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Wrapped Bitcoin Does it Again: Heads Up for the 2nd Straight Day

WBTC

The Hourly View for Wrapped Bitcoin

  • Currently, WBTC’s price is up $9.42 (0.02%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Wrapped Bitcoin has now gone down 4 of the past 5 hours.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe.
  • The moving averages on the hourly 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.

Wrapped Bitcoin’s hourly price chart is shown below.

WBTC

The Daily View for Wrapped Bitcoin

  • At the time of this writing, WBTC’s price is up $268.97 (0.55%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Wrapped Bitcoin has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Of note is that the 100 day changed directions on WBTC; it is now pointing up. 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 WBTC’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in WBTC’s price.

Below is a daily price chart of Wrapped Bitcoin.

WBTC

The Latest From WBTC’s Blockchain

  • Over the past 29 weeks, the trend for WBTC’s average transaction value has been choppy and unclear. It has oscillated between 1.9732 and 20.2619.
  • WBTC’s count of active addresses now stands at 1590.
  • WBTC has a count of active addresses of 1590, down 5.86% from its value day prior.