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November 27, 2018 | Bitcoin Near Support, Bitcoin Cash Crash: Where to from Here?

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

Technically speaking, the chart of Bitcoin looks god awful. Each bounce has been feeble compared to the prior decline. The above chart is from yesterday but it hasn’t changed much. Bitcoin is $3797 as I type. It bounced from around this level a couple days ago to $4125 and here we are again. The first level of support is just a bit lower. Weekly Chart Support Levels $3505 $2053 $991 $778 $551 $370 $216 Those are simply areas from which Bitcoin bounced previously from pullbacks. It’s not a prediction that it will necessarily do so again. As bad as that chart looks, consider Bitcoin Cash. It forked off Bitcoin and still maintains it is the “true bitcoin”. Bitcoin Cash Crash ​ Chart from Coin Market Cap. Bitcoin Cash Recent Crash ​ Don’t stick a fork in em yet. Cryptos are likely not done falling. Mike “Mish” Shedlock

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November 27th, 2018

Posted In: Mish Talk

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