Bitcoin analysis. Will bitcoin go down ??
On the bitcoin analysis front is peace … like that we can call trading last week, so, if you have a resolution set on days and for significant change you consider the movement of more than $ 20, like me. Perhaps the only exception was Wednesday, when traders of Bitstamp was looking for a close support. They found it at literally the magical $ 333.33, from that price bounced back to its original band. More or less happend what I predicted in the last analysis, Bitcoin prices are averaged around $ 350 per piece.
Next week, do not expect a significant change. And we should continue to move in the section indicated by yellow lines. This is indicated as total volumes in the different bands. In the current band we didnt traded much. While in the band, where price after the big sell-off in early October optimistic climbed, even to the dimension $ 418, was traded (on Bitstamp) 214000 Bitcoin, under band, it was 160,000 Bitcoin and to the last Wednesday in the current zone was only traded 100 thousand BTC and only the last week, this value rised up to 180,000 Bitcoin. Even so, the better traders traded at higher than at lower prices.
View Bitcoin exchange rate next week – Will bitcoin go down ??
In the coming days, therefore I expect more movement to the side, at least, until the price starts again test the strength of the trend line. Designated place for volatility will shrink. Only then could lead to some interesting developments.
I continue, however, that no bitcoin analysis is not definitive. We’re still in a bear trend, if will happen the larger movement, it will probably be a movement downward when you move up, I would recommend caution, it could be just a short-term glitch.