Key Bitcoin Price Levels and Trading Update for Week 2 (5 - 12 Jan) of 2014
Bitcoin price has broken the key psychological level of $1000 on Mt. Gox and pushed above $900 on Bitstamp. The Bitcoin price is exploding right now! Possible reasons for the push are mentioned elsewhere on CCN. As can be seen above on the daily chart, a long green candle is forming on the 5th day of consecutive gains. This is good news for all of us with long positions. I added the final portion to my long position on Friday the 3rd as the Bitcoin price cleared the key $800 Support / Resistance level. As price has also blasted through the 76.4% Fibonacci line (dark blue), I see no obvious....
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Bitcoin continued to decline from the $240s earlier this week, hitting a floor at around $220. The price is currently retesting new levels between $220 and $230, but that seems to be a losing battle with the price still trending downwards. Volume has also been quite low this week, reaching slightly over $15 million for today’s 24 hour trading volume. This is a continuation of last week’s trading patterns. Devaluation was only slight this week, with only a 5.7% decrease in price over the last seven days. If current patterns continue with sideways movement followed by decreasing price, we....
The bitcoin price has been in the doldrums in the last week, closing out a month of persistent losses. It's now trading at the lowest levels of the year. Bitcoin opened the week at $330.67 and closed at $316.80, according to the CoinDesk Bitcoin Price Index. That represented a loss of $13.87 in the bitcoin price over the last seven days, or 4.2%. Over the week, the price hit a high of $335.88 on the 23rd December, only to fall to a low of $312.40 four days later. That was a drop of some $23. The bitcoin price has not been kind to bulls this month. While it was trading in the high-$300s -....
Digital currency markets have seen some decent gains this week, as the overall market valuation of all 7,000+ crypto assets is hovering above the $446 billion mark. Traders also watched the price of bitcoin jump above the $16k zone on Thursday for the first time since 2018. Bitcoin and a number of other crypto-assets have been climbing northbound in price on Thursday, November 12, 2020. At the time of publication, the entire crypto-economy is up over 2% and valued at $446 billion today. During the early morning trading sessions on Thursday, bitcoin (BTC) touched a high of $16,177 on....
Here's a look at what we are focusing on in the bitcoin price this morning. So at the end of last week, our primary focus was the volatility that we had seen in the bitcoin price across the previous few days. Basically, last week started out relatively flat, but then over the middle of the week, price took a dive, and closed out trading somewhere in the region of the high 900’s. We weren’t sure whether price which remain there, and that the level would hold out as support, but we set up some levels heading into the weekend anyway, and crossed our fingers. As it turns out, price did dip a....
Here's a look at what we are focusing on in the bitcoin price this evening. So here goes, our final bitcoin price analysis of the week. It has been a pretty busy week, as we noted earlier today, and one that will likely end up influencing our trading for weeks to come. Why? Because action has been so volatile that it has carved out numerous key levels, and we can use these key levels to carry forward into our trading throughout the remainder of January. Exactly which of them will become effective remains to be seen, but no doubt some of them will, and when they do, we will be ready to take....