Bitcoin (BTC) Price Near $13,690.70; Heads Up For the 2nd Straight Day, in an Uptrend Over Past 14 Days, Price Base in Formation Over Past 90 Days

By October 27, 2020Bitcoin Business
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The Hourly View for BTC

Last Updated October 28, 2020, 01:037 GMT

At the moment, BTC’s price is down $-28.06 (-0.2%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly 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 Daily Price Recap

Bitcoin closed the previous day up 4.41% ($576.59); this denotes the 2nd straight day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 30.89% from the day prior, and up 4.73% from the same day the week before. Bitcoin outperformed all 7 assets in the Top Cryptos asset class since the previous day. The daily price chart of Bitcoin below illustrates.


Bitcoin Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Bitcoin’s price has gone up 8 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Bitcoin for the past day were:

  • From tyler:

    I do think we will see an all-time-high price for #Bitcoin before 2020 is over. Even though the price has climbed from 10k to almost 14k in less than a month, it hasn’t really gone on a breakout run yet. When we start to see 3-5k surges then the bulls will be on the run

  • From tyler:

    The most financially sophisticated people I know, who do not work in crypto, all have taken positions in #Bitcoin in the last 6 months. This quiet groundswell of demand is the reason bitcoin is on its way to 14k and beyond.

  • From RaoulGMI:

    Bitcoin’s performance is SO dominant and SO all-encompassing that it is going to suck in every single asset narrative dry and spit it out. Never before in my career have I see a trade so dominant that holding any other assets makes almost no sense.

For a longer news piece related to BTC that’s been generating discussion, check out:

That represents a $100 million gain within the space of two months since it was only in August that MicroStrategy first announced it was going to buy Bitcoin….Twitter: Kevin Rooke Another factor worth noting aside from the significant Bitcoin gains is that MicroStrategy’s stock has grown significantly since the initial announcement that the company would buy Bitcoin.

Last Updated October 28, 2020, 01:037 GMT

At the moment, BTC’s price is down $-28.06 (-0.2%) from the hour prior. This move is a […]

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