BTC Daily Market Analysis - 12/30/2017 - Looks not so good!
Hourly Chart:
If the $12,900 support level does not hold for BTC, we are looking to see a BTC price dive soon. It is unlikely to hold by my approximation because this is the third test coming off a failed rally. This means the day traders are going to favor selling out their positions at this level rather than buying... especially without any news to drive the market higher.
My target area for BTC in a dive is anywhere from $9k USD up to $11k USD.
Now, here is the deal guys, when the market tanks, those of us with cash for buying coins need to be shopping!
My Shopping List:
- EOS at $5 USD
- Steem at $2 USD
- BTC 10k to 9k USD (I would rather buy Steem or EOS)
PS - Cardano is a trash coin that moved itself in to 5th place.
I would tend to agree we're about to see more of a slide. I think a pretty solid footing for BTC would be around 8-10k. But I don't think it stays there for long. I'd like to see more prolonged sideways movement to build support before moving up again.
I think we just need to get through this weekend to avert a crash and some optimism might return in the new year. EOS is on my shopping list too. Would love to get some at $5.
Totally unrelated, but is your 'follower of jesus' tag ironic?
If not, there is an interesting idea(directly related to you as an investor) of the concept of 'prophecy', not being some sophist metaphysical concept, but rather something directly applicable to science(and prediction); i.e using truth('data') to make forecasts and the like.
Anyways, I'm a fan of yours from South Africa and I love all of your analysis ( and measured advice).
Upvoted and followed,
Best,
C
Well unlike most other Christians I had ever met before I was lost, I am the type of Christian who knows Jesus is real. I met God, he yanked me up to heaven in a vision once when I was not a Christian. None of the vision made any sense until I became a Christian and read the Bible. The whole vision was full of Biblical concepts that I was ignorant of. Then there is the miracles I have seen.
What I don't bother to get into is that a lot of my advice comes out of my relationship with God. That Steem call I made in late November was a God deal, I got it while taking a nap. Went up 300% afterward.
I don't talk about this a lot because the point of my media content is not to shove Jesus on everyone, but Jesus is an important part of what I am doing.
That just opened up a whole new demension on your content. So glad you shared that!
EOS at $5 USD perfect choice i too have set alerts to buy at that price :D
How I see it is that btc and bch and ltc is dropping likely cus people are buying ada (Cardano). Ive looked a little into that one and you might say im now on the fence about it since you called it a shitcoin. Why do you considder it a trash ? Do you see it as a similar coin to Ripple?
Also longterm i see BCH gaining in relation to BTC and unless BTC sees large improovements far beond segwit and the lightning network or increesing the blocksize to 2MB, Its likely to be replaced by bch or the next upcomming fork.
No, Ripple has the whole Japanese banking sector looking at it, or already implementing it. No one uses Cardano. See my other comments on it.
Yeah my goal in the new year is to fill my bags with EOS and Steem and then just keep putting some BTC away.
Im sure bitcoin will rally anytime now... It keeps on holding on...
Your technical analysis is amazing man
Second that!
I really think you are pretty wrong about Cardano. The tech is solid and the team awesome. Now Ripple is a trash coin. I think maybe that's what you mean.
Cardano team always talks about how their project and paper is peer reviewed and that's their selling point of the project. However, comes to research paper, 99% of them are trash and they all get peer reviewed(even published on better conference). Cardano want to build the next generation blockchain platform but I just don't see they have the qualified team to build it. Charles Hoskinson himself is a dropout student with no decent publications and work. Despite it is called Computer Science, there is really not much of science behind it, engineering need experience and man-power, not a fantastic vision writing on a piece of white paper. Besides, their choice of using Haskell is questionable, I can't think of another reason besides they want to brand themselves as "research oriented" blockchain. Just my 2 cents.
LoL... Ripple has users, though, that's why I like it. How trash the tech is doesn't bother me because as long as the banking users are happy to buy and use it, I'm liking it.
At 15 cents I was saying Ripple could hit 1 trillion market cap. People said I was crazy. Now it is near 100 bil market cap, 10% of the way to 1 tril.
Interesting thought about Cardano... research projects rarely get marketed and delivered to the market place as a viable business solution. All tech, no business sense equals failure. But I haven't seen the tech innovation with Cardano either, so I wouldn't give it anything on either points.
I agree on author's Cardano remark. Overvalued.
Even if we say that they will disrupt the markets no other company has received so high valuation (17bln USD!!!) being so far from the FINAL working product. It will take years to develop and implement it. Lets take Uber for comparison which is a recent great example of disruption, they raised less than 0.5bln USD in the first four years of operation from venture capital actually having a working product. Cardano can't disrupt the market in the coming year. It will take years to become a true disruptor if they succeed. Their valuation will definitely go down in short term.
It doesn't seem too good. Let's see if it can hold this level.
What are your thoughts on Cardano? I don't know too much about it other than it's also a ETH competitor.
My first thought on Cardano is that rank is no indication of quality of a project or number of users.