During the period of the trading e-currency BitCoin made an incredible rally and decline over the period from 10th December to 10th January. The team of analysts and traders in conjunction with the marketing department of the Trade-24 company are presenting to your attention a technical analysis of price policy of cryptocurrency, as well as probable, the causes of the cost changes.
Financial experts of our company noted four periods of e-currency sales on this segment. The first stands from 10th to 20th December. Average balanced price for the goods has stabilized at rates of $ 770.06 for 798.22 per unit. Strong support product gave positive rate of the US dollar, as well as high rates of the main settlement currency purchased capacity.
The second period cost of goods determined leap. It lasted from 21th to 31th December. Changes in value caused incredible jump in the market – the goods within three days (22-24th December) added to the cost of $ 116.09 per unit. Trade-24 experts point out two features: high volatility in the market due to the increase of “bullish” trend and the influence of the People’s Bank of China on the cost of the inflatable price of Bitcoins.
The next period is the increase on the basis of the prices of speculative proposals after the holidays. It lasted from January 1st to January 4th, 2017. The reason for the jump has quite a simple explanation – because of the holidays and closed markets started trading with a mass increase in demand and prices of auto lift. Speculative buying started a number of Asian and European traders in the market segment.
Last stage is the cost of the recession. It lasted from 5th to 10th January and lasts more (at the time of writing the material). During this period, the value of electronic currency and began to descend with the $1135.17 to around 900 dollars. Now there is a smooth adjustment to the level of $ 1,310 per unit of product. The reason for this became active actions of the People’s Bank of China and the US bearish brokers on the iBit exchange and has committed an additional influence on the fall in demand cryptocurrency.
Analysts of Trade-24 believe, that before the end of January we can expect three possible scenarios. The first is the stabilization the price of gold on the correlation level of $30-50. In the second scenario, the fall in the value will be the indicator to $750-795 because of the enhanced support of large traders. The third is the commission to break the resistance level at around $ 920-945, which opens towards the mark at $960-980.