UnknownUnicorn30297

UnknownUnicorn30297

I have updated the values of the bitcoin production cost indicator for the Chinese province of Sichuan (35% of hashrate share) where the cost of electric current does not exceed 1 cent per kilowatt hour. For a miner located in this Chinese province the cost to produce a whole bitcoin does not exceed 4000 dollars, this price falls within the support area of my kama...

UnknownUnicorn30297

The situation hasn't changed much since the last update apart from the halving that brought the average cost of mining 1 btc to $13500, it's an average world value but it means that at the moment few miners are at profit. Considering the minimum possible value of the CBEI index the cost to mine a single bitcoin drop to 7400$. Few miners are at profit at the...

UnknownUnicorn30297

Short-term market conditions are flat, above $10,600 confirmed the continuation of the upward trend, below $8,000 the view remains bearish up to at least $7,000.

UnknownUnicorn30297

I think the next high on the monthly chart could be in the price range between 14 and 24 thousand dollars. The price of a single bitcoin is back above the production cost so, at least temporary, for the miners the situation has relaxed a bit. With the next halving the production cost for 1 btc should rise to 15 thousand dollars so it is plausible that bitcoin...

UnknownUnicorn30297

I revised the long term Kama Support Area using deviation bands, these levels are good for the next couple of months.

UnknownUnicorn30297 Updated 

For the first time ever Bitcoin is slowing down its uptrend (perforation of the lower confidence level of my bitcoin price mode), the most interesting support area remains the deviation price bands of Kama average applied to the monthly chart. This price zone run from 2900 to 4000 usd. Below 2900$ trend is 100% bearish; at the moment we can consider FLAT this...

UnknownUnicorn30297

I modified the original indicator to have a production cost of a single bitcoin updated to today. I believe that this value will act as support.

UnknownUnicorn30297

The next top on the monthly chart should be between 14 and 24 thousand dollars. Very important to exceed the June 2019 Top at 13800$ which coincides with the first Kama price bands. The bottom at 6400$ appears almost confirmed if in February bitcoin will not give back the recent gains. This minimum is within the error bands of my bitcoin price model v1.1

UnknownUnicorn30297

I get a lot of private messages about where to short selling etherum, here's my answer. Same concept can be applied to other scamcoin as well, use kama deviation bands to identify the pullback resistance zone.

UnknownUnicorn30297

The market I think will not break the 8400$ resistance level at least in the short term, should remain flat in the coming days. A break above the 8400$ level would confirm the upward short term reversal. It should be noted, however, that the last bottom has been done INSIDE the error bands of my bitcoin price model, version 1.1 and it could be an important long...

UnknownUnicorn30297

It's pretty obvious looking this chart that next key support levels are the FairPriceLine (5500$ this month, look my bitcoin price model v1.1) and its 95% lower confidence level (4200$ this month). 18 months kama average 1st lower price deviation level is at 4200$, providing support; as i said I expect the next bottom to fall inside the 4200-5500 usd price...

UnknownUnicorn30297

There is not much to say besides my notes of the daily chart, short-term trend remains bearish and we can not talk about reversal in the coming days if bitcoin does not exceed the upper band of the Kama average at 9400 dollars. The last bottom has been done inside my bitcoin price model v1.1 95% confidence level bands, we could see a further lower bottom but the...

UnknownUnicorn30297

As I said in the chart I'm pretty sure we won't see the price go below $4200 in the coming months.

UnknownUnicorn30297

We are moving towards an important support area, the static one identified with weekly average Kama price deviations and the dynamic support price line defined by my bitcoin price model (FairPriceLine). I expect to see buyers between 5700 and 7400 dollars in the next weeks/months.

UnknownUnicorn30297

As you can see in the above chart the situation is still uncertain, after a bottom done on the second support line of my Kama indicator (using as volatility factor 20 instead of 10) this market has had a violent reaction from the support. The situation for me remains flat waiting for btcusd to return above 11 thousand dollars confirming an upward reversal. If a...

UnknownUnicorn30297

Bitcoin Fair Price Line (FPL) is roughly at 5000$, by the end of the year it'll be at 5800$. It's a good support line that always worked in the past since 2010.

UnknownUnicorn30297

On the daily chart at the moment the bitcoin has returned bearish. The efficiency ratio of the Kama indicator has exceeded 0.30 which is the threshold that separates a flat market from a trending one. At the moment we are at 0.47 and this confirms the bearish movement in place. Usually when the efficiency ratio reaches 0.7 and sometimes 0.8 the market top or...

UnknownUnicorn30297

I think we are seeing a rebound of altcoins that could end when bitcoin dominance will touch the support at 69.9%, only below this level we might see a more significant rise of altcoins.