Bitcoin Technical Analysis 11/05/2015 – Its a bloodbath
This week has been quite eventful for those following the markets, just today the market fluctuated $100 from a low of $405 and a high of $502. There are a few theories as to why the bitcoin price increased so rapidly so fast, however one thing we know forsure, there are many opportunities right now to arbitrage between exchanges, and take profits from trading in the volatile market.
Is the rally over?
If we take a look at the current RSI ( Relative Strength Index ) of the market we can see that it is almost the same as it was during the first bitcoin bubble where btc pushed $1000. Read More:
http://themerkle.com/coins/bitcoin-technical-analysis-11052015-its-a-bloodbath/
