Bitcoin Bounces at Double Bottom After Crash

Want to Trade Bitcoin? ForexNews RecommmendsPlus500Click Here To Learn More.

Bitcoin bounced near the lows marked by a previous double bottom formation. In the aftermath of yesterday’s crash on OKCoin prices stabilized somewhat but only after they hit $214.49, surprisingly close to the double bottom at $214 dollars per coin. Last night BTC-E only traded down to $220 but today, not to be undone, the exchange tested its own double bottom at $210. In another leg down, a low of $211.05 was reached just hours ago, just 19 cents above the $210.86 formation low. We have since bounced back somewhat with BTC/USD quoting $223.90 right now.


On OKCoin we also had another bout of selling tonight but prices never got as low as they did yesterday. The low today stands at $221.33, above the $214.49 mark hit yesterday. We are currently trading at $229 on this exchange. Chinese exchanges continue to hold onto the post-PBOC intervention gains and have even expanded the premium from $6 to $8 dollars. While most USD sites are selling bitcoins for $229, on CNY exchanges prices go for around Read more ... source: Bitcoin Warrior