Looking at the BTC charts this evening (PST in California, USA), it appears that the selloff is behind us. *But, BTC is still within the downwards channel and may revisit a previous low.
The daily chart from GDAX shows:
2 green Heikin Ashi bars - Bullish
Stochastics K&D lines are moving up - Bullish
20 dma under the 50 dma - Bearish
Price is under both 20 dma and 50 dma - Bearish
Price within the downwards channel - Bearish
A view at the 4 hour chart shows that BTC may be breaking through the 12,500 resistance level which is a bullish event.
The hourly BTC chart with my crystal ball price prediction. Price continues to appreciate and meets resistance at the 14,253 level, pulls back, meets it again, pulls back and the 3rd time it breaks through.
If price does break the upper trend line, I speculate that there will be a lot of buyers which may push the price aggressively to the upside.
Steem 4 hour chart looks bullish with the Green Heikin Ashi bars and the break through of the upper trend line. Go Steem!
Daily line chart of SBD in Red and Steem in Blue. There is a $2.69 difference in price. Quite a correlation over the last few weeks...
I took a quick look at the Steem Volume and noticed that the Upbit exchange was leading with $82.8 M. It appears to be a Korean exchange as Steem is trading with KRW. When ever I have looked at the Volume in the past, it was the Bittrex exchange that led by Volume... (The S. Koreans want Steem!!!)
So then I went to Google Trends and did a search for Steemit. S. Korea showed up in the #2 spot for the search for Steemit.
Even though the S. Korean and China governments have been stating that they may produce new laws regarding the purchasing of BTC, that has not stopped them over the last few days from trading/buying.
If the governments banned cryptos, I think they may be able to use the Torr browser to tunnel outside of their country to other exchanges if they really wanted to purchase. Some may setup Satellite Internet service to DL the blockchain and trade on exchanges. There will also be a 'black' market for BTC...
There is no stopping BTC or the blockchain
Your chart analysis is sound. What I like is that which you wrote. Totally in agreement.
There is literally no stopping. Smart people are gong to take control of the situation now and not so smart ones are going to regret not taking a position later.
You have my upvote
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Glad you enjoyed the post, thanks for the compliment... =)
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I sure hope the bad stuff is behind us! I took a big hit!
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Great update!
I hope BTC will break the resistance once it reaches the upper Chanel. Steem looks great.
Resteemed!
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Yeah, a lot of people want BTC to reach the previous high close to 20k!
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always remember where it comes from:
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You got a 5.97% upvote from @postpromoter courtesy of @glennolua! Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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This is a good idea
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Coins mentioned in post:
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Lets get ready to CRYPTOOOOOOOOOO!
https://steemit.com/crypto/@keepinitreal/what-crypto-are-you-holding-non-promotion-poll
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This post has received gratitude of 3.18 % from @appreciator thanks to: @glennolua.
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Great analysis. Looks like its breaking down again... Have to make sure the whales make their short future prices 😳
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If people want it bad enough they find a way, I agree no stopping crypto
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If the governments banned cryptos,
if they dint now, they never will be. they will just add tax when u converting into real money.
also, tax on every transaction you are doing in your country. in that case u don't have to pay tax when u converting into cash.
they don't care how u make money. they care about tax only
regulation is already there with tax in most of the developed countries. what u do online... clicking all day tabs who cares
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Great story - upvoted! I agree there is no stopping of crypto trading!
Please also read my story with similar content:
https://steemit.com/bitcoin/@ghaaspur/bitcoin-in-2018-and-related-topics
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