What day of the week is best for trading Bitcoin

Jul 19, 2019 Forex News

Intraday cryptocurrency trading differs significantly from intraday forex trading. Unlike forex, cryptocurrencies are traded for 24 hours and seven days a week. However, Longhash analysts compared the data of the Coinbase exchange over the past two years and tried to find out on which day of the week it is best to trade Bitcoin.

Analysts analyzed all the highs and lows on the hourly Bitcoin chart for each day in two years. Then they compared each hour with the other 23 hours of each day. The diagram below shows the number of highs and lows of each hour over two years.

coinbase data.png

The diagram shows that the first two hours of the new day UTC (03: 00-04: 00 MSK) are the most volatile for Bitcoin. In particular, at 04:00 Moscow time, more daily highs and lows were observed than at any other time. This time coincides with the evening in North America and the beginning of a new working day in Asia. That is, there is an intersection of "trading sessions." Asian traders learn the news that happened overnight and react to it. And American traders are already reacting to the reaction of Asian traders.

However, the most volatile time is not the best time to trade Bitcoins. Analysts failed to identify when it is best to trade in Bitcoin. Within two years, it was easier to reach a minimum than a maximum. This can be attributed to the long-term bearish trend that we have observed over the past two years.

From this we can conclude that there are no better hours or days for trading Bitcoin, there are periods in the market for trading.

to other news

All news
BTC/USD price analysis, July 28

Despite the short-term effect of rumors that Amazon was going to accept Bitcoin this year and the subsequent pullback, the BTC/USD pair was able to find support in the area of $36500 and start a new rally. As a result, today the BTC/USD pair was able to rise

Mar 2, 2023 Forex Forecast

Changes to Commodities and Indices Trading on Independence Day

Dear clients, Please note that due to Independence Day celebrated in the USA on 4 July 2022 you may experience the following changes: Monday, July 4rdMetal CFDs: trading closes at 21:30. Indices CFDs: Europe 50 (#ESX50): trading closes at 23:00; France 40 (#FCHI): trading closes at 23:00;

Jul 1, 2022 Company News

On March 13th MetaTrader Switches to Summer Time (GMT+3)

On March 13th, 2022 TenkoFX will switch its trading servers 1 hour ahead, from GMT +2 to GMT +3. The change will affect all types of TenkoFX trading accounts. In ECN, STP accounts summer time will take effect starting with the market opening on Monday, March 14th, 2022. In Crypto

Mar 10, 2022 Company News

Changes to Trading Hours on US President’s Day (February 21)

Dear Clients, Please note that due to President’s Day in the US on February 21, 2021, trading hours for some financial instruments will be changed as follows: Spot commodities CFD:Gold (XAUUSD) - trading ends at 21:30;Silver (XAGUSD) - trading ends at 21:30;US Crude (XTIUSD)

Feb 14, 2022 Company News