The Hourly View for BTC

Last Updated June 7, 2021, 06:016 GMT

At the time of this writing, Bitcoin’s price is down $-36.22 (-0.1%) from the hour prior. Bitcoin has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly 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 Daily Price Recap

The choppiness in the recent daily price action of Bitcoin continues; to start today, it came in at a price of 35798.57 US dollars, up 0.73% ($260.17) since yesterday. This move happened on lower volume, as yesterday’s volume was down 31.7% from the day before — and down 25.59% from the same day the week before. Those trading within the Top Cryptos asset class should know that Bitcoin was the worst performer in the class during yesterday. Let’s take a look at the daily price chart of Bitcoin.

Bitcoin Technical Analysis

The first thing we should note is that Bitcoin is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for Bitcoin has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Bitcoin:

• From islamwya:
  

  Giving away $1000 in Bitcoin, $1000 in ETH, $1000 of BNB and $1000 of $TIME (MoonTime) to 4 DIFFERENT winners if Logan even knocks down Floyd once tonight. Just retweet and be following me. Simulation break? Will send it out tonight LETS GO!#MayweatherPaul #FloydvsLogan

• From Breedlove22:
  

  Being mobbed with love all throughout the #Bitcoin 2021 conference was one of the best experiences of my life. Looking people in the eye as they tell you about the impact you’ve had on their lives and worldviews is a fantastic feeling. Much love y’all#Bitcoin2021 #BitcoinMiami

• From TheCryptoLark:
  

  As the #bitcoin block reward subsidy falls it will be interesting to see how miners react since tokens and other blockchains are now generating more in fees. Why invest tens of millions in a warehouse and mining computers when you could just buy and stake a bunch of #ethereum?

In terms of news links for Bitcoin here’s one to try:

Max Keiser: Buy Bitcoin to Help Your Family When the Global Economy Collapses (Exclusive Interview)

If you want to help your friends and family once the traditional system collapses, buy bitcoin – advised Max Keiser….During the interview, the host of the Keiser report talked about the remarkable difference between the first Bitcoin conference in Prague ten years ago, price movements, crypto sentiment, and more.

The post Bitcoin (BTC) Price Near $36,259.65; 2 Day Down Streak Snapped, in a Downtrend Over Past 90 Days appeared first on CFDTrading.