Good day traders!
Good news for BTC hodlers, Bitcoin hits 9K and ETHUSD hits another all-time high at 483, while at the same time, Bitcoin energy consumption rises to enormous propertions.
As powercompare.co.uk points out, if you add Bitcoin to the list of energy consumption by countries, Bitcoin would rank a whopping 61st. Bitcoin mining globally tops the power usage of 159 individual countries.
Read the full story here on Powercompare.co.uk
More of Bitcoin. One of South Korea's largest banks, Shinhan, is in the process of launching a Bitcoin vault and wallet. Why is this big news? Because it's the first major bank to offer BTC storage directly. Catch up on the story on Bitcoinist.
News dropped by Crypto Korean on Twitter
Coinbase, the largest US BTC exchange adds over 100K accounts over the long Thanksgiving weekend! And as we're so close to the imminent lauch of Bitcoin futs by CME, this is significant - the interest is real. Story here
Via CNBC
Basically the rise in Coinbase users over time is almosty as parabolic as the price of the asset in question itself :)
What's happening next week, marketswide? Here's the heavy-hitting upcoming data
Via forexfactory.com
On Nov 30 is the major OPEC meeting (the calendar shows Nov 29 - needs clarification). Why is this a big deal? Check ot the oil graphs. We're so overextended, any disappointment could create massive kneejerk reaction and see us dropping a couple dollars easily. Any cuts could also be priced in.
WTI oil weekly chart. We have hit the long anticipated 200-week moving average
WTI oil daily chart. Long term trendline touched
We are diverging with relative stregth on the H4 chart
EURUSD - almost perfect, looking for some pullback before we take on 1.20. Buy on dips, not at market.
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Thanks for reading this update. For the upcoming week, I'm interested in all thoughts about OIL and EURUSD, bullish, bearish, whatever, so keep me in the loop.
Be prepared and trade safe! Enjoy the rest of your weekend!
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