Don’t Look Now, But Bitcoin is Going Parabolic

The Daily View for Bitcoin

  • At the time of this writing, BTC’s price is down $-45.78 (-0.15%) 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.
  • 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.

Bitcoin’s hourly price chart is shown below.

BTC

The Daily View for Bitcoin

  • At the time of this writing, BTC’s price is down $-36.7 (-0.12%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Bitcoin has now gone down 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • 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 has a number of daily new addresses of 440100, up 19.93% from its value day prior.
  • Over the past 29 weeks, BTC’s daily large transaction count has been in a clear downtrend, falling by about 46.19 per day.
  • For BTC, its count of active addresses is now at 1044086.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled When is Best time to Buy and Sell Bitcoin #BTC #CRYPTOCURRENCY you may find interesting:

In this chart i will look what has happened and break down:-Best time to buy/sell Bitcoin-Percentage gains-What are things to consider for the next cycle-What have we learned from this cycle (3rd Halving)If we look closely, we see that if we buy Bitcoin at the Halving on every 4 year cycle and hold for 1 year, we would have received the best return on our investment (of course, not counting if you bought in the very beginning and still holding).If you don’t know what Bitcoin Halving is, please look it up because it is an important phenomenon.What percentages have we seen over the past 3 Halving? -1st Halving Bitcoin would have returned the most: ~10000%-2nd Halving would have returned: ~5000%-3rd Halving would have returned : ~800%-What are things to consider for the next cycle/Halving?As you can see, every Halving the percentage gain decreases. This is true for everything. The early on investors take the biggest risks, but they have the highest rewards.How can we tell for sure that the cycle is over? No one can time the market so the best thing for an investor is to do it is own research and have a plan of when to enter and when to exit. People often asked me how did you do? Well, last time (2017) I was fooled and held and it crashed, but this time around i bought it early on and sold 75% at 50k and left the rest to run. All my friends keep joking about how I would miss the biggest profits because BTC would go to 100k or 300k. When it comes to trading or investment, profits are profits and we must take them along the way. If the word: HOPE ever crosses our mind, it is time to sell or not enter the market at all. HOPE does not exist in trading. We must have a plan on when do we enter and when do we exit. You are in either for the long term and handle all the Ups …

ppatrading101