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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Disappointing Trading Month as Reversal Lower Occurs
The Bitcoin market rallied just a bit on Wednesday but gave back the gains to drift towards the $41,300 level again.
Bitcoin markets initially tried to rally on Tuesday but then gave back gains yet again to show signs of exhaustion.
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Bitcoin markets have gone back and forth during the trading session yet again on Monday, as we continue to see a lot of noisy and choppy behavior.
Bitcoin markets crashed again on Friday to reach down towards the recent consolidation area yet again.
The bitcoin market has rallied ever so slightly during the trading session on Thursday as we continue to see the market try to find its footing.
BTC/USD is near short-term highs but continues to traverse within what has become a cautious range as incremental decreases have dominated recent trading.
Bitcoin fell towards the $40,000 level on Wednesday but as you can see, has turned around quite significantly.
The Bitcoin market fell on Tuesday to reach down towards the crucial $40,000 level.
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The Bitcoin market has initially rallied during the course of the trading session on Monday but gave back quite a bit of momentum just below the $49,000 level.
The Bitcoin market initially tried to rally on Friday but gave back early gains to form a shooting star.
The Bitcoin has rallied ever so slightly to reach towards the $50,000 level but is clearly running out of some of the momentum seen over the last couple of days.
Bitcoin has rallied again during the trading session on Wednesday, to show signs of recovery yet again.
The Bitcoin market rallied a bit on Tuesday to show continued respect for the 50-day EMA which sits just below.
The Bitcoin market initially rallied on Monday but gave back a lot of the gains to form an inverted hammer, which is a potentially negative sign.