Bitcoin Price Analysis (Week of June 12th)
Welcome to the all new CoinTelegraph Weekly Market TA Report presented by BullBear Analytics. The timing of this new partnership could not have been any better given that it appears as though bitcoin is on the cusp of challenging price levels not seen in more than two years. While the trek up to the psychologically important $1000 mark will remain volatile, this will pale in comparison to the moves we will see if the ATH’s above $1200 are broken. That said, there remain some significant areas of resistance between current levels and 1K so we would steer clear of FOMOing into the market on....
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Bitcoiners got to enjoy some exciting market activity this week, with the Bitcoin price rising to levels that have not been seen in several months. Towards the end of the week, the price broke into the $270s, but quickly settled down into the low $260s, which some people hope will be a new bottom. This week began on Monday, October 12 with the Bitcoin price sitting at $247.83, staying within the range that persisted for much of last week. The 12th ended up being a bearish day overall, with a small decline in the morning, followed by another decline late at night. Monday closed in the low....
The current Bitcoin price correction, since the 30 June high around $265 and 1665 CNY, has been tracing a path similar to the previous 17-25 June correction. Should the market take this pattern to its logical conclusion, we can expect another advancing wave and for trade to take price to a new high. However, alternate scenarios may be introduced by developments in Greece, this weekend, and technical analysis looks for the pivotal price levels traders should look out for. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and....
12 years ago, Bitcoin’s inventor Satoshi Nakamoto launched the network after revealing the cryptocurrency concept via the white paper a few months prior. At approximately 18:15:05 UTC, the network launched its first block and since then, over 664,000 bitcoin blocks have been mined. Moreover, on the 12th anniversary of the network coming to life, a large string of 2010 block rewards started moving after more than ten years of sitting idle. The 12th Anniversary of the Bitcoin Blockchain Cryptocurrency proponents are celebrating the invocation of the first computational network to solve....
BTC price at press time: US$249.45. Last week’s price alert began with: “Thus far things seem different. The one thing that continues to make me weary is the lack of volume. If we are going to have a truly sustainable advance, volume needs to pick up and price needs to burst through big resistance at the 200-day Moving Average at ~US$258. As long as price remains above the 50-day, a neutral to bullish stance should be taken.” The price reached a high of ~US$252 and has now come down to ~US$249 and thus far the price has been consolidating above these two moving averages, which it has been....
The price of bitcoin on the CoinDesk US Bitcoin Price Index (BPI) declined on 12th June to a low of $568.87 after reaching a high of $634.38. The dramatic price swing, however, was followed by a slight recovery to $582.29 at press time. The price decline began at 13:00 (UTC) before accelerating sharply at 19:00, dropping from $616 to the day's low. However, by 22:30, USD bitcoin prices rallied to $592.77 before declining again to press time levels. The decline coincided with the US Marshall Service's announcement it will beinitiating an auction of 30,000 BTC confiscated from the infamous....