Hi all!

A short market update. Bitcoin is currently recovering considerably and is already almost 40% higher since the last low earlier this week.

Below 2 graphs.

This also concerns a new layout, in which ema 55 (yellow) and ema 9 (purple) can be clearly seen.

The EMA is one of my favorite and most reliable indicators together with the Stochastics. More about that in a later post.

If we build a new support around 12-13K we will see a retest of $17K very soon!

The recovery on the markets continues. I Wonder what the we will see going forward to February soon.

6 hours chart

Daily chart

makeithappen

Bitcoin market update 20 January 2018

What a week for all cryptos!

Bitcoin suffered to under the pressure of the market conditions in Crptomana. BTC dropped 50% from its top. I hear youy think thats *crazy, but did you know that In 2013 one time BTC dropped almost 80% from its top?

Yes 50% is huge, but given the fact that its not a mature market it will likely be not the last time. Its still very volatile, but as we see more money flowing in and reconginze it as an asset classe, the volatility will likely become less.

A statement we could make: you can't time the market!

But technical analysis and charting can make it more profitble to enhance your entries.

I've drawed some chart for this week update. In the latest 1 hour cart you see clearly that we hit the short term R line. In order to se see it from a broadfer picture I've zommed out starting with the weekly chart, 4 hour and at last the 1 hour chart.

A lot of things playing now.

regulation;
profit taking;
fomo on both sided;
scalibility problems;h
high fees.

Did you know that previous week 80% of all Bitcoins were mined. The rate keeps going up. As I write this update only 19,92% of al the Bitcoins left are availbe to mine.

IMHO carity will come in force sometime this year is my expectation.

Below the charts update

weekly chart

4 hour chart

1 hour chart

Market conditions

The total market cap dropped almost 50% (from 830bln to 410bln) last week. I see it as a healty correction and we are already seen a surge to $630bln. If we can maintain these levels for over a week think look quite good for the rest of the first quarter.

The number season for the corporates will begin this week. The stock have already priced in a lot of positive news and numbers. We could see a shift during this year from stocks to cryptos.

Also BTC is still the number one regarding crypto trade volume. Even if the BTC blockchain has scaling issues it begins to act as a sof Store of Value these days. If this trend continues we will see an all time high later this year imo. Best of luck all.

volume last 24 hours

Total martket cap

Wish you all a good weekend and until the next update.