Bitcoin (BTC) Closes Prior Hour Up 0.6%; in an Uptrend Over Past 14 Days, 2 Day Up Streak Broken

The Hourly View for BTC

Last Updated February 19, 2021, 23:16 GMT

At the time of this writing, Bitcoin’s price is up $334.04 (0.6%) from the hour prior. Bitcoin has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Bitcoin Daily Price Recap

51591.61 (USD) was the opening price of the day for Bitcoin, resulting in the previous day being one in which price moved down 1.08% ($563.3) from the previous day. This move happened on lower volume, as yesterday’s volume was down 36.68% from the day before — and down 36.06% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 5th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Bitcoin’s price has gone up 5 them.

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 Jason:

    It’s not a bubble… it’s not a bubble (say it with me!):– Bitcoin at $1T
    — Clubhouse at 1b w/~5m users
    — Failing game retailer selling DVDs at a $20b during a pandemic
    — Ripple sued by SEC & XRP goes.. UP!
    — Mortgage rates at all-time lows
    — Failed @FiskerInc worth $5b

  • From tyler:

    Institutional Investors in 2017: #Bitcoin is too cheap for us to buy right now.Institutional Investors in 2021: #Bitcoin is expensive enough for us to buy right now.It may seem counterintuitive, but this is how institutions think. They are just getting started.

  • From krugermacro:

    #Bitcoin just hit $1 trillion in market cap. Some are saying it represents “strong resistance”. That’s incorrect. No intelligent trader puts stops, chooses strikes or takes profit based on MC. Only special thing about $1 trillion is that it means early bitcoiners are now all rich

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

Exclusive: YouTube Stars Jake Paul And Ben Phillips ‘Discussed’ Creating A Cryptocurrency As Bitcoin And Dogecoin Mania Spreads

[+] creating his own bitcoin-like cryptocurrency amid a surge in the value of meme-based crypto token dogecoin….The dogecoin price has surged higher in recent weeks, climbing alongside the bitcoin price….I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.