Bitcoin’s Daily Large Transaction Count is 22993 — How Did it Impact Price?

The Daily View for Bitcoin

  • At the time of this writing, BTC’s price is up $144.99 (0.34%) from the day prior.
  • The daily chart shows that Bitcoin has seen 3 straight up days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • 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 $139.63 (0.33%) 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.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • 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

  • Over the past 29 weeks, BTC’s daily large transaction count has been in a clear uptrend, growing by about 43.76 per day.
  • For BTC, its average transaction value is now at 12.8422.
  • BTC has a number of daily new addresses of 432431, up 18.04% from its value day prior.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled BTC: FORMING A CHANNEL. you may find interesting:

Hello guys, here’s a quick update on BTC price in 4 hours timeframe.BTC is forming a channel here and looks like $40500 to $42700 is the support and resistance. In between, we have the 21 MA and currently, BTC is below it.I am expecting BTC to drop up to the $40500 level and then bounce back but if it breaks below the $40500 support level then BTC is in danger. For a bullish move, BTC…

Dexter_The_Trader