Bitcoin’s Latest Number Of Daily New Addresses Stands At 425644

The Daily View for Bitcoin

  • Currently, BTC’s price is up $88.09 (0.23%) 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 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

  • At the moment, BTC’s price is up $88.09 (0.23%) from the day prior.
  • This is the 2nd day in a row Bitcoin has seen its price head up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • Of note is that the 50 day changed directions on BTC; it is now pointing up. 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

  • BTC has a count of active addresses of 970531, down 8.78% from its value day prior.
  • Over the past 29 weeks, the trend for BTC’s number of daily new addresses has been choppy and unclear. It has oscillated between 322140 and 907493.
  • For BTC, its number of daily new addresses is now at 425644.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled Bitcoin: Bears Still In Control. you may find interesting:

Bitcoin is trying to establish yet another double bottom like formation, but there is no reason to get excited. Momentum across the board is bearish which means any buy signals are likely to be limited and/or lack follow through. Focus more on the levels ahead that offer some possibilities, NOT try to guess where Bitcoin is going next.In case you haven’t noticed, Bitcoin does not trade in isolation. It is affected by other markets like? The S&P500. On Friday, the S&P generated a sell signal and closed near its lows. This week, there is a possibility that the main support breaks which can lead to a more dramatic sell off. If the S&P can’t rally, Bitcoin is going no where. Rising rates (see the bond market, see the U.S. Dollar) put bearish pressure on everything, especially highly speculative instruments like Bitcoin and alt coins.So what to do now? Everyone tries to figure out the next move, point A to point B. Let the market figure it out and inst…

MarcPMarkets