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Bitcoin price surged earlier today to print a high of $325. It seems that the $290-$300 level is supporting the price quite well, as the downtrend has been always reversing whenever the price approaches the $310 level which reflects that this level is supporting bitcoin price quite well.
New Uptrend On The 1 Hour Charts:
By observing the 1 hour (BTC/USD) charts from Bitstamp (look at the below chart), plotting the 20,50 and 100 EMAs and executing the RSI and keeping the Fib retracements we plotted earlier this month, we can conclude the following:
- Just when bitcoin price fell to touch the $310 level at around 2:00 am today, a long downwards candlestick shadow was formed, which reflects the strong support at this level, and the downtrend was reversed and bitcoin price started rising to score a high of around $325.
- Since the 16th of November, price was well supported above the $300 level as shown by the long downwards shadows of the candlesticks whenever bitcoin price approached this critical level (look at the below chart).
- Bitcoin price has just surged to exceed the 20 period EMA, which reflects that the new upward trend is strengthening up. We can see the price rise to even higher levels if it exceed the 50 and 100 period EMAs within the next few hours.
- The RSI is in a zone that permits further price advancement i.e. bitcoin is not over bought. Moreover, the RSI is sloping upwards which is in favor of continued strengthening of the market’s buying power.
Indecisive Market on the 1 Day Charts:
Let’s examine the 1 day (BTC/USD) charts from Bitstamp (look at the below chart), plot the 20,50 and 100 EMAs and execute the MACD indicator. We can notice that:
- Bitcoin price is now way above the 20 and 50 period EMAs, yet it is below the 100 period EMA
- The MACD indicator is sloping downwards and the red negative trend line is above the blue positive trend line, so I would recommend not opening new long trade positions until this pattern is reversed.
Conclusion:
Bitcoin price started rising today hitting a high of $325. Our technical analysis is in favor of continuation of this new uptrend so we can see the price hit $340 within the next 12 hours or so; however, it is advisable not to open new long positions until the MACD pattern is reversed on the 1 Day charts.
Charts from Bitstamp, hosted on Tradingview.com
Brony Pony 
Tamer Sameeh 
Tom Simons 
Moɹlp 
Tom Mornini 
Rarrinesses 
Thanks NewsBTC hopefully price will rocket and backfire on this isis bullshit,
You are always welcome Brony. Thanks for stopping by 🙂
Why did you delete my comment? because it included your past history?
Here it is again:
Mr Manipulator again on the top of Google News in like 20 minutes or even less. This has gone way too far and I am reporting you to Google News, especially after the interesting news I found about you.
The doctor was one of the guys who started ‘manipulating’ bitcoin from as early as 2009. He was on metzdowd list and he was one of the 200 people who received the BTC white paper and since then, he started marketing it on HYIP forums like Talkgold and he was giving BTC for free in a crazy manner, of course he was doing this to market BTC, to the extent that some people thought he was the inventor of the blockchain, yet I don’t think so.
Interestingly enough, he had a bitcoin exchange that was named Bitcoinary, he sold it now to a BTC casino site. Around 4-5 years ago, the doctor had the biggest exchange selling BTC online, especially that bitcoinary allowed you to buy BTC in any currency libertyreserve perfectmoney payza paypal moneybookers moneypak solidtrustpay and even more. Although the site was open for anyone to buy and sell BTC, the doctor’s accounts were the ones controlling the market. I remember how he used to raise the price of 1 BTC $1 a day for more than a month and because he had the biggest buying power then in comparison to all other exchanges, they were all small back then apart from MtGox, his prices were almost official by monopolizing the exchange between BTC and payment processors with chargebacks such as Paypal, moneybookers…etc.
I have evidence that proves all this and I can share with you all his BTC address that received more than 100,000 USD in BTC in 2 months in 2012, but will only show this evidence if he denies any of this.
So, I wasn’t wrong about him trying to manipulate the BTC markets as he has a long history in this.
You replied on the other comment, any reply on my comment?? 😛
Do I have to reply to your insults and illogical comments? I don’t think so, but here I go:
I wasn’t the sole owner of bitcoinary, I only had a small share at that site and I traded BTC there like anyone else did and I had a lot of orders because people were giving me great feedback, so I don’t think it was a crime to do some BTC business back then.
I WARN YOU IF YOU EVER SHARE MY BTC ADDRESS HERE, I WILL TAKE ALL LEGAL ACTIONS AGAINST YOU
Just curious, what legal action is there for sharing a BTC address? Dying to see this.
The same law applies for sharing personal bank account numbers
Can you post that law as it applies to Bitcoin? What jurisdiction is this?
The jurisdiction of “common sense”. Do you think it is legal to publish online all the transactions checking in and out of one’s bank or bitcoin account? I don’t think so. Don’t you know that if I have your BTC address, I can know via the blockchain every cent that entered in and out of your account, ever since you have created it?
So there is no law.
I cannot obtain banking accounts legally. I can obtain public addresses and usage on the public blockchain. That’s why you don’t know my address, the security of it is up to me not a bank. A bank owns my account. Someone might know yours and there’s nothing you can “legally” do about it if he post it and all your transactions. You cannot compare a bank account to a Bitcoin address.
Well, there might not be a law, but there is another law, which I can assure you, that applies quite well; “Never f**k with a Bitcoiner”
Period
Wow, a threat.
Not cool. Your reputation is toast.
Not threatening, just trying to protect my privacy. That guy Tom Simons is spying on me and releasing private information about me, how do you want me to react? cuddle him?
> I WARN YOU IF YOU EVER SHARE MY BTC ADDRESS HERE, I WILL TAKE ALL LEGAL ACTIONS AGAINST YOU
Empty threat.
> The same law applies for sharing personal bank account numbers
Blustering lie.
> “Never f**k with a Bitcoiner” Period
Threat.
> That guy Tom Simons is spying on me
Welcome to the public blockchain. doesn’t qualify as spying, doesn’t warrant threats and lies.
> how do you want me to react? cuddle him?
In an honest, rational, non-threatening way.
Thanks very much for defining the purpose and underlying psychology of each and every sentence of mine.
Well, there was that and also the small part about saying you’re a blustering moron.
You are right about this and this was an issue I did worry about.
Thanks for your support
Tamer can’t you just get a new address sir, or is it important so your business contacts know who they’re dealing with??
Id assume you could buy few altcoins move from one exchange to another, sell for BTC and send to new addresses, or maybe use a bitcoin mixer? but to me that seems stupid as your mixing with other funds people are trying to hide, altcoin method would work best just make sure the ones you use have the volume on other exchanges.
Thanks my friend for your advise, I will surely look into your valuable suggestions.
and no one deleted your comment, it is live
Not sure what your talking about here, people can trade how they like! yes if they own the exchange might be insider trading, but that can’t really happen any more as Bitcoin has too many exchanges…
Sounds to me like your one of the scum team that was trying to lower the price via CoinDesk and other fake news sites, and you didn’t like how we get our freedom of speech here, so your attacking owner of NewsBTC?????
Coindesk is probably run by a team of exchange owners, if its exchange owners its not clear why they wish to lower price, maybe Okcoin got hacked and they need to lower price to regain BTC before people find out… really not all news is good new, the ISIS lies they’ve spread shown that.
As far as I can tell your only informing us about how much NewsBTC owner helped Bitcoin in the early days got rich and is still loyally supporting Bitcoin via his NewsBTC project… go ahead and spread your lies will only be good for NewsBTC.
I really admire your deep understanding of the cryptocurrency markets, including the BS that is sometimes thrown at us like what our friend Tom is doing. I am not the owner of NEwsBTC, yet the owner is my best friend and NewsBTC is my home 🙂
Total non-sense. I thought I stopped hearing this BS a few years ago. You are just making yourself look like a fool with such comments. Haruaki, Macey and the others were my partners in the affiliate marketing business we were running back then. Tipping BTC isn’t a crime and you can’t just judge who is(are) Satoshi Nakamoto by a stupid group of initials. “Who is Satoshi Nakamoto?” is a question that will never be answered, just like the “Who killed Kennedy?” question, so find yourself another question to answer
I have a tip for NewsBTC you always come up first page google search for Bitcoin price,
you should also try add the keyword Bitcoin worth to your pages, as coindesk scum is cornering the market
in fact coindesk articles have too many keywords that they clearly add on purpose.. maybe they should be the ones reported to google for keyword tampering.
Yes, totally agreed. Don’t worry, Google’s Leapforce are penalizing sites that resort to KW stuffing brutally now 😉