Might be a break of good support here, will be a very quick break out trade, next support level around 216-217. With % SMA as the stop, it will be a good risk/reward ratio. Got to hit the low before hitting the high
The decision of Bitfinex, Kraken and many other Bitcoins startup, to leave New York because of BitLicense has resulted in a negative sentiment among the market participants which prompted a bearish move on Saturday with comparably low volumes. This move as shown in the hourly chart, was opposed by heavy support at 261. The lower Bollinger band flattened at this...
In the daily chart, the market has rallied considerably from 217.26 in June to 317.50 in July and now is in a state of correction for the move. The region between 250-255 has daily 100 and 200 SMA’s and it also backed by 34 SMA and Middle Bollinger band from weekly chart, hence it can be regarded as Zone of Heavy Support. A crucial aspect which might indicate a...
On a weekly scale, the market has been in a bearish trend for a long time before finding some support at the start of this year. From then on it has been predominantly sideways with choppy moves from 200-300. The market is moving in mini-swings as indicated by the regression lines in the weekly chart. For the bearish part of the swing, 5 SMA has been a hard...
Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto satoshin@gmx.com www.bitcoin.org Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a...