Trade.com, Trading212, HF Markets and More: Executive Moves of the Week

Bitcoin Trading – BTC/USD Technical Analysis, Jan 7: BTC Bounces Back above $280

by Leon Pick
    Bitcoin Trading – BTC/USD Technical Analysis, Jan 7: BTC Bounces Back above $280
    Join our Crypto Telegram channel

    Bitcoin (BTC/USD) had its first big bounce this year, climbing as high as $293 on BTC-e. Currently trading at $283, it is still down by over 10% for the year.

    Volume has tapered from that seen during the sell-off earlier this week, now averaging 300 BTC/hour. BTC has done a relatively good job of retracing its losses, getting back nearly 50%. This is in contrast to other recent drops where prices saw little or no retracement at all.

    The recent theft of $5 million worth of bitcoins from Bitstamp seems not to have unnerved traders into driving prices lower.

    Still, having crashed through its previous levels of support, the current upswing may only be a temporary bounce and further losses are possible. BTC would have to climb out of the $200s during the next 1-2 weeks in order to technically convince traders that a long-awaited bottoming process is in the making.

    The recent slump has sent bitcoin's market cap below $4 billion for the first time since early October as 14-month price lows have offset the increase in supply.

    Prices on BTC-e are about $3 (1.1%) below those on its peers, an average offset.

    Bitcoin (BTC/USD) had its first big bounce this year, climbing as high as $293 on BTC-e. Currently trading at $283, it is still down by over 10% for the year.

    Volume has tapered from that seen during the sell-off earlier this week, now averaging 300 BTC/hour. BTC has done a relatively good job of retracing its losses, getting back nearly 50%. This is in contrast to other recent drops where prices saw little or no retracement at all.

    The recent theft of $5 million worth of bitcoins from Bitstamp seems not to have unnerved traders into driving prices lower.

    Still, having crashed through its previous levels of support, the current upswing may only be a temporary bounce and further losses are possible. BTC would have to climb out of the $200s during the next 1-2 weeks in order to technically convince traders that a long-awaited bottoming process is in the making.

    The recent slump has sent bitcoin's market cap below $4 billion for the first time since early October as 14-month price lows have offset the increase in supply.

    Prices on BTC-e are about $3 (1.1%) below those on its peers, an average offset.

    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}