Bitcoin Weekend Price Synopsis: 2016-05-07

Saturday May 07 2016 15:58 hrs UTC

bitcoin150

Vancouver Island, Canada
Bitcoin rises to $461.62

Price brief

Bitcoin is up 1.46% on the day, up 1.48% on the week and up 8.70% on the month:

Last price

456.67 BTCUSD

Price change

day 1.46%
week 1.48%
month 8.70%
*data reference: @OKCoinBTC 456.67 BTC as of 15:58 hours UTC Saturday May 07 2016.

@OKCoinBTC chart

okcoin Data courtesy @OKCoinBTC

Remarks

Bitcoin has seen a recent rise to a weekly high of 461.62. May 02 2016 saw a weekly high volume of 4642.36 BTC and a change of -1.32% in a single 4 hour red candle. With the latest upward swing some traders are buoyed seeing that bitcoin could soon reach a $500 price.

Indicators

daily high 456.50
daily low 455.19

Trend

The weekly trend is up.

Support

Support is the lowest price within the period:

period support
day 456.50
week 440.10
biweekly 431.00
month 409.38

Resistance

Resistance is the highest price within the period:

period resistance
day 455.19
week 461.62
biweekly 470.00
month 470.00

Range

The range is the difference in price within the period:

period range
day -1.31
week 6.66
month 36.56

Market sentiment

bullish

Summary

Bitcoin is up 1.46% on the day, up 1.48% on the week and up 8.70% on the month. The weekly trend is up. BTCUSD saw weekly support at 440.10 and weekly resistance at 461.62. Market sentiment is bullish.

Disclaimer: Past history is not an indicator of future results. For the legal disclaimer read here.

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