Bitcoin (BTC) Price Near $57,548.19; 2 Day Up Streak Broken

The Hourly View for BTC

Last Updated April 7, 2021, 04:016 GMT

Currently, Bitcoin’s price is down $-350.33 (-0.61%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on BTC; it is now pointing down. 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

The back and forth price flow continues for Bitcoin, which started today off at 58010.35 US dollars, down 1.88% ($1109.21) from yesterday. The change in price came along side change in volume that was up 6.68% from previous day, but down 25.62% from the Tuesday of last week. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during yesterday. The daily price chart of Bitcoin below illustrates.

BTC

Bitcoin Technical Analysis

The first thing we should note is that Bitcoin is now close to its 20 day averages, located at 56765.71 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Bitcoin’s price has gone up 6 of the previous 10 trading days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 14 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From ROMARIOHODL:

    I’m getting 2017 flashbacks. Someone is manipulatively dumping bitcoin to keep it below 60k for as long as they need to accumulate. And then they’ll buy all at once and you’ll see a 15k daily green candle. Then your Uber driver will ask if you own any btc. This is not the top lol

  • From real_vijay:

    Coinbase is going to list publicly in less than 10 days and reported blowout numbers today (~800m in profit on 1.8B on revenue).Sounds great, but imagine how much more they’d be worth if they had held their profits in #Bitcoin instead of dollars for the last 8 years.

  • From stack2thefuture:

    My friends told me to sell my #bitcoin in 2017. They told me to sell in 2018. They told me to sell in 2019. They told me to sell in 2020.I have never sold a SINGLE sat. I’m here for generational wealth.There’s a certain power that comes from that. Conviction commands respect.

As for a news story related to Bitcoin getting some buzz:

Bitcoin Standard Hashrate Token price today, BTCST live marketcap, chart, and info | CoinMarketCap

Bitcoin Standard Hashrate Token is up 8.34% in the last 24 hours….BTCST tokens can only be issued when eligible miners choose to standardize and tokenize Bitcoin hashrate….Bitcoin Standard Hashrate Token (BTCST) can be traded on the following exchanges: Read our guide on how to buy Bitcoin to find out more.