Bitcoin Trading- BTC/USD Technical Analysis, Oct 26: BTC extends slump, breaks $340

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) has broken back through yet another support level as the pattern of weekend doldrums hitting the pair earlier this year appears to have returned.

BTC broke through the $340-$350 support platform 24h ago, hitting $337, hours after breaching the $360 mark on BTC-e. It has since bounced back as high as $360, now trading at $351.

Upon breaking $360, it was assessed that BTC is likely gradually completing a cycle of return back to the low $300's. There is little historical support between current levels and $200, a range whose one-year anniversary of achievement is days away.

Should BTC approach that "touchy" level of $300 again, be on the lookout for some highly irregular trading activity and sharp moves in either direction. On BTC's last tumble into the $300 patch, it was believed that stop orders of early adopters were activated, while abnormally large orders trapped prices below $300 for an extended period.

Volume has averaged about 300 BTC an hour.

The gap between BTC-e and Bitstamp has shrunk to $1.20 (0.3%), perhaps a signal of impending Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term. One of the anomalies during the aforementioned descent to $300 was a reversal in the BTC-e/Bitstamp gap, with the former exhibiting a premium of as much as 3%.