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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BTC/USD has continued to face headwinds as the month of June gets ready to start, and traders are being confronted by rather steady bearish conditions.
Bitcoin continues to sit just above the 200 day EMA, as we are looking at the 40,000 level through the prism of resistance.
The Bitcoin market rallied a bit during the trading session, but still struggles to get above the $40,000 level.
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Volatility in Bitcoin remains extreme, which is what makes this asset class so striking.
The Bitcoin market went back and forth during the trading session on Tuesday as the market continues to hang around the 200-day EMA.
Bitcoin markets have bounced from the $30,000 level again during the day on Monday to show signs of stability again.
The Bitcoin market sold off rather drastically during the trading session again on Friday, although not as bad as it did on Thursday.
Bitcoin markets were a bit choppy during the trading session on Thursday as Janet Yellen suggested that perhaps more stringent IRS actions may be needed against crypto markets
Most of the move during the trading session on Wednesday was due to massive amounts of liquidation of levered positions in the Bitcoin market, as some traders had gotten far ahead of themselves.
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The Bitcoin market has found a little bit of selling yet again, so it looks like it will continue to go to the downside.
Bitcoin markets initially tried to rally on Monday but then found the $50,000 level to be a bit too much to overcome.
The bitcoin market has rallied slightly during the trading session on Friday, as buyers came in and defended the $50,000 level.
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Bitcoin markets got hammered during the trading session on Thursday as Elon Musk has reversed previous acceptance of Bitcoin as payment for Tesla automobiles.
Bitcoin markets initially tried to rally during the trading session on Wednesday but yet again found the market lackluster at best.
Bitcoin markets fell initially to kick off the Tuesday session, but as we have seen multiple times, buyers have come back in to pick up the market and go sideways in general.