Bitcoin Trading- BTC/USD Technical Analysis, Nov 6: BTC unexpectedly breaks $338, hits 1-week high
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) unexpectedly overcame the $338 resistance point, rising minutes ago to $347 on BTC-e. This is BTC's highest traded price in a week. It can double that feat if it continues its mini-streak to above $352, a high set two weeks ago that faded rather quickly.
Since bottoming at $318 two days ago, BTC has sprung back to life, gaining 9%.
Should it rise further in the short-term, there is no shortage of additional resistance points along the way. These have accumulated in a lengthy 2-month decline marred by rallies that fizzled earlier than expected, planting doubt in investors' minds if/when the long awaited recovery will arrive.
Should it make it there, the most difficult corridor to navigate will be around $385, tested repeatedly 2.5 weeks ago to no avail. Thereafter, BTC set out on its latest leg of decline, losing over 10%.
Prices on BTC-e are their average of 1.3% ($4.50) lower relative to 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) unexpectedly overcame the $338 resistance point, rising minutes ago to $347 on BTC-e. This is BTC's highest traded price in a week. It can double that feat if it continues its mini-streak to above $352, a high set two weeks ago that faded rather quickly.
Since bottoming at $318 two days ago, BTC has sprung back to life, gaining 9%.
Should it rise further in the short-term, there is no shortage of additional resistance points along the way. These have accumulated in a lengthy 2-month decline marred by rallies that fizzled earlier than expected, planting doubt in investors' minds if/when the long awaited recovery will arrive.
Should it make it there, the most difficult corridor to navigate will be around $385, tested repeatedly 2.5 weeks ago to no avail. Thereafter, BTC set out on its latest leg of decline, losing over 10%.
Prices on BTC-e are their average of 1.3% ($4.50) lower relative to its peers.