Bitcoin Came Into Today Up 0.21%

The Daily View for Bitcoin

  • At the moment, BTC’s price is up $43.99 (0.21%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Bitcoin has now gone up 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Bitcoin’s hourly price chart is shown below.

BTC

The Daily View for Bitcoin

  • Currently, BTC’s price is up $43.99 (0.21%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • The moving averages on the daily 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.
  • Divergence between BTC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in BTC’s price.

Below is a daily price chart of Bitcoin.

BTC

The Latest From BTC’s Blockchain

  • BTC has a daily large transaction count of 13316, down 33.54% from its value day prior.
  • Over the past 29 weeks, the trend for BTC’s count of active addresses has been choppy and unclear. It has oscillated between 703687 and 1188324.
  • For BTC, its daily large transaction count is now at 13316.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled Bitcoin you may find interesting:

Tuesday, 21 June 202202:24 AM (WIB) Technically, Bitcoin still trading in a falling wedge of the parallel channel. There are several times hit the middle lines of the parallel channel. And it seems the middle lines won’t last stand against the huge bears until next month. There are always be “IF” in this trading. Once the middle lines of the parallel channel are broken, the price will slide down to $10.000 or even more low to $4.000? However, the price needs to hit the ground. And the probability still moves more low to the bottom of the parallel channel. And, before this month-end, there are still 10 days for Bitcoin to touch the ground. Interesting! Where is Bitcoin’s lowest low? $3.500 – $4.000 seems possible right now in the Weekly time frame. Another option, moving up? I don’t think so. The highest resistance will …

RyodaBrainless