3 reasons why BTC will unlikely trade below $50,000 in the near term
BTC held the $50,000 support while derivatives indicators remained healthy, signaling investors' optimism. Bitcoin (BTC) is showing tenacity above $50,000 on March 25. The 10% drop over the last 24 hours happened despite Tesla allowing customers to buy vehicles using BTC in addition to CEO Elon Musk affirming that it will not be converted to fiat currency.On March 22, the United States Federal Reserve chair, Jerome Powell, stated that Bitcoin was too volatile, "backed by nothing," and more of an asset for speculation. Curiously, on that same day, BTC lost its $56,000 support, which became....
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Here's what we are watching in the bitcoin price for the Wednesday evening session... Here's what we are watching in the bitcoin price for the Wednesday evening session... We’re heading towards the close of another European day in the bitcoin space, and things have been pretty uninspiring during the day’s session. Having remained relatively flat throughout the evening last night, we hoped we’d see some volatility throughout Europe and the US morning for a couple of reasons. The first, that we had an as yet incomplete trade running from yesterday evening – a long trade towards 426 that we....
In these bitcoin price watch pieces, it's not uncommon for us to trade a relatively tight range. Over the last week or so, however, we had quite a lot of volatility in the bitcoin price, and it has afforded us the opportunity to widen out our parameters a little bit and try out some intra-range trading. We did this overnight in the Asian session on Thursday, and as we head into a fresh European session today, let's try something similar. So, with this said, what are the levels that we are going to keep an eye on today, and how we going to look to trade bitcoin price as we head into the....
As a general rule, once we get into a trade in the Bitcoin markets-and according to our intraday strategy-we don't get into another before the markets take us out automatically (either via a stop hit or a target hit). As such, and as we head into this evening's Asian session, we are not going to be taking a position, because we got into a long trade on the breaking of in term resistance a little earlier. With that said, this analysis isn't just for us-its for our readers, as well-and for those who aren't yet in a trade, here are the levels to keep an eye in in the Bitcoin price this....
Here's what we are focusing on in the bitcoin price this afternoon, and beyond that, into the Asian session tonight. We’ve had another busy day in our bitcoin price strategy operations on Tuesday, and with any luck, the volatility that we saw as part of today’s action will continue into this evening’s session. To kick off the analysis this afternoon, take a look at the chart below – it’s the first of two for tonight’s release. As the chart shows, a break of in term resistance earlier on this afternoon put us in a long position towards our predefined upside target, and as things stand, we....
Dear trader, First, I would like to wish you a great year in 2015 and all the personal and professional success that you deserve. I also wish that this new series of articles will allow you to trade as best as possible this year. This new year starts off in a very complicated way. The price of Bitcoin is extremely low, and the recent Bitstamp hack (2nd exchange platform in terms of dollar volume) will not boost confidence in crypto currencies. 2014 has been a very difficult year for those who hold Bitcoins for long term reasons, but, nonetheless, numerous and promising evolutions have come....