Here is the daily BTC chart as of 7:45pm PST. If you have viewed a few of the past posts, you would have known that the 200 dma in blue was a price target for the downside.
Well it reach it this early morning (PST) and made a quick reversal. The 200 dma was also at the November 2017 high of 7900 and at the lower trend line as seen on the chart below.
A closer look at the daily chart still shows the bearish red Heikin Ashi bars and the spike low to the 200 dma. In order to produce a daily bullish trend, it will first need to trade above the 10,400 level which was the December 2017 spike low on the GDAX exchange.
On the 4 hour chart, you can see the high volume bars around the selloff low and buy in reversal.
Can BTC go lower or was the 200 dma the bottom of the downtrend? No one really knows, but IMO that level was significant enough on a technical level to be the bottom for the 2018 year. (Just my opinion which is like anyone else's opinion)
Here is a chart of the last 3 months for the Mempool (Unconfirmed BTC transactions). The Mempool has declined quite a bit from the huge peak on Dec 22nd. (So your transaction should be confirmed within a few minutes)
The average fee has dropped to ~$8 or so...
The weekly US Dollar chart shows the breakdown below the 91.92 and 91.01 levels. The next support area is 84.75 which was produced back in 2013. (5 years ago! What were you doing???)
The weekly gold chart shows a few of the previous highs that it needs to break above to continue the uptrend.
The daily gold chart shows the resistance level around $1357. If the US Dollar continues to drop in 2018, these levels should be easily pierced and Gold should continue the uptrend in 2018.
The daily US Dollar (Blue line) vs Gold (Gold line) and their inverse relationship. They are correlated fairly well and I do not anticipate and deviations going forward.
Happy Friday!
I love the transaction charts you’ve included. Now following you.
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Glad you enjoyed the charts and analysis. Following back, I can always use additional BTC analysis from a solid source.
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I saw this today and just want to share it with you.
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Dan left Steemit to pursue his other project, EOS. But he may have also left because of Ned's actions.
There is all kinds of abuse on this platform and the witnesses as well as other influential whales just turn their heads.
Just look at Sweetsssj's voting, it appears that she has multiple accounts that she upvotes 100% on the 6th day, avoiding attention to the hot or trending lists. The accounts all send Steem to the same Bittrex account... My guess is that she is extracting about $6000 USD's per week on this platform.
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https://steemit.com/steemit/@clayboyn/an-open-letter-to-ned
This one has more details.
I used to buy votes from her and ned delegates her tons of sp to sell votes made me sick. Turned out I'm not alone. Someone did the math and from 12 accounts, she takes about $33.000 USD per week. Why should we buy into this?
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When it comes to money, there is corruption somewhere. From big business to government and the politicians. And us small people typically have the leftovers and sometimes the consequences of their actions. Look at the bank bail out after the financial crises in 2008, after the bankers got the money they gave themselves million dollar bonuses.
Extract as much steem as you can while you can, that is if you want too. It's just another crypto to me, in a few years just cash out and go on another vacation to Vietnam... =)
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Hahaha
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It's good understand these chart and good source to understand market
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Glad you enjoyed the charts, thanks for stopping by the blog.
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thank you for sharing information
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This post has received gratitude of 2.75 % from @appreciator thanks to: @glennolua.
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You got a 4.16% 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 the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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