Dec 12, · Bitcoin Shows Signs of Strength as Bulls Reclaim $18, At the time of writing, Bitcoin is trading up just over 2% at its current price of $18, This is around the price at which it has been trading throughout the past few days. Dec 22, · Bitcoin could be at risk of a short-term pullback as the popular cryptocurrency’s surge to fresh yearly highs appears to be running out of steam. Key technical levels to watch for the weeks ahead.
Short term trading bitcoinBitcoin (BTC) Price Outlook: Short-Term Pullback in the Making?
Here are the key technical levels to watch for the weeks ahead. Bitcoin weekly chart created using Tradingview. However, a short-term pullback towards former resistance-turned-support at the high could be in the offing, if prices fail to gain a firm foothold above the psychologically imposing mark on a weekly close basis. Slipping back below the high would probably trigger a more extensive pullback and bring the high into the crosshairs. Alternatively, a weekly close above the yearly high would likely signal the resumption of the primary uptrend and carve a path for price to probe psychological resistance at Bitcoin daily chart created using Tradingview.
Zooming into the daily chart hints that the popular cryptocurrency could be at risk of a near-term pullback, as prices fail to remain constructively perched above the Bearish RSI divergence suggests that the recent surge to fresh record highs may be running out of steam.
However, an extend correction lower seems relatively unlikely, given prices are continuing to track firmly above all 5 exponential moving averages. The number of traders net-long is We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Bitcoin prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Bitcoin trading bias.
Follow me on Twitter DanielGMoss. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Live Webinar Live Webinar Events 0. Economic Calendar Economic Calendar Events 0. Duration: min. P: R:. Search Clear Search results. No entries matching your query were found. While this might not appeal to all investors, those interested in buying and selling actual bitcoin could short-sell the currency directly.
Sell off tokens at a price that you are comfortable with, wait until the price drops, and then buy tokens again. Of course, if the price does not adjust as you expect, you could also either lose money or lose bitcoin assets in the process. Your Money. Personal Finance. Your Practice. Popular Courses. Bitcoin Guide to Bitcoin. Cryptocurrency Bitcoin. Key Takeaways For those looking to sell short Bitcoin, to earn a profit when its price falls, there are a few options available to you.
Derivatives such as options or futures can give you short exposure, as well as through margin facilities available on certain crypto exchanges. The price of Bitcoin can be volatile and go both down and up suddenly. Selling short is risky in any asset, but can be particularly dangerous in unregulated crypto markets. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
Related Articles. Brokers eToro Review. Bitcoin Bitcoin's Price History. Partner Links. Related Terms Coinbase Commerce Coinbase Commerce allows merchants to accept multiple cryptocurrency payments from global customers. Bitcoin Exchange Definition A bitcoin exchange is a digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins. Bitcoin Bitcoin is a digital or virtual currency created in that uses peer-to-peer technology to facilitate instant payments.
It follows the ideas set out in a whitepaper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified.