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 fell initially against the US dollar on Tuesday but turned around to form a bit of a hammer.
The bitcoin markets fell significantly on Monday again, losing 3%. Bitcoin also fell against the Japanese yen as you can see, using the ¥850,000 level as resistance.
Bitcoin rallied slightly during the trading session on Friday, only to turn around and form a shooting star for the day.
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Bitcoin rallied again during the day on Friday, after initially pulling back on Thursday.
Bitcoin markets fell again during the trading session on Wednesday, as we continue to see more of the same downward pressure that we have seen for some time.
Bitcoin rallied a bit during the day on Tuesday as traders in the United States came back from the Memorial Day celebration.
Bitcoin fell slightly during the trading session on Monday, but keep in mind that the Americans were away for the Memorial Day holiday.
Bitcoin fell again during the session on Friday as we continue to see weakness in the crypto currency markets.
Bitcoin bounced around during the trading session on Thursday, as we are below the $8000 level rather solidly.
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Bitcoin markets fell again on Wednesday, crashing through the $8000 support level.
Bitcoin fell again against the US dollar, losing over 2% during trading on Tuesday.
Bitcoin tried to rally on Monday against the US dollar but then fell towards the $8350 level.
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Bitcoin fell against the US dollar during the session on Thursday, reaching down to the bottom of the hammer from the previous session.
The bitcoin markets were choppy during trading on Wednesday, breaking below the $8400 level, reaching down to the $8100 level after that, bouncing again towards $8400, and then breaking back down before bouncing at the end of the day.