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Home / Market News / Bitcoin Prices Consolidate $600 Support

Bitcoin Prices Consolidate $600 Support

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The Bitcoin price was relatively volatile last week frequently dipping under the $600 mark as market was stormy. The support being broken at the $600 level was pivotal to the volatility experienced as investor confidence dipped and the sell off had begun. However this week has seen a much better start as the $600 market has been reconsolidated.

The graphs currently look healthy as busy signals are attached to the market as markets move on up. Prices seem stable as the markets are void of bearish signals and while prices do hover below the $600 support level occasionally, overall the markets remain healthy to trade in. 

As seen below in the graph, the past 24 hours have seen positive movement as the prices slowly inch up above the $600 level even peaking at $606 with the potential to move up at the same rate considering the trading volume has remained stable to support the current growth.

bitcoin prices

Speculation

To conclude I would strongly suggest purchasing some Bitcoin under current market conditions which look set to stay for the next fortnight considering trade volume has remained at healthy levels preventing whales from selling offer cashing out. Current market conditions are bullish and I wouldn’t be surprised if the coin gain 0.5 % within 24 hours as momentum remains under play for many exchanges such as Bittrex. These are perfect conditions for those looking to short the markets as volatility will remain in play in short bursts. You too can take advantage of the current Bitcoin conditions via the NairaEX exchange which sells Bitcoin at market premium rates to attempt to make some profit off the current market. Good luck and happy trading.

Disclaimer: btc.ng or the Author do not accept responsibility for financial loss incurred following advice given, trading losses can easily exceed deposits so please trade responsibly.

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