Lifting the Offer: Bitcoin trading the week of December 21, 2015

Lifting-the-Offer-Week-of-12.21.2015.png

The bitcoin market started the week hot, shooting up 5% between Monday and Tuesday. Ultimately, the early gains were erased and the price closed the week in the red. Traders should anticipate higher volumes early this week with volatility tempering down as the Christmas holiday slows market activity. 

CHECK OUT OUR DECEMBER BITCOIN MARKET REPORT

 

Bitcoin-Tradeblock-12.21.2015.png

Source: tradeblock.com


Bitcoin Price Recap

Strong early week price movements led the market to the cusp of December’s high of $468. Low trading volumes in the second half of the week the market to trade sideways through Friday.  Prices dropped 7.5% intraday on Sunday, hitting a floor at $426. 

 

OUR LATEST BITCOIN RESEARCH DELIVERED TO YOUR INBOX. SUBSCRIBE TO ITBIT TRADING BLOG TODAY!


Bitcoin by the Numbers

Bitcoin-Price-and-Market-Cap-12.21.2015.png

Bitcoin Trading Week Ahead

Buyers will look to inject dry capital into their trading accounts to take advantage of the lower trading levels. Market participants will also use this week to close out year-end positions.

Traders should look for opportunities early in the week before the Christmas holiday. Technicals will play a larger role this week as news will be limited and likely a non-factor. 

Support is set at $435 with resistance at $465.


Best Bits from Last Week




Bobby Cho is the Director of Trading at itBit and leads our OTC Agency Trading Desk. Previously, Bobby was Vice President of Trading at SecondMarket where he helped create the first broker-dealer based institutional bitcoin trading desk. He has extensive experience in both bitcoin and securities trading with clientele ranging from Fortune 500 companies, hedge funds, asset managers and other financial institutions.

 

Trade on itBit’s OTC Agency Trading Desk and Receive $50

Trading over 100 bitcoins? Use itBit’s OTC desk and receive $50 in bitcoin after your first trade! 

Personalized Trading Support | Low Fees | Same-Day Settlement

LEARN MORE  

 

*All data and references are current as of 9:00AM EST on 12/21/2015.

Lifting the Offer Legal Disclaimer