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RE: 12/1/2017 The Market View and Trading Outlook

in #bitcoin6 years ago

The volume tends to be trending down on the hourly and trading in an ever narrowing range which is indicative of money (mine included) sitting on the sidelines or holding onto a previous position (not me). The charts are saying we are about to head down, as we are still in overbought territory. It's crypto so it may go to 25k in the next hour, lol.. but unlikely.. I'm not really seeing consolidation and base forming as much as I'm seeing fear and uncertainty with a lot of speculative investors sitting high with their finger on the sell button if it goes south. As such I'm holding my original calls for the moment..

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Someone is accumulating a lot of LTC on a few exchanges.. 1000 LTC lots, at a time...? Baiting maybe to dump.. I'm not sure..

Really an epic, Bulls vs Bears battle going on with BTC.....

2000 BTC to go up 5 percent, 400 to go down 5 percent. Seems a bit top heavy and lacking support, and there is little volume. But the longer this goes on at the 10550 range the more of a support level it builds. I'm interested in seeing what the next hourly down trend brings in the way of punishment. If if holds above 10,000 there may be good news ahead.

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