Bitcoin Trading- BTC/USD Technical Analysis, Sept 10: BTC jumps 3%

Bitcoin volumes have picked up slightly and the price just jumped by 3% in 3 hours, 5% in the last

Bitcoin volumes have picked up slightly and the price just jumped by 3% in 3 hours, 5% in the last 12. BTC is now trading at $477 after coming off a high of $484.

The $460 mark is shaping up as a dependable short-term support level. Prices have not submerged below $459 since August 20, a period of lingering volatility following the flash crash on BTC-e. Since then, prices have been repelled by this level on multiple occasions.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

However, there is equally formidable resistance from the top end. With the exception of a brief volume-induced spike heading into this past weekend, BTC is having a tough time climbing above $485 in the short term.

Suggested articles

What to Look for in a Forex Technology Provider?Go to article >>

The combination of today’s rise and the overall downward trend from the past 2 months places BTC back within 10.5% of its 200-day moving average- the closest it has gotten, percentage-wise, in two weeks.

BTC-USD, Sept 10

The price gap between Bitstamp and BTC-e has found its way back to previous levels. BTC is now $7 (1.5%) higher on Bitstamp and other exchanges. Prices varied by as much as $9 (1.9%) as the market climbed during the past few hours. Earlier this week, their roles were uncharacteristically reversed as prices on Bitatamp were 0.5% lower for a lengthy stretch.

Got a news tip? Let Us Know