Bitcoin’s Number Of Daily New Addresses is 384472 — How Did it Impact Price?

The Daily View for Bitcoin

  • At the moment, BTC’s price is down $-10.82 (-0.05%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • 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 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 down $-10.82 (-0.05%) 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.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Bitcoin. Given that we see downtrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 day changed directions on BTC; it is now pointing down. 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

  • BTC’s daily transaction count now stands at 253417.
  • Over the past 29 weeks, the trend for BTC’s average transaction value has been choppy and unclear. It has oscillated between 5.6898 and 59.6866.
  • BTC has an average transaction value of 14.8107, up 74.19% from its value day prior.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled BTCUSD weekly (26/07/2022) you may find interesting:

:In this logarithmic scale analysis of the BTC/USD pair in BITSMAP, where the trajectory of these fluctuations since their incorporation together with the blockchain in the market is found, we are going to analyze possible key trend changes previously as well as the high probability of having reached a theoretical absolute background.Mainly we understand on a macro or weekly scale in bitcoin certain bearish patterns of change in trend, we have two similarities in the funds generated in previous cycles and transferred to the current one. In addition, we understand the importance of a Wyckoff change pattern as well as its phases that will be explained in later analyses.We must pay attention to the minimum areas of the RSI around 25 points. The break of the moving average of 200 periods consolidating under it a brief temporary interval. And finally the gauge cluster pressure zones in the Phoenix Ascending indicated in red.All this warns us of wonderful long-term Bitcoin buy zones and for Holdeo, with a well-measured key strategy.Geopolitical uncertainty has yet to give traditional markets great fear scares due to the non-existent supply of cheap gas and the inefficient and insufficient production of electrical energy by Europe.For winter, major energy crises will be approaching, reflected in the S&P and the NASDAQ as well as the large global markets.From this humble channel we recommend mainly Europeans or, as in my case, Spaniards, to opt for self-sufficiency in renewable energies, solar or mini-wind self-consumption.As well as using good analysis to support the prosperous and future growth of certain sectors such as blockchain, energy, minerals or digital tools.In this logarithmic scale analysis of the BTC/USD pair in BITSMAP, where the trajectory of these fluctuations since their incorporation together with the blockchain in the market is found, we are going to analyze possible key trend changes previously as well as the high probability of having reached a theoretical absolute background.Mainly we understand on a macro or weekly scale in bitcoin certain bearish patterns of change in trend, we have two similarities in the funds gen…

AVNGL01