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After a two-week hiatus that saw bitcoin prices dip to a low of $269.68 dollars per coin, we are back at the $300 dollars mark. Today on OKCoin we hit an intraday high of $296.24 before falling back. We are currently quoted at $293.57 dollars. The TradingView chart below shows today’s trading session on OKCoin.
On BTC-E we saw a calmer day, with prices oscillating between $280 and $288 dollars per coin. We are currently trading at $285.77 on this exchange. This is about $7 dollars below the average compared to the other major exchanges. You can find a quick snapshot of BTC prices on this page.
OKCoin futures are continuing the march higher. The July 31st contract is quoting $295.26 dollars while the far-out September 25th contract is trading at $308.31. This is $15 dollars above the current spot price, a tad higher compared to yesterday’s premium. As long as prices move higher, this premium should increase. But if and when the rally reverses, this contract may be susceptible to large losses.
The important levels remain unchanged. Today’s $2 dollars gain doesn’t alter the technical picture. The first weak resistance can be found at $300 (BTC-E) and $305 (OKCoin). This is followed by a relatively large resistance area stretching from the July 12th swing highs to the yearly highs. On BTC-E this area is from $310 to $318 dollars per coin, on OKCoin it’s from $314 to $321 dollars. A breakout above it should extend the gains. On the lower end, a decisive break below the $270 dollars support will end the rally.
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Originally appeared at: http://www.forexnews.com/blog/2015/07/28/bitcoin-nears-300-dollars-again/