Bitcoin Price Gets Back in the Black for 2017 After 5% Spike

Bitcoin Price Gets Back in the Black for 2017 After 5% Spike

You can’t keep a good decentralized, peer-to-peer, global digital currency down. After a turbulent first month of 2017, Bitcoin closes January strong and gets back to a net gain for the month. Bitcoin Price Pares 2017 Losses. Bitcoin price always seems to struggle at the start of any calendar year, and January of 2017 was no different. Bitcoin had threatened the all-time price record during the first week of 2017, reaching a high of $1,153 USD on the 5th. However, over the next 48 hours, the price bubble bursts, and Bitcoin lost over 25% of its value. Just one week after its 2017 peak,....


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Bitcoin Price Back To Sideways

Bitcoin price broke above its narrow 4-day trading range, but may soon re-enter the horizontal layer that has been constraining market activity. Although it looked like the wave would push toward $440 in SUnday’s low liquidity, the wave has been declining piece-meal since the high at $428. In keeping with the jagged price patterns visible in the chart, we can expect that the spike up will eventually be fully retraced, or perhaps continue lower. The vicinity of the 200-period moving average (red) seems a logical target, below which we’d look to short. Staying above means ongoing....