Bitcoin 4 Hour Price Update
Updated May 24, 2020 07:17 PM GMT (03:17 PM EST)
Bitcoin closed the last 4 hour candle down 1.35% ($122.26); this denotes the 3rd candle in a row a decrease has occurred. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during the last 4 hour candle.
Bitcoin Daily Price Recap
Bitcoin came into today up 0.17% ($15.45) from the open of the previous day, marking the 2nd day in a row an upward move has occurred. This move happened on lower volume, as yesterday’s volume was down 46.25% from the day before — and down 37.46% from the same day the week before. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
Notably, 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 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Bitcoin’s price has gone up 7 of the previous 10 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
Overheard on Twitter
Behold! Here are the top tweets related to Bitcoin:
- From RaoulGMI:
But here is the beautiful thing….If I’m right, gold and bitcoin go up.If I’m wrong and the dollar falls from here, gold and bitcoin go up.That is why these are such dominant trades. US Dollar is next most dominant, and then bonds to negative rates.#Bitcoin #Gold
- From IamBitmannn:
#Bitcoin Celebration Giveaway! 🥳 Giving away $150 in $BTC to 3 people ($50 each) who:1) Follow @IamBitmannn2) Like and RetweetWinners will be announced in 72 hours! ⏰ 5000 followers celebration like I promised! 🍾 Good Luck!$BTC $ETH #ETH #Crypto
- From lopp:
If you already own bitcoin, you’re an early adopter. There are still many risks and rough edges for hodlers. By the time Bitcoin is safe, private, and frictionless to use, the great wealth transfer will be complete. There will be little alpha remaining for laggards to capture.
For a longer news piece related to BTC that’s been generating discussion, check out:
Ten years ago today, a developer named Laszlo Hanyecz did it with bitcoin….The day is now known as “Bitcoin Pizza Day.” With one bitcoin now worth $9,500, this is apparently a joke and Hanyecz’s $45 million pizzas are the punchline….Hanyecz’s solid-gold pizzas show us that if CoinDesk paid me in bitcoin, one of us would likely get rekt.