OctaFX | OctaFX Forex Broker
Open trading account
Back

Bitcoin struggles around USD 360.00, Litecoin falls

FXStreet (Mumbai) - Bitcoin is trading lower today, breaking a 4-day rally as prices continue to struggle around USD 360.00 levels. BTC/USD failed to sustain above USD 360 despite hitting a high of 380.95.

The virtual currency has been under pressure, off-late due to manipulation by speculators and due to the possibility of it being brought under official regulation.

Meanwhile, Litecoin is trading 1.68% lower at USD 3.79. Prices failed to break above the resistance level of 4.00 yesterday, opening doors for a further sell-off.

Bitcoin Technical levels

Bitcoin has an immediate support level of 340 (low of 18th Aug, 2014), below which prices can drop to 320 levels. On the flip-side, prices can rise to 380.95 (yesterday’s high) if the immediate resistance of 360 is taken out.

Fed's Fischer considers recent USD strength appropriate - Investec

Jonathan Pryor, Corporate Treasury Analyst at Investec remarks that Fed officials commented yesterday on the possible timing of the first rate hike and the dollar strength.
Read more Previous

Portugal Consumer Price Index (YoY) unchanged at -0.4% in September

Read more Next
Start livechat