The Bitcoin markets broke down significantly during the trading session on Wednesday as we have reached down towards a pretty significant support level.
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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Bitcoin markets fell again during the trading session on Tuesday as we have seen a little bit of comfort come into the stock markets and risk appetite in general.
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The Bitcoin market pulled back from the psychologically important $12,000 handle to kick off the week on Monday, showing just how important and how difficult the $12,000 level is going to be.
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Bitcoin has had a bit of a slow day on Thursday, originally try to break above the $12,000 level but could not hang onto enough momentum to do so.
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Bitcoin markets went back and forth during the trading session on Wednesday, as we continue to test a major level.
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Bitcoin rallied significantly during the trading session on Monday to kick off the week, gaining over 10%.
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Bitcoin markets rallied during the trading session on Wednesday, showing signs of support at the uptrend line just below.
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Bitcoin markets went back and forth during the trading session on Monday, testing the uptrend line that is clearly marked on the chart.
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Bitcoin has tried to find support during the trading session on Wednesday, reaching down towards the 50 day EMA, as it is sitting right at the uptrend line as well.
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The bitcoin market drifted a bit lower during the trading session on Tuesday, looking very likely to try to find support underneath.
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Bitcoin initially tried to rally during the trading session on Monday, but then rolled over to show signs of weakness again.
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The Bitcoin market pulled back a bit during the trading session on Friday, reaching towards the $10,000 level.
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Bitcoin markets rallied as expected during trading on Thursday, after forming a very neutral and supportive looking candle stick on Wednesday.
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Bitcoin markets fell initially during the trading session on Wednesday, breaking down below the 50 day EMA, an area that a lot of technical traders will pay attention to.
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Bitcoin saw more selling pressure on Tuesday, breaking below the $10,000 level.
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