Bitcoin Trading–BTC/USD Technical Analysis, Dec 21: Prices Choppy on Low Volume

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 (BTC/USD) trading remains choppy in a low volume environment this weekend after nearly slipping below $300 last week.

After falling to its lowest point since early October, the pair whipsawed higher by as much as seven percent to $324 on BTC-e, only to revisit the low 24 hours later. Thereafter, it climbed as high as $330, giving the impression that a critical bottom was reached and a large-scale reversal was in the works.

All this, however, took place on low, inconsistent volume. The rally waned, or at least took a pause, and the pair fell back to $315. It is currently trading at $318, the next moves highly uncertain. At current levels, any rally is likely to be short-lived unless the pair gathers sufficient momentum to escape out of the $340s.

The pair has not experienced a gain of 10% since one month ago when it rallied to $389.

Prices on BTC-e are $7 ($2.2) off those on its peers, possibly a result of the choppy activity.