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Sunday, November 26, 2017

Bitcoin Moonshot

* See UPDATES below...

Presented without comment (link to prior posts)...


* UPDATE November 27...

Year-to-date percentage gains/losses are shown below for major currencies compared with Bitcoin (+918.37%) (the USD is -9.25%, so far, this year)...


...as it makes its way to 10,000 tonight...


* UPDATE November 28...

Moon landing achieved...10,000 tagged tonight, as shown on the Daily chart below...


So, where does it go from here...it's anybody's guess, but major support lies half-way down between 3000 - 5000, as shown on the Monthly chart below.


* UPDATE November 30...

Two consecutive "high-wave" candles have formed during the past two days, as shown on the Daily chart below. Price is down a bit on tonight's (current) candle (as at 11:05 pm ET).

According to its definition by candlestick guru, Steve Nison, one high-wave candle may signal a change in Bitcoin's upward direction...we'll see whether these two play out in such a scenario. I would have preferred if the second one had closed lower than the first one as a, potential, confirmation of trend reversal. The fact that it closed higher, may prove to be a false alert.

One thing's certain...volatility is increasing on a daily basis. Wednesday's trading range was 2,426.10 points as it spiked to an all-time high of 11,427.20, then plunged to a low of 9001.10  (a 5-hour drop of 21.24%).


Source: Steve Nison of Candlecharts.com