Bitcoin may hover above $4,795

[webfact]

Bitcoin may hover above $4,795

 

FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration

 

SINGAPORE (Reuters) - Bitcoin has found a support at $4,795. It may hover above this level or bounce toward a resistance at $5,151.

 

(Graphic: TECH/C -

 

The support and the resistance are identified respectively as the 100 percent and the 86.4 percent projection levels of a downward wave (c) from $7,411.85.

 

Given that both the former supports at $5,412 and $5,151 temporarily stopped the fall, the current support looks stronger and may trigger a bounce.

 

A break below $4,612 could cause a loss into the range of $4,177-$4,413.

 

(Reporting by Wang Tao; Editing by Rashmi Aich)

 

-- © Copyright Reuters 2018-11-20

[janclaes47]

Think Mr Wang Tao should look for a job as weatherman.

 

Bitcoin has for close to 6 months been around the $6400 level, so where he gets his $7411 number from is a mystery to me.

 

As for his predictions, well yeah when I look out of the window it seems as if we gonna get sun today, but it may rain as well.

[Brunolem]

It may, or it may not...

 

But it certainly won't hover above $ 100,000!

 

And Mr McAfee will soon eat fried sausage while counting his losses...

[wordchild]

$4247 as i write this, down more than  20% over the last 24 hours; its certainly not hovering! 

[Oxx]

6 hours ago, janclaes47 said:

where he gets his $7411 number from is a mystery to me

 

It's apparent from the image which is missing in the original post:

 

[Dumbastheycome]

lol.  The original drone  has lost power.

Yet the concept  has  gained. 

"Official " crypto  will wipe out  the players who introduced  it.

And buying into that will not be  for the riff raff ! No no. That will be to an exclusive advantage of the  priviledged. The world  it is a changing !

[janclaes47]

2 hours ago, Oxx said:

 

It's apparent from the image which is missing in the original post:

 

So since the end of July it has been at $7411 for 2 full days, and all the other days lower

[Dumbastheycome]

13 minutes ago, janclaes47 said:

So since the end of July it has been at $7411 for 2 full days, and all the other days lower

It's  one !

[Skeptic7]

These "currencies" have been unrealistically over-inflated since 2013. This bubble has been in burst mode for near a year and the steady leak continues as many of us predicted. The big question with only one answer is...what can Bitcoin (or any other crypto) do at $10,000, that can't be done at $1000 (or $100 or $10)?

 

Answer: Nothing 

[Scottjouro]

1 hour ago, Skeptic7 said:

These "currencies" have been unrealistically over-inflated since 2013. This bubble has been in burst mode for near a year and the steady leak continues as many of us predicted. The big question with only one answer is...what can Bitcoin (or any other crypto) do at $10,000, that can't be done at $1000 (or $100 or $10)?

 

Answer: Nothing 

Answer nothing for crytos with no proper use case eg BTC etc,

 

but for XRP ultimate price will have a big influence on stability and liquidity of the asset... ie if for example Ripple take even 10% of SWIFTs business, using XRP, a higher XRP is required

[Ks45672]

On 11/20/2018 at 7:13 PM, Dumbastheycome said:

lol.  The original drone  has lost power.

Yet the concept  has  gained. 

"Official " crypto  will wipe out  the players who introduced  it.

And buying into that will not be  for the riff raff ! No no. That will be to an exclusive advantage of the  priviledged. The world  it is a changing !

Username checks out! ????