Bitcoin Price Recovering From Last Week’s Nosedive!

Bitcoin cost continued rising progressing currently to imitation a high of $350. The shopping volume of a marketplace is rising as reflected by a market’s volume abyss graphs on bitfinex and bitstamp. It seems that bitcoin cost will continue rising during a subsequent few hours to exam again a %23.6 retracement turn during ($341) according to a Fibonacci retracement we plotted on our research on a 12th of November.

Bullish Candlesticks on a 1 Hour Charts:

By examining a 1 hour (BTC/USD) charts from Bitstamp (look during a next chart), plotting a Bollinger bands and executing a William’s Alligator indicator, we can notice a following:

  • Today’s trade sessions on Bitstamp led to a arrangement of 7 greenish bullsih candlesticks, as against to usually 3 reddish bearish candlesticks. A high of around $350 was scored after breaching a insurgency that corresponds to a 23.6% Fibonacci retracement turn ($341); however, it forsaken now to $335.
  • Despite today’s progressing cost drop, we can now tract a new uptrend line (the immature trend line on a next chart) that started pulling a cost North given yesterday during 14:00 GMT. Bitcoin cost is now good next a Bollinger top band, so conditions are auspicious to see it rise



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