Bitcoin (BTC) Closes Last Hour Up $9.69; 2 Day Up Streak Snapped, in an Uptrend Over Past 90 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for BTC

Last Updated April 29, 2021, 03:016 GMT

At the time of this writing, Bitcoin’s price is up $9.69 (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 54877.94 US dollars, down 0.36% ($195.54) from the day prior. As for how volume fared, yesterday’s volume was up 5.37% from the previous day (Tuesday), and up 1.17% from Wednesday of the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 3rd since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Bitcoin.


Bitcoin Technical Analysis

Coming into today Bitcoin is now close to its 20 and 50 day averages, located at 56865.93 and 56986.12 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Bitcoin’s price has gone down 7 them. 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 ashwsbreal:

    @cz_binance I asked my dad to transfer me $100k
    He went to bank , waited 30 minutes ,signed 20 pages
    money came in like 2 days .I just scanned my dad’s QR code and sent him $100k #Bitcoin in 10 minutes while he was driving to bank. It would be faster if I used #BNB though.

  • From saifedean:

    The best advice I can give people interested in learning about bitcoin isSHUT UP ABOUT BITCOINWanting to appear smart is your biggest learning impediment. Until you’ve spent many months obsessively & silently studying bitcoin, you don’t have anything important to say about it

  • From AltcoinPsycho:

    Many don’t realize the underlying political nature of Bitcoin. It’s a way to undermine political strongholds and also level out the playing field for countries that are affected by sanctions. I often wonder how overlooked this is, and I don’t think it’s priced in.

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

In Praise of Bitcoin | Epsilon Theory

None of which ARE Bitcoin….Except it’s not really Bitcoin….It’s exactly the same with Bitcoin!…It can, however, see Bitcoin!…Bitcoin!…Bitcoin?