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BTC/USD Stabilizes, Major Bitcoin Indexes Remove MtGox Price

After yesterday’s near 200 points fall on MtGox, today prices on the troubled exchange moved in a much narrower range. The highest high reached during the day was 599.69 and the lowest low was at 545.01. One bitcoin is currently trading at $569 on MtGox. The outrage of the bitcoin community from yesterday’s Gox statement […]

Prices Plummet on MtGox after Exchange Blames Bitcoin Protocol for its Problems

Prices took another dive on MtGox today after the long awaited Monday statement from the exchange failed to deliver. Not only did the company say that bitcoin withdrawals will not be resumed, it went a step further by conditioning their return on a change in the bitcoin protocol itself. Here a part of the MtGox […]

Bitcoin: My opinion on last MtGox Statement

I’ve just read the last statement of MtGox and the ambiguous phrasing of the press release wasn’t a coincidence of course. I’m not talking about a conspiracy to crash the market and rebuy at a cheaper price but the style of the explanation that they’re trying to manipulate their way out of a shortage of […]

Bitcoin Prices at MtGox Stabilize after 10% Fall

Prices at troubled bitcoin exchange MtGox stabilized today after falling another 10 percent yesterday. BTC/USD traded as low as $620 on Gox before reversing course and moving up to $678. Prices stayed mostly flat at other exchanges. On BTC-E, the new currency moved in a 50 points range yesterday. The lowest low of the box […]

MtGox Spread Goes Negative as Fear Grips Bitcoin Markets

Volatility at MtGox continued throughout the weekend with BTC/USD again testing the 660 to 670 support level. After making a small dead cat bounce to 720 yesterday, the pair is once again glued to support. The likely course of action is further move to the downside. In the statement released few days ago MtGox said […]

Long Term Update

As i thought the trading range has been broken after 30 days, it’s very unlikely to see more then that for a market congestion and with no exception this market respected this common rule. For the majority of the time prolonged trading ranges resolve with a strong break to the downside once the smaller trading […]

Bitcoin Falls 20 Percent on MtGox as Exchange Halts BTC Withdrawals

Bitcoin prices fell over 20 Percent on MtGox after the exchange stopped BTC Withdrawals. The company was already having major withdrawal issues in fiat currencies but withdrawing in bitcoins hasn’t been affected until the last few days. The so called ‘’MtGox Premium’’ (for more on this see our Bitcoin GUIDE) went negative for a while […]

iPhone Users Smash Devices on Apple Bitcoin App Ban

After ranging between 810 and 785 for almost a week, bitcoin prices finally fell through the support level. After clearing the orders around 785, BTC/USD fell to as low as 760.50 on BTC-E. One bitcoin currently trades at $767 at the exchange. After narrowing to only 120 points yesterday, the so called ‘’MtGox premium’’ narrowed […]

Bitcoin Exchanges Spread Narrows to 120 Points

Spreads between the major bitcoin exchanges narrowed to only 120 points today. On BTC-E, bitcoin is currently quoted at $792.50. On BitStamp, a bitcoin costs $805 to buy while that same bitcoin will set you back $915 on MtGox. In addition to the narrowing of the spread, the liquidity on Gox seemed to have improved […]

Short Term Update: Bitcoin blocked in a trading range

The BTC/USD at bitstamp exchange has been trying to bottom, but has been blocked in a trading range since 7 January ’14. There have been several attempts to move above the short term VWAP without success, every time my average halted the price advance; this means we have an accurate dynamic level that help us […]

Range Continues, FxOpen to Launch Bitcoin Trading

Bitcoin prices staged another failed rally on BTC-E today. After opening the day at 800 flat, the new cryptocurrency rallied to a high of 809.80 by mid-day. But yet again, btc prices were unable to hold the momentum and BTC/USD was soon trading back below the 808 mark. One bitcoin is currently worth $799.21 on […]

BTC/USD Moves Back Into the Range

Bitcoin prices moved back into the range after briefly hovering above the 808 mark yesterday. BTC/USD fell as low as 784.85 today, but was quickly repelled and is currently trading at 794.67 on BTC-E. The 785 area will be significant support to any down move. A break below could intensify losses to 760. On the […]

Bitcoin trades above the top of the range after failed brakeout

Bitcoin prices are trading above the top of the range after a failed brakeout yesterday. After piercing the top of channel at 808, the cryptocurrency rallied all the way to 817.45 but subsequently failed to keep the upward momentum. One bitcoin is trading at 811.10 on BTC-E, still 3 points above the earlier high of […]

Bitcoin prices poised for a brakeout as range narrows further

Bitcoin prices are moving in an ever narrower range. The cryptocurrency spent all of yesterday in a 17 points channel. The high of the range was 802.10 and the lowest point price ever got to was 784.99. Today that range shrunk to less than 7 points. The highest high today stands at 798.99. The lowest […]

Bitcoin ranges continue for a third day

Bitcoin prices continued to trade in a range for a third day. BTC/USD traded between a low of 756 and a high of 808 on BTC-E yesterday. Today, that range shrunk to a mere 24 points. Today’s highest high was 802 and the lowest point was marked at 784.999. Buying one bitcoin will currently set […]

Bitcoin Prices Range on Lack of Major News

With a lack of major bitcoin related news, the market moved in a tight range for the last two days. There were growing speculations that some major retailers would follow Overstock’s lead and start accepting bitcoins but no names were offered. On BTC-E, prices yesterday moved between a low of 771.05 and a high of […]

Fed Continues With Taper Despite EM Woes and Other Top Forex News.

The Federal Reserve opted to continue cutting back the amount of bonds it purchases as part of its monetary stimulus program on Wednesday, by cutting bond purchases to $65 billion a month in February, down from $75 billion in January. The move was inline with market expectations although there were some murmurings that recent turmoil […]

Short Term Update: News which moves the Market

Bitinstant CEO Charlie Shrem has been arrested today in New York and charged with conspiring to commit money laundering. Well i think that we have just seen a strong shakeout after a bearish news for bitcoin (actually i consider it a positive news, i don’t like to see bitcoin associated to criminal like money laundering) […]

Long Term Update: Congestion

Congestion occurs when four consecutive bars open or close within the range of a “measuring bar”. A “measuring bar” becomes such when its price range contains the opens or closes of at least three of four subsequent price bars. As i said in one of my old post sideways price movement may be broken into […]