10 October update
Now we are above $4.480 it will be interesting to see if the momentum picks up.
If we do I feel comfortable to say that we will test the highs of early september.
Attached is the updated daily chart.
Have a great week and until the next update.
7 October 2017
The market is moving slow and is stable at the moment.
We registered a low of $4.133 and a high of $4.483 last week. Not so volatile as the previous weeks. In my opinion a good sign since we maintained $4.000+ levels
The EMA (Exponential Moving Average) numbers are:
EMA 9 - $4.275
EMA 55 - $3.962
It will be important that the support at $3.900-$4.000 will hold.
We have a new trendline that forms lower tops. If we break this then if we get enough momentum we should see a possible breakout above $4.480 with resistance at $4.700 and the next at all time high around $4.975.
Attached is the daily chart:
Last week media highlights:
Bitcoin making lightning based apps (LBA) possible (Developer, Osuntokun)
Interesting quote from Christine Lagarde, head of the International Monetary Fund.
“"Not so long ago, some experts argued that personal computers would never be adopted, and that tablets would only be used as expensive coffee trays," she said. "So I think it may not be wise to dismiss virtual currencies."”
Good luck all and until the next update.
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makeithappen