Bitcoin (BTC) Closes Last Hour Up $18.40; Moves Up For the 2nd Consecutive Day

The Hourly View for BTC

Last Updated April 6, 2021, 03:016 GMT

At the time of this writing, Bitcoin’s price is up $18.4 (0.03%) 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 20 hour timeframe. Of note is that the 100 hour changed directions on BTC; it is now pointing up. 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 up 1.55% ($900.13) since yesterday, marking the 2nd consecutive day an increase has occurred. The change in price came along side change in volume that was up 31.69% from previous day, but down 51.2% from the Monday of last week. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 6th for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The first thing we should note is that 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. 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 up 7 out of the past 10 days.

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 gladstein:

    Satoshi Nakamoto listed their birthday as April 5, 1975If you are wondering what animated them to create Bitcoin:April 5 = FDR signed order 6102 making it illegal for Americans to own gold1975 = Americans could legally own gold againIt’s all about about financial freedom.

  • From DocumentingBTC:

    62% of clients now say they would switch financial advisors to one that offers advice about #Bitcoin 82% of clients now expect their financial advisors to be a knowledgeable source about #Bitcoin 21% of financial advisor clients have brought #Bitcoin

  • From HazardPay5:

    My dad sold a rental property last year and gave me equalivant to 5% of his net worth to invest for him. I put almost all of it into #Bitcoin and the account is now 25% of his net worth. He now texts me randomly with “HODL!!” 😂 classic @danheld

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

Coinbase and Bakkt Are Behind Paul Tudor Jones’ Bitcoin Bets, SEC Documents Show – CoinDesk

“Tudor Family Fund II,” which is open to relatives and close associates of the macro king, was the only one of Tudor Investment Corp.’s eight hedge funds to disclose crypto custodians on the firm’s annual Form ADV, filed March 31….Not even the $27 billion Tudor BVI Global Fund, which last year presaged Tudor Jones’ bitcoin romance when it jumped into crypto futures in early May, has any industry tie-ups, according to similar SEC filings.