Bitcoin’s Daily Large Transaction Count is 9705 — How Did it Impact Price?

The Daily View for Bitcoin

  • Currently, BTC’s price is down $-23.45 (-0.11%) from the day prior.
  • Bitcoin has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • 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 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

  • Currently, BTC’s price is down $-31.05 (-0.15%) from the day prior.
  • Bitcoin has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 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

  • Over the past 29 weeks, the trend for BTC’s daily transaction count has been choppy and unclear. It has oscillated between 186834 and 315759.
  • BTC’s average transaction value now stands at 8.5027.
  • BTC has a daily transaction count of 199919, down 10.65% from its value day prior.

Featured Bitcoin Idea From TradingView

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

In my opinion I think we will see bitcoin go somewhere between 100 to 300k in 2025. Probably more likely between 150 to 185k, after seeing how we topped out at only 70k this cycle it really changed my view on price action. I also believe Ethereum next cycle is going to beat bitcoin gains and will go to 7 to 11k minimum, its likely not going to be 20 to 40k that people want. Both very well could go way hig…

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