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 has plunged to kick off the trading week on Monday, but it looks like we are getting a little bit of a bounce in the early hours of American trading.
It's easy to see that we have been chopping back and forth over the last several sessions.
The first thing that I notice is that we have broken above the top of a couple of daily candlesticks from last week.
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Bitcoin had an explosive move to the upside during the trading session on Friday.
In my daily Bitcoin analysis, I have to admit that I am focusing on the $67,000 level, an area that's been important more than once.
I am recognizing that we are very close to some type of major break out.
The Bitcoin market has struggled on Wednesday to maintain any type of momentum.
The bitcoin market initially fell during the trading session on Tuesday.
I can see that we still have no idea what to do with this so-called asset at this point in time.
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It’s hard not to notice that the same area has been offering support over the last several days.
Bitcoin initially plunged during the trading session on Friday, breaking well below the $56,500 level, which was where we had the significant pullback to.
Bitcoin has fallen a bit against the US dollar during the trading session on Thursday as we continue to see a lot of negativity.
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I recognize that bitcoin has been building up a bit of support just above the $60,000 level.
In today’s BTC/USD forecast I see price as basically consolidating, perhaps trying to find a floor ahead of a major announcement.
Bitcoin has been all over the place during the trading session on Wednesday, as we are trying to determine whether or not the market did successfully support the $60,000 level.