Bitcoin (BTC) Up $43.18 On 4 Hour Chart, Fares the Worst Out of Top Cryptos to Start the Day; Entered Today Down 0.11%

Bitcoin 4 Hour Price Update

Updated September 18, 2020 11:20 AM GMT (07:20 AM EST)

Bitcoin closed the last 4 hour candle up 0.39% ($43.18); this denotes the 2nd candle in a row an increase has occurred. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 3rd since the last 4 hour candle in terms of percentage price change.

Bitcoin Daily Price Recap

Bitcoin’s 3 day positive streak has officially concluded, as the candle from the previous day closed down 0.11% ($11.96). This move happened on lower volume, as yesterday’s volume was down 21.27% from the day before — and down 35.06% from the same day the week before. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during the previous day. Let’s take a look at the daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Coming into today Bitcoin is now close to its 20 and 50 day averages, located at 10743.9 and 11271.7 respectively, and thus may be at a key juncture along those timeframes. Volatility for Bitcoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For another vantage point, consider that Bitcoin’s price has gone up 17 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

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 theRealKiyosaki:

    UNEMPLOYED BANKERS. Did Buffet dumping BIG BANKs signal end of banks? Is crypto US dollar next? Will crypto US $ mean more loss of freedom & privacy? More Orwell’s 1984 BIG BROTHER? Will Fed replace bankers? Is Fed Big Brother? More reasons to buy gold silver Bitcoin now.

  • From cameron:

    On this day in 2013, @tylerwinklevoss and I presented the long case for #Bitcoin at the Value Investing Congress in NYC. The price of bitcoin was $132.Same conference where @davidein presented a short case for Lehman in 2007. Lehman filed for bankruptcy less than a year later.

  • From aantonop:

    @PeterMcCormack @bitcoinpasada @Bitcoinschurch @pierre_rochard @MicroStrategy @BitcoinErrorLog @Bitcoin In the week since this episode came out, I’ve been called a cuck, fag, beta, shitcoin shiller, douchebag, and idiot. I’ve had my book co-authors told to stop working with me to avoid negative affects on their career. I’ve been threatened in DMs. This isn’t theoretical.

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

Bitcoin: A Compelling Monetary Asset? | White Paper by ARK Invest

ARK focuses on innovation so that our investors can capitalize on four market inefficiencies….A white paper by Renato Leggi, Client Portfolio Manager at ARK Invest
In Part 1 of this research, we described how we believe Bitcoin, a novel economic institution, satisfies the four assurances that maximize the probability of a robust and predictable financial system.