Bitcoin Trading- BTC/USD Technical Analysis, Nov 24: BTC bounces back, challenging $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 mounted a bit of a comeback during the past 24h, gaining 8.6% to $380 on BTC-e. Since bottoming below $340 late last week, BTC has recovered by nearly 12%.
The current peak challenges BTC's highest points since 4 days ago, when it tried, unsuccessfully, to rally past $385.
It can be said that the mini-rally was unexpected, with yesterday's analysis projecting the completion of a head-and-shoulders pattern back below $350.
Volume has been average for recent times, 200-300 BTC per hour. The consistent volumes, combined with the average rise, at least indicate that a sudden drop in prices will not happen during the coming hours of trade.
Today's rise means that BTC is back above its 50-day moving average (MA), its second time crossing the mark this month. Flat at $360, the MA had been a key support level, which was technically broken last week. In re-crossing the barrier, BTC's next big move is uncertain.
On BTC-e, prices are about $4 (1.1%) off relative to 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) has mounted a bit of a comeback during the past 24h, gaining 8.6% to $380 on BTC-e. Since bottoming below $340 late last week, BTC has recovered by nearly 12%.
The current peak challenges BTC's highest points since 4 days ago, when it tried, unsuccessfully, to rally past $385.
It can be said that the mini-rally was unexpected, with yesterday's analysis projecting the completion of a head-and-shoulders pattern back below $350.
Volume has been average for recent times, 200-300 BTC per hour. The consistent volumes, combined with the average rise, at least indicate that a sudden drop in prices will not happen during the coming hours of trade.
Today's rise means that BTC is back above its 50-day moving average (MA), its second time crossing the mark this month. Flat at $360, the MA had been a key support level, which was technically broken last week. In re-crossing the barrier, BTC's next big move is uncertain.
On BTC-e, prices are about $4 (1.1%) off relative to peers.