Bitcoin Trading- BTC/USD Technical Analysis, Nov 12: BTC rises again, tops $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) is rising again today, jumping by over 4% ten hours ago to as high as $384 on BTC-e. This is BTC's highest point in three weeks.
It is has also been a difficult point to navigate. During those highs three weeks ago, BTC could not muster enough momentum to climb out of the $380's and proceeded back down a slippery slope into the low$300's. Since bottoming at $318, BTC has rallied by 20%.
The pair is currently trading at $381.
The $380 mark will be an especially formidable challenge based on BTC's pattern of retracing no more than 70% during its 4-month slide. Something has to give in order for the latest mini-rally to signal that a true bottoming has occurred and genuine recovery is in the works.
While still way off its 200-day moving average (MA), today's advance brings it comfortably above the 50-day MA, which is starting to stabilize around $360.
Prices on BTC-e are about $2.20 (0.57%) off from those on its peers.
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) is rising again today, jumping by over 4% ten hours ago to as high as $384 on BTC-e. This is BTC's highest point in three weeks.
It is has also been a difficult point to navigate. During those highs three weeks ago, BTC could not muster enough momentum to climb out of the $380's and proceeded back down a slippery slope into the low$300's. Since bottoming at $318, BTC has rallied by 20%.
The pair is currently trading at $381.
The $380 mark will be an especially formidable challenge based on BTC's pattern of retracing no more than 70% during its 4-month slide. Something has to give in order for the latest mini-rally to signal that a true bottoming has occurred and genuine recovery is in the works.
While still way off its 200-day moving average (MA), today's advance brings it comfortably above the 50-day MA, which is starting to stabilize around $360.
Prices on BTC-e are about $2.20 (0.57%) off from those on its peers.