Bitcoin Forum

In my previous analysis, I predicted the bitcoin price would try establishing new higher high towards the psychological upside risk near 300. This proved to be correct as the price shot up to the lower 290s, while testing the highs near 303.

The wild optimism inside the bitcoin market is invoked by a series of good events that has taken place over the last few weeks. Wall Street investors are speculated to be quietly buying bitcoins and the media seems to be supporting the market – great news for bitcoin. Read on for today’s bitcoin price analysis.



March 10th Bitcoin Trading Session

The BTC/USD opened at 296, right inside the overbought area awaiting corrections. There was little pullback possibly due to traders exiting the market to cover near-term gains. The bull-run however continued to extend while targeting 300 as its next upside risk. The price neatly attempted to cross above the 300-level in between the 8th and 12th hour, marking a higher high near 303. The volatility meanwhile adjusted to strong buying momentum, creating new buying thresholds and indicating a further extended bull-run for near term.


What to Expect Today?

The 4H Bitfinex chart illustrates the technical indicators pointing towards a strong bullish scenario. The price is clearly above the 50-, 100- and 200-H MA, while the RSI is floating near the overbought threshold at 70. At the same time, you can notice the MACD blue curve flying inside the positive territory, while staying notably above the saffrons signal curve.

Once again, the near-term bullish dynamics are sighting 300 as its next pullback point. The aforementioned higher highs have been corrected today and are expected to hold the price from entering an even stronger bearish bias. If this occurs, a similar pullback will be expected at the forthcoming upside risks.

However, a pullback will not disturb the prevailing bullish bias as the price will test 294 as its new support, with a downside risk near 287.  This area will be good enough to enter the market, while awaiting an upside move towards 296, the initial upside target.

A stop loss around 290 will ensure a timely exit.

Conclusion (On Daily Charts)
Current Mood: Strong Bullish
Moving Averages: Strong Buy (12 Buy 0 Sell)
Technical Indicators: Strong Buy (9 Buy 0 Sell 2 Neutral)

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Did it break $300?
I usually check coinmarketcap.com and the price seems to have hovered between $290 and $295.

still no, just very very close, unless i missed it for one second

it was a spike maybe? or arbitrage...

It broke $300 yesterday on Finex for a little bit.

It's just kinda strange ???

I convert it on google it's said 296$, But
When i do convert it on Preev it's said 294$...

So, Which one is true? Preev? or Google?

But, it's really broke 300$ 3 Hours Ago, Based on Google's Database
And meanwhile at Preev it's stuck at 200$-250$ 3 Hours Ago, It's kinda confusing ???

bitfinex yesterday managed to go through $300 but only for a very short time.
i think some one was a bit too excited when buying through the sell wall.

Yeah it did, some orders went through, look at all time high in all of the markets, some it definitely went 300.

If you look closely, it did reached $300 yesterday, at least for Finex. Then it went back down to around $297-$299.

Just go directly to the exchanges where there is the most volume and you'll get the idea of how much the price really is. Don't rely on third-party sites that show the price. Sometimes, you have to see it for yourself in order to avoid confusion. ;)

considering that there are maybe hundreds of exchanges around the world, each one with different prices, I guess both are right since the range of prices are reasonable

But at his given time-frame, $200-$250 isn't reasonable, because most of the exchanges show $295-$297. Maybe it's a bug or something, because apparently sites like those takes only the average price of the majority of the exchanges, and $200-$250 is something far from what really is the actual prices shown on most exchanges.

Now we wait for the $400 :-)

Not that much exciting. We must first be resilient at the $300s before we aim a higher level, though $295-$297 is already a good price since last month if you would ask me.

Looks like it's still in the upper 290's.

Your not alone. This confuses a lot of people. In bitcoin there is no official anything, including price. The "price" of a bitcoin is whatever the owner says. Mine, for example, are $10k. Take it or leave it.

The exchanges show what people are offering theirs for. The aggregate of all this establishes a fair price, but not THE price.   Google uses a weighted average of a bunch of exchanges over 24hours. (I think). But another source may use their own formula or different exchanges. They may use an average over one week or one month.
Ultimately if you sell a BTC you own it and you decide on the price. But if you choose $10k like me, you are not going to get any interest. Until next year. Muahahaha

I think it is going to be $350 by the end of the week. lucky buyers in $200

i saw it as low as $200USD and its already back up to almost $300 .It's restoring fast

I think you missed the trend reversal yesterday..
There's not going to be a 300 as i said before...

We're under correction right now,just lost couple of dollars in last few hours, we may see the major correction soon.

So.. Bitcoins is just like digital things that's can be sell... I get it, anyway, thanks for the explanation, it's really make sense :D (Ps: i read that little text though ;D)

I am still seeing 292

When did it cross $300? The price did not cross $295 in the past 2 days. I kept checking it from time to time. I was expecting it to reach $300 but it is stable at $295. May be we have to wait another week.

Apparently it did in some exchanges, I assume they aren't the main ones since I cannot find any all time high of 300 in the big ones.

It did on localbitcoins.

yeah but you know that don't count  ;D

I guess you are talking about the Ask/Bid price on the exchanger websites. Well that price cannot counted as valid as the fee is also attached to it and so when someone buys the BTC, they bit it for a higher price and vice versa.

It's stable at $285 now. $300 is a distant memory, will get there, eventually.

It is going back just enough to force liquidate some leverage positions then it goes back up ;D

Yes you have the right idea  ;) Always better to sell their and if you can sell it in your local area for cash as you will get a nice premium on that compered to selling anywhere else. I managed to sell 50% what i own so now waiting to see how much cheaper i can get in this baby hopefully not to low it is not good for eveyones stress levels lol