Bitcoin Trading- BTC/USD Technical Analysis, Nov 25: BTC facing uphill battle in $380's
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 had a tough time navigating the $380's, falling hard to $375 earlier today after just barely making it to $389. After a slight bounce, BTC has now broken the low to $373 and looks poised to fall back below $370.
BTC still remains safely above its 50-day moving average (MA), still at $360. But hopes of breaking through the tougher barriers and establishing stable footing have not yet materialized.
Zooming out to a long-term view, one observes the uncertainty as to BTC's next major move. Its latest peak ($450) in mid-November exceeds that of the previous month. Similarly with its lows, which have come in successively higher during the past three months. But the $450 peak seemed artificial, and the latest 4-day rally appears to be running out of gas, suggesting a possible end to the pattern.
Prices on BTC-e are about $4 (1.1%) lower than other exchanges.
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 had a tough time navigating the $380's, falling hard to $375 earlier today after just barely making it to $389. After a slight bounce, BTC has now broken the low to $373 and looks poised to fall back below $370.
BTC still remains safely above its 50-day moving average (MA), still at $360. But hopes of breaking through the tougher barriers and establishing stable footing have not yet materialized.
Zooming out to a long-term view, one observes the uncertainty as to BTC's next major move. Its latest peak ($450) in mid-November exceeds that of the previous month. Similarly with its lows, which have come in successively higher during the past three months. But the $450 peak seemed artificial, and the latest 4-day rally appears to be running out of gas, suggesting a possible end to the pattern.
Prices on BTC-e are about $4 (1.1%) lower than other exchanges.