The LTB Network Forum

Cryptocurrency Analytics from FXOpen. 03/02/2015

Back to Market Speculation

Comments

andref

Offline
Posts: 2708
Location: in sistem

Everyone’s favorite cryptocurrency hit new multi-day highs at $240.44 today. This is above the previous BTC swing high reached on January 30th at $234.99. Other altcoins followed suit but many were unable to break higher and remain locked in a range. But despite the bitcoin’s gains today, the $300 round figure continues to be key in the battle to generate a new rally.

Bitcoin Hits $240 but Key $300 figure Far Off

After peaking at $240.44 today, BTC/USD fell back and is currently quoted at $236.48. The lack of follow-through after the break of $235 should worry the bulls. We already saw one failed attempt to break out of the range on the low side. Two days ago BTC fell to a low of $208, below the previous swing at $212. But prices quickly reversed to close slightly up on the day at $225. Today that move up continued to $240. There is a chance that the bulls may get trapped in a similar manner as the bears did below $212.

Read more https://blog.fxopen.com/bitcoin-hits-multiday-highs-but-300-remains-key/

Posted on February 3, 2015 at 6:34 AM
Last Edited: February 3, 2015 at 6:35 AM

0 likes

• ikidesu

  

  Offline
  Posts: 625

  Whether because more Cloud Mining Service down, and impact to BTC price?

  Posted on February 3, 2015 at 11:04 AM
  Permalink
  1 like
• franckuestein

  

  Offline
  Posts: 185
  Location: Unknown

  After the last dump to ~165$/BTC some weeks ago, do you think that we're going to hit that values another time and then recover... or if it falls down we're going to see low rates at least until ~80$/BTC.

  I'm just asking this because when people panic, traders always say that the lower bottom could be in a strong buy-support zone like from 80 to 120$/BTC approximately.

  Thanks!

  Posted on February 3, 2015 at 4:14 PM
  Last Edited: February 3, 2015 at 4:15 PM
  Permalink
  1 like
• andref

  

  Offline
  Posts: 2708
  Location: in sistem

  While below 250/270 downtrend prevails

  

  option 1

  option 2

  Morning(08-00 GCM) Support broken 1H (The trend is for option 1)

  Posted on February 3, 2015 at 11:18 PM
  Last Edited: February 3, 2015 at 11:25 PM
  Permalink
  0 likes
• LiteCoinGeorge

  

  Offline
  Posts: 1

  @andref While below 250/270 downtrend prevails

  option 1

  option 2

  Morning(08-00 GCM) Support broken 1H (The trend is for option 1)

  are you in Mlmcrypto group ? i dont trust a word you say ! https://letstalkbitcoin.com/forum/post/mlmcrypto-is-a-jack-ass burn !

  Posted on February 4, 2015 at 2:12 AM
  Permalink
  0 likes

Post Reply