3 Feb 2015
Bitcoin gains 8%
FXStreet (Mumbai) - Bitcoin prices advanced today, extending gains for the third consecutive session, while Litecoin prices gained 7%.
Bitcoin trades above short-term averages
The BTC/USD pair has recovered from the early slump to trade above the 5-DMA and the 10-DMA located at 225.45 and 233.38 levels. The prices recovered from the low of 218.34 seen earlier today to hit a session high of 241.67 and in the process also rose above the 100-weekly average located at 227.65 levels. The pair currently trades 8% higher at 240.50 levels.
Meanwhile, the BTC/EUR pair gained 6.70% to trade at 216.80 levels, while CoinDesk’s Bitcoin Price Index, which calculates the average price of the virtual currency across the globe, trades 2.96% higher at USD 244.58 levels. Elsewhere, Litceoin or LTC/USD pair trades 6.85% higher at 1.87 levels.
Bitcoin Technical Levels
A strong resistance is seen at 269.16 (50-DMA), above which the pair could rise to the latest cyclical high of 304.00. Meanwhile, support is seen at 208.00 and 192.00 levels.
Bitcoin trades above short-term averages
The BTC/USD pair has recovered from the early slump to trade above the 5-DMA and the 10-DMA located at 225.45 and 233.38 levels. The prices recovered from the low of 218.34 seen earlier today to hit a session high of 241.67 and in the process also rose above the 100-weekly average located at 227.65 levels. The pair currently trades 8% higher at 240.50 levels.
Meanwhile, the BTC/EUR pair gained 6.70% to trade at 216.80 levels, while CoinDesk’s Bitcoin Price Index, which calculates the average price of the virtual currency across the globe, trades 2.96% higher at USD 244.58 levels. Elsewhere, Litceoin or LTC/USD pair trades 6.85% higher at 1.87 levels.
Bitcoin Technical Levels
A strong resistance is seen at 269.16 (50-DMA), above which the pair could rise to the latest cyclical high of 304.00. Meanwhile, support is seen at 208.00 and 192.00 levels.