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    [Daily Discussion] Sunday, June 17, 2018 Bitcoin Markets

    June 17, 2018

    [Daily Discussion] Sunday, June 17, 2018 Bitcoin Markets

    [Daily Discussion] Sunday, June 17, 2018

    Posted: 16 Jun 2018 09:06 PM PDT

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    submitted by /u/AutoModerator
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    [Altcoin Discussion] Sunday, June 17, 2018

    Posted: 16 Jun 2018 09:06 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

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    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
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    submitted by /u/AutoModerator
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    Bitcoin Price Analysis June.17

    Posted: 17 Jun 2018 03:52 AM PDT

    Bitcoin is still consolidating around the $6,500 resistance level, forming a triangle.

    Breaking it to either direction will probably lead a strong move towards the direction. Trading volume is low, as likely to weekends. Stochastic RSI is at its high levels – might indicate on a correction down which is needed.

    To summarize – Breaking down the triangle (~$6350) will lead a move down to the $6,000 zone. Breaking up the $6500 – 6600 resistance will likely send Bitcoin to test the $7,000 resistance level.

    BTC/USD BitFinex 4 Hours chart

    submitted by /u/tnashb
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    The cost of Bitcoin Production could unlikely be the bottom.

    Posted: 17 Jun 2018 08:31 AM PDT

    The current price ~6500 is about the cost of mining a Bitcoin as well.

    So it would be possible professional investors buy Bitcoin, because it is fairly priced in this area if you look at the production costs and compare it with investments in Bitcoin mining.

    I personally expect we will drop much lower (1300 - 3000), but it really would be possible Bitcoin is finding a Bottom in this area, just because of the cost of Mining a Bitcoin.

    It could be a great entry point for FIAT Whales / Whales of other Assets who also want to be in Bitcoin.

    submitted by /u/FrontyPage
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