Bitcoin (BTC) Closes Prior Hour Up 0.51%; Heads Down For the 4th Straight Day, in an Uptrend Over Past 30 Days

The Hourly View for BTC

Last Updated March 2, 2021, 00:016 GMT

At the moment, Bitcoin’s price is up $252.97 (0.51%) from the hour prior. Bitcoin has seen its price go up 5 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists 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

Bitcoin is down 2.01% ($930.36) since yesterday, marking the 4th straight day a decline has happened. The price move occurred on stronger volume; specifically, yesterday’s volume was up 51.63% from the day prior, and up 43.57% from the same day the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Below is a daily price chart of Bitcoin.


Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 9 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From PeterSchiff:

    Congratulations to those who bought Bitcoin early, pumped up the price, and who’ve been dumping into the hype. You succeeded in getting Wall Street to buy into the mania. When I first learned about #Bitcoin I didn’t think smart investors would be dumb enough to buy. I was wrong.

  • From PeterSchiff:

    I find it interesting that major Wall Street firms, that loaded up on subprime mortgages and were completely blind-sided by the 2008 financial crisis, that would have gone bankrupt but for Fed bailouts, now advocate buying #Bitcoin to profit from the Fed’s bailout of the economy.

  • From RolandStautz:

    @PeterSchiff Who are you going to believe?Peter: He’s been saying Gold is going to $5,000 since 2011. It was at $1,850 in 2011 & now it’s at $1,720. PURE GARBAGEBitcoiners: Bitcoin goes up because it is The Best form of Money & SOV there is. It was $1 in 2011 and now in 2021 it is $48,000

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

Shark Tank’s Kevin O’Leary Reverses Stance on Bitcoin, Says Crypto Is Here to Stay, Invests 3% of His Portfolio – Featured Bitcoin News

Having previously called the cryptocurrency “garbage,” he has now changed his mind and believes that cryptocurrencies are here to stay….“And, finally, I’m starting to think about how do I invest in the infrastructure of mining bitcoin,” Mr. Wonderful added….Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.