Bitcoin’s Daily Transaction Count is 218112 — How Did it Impact Price?

The Daily View for Bitcoin

  • At the moment, BTC’s price is up $11.95 (0.02%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Bitcoin has now gone up 8 of the past 10 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin. Given that we see an uptrend 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 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.

Bitcoin’s hourly price chart is shown below.

BTC

The Daily View for Bitcoin

  • Currently, BTC’s price is down $-1.53 (0%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin. Given that we see an uptrend on the 10 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.

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 373411.
  • Over the past 29 weeks, the trend for BTC’s average transaction value has been choppy and unclear. It has oscillated between 3.7082 and 45.9615.
  • BTC has a count of active addresses of 815756, down 16.63% from its value day prior.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled BTC CYCLES ANALYSIS you may find interesting:

English DescribtionAs we can see on the charts I’ve tried to describe the BTC Price cycles over the past years how the bull run started and in which months the bull run started , In these chart’s I’ve shown that In September as always the Btc broke out of the trendline of the accumulation phase , So the Btc as it was shown in the paragraph on the chart always started the break out phase in the September , So for now we are at the phase in a near breakout trendline in the price of last year , If we broke out this price the price will start to go up slowly till in April , As i described in the Chart Btc price could go up in 2022 April by 120k , And as it was shown in the c…

WallstreetbetsAL