The Bitcoin markets have drifted a little bit lower during the trading session on Wednesday, as we have pulled back from the shooting star from the previous session.
Technical Analysis
The value of the Bitcoin (Symbol: XBT or BTC) fluctuates constantly and Bitcoin technical analysis is required in order to know when to buy and sell this currency. Several online currency exchanges are available where one can exchange dollars and other currencies for Bitcoins. .
The traders at DailyForex monitor the Bitcoin markets on an ongoing basis and provide you with Bitcoin forecasts (Mostly XBT/USD) that show you how to profit from this unique currency. Watch the gyrations of the Bitcoin based on Bitcoin technical analysis, global availability and government regulation in the Bitcoin market analysis below.
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The consolidated trading range experienced early last week for BTC/USD did not last long.
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The bitcoin market rallied significantly during the trading session on Monday to kick off the week, as we are well above the $11,000 level.
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The Bitcoin markets rallied a bit during the trading session on Friday, breaking above the 11,000 level.
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The price range for BTC/USD has remained within a fairly consolidated band the past week of trading.
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The markets in general have been relatively quiet during the trading session on Wednesday and Bitcoin of course was no different.
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The bitcoin markets have rallied a bit during the trading session on Monday to kick off the week, testing the 50 day EMA.
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Bitcoin markets initially tried to rally during the trading session on Thursday but continue to find the $11,000 level to be a bit too much to overcome.
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The Bitcoin market initially tried to rally during the trading session on Wednesday, but as you can see the $11,000 level continues to cause a lot of headaches for buyers.
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The Bitcoin market continues to oscillate in a relatively tight range, using the $11,000 level as resistance.
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The Bitcoin market has rallied a bit during the trading session on Thursday, reaching above the 50 day EMA.
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The Bitcoin market has fallen a bit during the trading session as we continue to see a lot of negativity.
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The bitcoin market has dipped slightly during the trading session on Tuesday, as we continue to see a lot of confusion.
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BTC/USD: $10k area may still be supportive
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Bitcoin initially tried to rally during the trading session on Monday, but then gave back the gains as there was so much strength in the US dollar.
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