Price Analysis, December 09: Bitcoin
Bitcoin is on the cusp of mass adoption, with futures trading starting on the CBOE from 6 p.m. ET on Sunday and on the CME from December 18. After the buying frenzy of the past few days, the question in everybody's mind is whether the trading in futures will boost prices higher or will the short sellers use the opportunity to sink prices lower.
This is an unprecedented event; hence, it is very difficult to forecast the final outcome. Nevertheless, the volatility is likely to remain high in the first few hours and days of futures trading, as both the bulls and the bears slug it out at the CBOE.
While the intraday traders can use the opportunity to profit from the volatility, it will be a difficult time for the investors.
Additionally, how will the trading in Bitcoin affect the altcoins? Will it be bullish or will bitcoin garner all the attention?
We will get the answers next week. Until I get a clear picture, I will not recommend any trading positions at the moment.
The momentum in Bitcoin pierced through the critical Fibonacci resistance levels. It hit a high of $17237.44, well above the levels where I had advocated booking profits in my previous analysis.
After three large range days, the digital currency is forming an inside day candlestick pattern. I believe that the first few hours of futures trading are likely to be very volatile. It is difficult to predict, which way will the prices move.
We can only keep certain levels in mind and work with them once the volatility subsides.
On the downside, support is at $12734.97 and $11344.15, which are 38.2% and 50% Fibonacci retracement levels of the rally from $5450.86 to $17237.44. On the upside, if price breaks out to new highs, its next level of resistance is the Fibonacci extension level of $18281.68.
These levels are only guidelines. Tomorrow, Bitcoin can easily breakout or breakdown of these, hence, please trade with caution. I recommend staying on the sidelines for the next couple of days, unless one is an experienced intraday trader.
Bitcoin is on the cusp of mass adoption, with futures trading starting on the CBOE from 6 p.m. ET on Sunday and on the CME from December 18. After the buying frenzy of the past few days, the question in everybody's mind is whether the trading in futures will boost prices higher or will the short sellers use the opportunity to sink prices lower.
This is an unprecedented event; hence, it is very difficult to forecast the final outcome. Nevertheless, the volatility is likely to remain high in the first few hours and days of futures trading, as both the bulls and the bears slug it out at the CBOE.
While the intraday traders can use the opportunity to profit from the volatility, it will be a difficult time for the investors.
Additionally, how will the trading in Bitcoin affect the altcoins? Will it be bullish or will bitcoin garner all the attention?
We will get the answers next week. Until I get a clear picture, I will not recommend any trading positions at the moment.
The momentum in Bitcoin pierced through the critical Fibonacci resistance levels. It hit a high of $17237.44, well above the levels where I had advocated booking profits in my previous analysis.
After three large range days, the digital currency is forming an inside day candlestick pattern. I believe that the first few hours of futures trading are likely to be very volatile. It is difficult to predict, which way will the prices move.
We can only keep certain levels in mind and work with them once the volatility subsides.
On the downside, support is at $12734.97 and $11344.15, which are 38.2% and 50% Fibonacci retracement levels of the rally from $5450.86 to $17237.44. On the upside, if price breaks out to new highs, its next level of resistance is the Fibonacci extension level of $18281.68.
These levels are only guidelines. Tomorrow, Bitcoin can easily breakout or breakdown of these, hence, please trade with caution. I recommend staying on the sidelines for the next couple of days, unless one is an experienced intraday trader.
Crypto Trading Signals
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Burn: After the FORK, approximately 55 Million coins will be burned from the future supply. There will be half a million coins less per month added to the circulating supply.
👆OMG - Long term (Three figure coin)
After partnership with Thailand's 5th largest bank, it seems to be time for Omisego to moon in 2018.
I would definitely have this in my portfolio - long term
After partnership with Thailand's 5th largest bank, it seems to be time for Omisego to moon in 2018.
I would definitely have this in my portfolio - long term
Chicago Board Options Exchange (CBOE) to launch BITCOIN FUTURE - Sunday 6PM (EST). What will happen to bitcoin price?
Price will spike up – 415
👍👍👍👍👍👍👍 58%
Price will crash – 300
👍👍👍👍👍 42%
👥 715 people voted so far.
Price will spike up – 415
👍👍👍👍👍👍👍 58%
Price will crash – 300
👍👍👍👍👍 42%
👥 715 people voted so far.
IMPORTANT: We are going to change channel link. As we not not a PUMP channel and the word'PUMP' in the channel link can cause confusion for new members. Se we have decided to change link address to this channel 😊
Some people are asking if we are moving to new channel. No, we are not moving to any new channel. We have just changed our channel link.
In simple words, no one has to take any action.
It is the same channel, only link address has been changed. before it was /pumpsnotifier and now we have changed to /CryptoLiveSignals.
In simple words, no one has to take any action.
It is the same channel, only link address has been changed. before it was /pumpsnotifier and now we have changed to /CryptoLiveSignals.
So far it seems good. Market has not reacted aggressively to Bitcoin Future Introduction. Although it would be too early to say anything but one thing is for sure: BITCOIN is going to see Extra Ordinary growth in coming months.
The questions is: What about Alt coins?
The whole of Crypto Currency Market can be explained in this example: if we consider that there are 3600 seconds in 1 hour on clock, we are only in the first 5 seconds. The journey has just begun and world has started adopting this digital currency reluctantly.
Alt coins will see massive growth in 2018. Billions and billions are coming into market with every passing day and this is the reason we believe in that money coming into market will eventually flow into other crypto currencies.
I personally have many coins in my portfolio which are down at the moment. The people who are in this trading space understand and take this as normal, its only about new people who come into market, buy something and if in next few hours, it goes down they do panic selling and out of market.
The coins(Signals) we post into the group are the projects with strong development team, good marketing strategies and above all (Community) behind them. We will never post any C**P coins with low volume (Which 97% of other Telegram channels) post. They pre-buy these shit coins and set sell orders and then post some random news about it. People rush to buy that coin and in result, they lose money. You know it very well what channel I am talking about. This gives Pump affect to that coin. Stay away from them.
The questions is: What about Alt coins?
The whole of Crypto Currency Market can be explained in this example: if we consider that there are 3600 seconds in 1 hour on clock, we are only in the first 5 seconds. The journey has just begun and world has started adopting this digital currency reluctantly.
Alt coins will see massive growth in 2018. Billions and billions are coming into market with every passing day and this is the reason we believe in that money coming into market will eventually flow into other crypto currencies.
I personally have many coins in my portfolio which are down at the moment. The people who are in this trading space understand and take this as normal, its only about new people who come into market, buy something and if in next few hours, it goes down they do panic selling and out of market.
The coins(Signals) we post into the group are the projects with strong development team, good marketing strategies and above all (Community) behind them. We will never post any C**P coins with low volume (Which 97% of other Telegram channels) post. They pre-buy these shit coins and set sell orders and then post some random news about it. People rush to buy that coin and in result, they lose money. You know it very well what channel I am talking about. This gives Pump affect to that coin. Stay away from them.
It seems like BTC is ready for another ride. Alts market is not stable right now . Be in Btc for some time . Use minimum funds to buy alts dips which has upcoming announcements- hard fork / rebranding in this month
LEND won community voting and ready to getting listed on binance in next few hours