Bitcoin Trading- BTC/USD Technical Analysis, Dec 2: BTC Rises Steadily Back to $380

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (BTC/USD) has risen gradually from $370 to $380 during the past 72 hours on BTC-e, bringing some stability after ending last week on a volatile ride.

It is BTC's flattest activity since late October and it may be a prelude to the next big move. However, for this to happen on the upside, BTC faces the daunting task of climbing out of the $380s, something it has not done in nearly three weeks.

If BTC can make any meaningful advance past the $380s, even temporarily, the mid-term picture would look a lot rosier. Such a move would signal a bottoming out of the mid $300s, with a critical point of reversal at $340. Around its peaks, the bottoming would be in the mid-$380s.

BTC's 50-day moving average (MA) has gotten a bit of a boost from the improved performance of late, rising slightly to $363. It had not risen since late July.

Volume is below average with 150 BTC currently crossing hands per hour.

Prices on BTC-e are on par with those on BTC-e's peers.