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 Bitcoin market has reached towards the $43,000 level on Thursday, as we have broken down rather significantly.
Bitcoin rallied a bit on Tuesday as we continue to use the 200-day EMA as a bit of a magnet for price.
Bitcoin initially tried to rally on Monday, but as you can see, we continue to see resistance just above.
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The Bitcoin market did very little on Wednesday as we continue to hang about the 200 day EMA.
Bitcoin fell a bit on Tuesday, pulling back from the $51,000 level.
Bitcoin initially dipped lower on Monday to reach below the $50,000 level but turned around to show signs of life and break above the $51,000 level.
If you have been following me here at DailyForex as of late, you know the thing that I wanted to see was Bitcoin taking out the $51,000 level.
Bitcoin markets dropped a bit to kick off the trading session on Thursday, but then turned around to recover all of those losses.
The Bitcoin market initially tried to rally on Wednesday but gave back the gains a bit.
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The Bitcoin market bounced significantly on Tuesday as we have used the 200-day EMA as support again.
The Bitcoin market rallied initially on Monday, but then turned around to show signs of weakness.
Bitcoin markets fell a bit on Friday but found enough support just above the 40,000 level to turn around and sit right at the 200 day EMA.
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The Bitcoin market has fallen just a bit during the trading session on Thursday as we continue to trade back and forth overall.
Bitcoin markets bounced a bit from the 200-day EMA to show signs of stability, which is exactly what we need at this point.
The Bitcoin market initially poked above the $50,000 level to kick off Monday, but then got hammered to reach down towards the 200-day EMA.