BTCUSD- Kumo Cloud Suppression with Double Top! Trade Carefully!

2018年11月29日

BTCUSD 4hrs (Bitmex)- Kumo Cloud Suppression with Double Top!

Fundamental Analysis
- Jeff Sprecher, chairman of the New York Stock Exchange, says bitcoin and other digital assets are here to stay.
Sprecher is also CEO of the Intercontinental Exchange, which is teaming with Microsoft and Starbucks to launch Bakkt, a company that will facilitate bitcoin futures in January.
- Other than that we have no FA news to boost the volume of BTC.
- BCHSV Hashrate is increasing as we speak- dated 29th November 2018 (16:00 GMT+8).


Technical Analysis
- Scenario 1: We see BTC dropping to $4094 range causing a double bottom formation and therefore moving the market upwards again towards $4307
As a result of this movement, a double top is form at the orange line thus it triggers a dip towards various possible support level with the lowest at $3742.

- Scenario 2: We dip through below the Kumo Cloud and drop all the way to $3742 and consolidate at that support level.

Strong Resistance at: $4240 to $4250 levels (0.618Fibs and 0.382Fibs respectively), we will have to breach $4307 level.
Strong Support at: $3956, $3742 if not psychological level at $3500.
Note: We are reaching the end of the week and Friday is usually a take profit day.

For more news and the latest update on the market, join our CG Marketwatch Telegram Channel: t.me/cgmarketwatch


Cheers,
JJ Andy
Co-Founder & Operations Director @ CG

2018年11月30日

註釋

BTC did take a slight dump on us as BCHABC and BCHSV hashrate continues to pick up.

Head and shoulder was formed on 4hours with candle trading below kijun-sen line. Chikou span is also heading downwards.

RSI is showing a double top situation as well together with OBV dipping.

Support: $3940 & $3870