The requested URL /finance%3Fcid%3D181011799950968 was not found on this server.That’s all we know.Sign in to Your Account Sign In Email: Password: Sign in Forgot your password?Don't have an account?Create one and start trading in minutes.All it takes is a few simple steps.Last week’s article stated: “So far this has been a self fulfilling prophecy of bullishness as price has lifted with both volume and the OBV.The major problem however, is that while price has risen it has been rather modest on what is much higher than average volume for bitcoin compared to normal levels.At the same time the RSI is bullish, but reaching toward an oversold level, which it will certainly hit if we test resistance at US$255-$260 very soon.This will probably lead to a rejection of this area, and if this happens it will be time to determine if it’s a consolidation before a move higher or a bigger downside move.The Bollinger Bands remain tight so one should expect price movement and some volatility to come back into the price.

Obviously breaking through resistance would be bullish and could lead to a test of the US$300 area.As has been stated before: volume does precede price and the Bollinger Bands are confirming this.Expect a sharp move soon.” Well the sharp move came, and instead of rejecting resistance the price shot sharply above it to a high of around US$273.The RSI did get overbought and price sharply snapped back.It is now consolidating above the 200 day EMA, which it broke above in the latest rally.OBV continues to remain at elevated levels (see chart below), in fact it hasn’t been this high since October of 2014 when price was above US$440.A lot of this volume still appears to be wash trading, however as volume has picked up so has the price.The big problem here is that price is not reflecting this massive increase in volume as it has risen a mere US$30.The 50 and 100 day EMA’s have attempted a bullish crossover and thus far have been rejected.Then, after the recent price high of US$273 the next day’s price action formed a Bearish Engulfing Pattern, which generally leads to top in price.

Thus far price has been consolidating above the 200 day EMA (US$256), however after that bearish engulfing pattern its prudent to be cautious here.Not to mention the RSI remains near overbought levels even after the price drop.ethereum capacityThe MACD remains on a buy signal as well, but has not elevated like the other indicators.p2p bitcoin walletAlso, Buying Pressure remains high here.ethereum explorerAgain with all these indicators at such high levels it’s surprising the price hasn’t moved further.bitcoin wallet two factorThis is why there is the possibility of a Bull Trap forming in this this whole move.bitcoin millionaire play store

If price gets back above US$270 and takes out US$273, a run for the US$290-$300 area is the next target.This is major resistance and as has been stated many times: if price fails to break this area, expect major downside.bitcoin roi calculatorIt’s also possible that US$300 gets taken out and overshoots to the US$320-$330 level.This is a target that has to be taken out for a true bull run to start, which the price hasn’t yet been able to reach.. On the downside, if price drops below US$256 ( the 200 day EMA) look for support at US$247 and US$240.Username * First Name Last Name Email * Password * Repeat Password * You registration completed successfully.Buy gift cards with Bitcoin!Use Bitcoin to shop for hundreds of gift cards.We’re near the end of the week with the price of Bitcoins drastically different since our last update two days ago, a change reportedly once again due to Chinese exchanges, who after talks with the People’s Bank of China pulled the hand brake on Bitcoin sales.

While some correction was expected from the bearish wave that started forming on Wednesday, nobody really expected the price to take such a dive.Just like it has been for the past month or so, the Bitcoin world is again buzzing with talks of China’s role in the survival of the cryptocurrency.But while prior market panics have taken massive cuts to the value of Bitcoins, it now appears that those hits are becoming slower and smaller, once again giving some credibility to predictions that Bitcoin is moving from weaker to stronger hands.Right around the time news started spreading about new restrictions from China’s side, the Bitcoin price took a steep plunge from $1,053.49 to $935.19 in the course of only two hours.Since then it has been struggling to regain ground and find support at the $960 mark, with little hopes of topping $1,000, for now.The trading market is noting high interest, which is to be expected, with the current volume being $384,524,000.The market cap, on the other hand, has dropped significantly to $15.7 billion.

Judging from the present winds and high volume, any major price upticks are unlikely, for the time being.Our market analysis shows that sellers are holding a strong grip on the market, with all 12 moving averages and 7 out of 12 oscillators being in the sell zone.The SMA 100 is still safely above the SMA 200, hinting at an upward path, but the gap between the averages is narrowing, so don’t get your hopes up yet.However, short term analysis also shows a buyer pressure forming, with the RSI already hinting there is still some bullish pressure left.Right now, the market is predominantly pro-sell, hinting at further tests for the price, while the buyer pressure might be enough to keep it within the $960-970 range.As always, keep a close eye on any changes, especially in times like this, because if bears keep hitting the market, we might see another break below.The three biggest China BTC exchanges by volume have taken measures to stop Bitcoin withdrawals as a result of pressure and discussions coming from the People’s Bank of china.

OK coin, BTC China, and Huobi, all issued statements on Thursday, saying that the measures were introduced due to a request from the PBOC, and they will be dropped once updates to the exchanges’ compliance system kick in.Out of the three exchanges, only BTC China still allows withdrawals, but only with a 72-hour review process, while OKCoin and Huobi have completely suspended them.However, according to official statements from the exchanges, conversions of BTC to Yuan and back were not affected, only the withdrawals, since the PBOC’s main focus, as has been reported, was to curb capital flight.The reason for suspending their services, according to Bloomberg, was due to warnings from the PBOC that any Bitcoin exchanges who are found to violate the rules on managing foreign exchanges, payments, and money laundering, will be closed.Thus, the exchanges will be doing upgrades to their system, which are expected to last about a month for Huobi and OK Coin, while BTC hasn’t specified a time frame.