Bitcoin Trading- BTC/USD Technical Analysis, Nov 18: BTC back to bearish ways
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 returned to its bearish ways since climbing back above $400 earlier this week. It has lost as much as 10% from this peak, currently trading at $373 on BTC-e.
$405 is shaping up as somewhat of a barrier to further sustainable advances. In terms of support, $365 is key if BTC doesn't want to complete the head and shoulders pattern.
Volume continues to be slightly above average, with about 500 BTC switching hands per hour.
BTC continues to hover about 3% higher than its 50-day moving average (MA), which has flattened around $360 since BTC's latest foray above the mark 10 days ago. This makes the low $360's an especially important support point. Should it be broken, a new stage of decline back into the low $300's is likely.
Prices on BTC-e are about $4 (1.1%) lower than on its peers.
Continuing rounds of investment in the crypto space, albeit occasionally not Bitcoin-centric, has not been strong enough to lift BTC past recent highs.
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 returned to its bearish ways since climbing back above $400 earlier this week. It has lost as much as 10% from this peak, currently trading at $373 on BTC-e.
$405 is shaping up as somewhat of a barrier to further sustainable advances. In terms of support, $365 is key if BTC doesn't want to complete the head and shoulders pattern.
Volume continues to be slightly above average, with about 500 BTC switching hands per hour.
BTC continues to hover about 3% higher than its 50-day moving average (MA), which has flattened around $360 since BTC's latest foray above the mark 10 days ago. This makes the low $360's an especially important support point. Should it be broken, a new stage of decline back into the low $300's is likely.
Prices on BTC-e are about $4 (1.1%) lower than on its peers.
Continuing rounds of investment in the crypto space, albeit occasionally not Bitcoin-centric, has not been strong enough to lift BTC past recent highs.