Bitcoin Trading- BTC/USD Technical Analysis, Sept 21: Bitcoin hits $370, 30% off 200-day MA

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) approached new 2014 lows during the past 48h, bringing total losses to 20% since breaching the $460 support level.

Depending on the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, BTC technically set new 2014 lows, save for the flash crashes experienced in August and April.

BTC now trades at a 30% discount to the 200-day moving average, now worth $533. This is the greatest offset since flat trade in the low 400's immediately prior to the May rally, when the gap was as high as 35%. A move into the $360's may sever BTC's orbit to this mark and set off another wave of selling.

The $410-450 range was previously a stronghold of support and the last line of defense after the November 2013 multifold rally. Now broken, it is unknown where the next point of support will form.

The spread between BTC-e and Bitstamp has widened to $17 (4.25 %), well above typical levels but in line with a growing trend during declines.