Hello all,
The BTC is still progressing inside an UP trading canal but it is currently trying to break it by the UP :
- If we break the resistance line (upper line), we should see an acceleration in the UP trend.
- If we are not able to break it soon, we should go test the low of the trading canal.
You can use the bottom of the trading canal to place your stop and secure your profits.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Version française ici : [FR] BTC - Toujours au sein du canal de trade haussier mais tentative de le casser par le haut
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Couple months ago, i thought bitcoin was going to top at 5k for now... then 10k for now... are we going to see 15k?
Bitcoin hit a new record high on Tuesday, close to $ 11,850, having made a rally since $ 1,000 at the beginning of the year.
On Bitfinex stock exchange based in the US, Bitcoin is at $ 11,620.00 at 6:28 AM ET (11:28 GMT), after earning $ 11,842 earlier.
Bitcoin gains have reaped 30% since Thursday, when prices fell to nearly $ 9,000 after tumbling more than 20% from the peak of the previous weekend.
Bitcoin, which is known for wild fluctuations, tends to bounce back quickly.
Prices rebounded on the launch of futures contract on bitcoin, a potentially important step in the evolution of digital currency.
The Commodity Futures Trading Commission of the United States announced Friday that it would allow two major exchanges to launch Bitcoin futures.
Cboe Global Markets announced Monday the launch of cryptocurrency futures trading as of December 10th.
CME Group, the world's largest derivatives exchange operator, said its bitcoin futures will be launched on December 18th.
Wont it be profitable to convert crypto into some currency with lower market capacity????????? bitcoins are making so much progress right now all for what coz it has only 21 million market cap max... if u invest into something into even lower market cap then today or tomorrow u can make way more money
Yeah bitcoin is great and all
But what about iota lately?
Talk about gains 😀
I see current Bitcoin price action as an accelerated visual representation of greed and fear at work. That said everything is cyclic and human nature fails to change. We are still the same greedy selfish assholes we were when we lived in caves, we are still the same bunch that runs up and summarily crashes every market top at some point. We, and accordingly price action and patterns based on our irrational behavior fail to change.
I'm keeping a close eye on Bitcoin at the moment as I feel it is a somewhat dangerous point to enter the market in the $11,500 range. I will wait for a week over week correction and to see how this futures things plays out before making any moves of significance.
https://steemit.com/bitcoin/@pawsdog/12-5-2017-the-market-view-and-trading-outlook
Really if you want to invest it comes down to whether or not you think bitcoin will be used as a currency in the future.
Currently what keeps bitcoin afloat is the criminal underworld using it widespreadly over the darknet and Japan itself having somewhat adopted it.
That causes bitcoin to continuelly be used as a currency.
What will cause bitcoin to go up in value is if more people continue to use it.
Personally I believe the people currently using it will continue to use it and more people will use it as we progress and the word spreads.
This is why It is still worth investing.
However currently with the amount of people using it as a currency its current value is fairly accurate.
I mean tell me if I'm wrong but the decline of trade volume suggests there isn't a lot of support right now for the uptrend. Would guess that at this point we'll see the chart retrace back to the line of support before either rebounding weakly or breaking through the bottom. Any thoughts?
Great article , keep the good work
RSI levels are too damn high to take a safe long position on Bitcoin right now (although there is still room for the price to go up to a RSI level around 95. A major correction, likely going to 7000 euros (sorry, I am not working with dollars) or even to 6500 euros will probably happen soon. The price will find strong supports at those levels and only when it breaks through 6500 there will be a real mess. I am expecting the price to return to a bullish movement from those support levels though.