29 Jan 2015
Bitcoin trades below 10-DMA
FXStreet (Mumbai) - Bitcoin prices are trading below the 10-DMA located at 230.38 levels, after having failed to sustain gains above the 5-DMA located at 240.65.
Doji candle on the daily chart
The virtual currency has formed a Doji candle on the daily charts, representing the indecisiveness among traders after having declined 80 points or 26% in last three trading sessions. So far in the day, Bitcoin has been unable to rise above the resistance at 226.01, while losses have been capped around 215.00 levels.
Elsewhere, the BTC/EUR pair has declined 0.39% to trade at 203.09 levels, while the LTC/USD or Litecoin is up 4.02% at 1.83 levels.
Bitcoin Technical Levels
The immediate resistance is located at 226.01 (Jan. 15th high), above which gains could be extended to hourly chart resistance at 241.19 levels. Meanwhile, support is seen at 215.00 and 192.00 levels.
Doji candle on the daily chart
The virtual currency has formed a Doji candle on the daily charts, representing the indecisiveness among traders after having declined 80 points or 26% in last three trading sessions. So far in the day, Bitcoin has been unable to rise above the resistance at 226.01, while losses have been capped around 215.00 levels.
Elsewhere, the BTC/EUR pair has declined 0.39% to trade at 203.09 levels, while the LTC/USD or Litecoin is up 4.02% at 1.83 levels.
Bitcoin Technical Levels
The immediate resistance is located at 226.01 (Jan. 15th high), above which gains could be extended to hourly chart resistance at 241.19 levels. Meanwhile, support is seen at 215.00 and 192.00 levels.