Bitcoin News

Jackson, Tennessee’s mayor is also a bitcoin fan and Scott Conger is the third member of his family to be Jackson’s mayor….“Our blockchain task force is looking into how the city of Jackson TN can accept property tax payments in bitcoin and allow our employees to DCA in bitcoin,” Conger tweeted on Thursday….What do you think about the mayor of Jackson, Tennessee promoting bitcoin for his city?