Wondering About Bitcoin’s Latest Daily Large Transaction Count? Read to Find Out

The Daily View for Bitcoin

  • At the moment, BTC’s price is up $58.23 (0.14%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up 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 downtrend on the 20 and 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being above it. 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 moment, BTC’s price is up $29.43 (0.07%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 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 20 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 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.
  • 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

  • For BTC, its count of active addresses is now at 972780.
  • 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 907493.
  • BTC has a daily large transaction count of 21514, down 0.84% from its value day prior.

Featured Bitcoin Idea From TradingView

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