[2016-11-14] Bitcoin’s Calm before a Storm?

[PHPSELLER]

The Bitcoin market is relatively unchanged from yesterday.  A bit higher but nothing remarkable.  Here is the 8-hour chart we looked at yesterday:



As we can see, the 2nd arc of the pair provided support, but the top of the square has been solid resistance.  This leads us to the recurring question traders ask all the time”  Which will give first? Resistance or Support?

Read More: https://www.cryptocoinsnews.com/bitcoins-quiet-storm/

[1Referee]

Calmth before the storm? The storm is over for this year. From this point, the price will be heading downwards in a slow manner where we close this year below the $700 level. It's amazing how people constantly keep expecting something to happen while we realistically can't expect much more than has happened already. Support is poor, people will slowly realize the price has no upwards potential anymore for this year, etc. Best is to continue holding, or secure profits if you made a short term investment. You'll be able to buy back at lower prices soon.

[Kprawn]

You can apply this model to traditional commodities, but Bitcoin is different... You have pseudo-anonymous Whales manipulating a

commodity/currency with very little effort. They create these little spikes and dips, and make a shitload of money creating this volatility.

Is this a "calm before a storm" situation building? Yes... but not because of the prediction based on your model. Look at Bitcoin over a much

longer period, and you will see a better picture.