In yesterdays Steem review it was mentioned that the price may reach the upper channel line and either reverse back down or potentially break through.
Steem appears to have spiked up through the upper channel line to reverse quickly, but still has green heiken ashi bars trending to the upside. It may take one more day until we see the outcome of the move higher or the reversal down.
The year to date chart of BTC, can you say parabolic? BTC future will start this Sunday on the CBOE and on Dec 18th on the CME. Did this news provide the spark to ignite the BTC flame?
Looking at the previous few weeks, BTC is riding the upper Bollinger band with only a small pullback to the 50 DMA on Nov 12th. Technically it can continue to the upside as long as $$$ keeps pouring in.
At some point and time, it is going to correct and the selling will be brisk if history is any indication.
I'd like to provide potential pullback levels that I'm eyeing, but this is one of the most volatile assets in current history and the moving averages (50/100/200) and the fibonacci levels may not apply...
South Korea has a appetite for BTC as it is leading in volume terms. In addition to Korea, Japan and China are also investors in the virtual currency.
BTC currently has a 61% dominance for the market capitalization cryptosphere. You can see at the start of the year is was about 88% until ETH and the 'alt' coins started gaining ground.
Honestly I do not know how long the BTC rally will continue, it's one for the history books for sure.
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