Bitcoin 4 Hour Price Update
Updated March 21, 2020 05:34 AM GMT (01:34 AM EST)
Bitcoin is up 0.5% ($31.34) since the previous 4 hours, marking the 2nd candle in a row it has gone up. Out of the 5 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.
Bitcoin Daily Price Recap
Bitcoin closed yesterday up 0.35% ($21.56); this denotes the 4th day in a row it has gone up. The change in price came along side change in volume that was up 9.02% from previous day, but down 43.06% from the Friday of last week. Bitcoin outperformed all 5 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 7 out of the past 10 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
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin for the past day were:
- From Bitcoin:
Bitcoin is the revenge of the nerds.
- From Bitcoin:
Fiat = Proof of TalkBitcoin = Proof of Work
- From scottmelker:
Just your weekly reminder that Bitmex is a horrid exchange that almost took the Bitcoin price to 0 a week ago.
In terms of news links for Bitcoin here’s one to try:
There are people who are relatively new to crypto….When the stock market crashes hard, more people will feel the cash crunch to a higher degree and, hence, a stronger conviction to sell crypto in the short term as well….So there’s increased demand or pressure of people wanting to sell their investments (stocks or crypto) into cash, again in the short term. In theory, gold prices should go up, but that didn’t happen either….Due to inefficiencies in fiat transfers, it takes time for people to deposit money into crypto exchanges to buy bitcoin….With crypto, it’s different….But this time, people have more choices.