If you look at the candlesticks chart for BTCUSD pair on Coinbase, you would see fourteen green hourly candles, which means in the last 14 hours bitcoin
Bitcoin (BTC) price action had many traders scratching their heads during European hours on Friday, and for good reason.
If you pull up the candlesticks chart for the BTCUSD pair on Coinbase, you will see fourteen green hourly candles, indicating that bitcoin price has risen in each of the past 14 hours.
The hourly candles come as BTC price has rallied from $91,771 to $95,283. The trend began on Jan. 9 at 21:00 UTC and has continued until 10:00 UTC on Jan. 10.
This unusual price chart has left traders onをめ.
Vetle Lunde, a senior analyst at K33 Research, has compiled data points on the last time this occurred. This is now the longest hourly green candle streak since at least January 1, 2017, when it managed 11.
However, this is not the first time we've seen double-digit hourly green candles in recent memory. Bitcoin charts also showed similar patterns on Jan. 14, 2023 (11), Feb. 26, 2024 (11) and Nov. 12, 2024 (11).
The fifteenth hourly candle is currently red, potentially ending this trend and set to close at 12:00 UTC.
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