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BTC & BCH dual update 27th Nov 2017 [BTFD]BTC still climbing may have hit a top at 9700 area but will restest for sure, its still within the white Gann Fan area so sticking by the fan this height for bitcoin can go much higher especially if it is parabolic like some experts are predicting Bitcoin to goto $180k, so i would start a small HODL of bitcoin just incase. (also make sure your exchange accounts are verified just incase u need to take out large sums of money) BCH has a golden cross and failed its rise to over 3k yesterday due to huge volume going into bitcoin, still sticking within patterns and support, just waiting on BTC There was bit of a dump back to 1600 area but massive support holding it, its worth getting some as low as possible
B
by majorlee
1
BTC pushing up against resistance. Waiting for confirmations.In the 4 Hourly graph we can see price action meeting resistance around the $5800 mark. This is shown by the blue box market ‘ resistance area ’. There has been strong buying action at $5400 market as ‘ Potential support No.1 ’. If enough buyers accumulate then it should push the price past $5800. In this regard if the price pushes strongly past $5800 then the up trend should continue. The general direction of the trend is marked by the three moving averages. The stochastic is falling but the price remains high, indicating continued buying pressure. If the price falls past the first support then the second area ‘ Potential support No.2 ’. Should come into play, with the moving averages coinciding with the recent highs as support. At the moment it almost reads like a 50 / 50 chance of a breakthrough versus and fall through. Overall though the trend is bullish with some short or medium term selling pressure. Therefore I’m waiting for a better time to enter, where my risk to reward ratio is much better. If the price suddenly spikes above $5950 before retracement then I may enter.
BITSTAMP:BTCUSD
by Quadricolor