Bitcoin Dips, Establishes Short-Range Trend

After again failing to crack the now impenetrable 980 mark , BTC on MtGox slipped to a low of $935 before rebounding to $950.

Trading volume was even lighter than yesterday, averaging fewer than 100 BTC exchanged per hour.

Today's trading around the low 950's marks a noticeable drop from typically higher levels between $960 and $970 maintained over the past 3 days.

However, more significant is the development of new short-range support level around $935 within the current trading range. BTC has tested this level on multiple instances over this period and recovered well each time. The , however, continues to be a formidable obstacle both in the short and mid term patterns.

Continued trading in this range under low volume conditions will likely continue so as long as the calm fundamental climate prevails. Traders are unmoved even by mixed signals from Google about its potential integration of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term, perhaps via Google Wallet.

This era of stability is the longest such period since October, when BTC was trading below $200 before exploding several-fold followed by aftershocks.

Though BTC looks poised to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term its newest floor as platform to jump higher, this is unlikely to happen in the absence of good news from Chinese authorities or the people looking to work around them.

(Chart Source: Bitcoinwisdom.com)