Bitcoin is Up for the 3rd Day in a Row

The Daily View for Bitcoin

  • At the time of this writing, BTC’s price is up $359.72 (0.57%) from the day prior.
  • Bitcoin has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • 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

  • At the moment, BTC’s price is up $352.4 (0.56%) from the day prior.
  • The daily chart shows that Bitcoin has seen 3 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Of note is that the 20 day changed directions on BTC; it is now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward 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’s number of daily new addresses now stands at 408353.
  • Over the past 29 weeks, the trend for BTC’s number of daily new addresses has been choppy and unclear. It has oscillated between 223941 and 562687.
  • BTC has a daily large transaction count of 22462, down 17.61% from its value day prior.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled 🔆How to recognize the validity of the signal and make a profit you may find interesting:

Hi GuysWe are all familiar with the signals posted by different people in Trading View, but the main question is which signals are reliable and which ones are invalid ?In this post, I want to show you the ways to understand the validity of a signal so that you can make a good profit according to the tradingview signals:1️⃣ REPUTATION: When you enter a person’s page, you will see the green part of the reputation at the top of the page, which is announcing to you that:Suffice it to say that reputation is an indicator of trust, driven by how the community responds to users and their posts such as ideas and snapshots. The response is measured in social actions e.g. follows, likes, comments, views, etc.⚠️Notice: Anyone who has had a great reputation in Trading View is not necessarily a trustworthy person, and we must check his signals in method number 2 to use his signals.2️⃣Personally check the signal:As you know, when someone posts his analyses in a t…

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