Bitcoin (BTC) Closes Last Hour Down $-7.13; Heads Up For the 2nd Straight Day, in an Uptrend Over Past 14 Days

The Hourly View for BTC

Last Updated September 7, 2021, 00:016 GMT

Currently, Bitcoin’s price is down $-7.13 (-0.01%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Bitcoin has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Bitcoin. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly 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 Daily Price Recap

Bitcoin came into today up 2.89% ($1149.62) from the open of the previous day, marking the 2nd straight day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 78.76% from the day prior, and up 87.43% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Bitcoin ranked 2nd since the previous day in terms of percentage price change. Here is a daily price chart of Bitcoin.

BTC

Bitcoin Technical Analysis

Coming into today Bitcoin is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Bitcoin’s price has gone up 16 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin for the past day were:

  • From JeffBooth:

    Tomorrow, El Salvador will officially begin using #Bitcoin as its national currency. If you live in a country where rights and freedoms are taken for granted b/c of a strong financial system, it might be easy to miss the significance…and what it means for the future of money.

  • From JeffBooth:

    @nayibbukele FUD makes #BItcoin stronger because it brings more attention/people to the network.
    As each lie is exposed, many of those same people awaken to the truth of what #Bitcoin is and the hope it brings to billions of people, and can never unsee it again.
    An idea whose time has come.

  • From francispouliot_:

    The $30 isn’t about pumping the price of Bitcoin. Even with multiple millions of people I doubt it would make a big dent. It’s about collectively celebrating an important milestone and participating in a shared ritual. I love it! Bitcoin memes are the best memes in the world!

In terms of news links for Bitcoin here’s one to try:

With Coinbase And SAP, Vast Bank Offers Bitcoin, Ethereum, Cardano And Litecoin

Vast Bank, N.A. is now the first federally chartered bank in the U.S. to offer the ability to buy, sell, and custody cryptocurrencies – directly from a checking account – all under one roof….I am so happy to see the Vast Bank opening its doors to the unbanked population of crypto holders, blockchain development companies, innovators and creators who benefit from strong regulations by a financial institution.” I had the chance to interview Scrivner who shared the journey of Vast Bank in what today is the first OCC regulated bank to allow customers to purchase crypto directly from their bank accounts….As to the types of customers that would come to his bank to purchase cryptocurrency as opposed to off on an exchange, Scrivner declared, “There’s lots of different customers out there that may want to control everything and have their own wallet, their own passcodes, and then there are those who are crypto curious and may prefer to work with a bank or an intermediary, just because they don’t quite understand.” Below is my interview with Scrivner of Vast Bank, the first federally chartered bank to both offer custody and exchange of crypto directly from a bank account….Brett: Was blockchain and cryptocurrency new to you and your bank?…The time spent understanding the technology enabled us to be agile enough to pivot and to prioritize cryptocurrencies Vast Bank, N.A. logo Brett: You’ve brought some world class partners to the table like Coinbase, which is the largest US exchange, and also SAP….Brett: What are the eight cryptocurrencies that your bank offers?