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

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.

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...

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

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:

 

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 !

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

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 !

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 

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

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! ????