The hourly view for BTC
Last updated November 22, 2020 at 02:03 UTC
Currently, the price of BTC is up $ 35.02 (0.19%) from the previous hour. This move is a reversal from the previous hour, which saw prices drop. If you are a trend trader, consider that the strongest clear trend on the hourly chart exists over the 50 hour period. Traders in price action may also wish to note that we are seeing a doji candlestick pattern on BTC. Since we are seeing a downtrend over the 10 hour candle period and such candlestick patterns often denote reversals, it may be worth noting. Moving averages over the hourly period suggest that the price is falling, as the 20, 50, 100, and 200 are all in a bearish alignment – meaning that shorter duration moving averages are lower than longer duration averages, this which implies a stable downward trend.
Daily Bitcoin Price Summary
Bitcoin entered today up 0.17% ($ 31.28) from the opening the day before, marking the 6th day in a row, it increased. The price change came alongside the volume change which was down 24.99% from the previous day but up 55.75% from Saturday of last week. Traders within the Top Cryptos asset class should be aware that Bitcoin was the worst performing in the class during the previous day. Here is a chart of the daily Bitcoin prices.
Bitcoin technical analysis
The clearest trend exists on day 14 calendar, which shows that the price increases during this period. Or to see it another way, note that over the last 30 days the price of Bitcoin has increased by 19. And for candlestick traders, a treat: there are also doji and pin bar models. that appear on the charts. Rejoice!
Heard on Twitter
On Twitter, here are the main Bitcoin tweets:
- Of PeterSchiff:
Anyone who buys Bitcoin from a PayPal account trusts a third party to store their Bitcoin. This goes against the alleged advantage that #Bitcoin has over #gold. Paypal could just as easily hold gold, a real store of value, and allow customers to sell their gold to pay for things.
- Of Scottmelker:
Grayscale buys more bitcoin than it gets mined. The Cash application and PayPal will soon be doing the same. These are only 3 companies. Imagine when every business wants to be exposed. And you too. The shock on the supply side is a virtual certainty. Get your #Bitcoin while you can.
- Of Tyler:
Money stored in a bank will be overwhelmed. Money invested in assets like real estate or the stock market will keep pace. Money stored in gold or #Bitcoin will overcome the scourge of inflation. And the money stored in bitcoin will be the one that overtakes gold the fastest.
For a longer article on BTC that has sparked some discussion, check out:
The bullish case for Bitcoin. With the price of a bitcoin climbing to… | by Vijay Boyapati | Way
Bitcoins are transferable digital tokens that are created on the Bitcoin network in a process known as “mining”…. Bitcoin is network-level fungible, which means that every bitcoin, when transmitted, is treated the same on the Bitcoin network…. that this fork and Bitcoin would command a significant fraction of the total gold market cap (both gold and Bitcoin would have market caps equivalent to a bitcoin price of around $ 380,000 at the time of writing)…. money from a country is ditched and replaced by Bitcoin, Bitcoin will have moved from being a store of value in that society to a generally accepted medium of exchange … Also, once the opportunity cost of trading bitcoin will be at a level at which it is suitable as a medium of exchange, most trades will not. occur on the Bitcoin network itself but on “second layer” networks with much lower fees … As a non-sovereign monetary good, it is possible that at some point in the future Bitcoin will come a world currency much like gold during the classic 19th century gold standard.