The recent drop from $334 to $321 this weekend ended up being a sneaky bear trap. Lately, the market has been quite volatile and as mentioned in our previous technical analysis bitcoin trading has been choppy. As Monday hit, so did a few major buy orders causing the price to jump back to $335. The $336 zone is an important pivot point, it served as resistance a few times this past week accompanied by major trading volume. With positive news such as the Bitcoin symbol being added to the Unicode Standard and the acceptance of blockchain technology by banks and institutional exchanges, Bitcoin is holding strong at the current level. However, some major sell pressure is coming it’s way.
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http://themerkle.com/coins/bitcoin-technical-analysis-for-11182015-a-wave-is-coming/
