17 Dec 2014
Bitcoin trades at a 10-week low
FXStreet (Mumbai) - Bitcoin trades at a 10-week low of USD 316.05 levels today after posting one of the biggest single day losses on Tuesday.
The BTC/USD pair has weakened 1.34% today. The Virtual currency has come under pressure since mid-Nov after failing to rise above 440 levels. Moreover, the investors have ditched the virtual currency in favor of traditional safe haven currencies like the Japanese Yen as risk aversion firmed its grip on financial markets in the last few weeks.
Elsewhere, the BTC/EUR pair trades 1.52% lower at 259 levels, while the CoinDesk’s Bitcoin Price Index trades 2.16% lower at 319.03 levels.
Bitcoin Technical Levels
Bitcoin has an immediate resistance located at 318.07, above which gains could be extended to 340.00 levels. Meanwhile, support is seen at 313.00 and 308.60 levels.
The BTC/USD pair has weakened 1.34% today. The Virtual currency has come under pressure since mid-Nov after failing to rise above 440 levels. Moreover, the investors have ditched the virtual currency in favor of traditional safe haven currencies like the Japanese Yen as risk aversion firmed its grip on financial markets in the last few weeks.
Elsewhere, the BTC/EUR pair trades 1.52% lower at 259 levels, while the CoinDesk’s Bitcoin Price Index trades 2.16% lower at 319.03 levels.
Bitcoin Technical Levels
Bitcoin has an immediate resistance located at 318.07, above which gains could be extended to 340.00 levels. Meanwhile, support is seen at 313.00 and 308.60 levels.