Crypto’s Update

Bitcoin had a cracking weekend breaking the $9,000.00 mark. It could even push a little higher before it sees profit taking. Some have been saying that the demand is related to the mid December start of the Bitcoin futures contract. I don’t see why that would be because the futures contract is cash settled.

I like to look at the Google Trends. When you do a search for ‘how to buy bitcoin’, the search results have a stunning accuracy for picking tops and bottoms. It looks like interest in how to buy bitcoin is starting to top out. See if this corresponds with a short term top in the price. The bottoms when people have lost interest have been incredibly accurate at showing a buying opportunity. I would not rely on this to trade from, but interesting to see the madness of crowds in action.

Google Trends search: How to buy bitcoin

Bitcoin daily. Should see a retracement at some point back to the weekly kijun sen which is also the 100 day MA. Has been a very reliable level for support.

Litecoin daily breakout

Ehtereum daily breakout.

Monero daily breakout

Dash daily strong

 

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