The Litepresence Report on Cryptocurrency

[presence]

possible breakout, we could see 660 by noon

 

[presence]

possible breakout, we could see 660 by noon

BOOM

 

[presence]

Charts on big screen this morning

honey badger algo still hodling

 

[kfarnan]

are you a prophet?

 

[fatjohn]

I like money

 

[presence]

breakout to the north side of the bull flag at btce; I'm looking for another $20-$25 measured move toward high sixes this evening.

 

[FSP-Rebel]

The 1-week Bitcoin/$USD chart correction is nearing completion. That chart range started correcting around the end of July when the big dump-down from the 5180 Hobular high occured.

That correction also painted the handle onto the humungous 3-year cup and handle formation thats been forming since the 2013 China-driven $1200 ATH.

The timing of events seems to be pointing to a perfect storm towards the end of the year, possibly consisting of Lightning Network arrival, Segwit, BTC Developer & mining consensus putting previous confrontations to bed and an array of chart technicals going green. Things would then be in place for the Wrinklyboss ETF to turn up and light the touchpaper on the tinder pile.

 

[presence]

this ain't no cup and handle its a damn cappuccino grande

I have this itching feeling we'll see $2500/btc in 2017

 

[FSP-Rebel]

Hobular market moves afoot again.

It's reaching for that Oct 23rd 4575 shot. 2-Hour momentum moveing average crossing over. If that pushes the 4-hour chart into the green then it may have a chance.

The expectations are there at least. Alts are dumping.

*****

We're up to 4550 now. 25 to go. Volume coming up....4560...

Looks up

 

[FSP-Rebel]

...thats it. We've broken out of that little 3-day correction.

Bears were not able to push it down enough to correct beyond the 4-hour chart which is now about to turn positive again. Lets see what happens now. We need that 5180 for escape velocity.

 

[FSP-Rebel]

Then bearwhale dumps, back where we were essentially.

 

[FSP-Rebel]

$662BTC

 

[FSP-Rebel]

All western exchanges back over $670.

 

[FSP-Rebel]

From early this morning:

 

[FSP-Rebel]

From above picture it is clear that, shortly after the bottom was confirmed for the third and final time, bitcoin has been in an incredible bull market ever since. With recent support holding and the MACD suggesting positive momentum, it seems like said bull market is here to stay. Start trading below our SMA and things will be negative.

Now this looks like a cup and handle breakout pattern to me. Not only was ~$680 resistance just a couple of months ago but also in 2014, after it had acted as a level of support in 2013. Also, this price level coincides with the lip of our cup. So a new break above this resistance is very relevant.

 

[presence]

of note, that rattle you get at 41.5 to 42.5 as resistance becomes support on the top side of the handle; the touch back

that might work out to be a rattle in the $775 to $875 range a few weeks out if this trend continues past the rim of the cup

possible 10%^3 hat trick

 

[presence]

I'm looking for another $20-$25 measured move toward high sixes this evening.

took 48 hrs more than expected, but here we are; I'm hodling

View attachment 5314

 

[FSP-Rebel]

Needham Raises Bitcoin Price Target To $848: Here's Why

With bitcoin breaking out of its recent trading range as Chinese buyers once again flock to the currency as the Yuan slides (as we predicted over a year ago they would), even Wall Street analysts are starting to pay attention, and in a recent report by Needham's Spencer Bogart, the analyst has raised his price target on the digital currency from $655 to $848, due to "1) adoption trending faster than we forecasted in March, 2) improving fundamentals, and 3) upcoming protocol improvements that present attractive optionality for the price of Bitcoin. At the highest level, we continue to see value in Bitcoin as a "digital gold" and as a payment network that is enabling a global, open, permissionless financial system."

Wait, bitcoin has fundamentals? Why yes, and here is Needham's extensive breakdown for why bitcoin is set to rise substantially higher, but first, the Investment Thesis.

* * *

Bitcoin is a decentralized, borderless, peer-to-peer, electronic cash system that is disintermediating and removing friction in the exchange of value by enabling fast, low-cost, global, peer-to-peer payments.

Similar to how the internet created a global open network for the exchange of information, so too is Bitcoin and its underlying “blockchain” technology enabling an open and global network for the exchange of value. For reasons addressed in this report, we see Bitcoin and its underlying technology as among the most significant innovations in payments and money in recent history.

More...http://www.zerohedge.com/news/2016-10-27/needham-raises-bitcoin-price-target-848-heres-why

 

[FSP-Rebel]

Bullish?

https://en.wikipedia.org/wiki/Swiss_Federal_Railways

A state owned company with 33k employees and around $8 billion turnover starts selling bitcoin in all of Switzerland.

https://www.sbb.ch/en/station-services/services/further-services/bitcoin.html

Here you have - out of the blue - the biggest seller of bitcoin worldwide, a federal railway company.

 

[FSP-Rebel]

Derivatives Giant CME Sets Launch Date for Bitcoin Indexes (13 November)

http://www.coindesk.com/cme-launch-date-bitcoin-indexes/