Bitcoin (BTC) Price Near $37,524.54; 2 Day Up Streak Broken, Crosses 20 Day Moving Average, in a Downtrend Over Past 30 Days

The Hourly View for BTC

Last Updated June 5, 2021, 02:045 GMT

Currently, BTC’s price is down $-188.41 (-0.5%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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

The back and forth price flow continues for Bitcoin, which started today off at 36861.5 US dollars, down 6.04% ($2368.16) from the day prior. The change in price came along side change in volume that was up 15.84% from previous day, but down 40.79% from the Friday of last week. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd 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

Notably, Bitcoin crossed below its 20 day moving average yesterday. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From firstladyship:

    Youth unemployment is at staggering 53%. There are youths who depend on Twitter for their legitimate businesses. But they banned Twitter, bitcoin & crypto, & killed some of us at Lekki TollgateThey hate us for being the Soro Soke Generation (for refusing to be like our parents)

  • From DrOlufunmilayo:

    List of Top 5 VPNs to download:
    1. NordVPN
    2. TunnelBear
    3. HideMyAss
    4. Hotspot Shield
    5. ExpressVPNWhile you can use TunnelBear & Hotspot Shield in free mode, you need a subscription for the rest. Good thing is, you can pay with Bitcoin/Perfect Money.(Forwarded as received)

  • From DocumentingBTC:

    Senator Cynthia Lummis, “It’s important to have #bitcoin underpinning the US dollar, as a store of value, the way gold used to be.”A sitting member of the United States Congress just called for a #Bitcoin Standard.

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

Max Keiser: Buy Bitcoin to Help Your Family When the Global Economy Collapses (Exclusive Interview)

If you want to help your friends and family once the traditional system collapses, buy bitcoin – advised Max Keiser….During the interview, the host of the Keiser report talked about the remarkable difference between the first Bitcoin conference in Prague ten years ago, price movements, crypto sentiment, and more.