The Hourly View for BTC
Last Updated September 14, 2021, 01:016 GMT
At the time of this writing, Bitcoin’s price is up $73.03 (0.16%) from the hour prior. This is the 2nd straight hour Bitcoin has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning above it. The moving averages on the hourly 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 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. As for how volume fared, yesterday’s volume was up 78.76% from the previous day (Sunday), and up 87.43% from Monday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Bitcoin ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Bitcoin below illustrates.
Bitcoin Technical Analysis
The first thing we should note is that Bitcoin is now close to its 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Bitcoin’s price has gone up 9 of the previous 14 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Bitcoin:
- From lawmaster:
I love Ethereum and it’s still the largest portion of my portfolio along with Bitcoin. But if you swap Solana for Ethereum in ETH people tweets, it sounds exactly like how bitcoiners sound and exactly what those people used to make fun of.
- From JeffBooth:
In a free market, prices fall as technology does more of our labour. and because governments have chosen to disregard free markets and manipulate money to stop those prices from falling, #Bitcoin is bringing the free market to money.From there, everything changes.
- From scottmelker:
#Bitcoin is showing potential bullish divergence with RSI on each time frame I checked from the 4 hour to daily charts. The hope is to see it confirm on the 4 hour then each subsequent time frame. Unconfirmed for now.