Bitcoin (BTC) Up $89.96 On 4 Hour Chart, Started Today Up 0.99%; Nears 100 Day Moving Average

Bitcoin 4 Hour Price Update

Updated September 10, 2020 03:18 PM GMT (11:18 AM EST)

Bitcoin closed the last 4 hour candle up 0.87% ($89.96); this denotes the 2nd straight candle an upward move has occurred. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.

Bitcoin Daily Price Recap

10228.85 (USD) was the opening price of the day for Bitcoin, resulting in the previous day being one in which price moved up 0.99% ($100.31) from the previous day. This move happened on lower volume, as yesterday’s volume was down 37.32% from the day before — and down 43.9% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 3rd since the previous day in terms of percentage price change. Here is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

The first thing we should note is that Bitcoin is now close to its 100 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 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days.

Overheard on Twitter

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

  • From daggy_waggy:

    I just sold my car to buy more $DAG. I think next year bitcoin will blow up to $100k and there will be a point dag hits a multi billion marketcap and make more overnight millionaires than any project. You only need to be right once and DAG makes it easy. Bike here I come.

  • From Erikcason:

    How is it possible that Bitcoin and whole crypto ecosystem has come so far, and yet no serious academic inquiry has been done by those in the fields of economics or philosophy?To me this is the greatest testimony against academia and its conformism.

  • From winklevoss:

    #Bitcoin and Ether are emergent money. They haven’t been forced upon anyone, their adoption is peaceful and organic. Fiat money is violent money, its adoption always requires force.

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

Underdog Story: Why XRP Could Soon Outperform Bitcoin And Ethereum | NewsBTC

However, that underperformance could turn into an underdog story, where Ripple roars past Bitcoin and Ethereum and beats the rest of the crypto space….With all of these technicals pointing to an XRP breakout against both Bitcoin and Ethereum, and past evidence showing that Ripple was the first to pump, a major rally in crypto could soon be here.