Bitcoin (BTC) Closes Prior Hour Down -0.27%; Moves Up For the 2nd Straight Day, in an Uptrend Over Past 30 Days

The Hourly View for BTC

Last Updated September 9, 2021, 18:16 GMT

Currently, Bitcoin’s price is down $-124.77 (-0.27%) from the hour prior. This is the 2nd consecutive hour Bitcoin has seen its price head down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on BTC; it is now pointing down. The moving averages on the hourly 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 Daily Price Recap

Bitcoin came into today up 2.89% ($1149.62) from the open of yesterday, marking the 2nd straight day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 78.76% from the day prior, and up 87.43% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since yesterday in terms of percentage price change. The daily price chart of Bitcoin below illustrates.

BTC

Bitcoin Technical Analysis

Notably, the current price of Bitcoin is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Or to view things another way, note that out of the past 10 days Bitcoin’s price has gone up 5 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin:

  • From blockchainchick:

    How’s everyone doing? Just an encouragement for people to keep a level head during crashes like we just had. Bitcoin will do this several times in a bull. Yes we are still in a bull run. Learn to anticipate these types of pullbacks.

  • From CryptoWhale:

    #Bitcoin has been in a bear market ever since topping out at $64,000 in April. The rise we’ve seen these past few weeks was a dead cat bounce. It will all be reversed soon. Few understand this.

  • From fozmeadows:

    I am crying laughing at these bitcoin libertarians and their fucking ship, like. They knew they wanted SeaPods IN THE SHAPE OF THE BITCOIN B, but hadn’t figured out how to have more than one (1) kitchen for 2000 people. Absolutely peak techbro nonsense.