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- Bitcoin (BTC) retains significant resistance
- Warren Buffet beats Bitcoin for the second time
After qualifying Bitcoin from Rat Poison Squared, Warren Buffet now says that this asset is a gaming device. Even then, Bitcoin is once again testing the lows of Q2 2018 and immediate resistance at $ 6,000, adding 6 , 3% last week.
Bitcoin price analysis
fundamentals
The Oracle of Omaha is back. Warren Buffet is perhaps one of the richest people in the world, but like most billionaires, including Bill Clinton, he rejects Bitcoin. Although Bitcoin is one of the millions of applications that can run from Blockchain, Warren claims that Bitcoin is a "gaming device" that "has not produced anything" and is full of controversy. Speaking to CNBC, here's what the admirable billionaire said:
"It's a gaming device … there have been a lot of frauds related to it. There have been disappearances, so there are many things lost. Bitcoin did not produce anything. It does not matter. He just stays there. It's like a shell or something like that, and it's not an investment for me.
Oddly, he compares Bitcoin with buttons by adding that "Bitcoin is sitting there" and he's going
"I'm going to tear it up here. What I'm going to have here is a small pledge … I'll offer it for $ 1,000, and I'll see if I can get the price up to $ 2,000 by the end of the day … However, the button is only used, and its minimal use. "
Nevertheless, Bitcoin is a proven channel that has made the transfer of international funds inexpensive and almost instantaneous. Global liquid assets are also becoming a store of value, a trustworthy asset that is global, with no foreign exchange costs.
Chandelier arrangement
On the spot, Bitcoin is one of the most successful, with 6.3% of the top 10 markets and only the Cosmos behind the top 15. Despite what Warren thinks of Bitcoin (BTC), this asset is a public service, and growing government support means that the resulting demand would push prices to a new high, exceeding $ 6,000, to reach $ 8,500.
It's easy to understand why. The candlestick arrangement so far is favorable for bulls as prices tend to exceed the trend line of several month resistances seen in the weekly chart. Although we need the BTC hikes to lead to conclusive prices in excess of $ 6,000 in the fourth quarter of 2018, BTC is under tremendous downside pressure.
From a top-down approach, November 2018 marks our business plan with an analysis of the effort versus results pointing to bears. As a result, traders who miss today's stage will also be sidelined until prices exceed $ 6,000.
Technical indicators
For a more accurate picture, November 2018, the bar anchors our business plan. Bulls have a chance, but to keep up the trend and confirm the April outbreaks, BTC must close above $ 6,000 with volumes over $ 954K.
Chart courtesy of Trading View
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