Bitcoin (BTC) Closes Prior Hour Down -0.07%; But Still in an Uptrend Over Past 90 Days, 3 Day Up Streak Snapped, Doji and Pin Bar Patterns Appearing on Chart

The Hourly View for BTC

Last Updated April 2, 2021, 23:16 GMT

Currently, Bitcoin’s price is down $-42.15 (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 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

Bitcoin is down 0.11% ($62.98) since yesterday, marking a reversal from the day prior — and the end of a 3 day positive run. This move happened on lower volume, as yesterday’s volume was down 39.55% from the day before — and down 54.43% from the same day the week before. On a relative basis, Bitcoin was the worst performer out of all 7 of the assets in the Top Cryptos asset class during yesterday. Here is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Coming into today Bitcoin is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 8 out of the past 14 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

Overheard on Twitter

Behold! Here are the top tweets related to Bitcoin:

  • From ImranSZN:

    @Bowaleace Everywhere calm, No outrage since morning. Let this woman come back from the vacation and her husband asks her to cook for him in the night, Bitcoin heist FC will come here with shovel to tell us cooking is not a gender role

  • From fienixtaranova:

    I don’t listen to people. Told me Bitcoin was bad. Told me crypto was a scam. Mobile homes aren’t cash cows. Ecom is too hard. Real estate requires too much money to get started. People be wrong with no experience telling other people what to do.

  • From SalsaTekila:

    I bet if bitcoin pops it’ll go to like $64k and dump.I don’t trust it after all the good news. Like I’m not retarded I ain’t trying to short thinking ‘THE TOP’ is in but I ain’t trusting this kind of stalling when market had all the good news in the world lately. Alts better.

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

Morgan Stanley Adds Bitcoin to 12 Mutual Funds’ Investment Strategies – Finance Bitcoin News

The purpose of the filing is to enable 12 of the investment bank’s mutual funds to start adding exposure to bitcoin….The company explained that “Bitcoin Exposure” has been added to the “Investment Policies and Strategies” of 12 mutual fund portfolios, under “Other Securities and Investment Strategies” section.