Bitcoin Closed Yesterday Down -0.1%

The Daily View for Bitcoin

  • At the moment, BTC’s price is down $-35.42 (-0.09%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Bitcoin. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.

Bitcoin’s hourly price chart is shown below.

BTC

The Daily View for Bitcoin

  • At the moment, BTC’s price is down $-41.57 (-0.1%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Bitcoin. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.
  • 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 transaction count of 262292, up 2.51% from its value day prior.
  • Over the past 29 weeks, BTC’s number of daily new addresses has been in a clear downtrend, falling by about 819.49 per day.
  • For BTC, its average transaction value is now at 13.5376.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled Bitcoin [BTC] – Final Prediction $150,000+….. (PART 2) you may find interesting:

Bitcoin Final Prediction…. $150,000+ ???( I wanted to go a little more in depth with my analysis behind this prediction than I did in my initial post… )Since the summer, I’ve been tracking Bitcoin and publishing my charts on Tradingview. I’ve been doing pretty well tracking and forecasting it’s movements. https://www.tradingview.com/u/TraderFromTheNorth/#search-charts=COINBASE:BTCUSDThis current situation was a bit tricky for me over the past week because BTC has not really moved much and there was a lot of FUD. I’ve been back and forth on my thoughts on it as well, but now I am very confident with where I stand. I believe big whales dumped Bitcoin in May so that they could accumulate as much BTC as possible at a cheaper price. The accumulation phase was this summer and it’s over now. Whales are HODLing tight and refusing to sell. I think that this …

TraderFromTheNorth