Mt. Gox Weekend Trade: News, Analysis
At 07h00 UTC Mt. Gox BTCUSD price skirted below $100 once more, continuing the relentless decline since the break of $250 on Thursday. Volatility is increasing as traders take advantage of low weekend liquidity to chase price for profits. Questions about where this crash is going to find a bottom abound, since a rout in Mt. Gox's exchange price negatively affects other exchange prices. At the time of writing, there are no reports of specific events that may be leading this decline and the only reasonable conclusion is that negative expectations for next week may be the cause. Update 12h58....
Related News
Bitcoin price has been holding above the 1-hour 200MA in some charts, and crisscrossing it in others. Common to all exchange charts is the support zone around $240 and 1500CNY. The market may trade price into advance or it may choose the low road. We look for the critical levels to trade from. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 17h00 UTC. Bitstamp 1-Hour Chart. From the analysis pages of xbt.social, at 04h00 UTC today:....
During weekend trade price returned to the level where this wave originated from at $218 and 1340 CNY. Sunday trade has seen price systematically approach the support floor at $210. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 16h19 UTC. Bitfinex 1-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: The conditions of our long trade were never fulfilled as price fell....
Here's what we are looking at as we head into the weekend in the bitcoin price market. Its that time again, the end of the week, and time to put forward the framework with which we are going to approach the weekend in the bitcoin price. Things have been relatively inactive to day so far, but we did get in a short trade on a break of support a little earlier on this afternoon. Unfortunately, the trade didn’t work out, and price returned to trade within range shortly after we entered the position and – in doing so – took us out for a stop loss hit. As we mentioned this morning, however, the....
Here's what we are looking to trade in this evening's bitcoin price on Friday. In this morning’s bitcoin price watch analysis, we suggested that we would like to see three things this by afternoon. First, a successful completion of our ongoing long trade. Second, a breakout on which we could get into a position, with the assumption being that this would be a long position and an upside break, if we were also going to fulfill item one. Third, a sustained move I the direction of our entry that would see us hit our target, and take us out of the trade for a profit as we headed into the....
Here’s what we are focusing on for this morning’s session in the bitcoin price. Well, we have come to the end of the week in the bitcoin price, and it’s time for our penultimate price watch analysis. It’s Friday morning, and a look back at action across the week so far shows a pretty flat few days, with intermittent spikes of volatility, but nothing to write home about. With any luck, as we head into this weekend, there will be some sustained momentum that we can get on the back of and ride out to a profit. This isn’t guaranteed, but those who have followed our analysis across the last few....