Already the final workday of the year... and boy o boy what a year it was!
Bitcoin went mainstream. It is even selected for word of 2017!
... Or what about'HODL'... just amazing isn't it?
Back to some Technical Analysis.
Below the 4hr chart
Key numbers:
$16.550 R
$11.450 S
A clear wedge is visible on the 4 hour chart. We need to see a close above $16.550 in order to test recent highs of $20.000
When do you think we will see 20K on the border? I think in the first quarter of 2018.
I want to point out another interesting development and that is the Bitcoin addresses distribution. I've added the distribution from last week.
I've done some analysis over the last couple of weeks and noticed that the distribution is developing like a more mature market. It looks to me that big holders have sold some of their holdings during the last bullish run up.
Look closely at the holders with 0,1 - 1,0 in 2018.My guess is that the total number of Bitcoins in this class wil expand dramaticlly and that means that adoption continues and the market itself becomes more mature.
Going forward in 2018 we will see more than one ETF tracker being launched. The SEC just can't deny it anymore. This will make it even more attracting for people who invest for their pension funds in the long run as they will also starting to invest in CC in order to diversify their risk.
One last thing. The last drop was made spectacular that Bitcoin bubble came to an end, well let's look at some facts and numbers to close the year.
Below results in percentages over 2017
I wish you all the very best or 2018 and want to thank every one of you for your support. We keep in touch!
makeithappen