• Bitcoin price is trending sideways after failing to overcome the $30,000 psychological level.
• The BTC/USD chart has developed into a symmetric flag in the one-hour timeframe.
• Current Bitcoin price reflects a 79.3% gain since the beginning of the year.

Bitcoin price is trending sideways after failing to overcome the $30,000 psychological level during a recent rebound. The BTC/USD chart has developed into a symmetric flag in the one-hour timeframe after experiencing some volatility in the past 24 hours.

It was an eventful week for Bitcoin, as the flagship cryptocurrency experienced one of its most volatile moments since the year began. Rumors of the U.S. government selling off confiscated Mt.Gox Bitcoins sent the market into panic mode, and Bitcoin shed more than 8% of its value in less than two hours.

The price rebounded after the rumor was debunked, and almost all the losses recovered within 24 hours. Despite an impressive rebound, the $30,000 price level is again proving difficult for Bitcoin to overcome. The pioneer cryptocurrency experienced another selloff, this time to a smaller magnitude in the past 24 hours.

After…

The post Bitcoin Goes Down and Surges Up 24hrs After Extreme Volatility appeared first on Coin Edition.

• Bitcoin price is trending sideways after failing to overcome the $30,000 psychological level.
• The BTC/USD chart has developed into a symmetric flag in the one-hour timeframe.
• Current Bitcoin price reflects a 79.3% gain since the beginning of the year.

Bitcoin price is trending sideways after failing to overcome the $30,000 psychological level during a recent rebound. The BTC/USD chart has developed into a symmetric flag in the one-hour timeframe after experiencing some volatility in the past 24 hours.

It was an eventful week for Bitcoin, as the flagship cryptocurrency experienced one of its most volatile moments since the year began. Rumors of the U.S. government selling off confiscated Mt.Gox Bitcoins sent the market into panic mode, and Bitcoin shed more than 8% of its value in less than two hours.

The price rebounded after the rumor was debunked, and almost all the losses recovered within 24 hours. Despite an impressive rebound, the $30,000 price level is again proving difficult for Bitcoin to overcome. The pioneer cryptocurrency experienced another selloff, this time to a smaller magnitude in the past 24 hours.

After…

The post Bitcoin Goes Down and Surges Up 24hrs After Extreme Volatility appeared first on Coin Edition.