Momentum Reversal? Bitcoin’s Heads Down for the First Time in 3 Days

The Daily View for Bitcoin

  • Currently, BTC’s price is down $-171.14 (-0.25%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Bitcoin has now gone up 4 of the past 5 days.
  • 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 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’s hourly price chart is shown below.

BTC

The Daily View for Bitcoin

  • At the time of this writing, BTC’s price is down $-169.12 (-0.25%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily 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.
  • 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

  • Over the past 29 weeks, the trend for BTC’s number of daily new addresses has been choppy and unclear. It has oscillated between 223941 and 562687.
  • For BTC, its count of active addresses is now at 843882.
  • BTC has a number of daily new addresses of 392010, down 4% from its value day prior.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled BTC pumping you may find interesting:

Hello everyone. I know some of you were left in the dark in the last few days. I didn’t update you as y view didn’t change since the last time.Now we have finally the breakout I called about for the last week. BTC has finally started moving, breaking out of the bullish pennant. Although we all want BTC to hit 100K tomorrow, that want happen till the beginning of December. I have been talking in chats about BTC painting a three raising methods four days ago, A bullish engulfing on the daily and 12 h frame yesterday and today we have the good move. Also, the BB was predicting high volatility, to…

CFcryptoTA