Bitcoin finally breaks $300

[Kimba_Coinarch]

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)

Trade bitcoins using Kimba as the invitation code at www.coinarch.com and receive free brokerage for 7 days.

[aso118]

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

[Amph]

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...

[ThatDGuy]

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.

[Vhawk23]

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

[randy8777]

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.

[thejaytiesto]

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

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

[dothebeats]

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...

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

[dothebeats]

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

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.

[Omikifuse]

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

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

[dothebeats]

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

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.

[avw1982]

Now we wait for the $400 :-)

[dothebeats]

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.

[Somekindabitcoin]

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

[RodeoX]

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

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

[spirit of btc]

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

[bitsat alien]

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

[kwukduck]

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...

[innocent93]

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

[Vhawk23]

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

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

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 (Ps: i read that little text though )