Current Cryptocurrency Prediction:
- $NYXBT (Bitcoin), 11/20/18, bull trend signal. TSP (11/21)= 4409.72.
3-month chart. Current price for 4 symbol package = $7,500 quarterly.
Model notes: The was in good position for the November Bitcoin collapse, though the “catch the falling knife” buy (11/20 signal) was a little early, the downside momentum has dried up. The model is still in-synch with the trading.
Note: The following comments are based on using technical analysis to ‘flesh out’ our nonlinear trading signals. TSP is defined as the closing price on the day following the signal day.
Nonlinear Trading Themes:
- Bitcoin forecast ($NYXBT): The model “falling knife” bull trend signal was a little early but not irrelevant as following trading revealed the downside momentum was drying up. There are some associated positive fundamental factors at work here too. The recent stock market drubbing (flight to quality), interest rate drop (asset valuation enhancement) and financial stress for Bitcoin miners (at the sub 4000 level) are all in play right now. And the outlook for the trade currently? 6000!
GH Garrett – Chief Market Analyst for ConquertheMummy.com © 2015-2019, “Nonlinear trading signals that matter in bitcoin trading.”