Major CC's update

srezz(48)

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#cryptocurrency

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2017-11-05 09:07

My daily chart high probability targets are valid for 12 days and it is time for an update.

BTC

Bitcoin is relentless in its upward momentum and moves up regardless of any technicals. It is, however seriously overbought at the moment and the longer correction is delayed the more violent it will be. On a daily chart, I have no price reference points to produce an up target. It's nevertheless quite easy to expect it to target $8K. Also, the daily chart displays a clear rising vedge in its final stages when the price breaks up its upper border and goes exponential. Upon hitting 8K I still expect BTC to pull back to the lower 5K.

https://www.mql5.com/en/charts/7852781/btcusd-d1-simplefx-ltd

The ALT CCs are all in clear ranges with no enough momentum to either side with all major WMAs aligned horizontally which signifies neutrality and readiness to develop either trend once the range gets broken. At this stage, though in most cases the daily volatility implies targets within respective ranges.

ETH

https://www.mql5.com/en/charts/7852805/ethusd-d1-simplefx-ltd