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IQ_Option
Number of messages : 186
Points : 1020
Date of Entry : 2016-03-03
Year : 37
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Bitcoin Weekly Analysis

on Tue Nov 21, 2017 12:32 pm
After the cancellation of SegWit2x, disappointed investors were pulling their money and we saw a huge drop in the value of Bitcoin and a surprising rise in the Bitcoin Cash value. But soon Bitcoin value stabilized and this past week the coin gained an incredible upward pace. Also, the digital token recorded a new high after going beyond $8000 mark. Also with this bull, the market cap of the coin went beyond $130 billion.

Key Highlights:
The bullish coin touched $8000 for the first time but without stopping at that level it went up to $8260.Though the token faced many resistance levels in the bullish journey consecutive support levels also formed.Bitcoin is testing the $8000 level resistance again and hopefully will breach it.




Jumping into the weekly chart, the growth is gradual and steep in the early week. Even though after the early week boost, the coin faced resistance $6700 and became stagnant, ultimately it breached the resistance without any dip. After gaining the upward pace again, the coin jumped from $6600 and touched $8000 for the first time in mere 36 hours. But as usual, the token faced resistance at the peak and took a downturn. After a dip to $7450, it found a support and that level also acted as a pivot.



In its bullish journey, the coin again faced resistance at different levels, but new support levels formed as well.
Considering the daily chart, the coin finally breached the $8000 resistance with a rage among the buyers and went up to $8260. But again, it faced another resistance at that peak. Though the token tried to hold the value and tested the resistance level for a while, it finally took a dive $7800. Currently, the new support level is holding the coin and pushing it back to recover.The recent drop in the value forced the technical indicators to take a bearish turn. But also because of the support level, signs of recovery can be seen. Stoch is taking a U-turn after dropping to the overselling mark. Similarly, RSI is also moving up after touching 13 percent. 100 SMA is also above 200 SMA indicating the least resistance to be upward.



Bitcoin faced a lot of criticism for many eminent personalities, mostly bankers. But still, the coin continued to prove itself and is also gaining a huge popularity in the society.



Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.


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IQ_Option
Number of messages : 186
Points : 1020
Date of Entry : 2016-03-03
Year : 37
http://affiliate.iqoption.com/redir/?aff=27972

Re: Bitcoin Weekly Analysis

on Tue Nov 28, 2017 8:20 pm
They say the sky is the limit, but Bitcoin is on its way to breach that limit too. The first digital token broke all records this week on its way to touch $10,000 mark. It achieved a recorded high beyond $9900 and is still soaring strong. As a result, the market cap of the coin reached above $166 billion. Even the trading volume in the last 24 hours is above $5.5 billion.

Key Highlights:

  • The bullish coin is recording a new high every moment and is on its way to touch $10,000
  • Week-on-week, BTC/USD gained 22.5 percent and 2.7 percent in the last 24 hours



After last week’s bullish streak, this week started at a steady pace. Till the midweek, there was no substantial gain or loss in the value as the coin was holding its ground firmly above $8000 and was trading between resistance and support level at $8300 and $7960 respectively.


But in the midweek, the token suddenly gained pace and started a bullish upward movement. Without any prominent resistance and with the support of a strong trend line, the coin was breaking all records and reached above $9800.

In the daily, Bitcoin maintained the bullish pace and gained a new high above $9800. The token is forming triangles above the trend line and gained 2.7 percent in the last 24 hours.

With this bull, the technical indicators are also no doubt running bullish. But Stoch and RSI are way past the overbuying mark. This might lead to a short-term dip. MACD is also running bullish after the recent crossover.


Bitcoin has a lot of critics on the market and lot of them predicted a fall of the token. But this meteoric rise of Bitcoin proved them otherwise.



Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.


avatar
IQ_Option
Number of messages : 186
Points : 1020
Date of Entry : 2016-03-03
Year : 37
http://affiliate.iqoption.com/redir/?aff=27972

Re: Bitcoin Weekly Analysis

on Tue Dec 05, 2017 5:36 pm
It seems nothing can stop Bitcoin. Like always, the coin climbed up this week setting a record beyond $11,000. And most importantly, it found a stable ground around the peak. With all the bullish move, the market cap of the coin reached above $195 billion. It is now bigger than the GDP of many countries.

Key Highlights:

  • Bitcoin touched an all-new high above $11,500 this week
  • The coin found a stable ground above $11,000 and also is testing the peak resistance


At the start of the week, the coin had an upward rally and reached $10,000 for the first time. And after touching that mark, it rallied to $11,000 within a few hours due to the high demand. But at that peak, it could not hold the value, and the coin took a nose-dive to $9500. Even though the coin recovered quickly from that pitfall and reached $10,500, it dived again to reach $9000.

The coin then found support between $9000 to $9400, which also acted as a pivot and initiated an upward run. A midweek buying rage took the value again above $11,000. Though the coin again faced resistance at $11,150, this time a support level also formed at $10,800 checking any dip in the value.


The token took another leap and reached $11,750. It tested the peak resistance for a while but ultimately dropped to $10,875.

The coin recovered quickly from the pit, but resistance above $11,600 prevented any further rise. Currently, the coin is testing this resistance with a support at $11,150.


With the bullish streak of Bitcoin, the indicators are also running bullish. Stoch is running around the overbuying mark, and RSI is at 60 percent. Though MACD is running bullish, it is getting stabilized. 100 SMA is still above 200 SMA indicating an upward least resistance.



Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.


avatar
IQ_Option
Number of messages : 186
Points : 1020
Date of Entry : 2016-03-03
Year : 37
http://affiliate.iqoption.com/redir/?aff=27972

Re: Bitcoin Weekly Analysis

on Tue Dec 12, 2017 2:21 pm
It seems Bitcoin’s rally has no celling. Every week the coin touching a new high and this week was no exception. The coin is also gradually entering the mainstream economy, and this week the first Bitcoin futures has been launched in the US market. Many major businesses are also starting to accept bitcoin because of the growing demand.

With all the rally, the market cap of the coin reached above $282 billion, and if such rally continues, it will soon touch $300 billion. The trading volume also skyrocketed, and in the last 24 hours, it was above $12 billion.

Key Highlights:

  • Bitcoin touched an all-new high this week above $17,400
  • The coin is stabilizing above $16,500 with support around $16,100
  • BTC/USD gained 45 percent around the week and above 8 percent in the last 24 hours



The week started above $11,000, and even with a gradual rise, the value was limited to $12,000 for almost 36 hours. But all of a sudden, after crossing $12,000 a steep bull took over, and the token crossed $17,000 for the first time in just the next 36 hours. But the peak resistance pushed the price downward.

Though the bearish run tried to find support at different levels, BTC/USD value dropped below $13,000 before it pivoted. Another bullish run took over the token from this pit. This went mostly with the introduction of the Bitcoin futures. This rally took the price to another new all-time high above $17,400.


BTC/USD pair also seems to be stabilizing above $16,500. Support around $16,100 has also formed.

Because of the recent stabilization of the token around the peak, the technical indicators are also stabilizing. Stoch went down from above the overbuying zone to around 56 percent, and so is RSI to 55 percent. MACD is also stabilizing after a bullish run. 100 SMA is still above 200 SMA indicating an upward least resistance.


Bitcoin has many critics in the market, and still many are saying that it is a bubble and will soon burst. But whatever may be the case, people are making huge profits with the soaring value, and it is also entering in the mainstream economy.



Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.


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