What to know:

• The BTCUSD pair on Coinbase has recorded fourteen consecutive positive hourly candles.
• This trend spanned from January 9 at 21:00 UTC to January 10 at 11:00 UTC.

Overview:

During European trading hours, many market observers noted the unusual price movements of Bitcoin (BTC), witnessing a unique pattern on the candlestick charts for the BTCUSD pair on Coinbase. The prices showed an impressive uptick across fourteen consecutive hours, signifying a period of gains.

Price Movement:

The hourly candles depict that the price has risen from $91,771 to $95,283 during this streak. Starting on January 9 at 21:00 UTC, the trend continued until 10:00 UTC on January 10.

This distinctive upward trend has caught the attention of traders, sparking discussions and confusion regarding the longevity of a positive price trajectory.

Vetle Lunde from K33 Research pointed out that this marks the longest series of hourly green candles since at least January 1, 2017, when similar activity was recorded with eleven consecutive positive candles. Previous occurrences of double-digit hourly gains were observed on January 14, 2023, February 26, 2024, and November 12, 2024, each also culminating in eleven positive hours.

As of now, the fifteenth hourly candle shows red, indicating a possible end to this exceptional series and is expected to conclude at 12:00 UTC.