Bitcoin (BTC) Closes Prior Hour Up 0.13%; Crosses 20 Day Moving Average, Moves Down For the 2nd Consecutive Day, Price Base in Formation Over Past 30 Days

The Hourly View for BTC

Last Updated April 8, 2021, 04:016 GMT

At the time of this writing, Bitcoin’s price is up $71.64 (0.13%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Bitcoin has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Bitcoin Daily Price Recap

Bitcoin came into today down 3.55% ($2058.37) from the open of the previous day, marking the 2nd consecutive day a decline has happened. The price move occurred on stronger volume; specifically, yesterday’s volume was up 85.94% from the day prior, and up 4.7% from the same day the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! Below is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

First things first: Bitcoin crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Bitcoin’s price has gone up 6 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin:

  • From zhusu:

    Thiel is pointing out to the nation’s elite that, far from being tulips or a speculative mania, Bitcoin has geopolitical and civilizational significance and will be pivotal in the rise and fall of fortunes and empires$BTC

  • From Sweepsgg:

    I’m giving $100 to one lucky follower that retweets this within the next 24 hours. #Bitcoin To enter:
    – Follow @CryptoPoorBoy
    – Retweet + Like + Comment on their pinned tweetDM me to sponsor a giveaway like this.

  • From priusOBS:

    @LeagueTeague @ShahZaMk @SicK_cs @texerino @riotgames @PlayVALORANT ya dude because you can’t bet with real money/bitcoin/crypto on valorant matcheswhat a dumb ass take, of course they still can and valve banned a lot of steam bots that you can bet with skins, there’s really only skin marketplaces nowget your head out of your ass

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

Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP – Regulation Bitcoin News

by
Kevin Helms
Ripple Labs has reportedly won discovery from the U.S. Securities and Exchange Commission (SEC)….she then proceeded to order the SEC to produce internal discussions relating to whether XRP tokens are similar to cryptocurrencies like bitcoin (BTC) and ether (ETH), which are currently not regulated as securities.