{"id":12249,"date":"2015-02-10T18:37:48","date_gmt":"2015-02-10T23:37:48","guid":{"rendered":"https:\/\/wncen.com\/?p=12249"},"modified":"2024-06-11T12:56:24","modified_gmt":"2024-06-11T12:56:24","slug":"bitcoin-price-technical-analysis-for-1022015-code-220","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-technical-analysis-for-1022015-code-220\/","title":{"rendered":"Bitcoin Price Technical Analysis for 10\/2\/2015 \u2013 Code: $220"},"content":{"rendered":"
Bitcoin price fell slightly below the $220 support level to score a low of $214 before rising up again to $221.71 at the time of my writing of this article. Bitcoin price overshot below the $220 support level; yet, it rapidly corrected itself to rise above $220 during later trading sessions.
\nBy looking through the 1 hour (BTC\/USD) Bitfinex charts from tradingview.com<\/a> (look at the below chart), we can notice how the price dropped to $214 yet the downtrend was reversed a few hours later and pushed the price above the $220 support level. As shown on the below chart, we can see how bitcoin price overshot below the $220 support level, before rising up again above $220 three times during the past 5 days. This signifies the strength of support at the $220 level and further endorses the fact that we are not likely to see bitcoin price drop below $220 during the upcoming few days, especially considering that\u00a0bitcoin is now trading above its 10 day EMA. Today’s price drop could be attributed to the Mycoin crisis news<\/a>\u00a0reaching more mainstream news sources and wider news audiences.<\/p>\n