Bitcoin Breaks Out, Closes +$11 Dollars –

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Bitcoin broke out of the congestion area noted in our yesterday article. The break happened around $274 dollars on BTC-E and $277 dollars on OKCoin. The move up continued right until the end of the session. On BTC-E a high of $288.67 was reached, with an eventual close at $284.14. On OKCoin we saw a move to $289.12 with a close at $287.96. The closing time used is 23:00 CET (17:00 EST). The chart below clearly shows today’s breakout higher on BTC-E.


We are currently quoted at $283.13 on this exchange, compared to $288.32 dollars on OKCoin. Furthermore, futures contracts on OKCoin are trading even higher. The nearer July 31st contract is trading at $290.03, while the far out September 25th contract is quoting $302.80 right now. This particular contract hit a high of $303.20 earlier in the session.

Note that whenever trading futures on OKCoin you have the risk of a clawback. A clawback is a system by which OKCoin takes money from the winning traders during the past week (Friday to Friday), to compensate for

Read more ... source: Bitcoin Warrior