{"id":11543,"date":"2015-02-02T19:14:07","date_gmt":"2015-02-03T00:14:07","guid":{"rendered":"https:\/\/wncen.com\/?p=11543"},"modified":"2024-06-11T12:56:30","modified_gmt":"2024-06-11T12:56:30","slug":"bitcoin-price-technical-analysis-for-222015-climbing-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-technical-analysis-for-222015-climbing-up\/","title":{"rendered":"Bitcoin Price Technical Analysis for 2\/2\/2015 \u2013 Climbing Up"},"content":{"rendered":"
Bitcoin price resumed increasing today, reaching a high of $247 as the market’s trading volume is higher than yesterday’s<\/a>. As the bullish wave is building up, we can soon see the price heading up to $300 as soon as the $256 resistance level is broken.<\/p>\n By examining the 1 hour Bitfinex (BTC\/USD) charts from tradingview.com<\/a> (look at the below chart), we can see that today’s trading has led to the formation of 7 successive green bullish candles, which is a sign denoting that the bullish wave has the strength to continue. We can notice that today’s bullish rally occurred at approximately the same time of yesterday’s bullish rally between 16:00 and 21:00 GMT which somehow coincides with market close in the Western world. Accordingly, it seems that we are going to see this pattern repeatedly during the following days; a few-hour bullish wave followed by a longer period of slow downward price correction.<\/p>\n