20 Jan 2015
Bitcoin stuck in a narrow range
FXStreet (Mumbai) - Bitcoin prices are stuck in a narrow range of USD 218 to USD 202 for the second consecutive session after failing on multiple occasions to rise above USD 220 levels.
The BTC/USD pair traded 2.30% lower at 207.24 levels, compared to the previous session’s close at 210.88 levels. The virtual currency has witnessed a technical failure to rise above USD 220-226 levels since last six trading sessions. However, the losses have been capped around USD 190-200 levels. Meanwhile, the BTC/EUR pair fell 2.90% to 184.00 levels, while CoinDesk’s Bitcoin Price Index, which measures the average value of the virtual currency across the globe, is down 2.61% at USD 208.39 levels.
Elsewhere, the Litecoin or LTC/USD pair has weakened 2.17% to 1.31 levels.
BTC/USD Technical Levels
The immediate resistance is seen at 217.70, above which gains could be extended to 226.70 levels. Meanwhile, support is seen at 192.00 and 168.00 levels.
The BTC/USD pair traded 2.30% lower at 207.24 levels, compared to the previous session’s close at 210.88 levels. The virtual currency has witnessed a technical failure to rise above USD 220-226 levels since last six trading sessions. However, the losses have been capped around USD 190-200 levels. Meanwhile, the BTC/EUR pair fell 2.90% to 184.00 levels, while CoinDesk’s Bitcoin Price Index, which measures the average value of the virtual currency across the globe, is down 2.61% at USD 208.39 levels.
Elsewhere, the Litecoin or LTC/USD pair has weakened 2.17% to 1.31 levels.
BTC/USD Technical Levels
The immediate resistance is seen at 217.70, above which gains could be extended to 226.70 levels. Meanwhile, support is seen at 192.00 and 168.00 levels.