Wondering About Bitcoin’s Latest Number Of Daily New Addresses? Read to Find Out

The Daily View for Bitcoin

  • At the moment, BTC’s price is down $-24.34 (-0.11%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved 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 20 and 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 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.

Bitcoin’s hourly price chart is shown below.

BTC

The Daily View for Bitcoin

  • Currently, BTC’s price is down $-21.77 (-0.09%) 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 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 an uptrend 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

  • Over the past 29 weeks, the trend for BTC’s daily transaction count has been choppy and unclear. It has oscillated between 199369 and 315759.
  • For BTC, its daily large transaction count is now at 15495.
  • BTC has a count of active addresses of 962865, up 6.32% from its value day prior.

Featured Bitcoin Idea From TradingView

Below is a trading comment entitled Onchain: Miners,banks and whales did not support the bull market you may find interesting:

A look at various Onchain metrics shows that miners, banks, and whales do not support the increase in the price of Bitcoin. Banks continued to reduce their Bitcoin reserves and the miners sold their bitcoins . B…

MJShahsavar