Bitcoin (BTC) Price Near $31,349.63; Pin Bar Pattern Appearing on Chart, in a Downtrend Over Past 90 Days, 2 Day Down Streak Broken

The Hourly View for BTC

Last Updated July 15, 2021, 18:16 GMT

Currently, Bitcoin’s price is up $81.51 (0.26%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Bitcoin has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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

The choppiness in the recent daily price action of Bitcoin continues; to start today, it came in at a price of 32820.5 US dollars, up 0.25% ($83.03) since the previous day. The price move occurred on stronger volume; specifically, yesterday’s volume was up 5.47% from the day prior, and up 17.42% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 4th since the previous day in terms of percentage price change. The daily price chart of Bitcoin below illustrates.


Bitcoin Technical Analysis

Notably, the current price of Bitcoin is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Bitcoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 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 woonomic:

    Bitcoin is digital gold?Gold FAILED.The Gold Standard failed. Gold’s failure lead to fiat.Why? It was centralised. When governments ran out of gold, money decoupled from gold and we got fiat.Bitcoin is decentralised gold, it removes gold’s failures.

  • From PrestonPysh:

    @jokoono To put this on the record. We hire artists to do sketches – I don’t even know if they are bitcoiner. My team is having this fixed. Unlike you, I didn’t see this when my team published it. They are fixing it. Our show is a Bitcoin only show. Bitcoin cash is obviously a scam.

  • From CryptoTony__:

    Took a loss today on #Bitcoin .. Reasons I am not hurt by this :- We can’t always be right ✅
    – Laddered down after the impulse to minimise loss ✅
    – Had a plan and took it ✅
    – Remained patient last night for the drop ✅I will never hide from a loss as we all make them ❤️

As for a news story related to Bitcoin getting some buzz:

NYDIG expands its play to bridge bitcoin and banking

One of NYDIG’s recently announced partnerships was with Q2, “a leading provider of digital transformation solutions for banking and lending,” according to an NYDIG release….Sells noted that Alkami is currently the fourth largest digital banking provider in the U.S. The third recent deal was with Fiserv, a provider of payments solutions.