WCN Episode Summary: Bitcoin Technical Analysis - 12 (2015-09-17)
The discussion provided a comprehensive market analysis, covering macroeconomics, general equities, and the structure of the Bitcoin market.
Main Topics:
* Macroeconomics: Analysis of the Fed's decision not to raise interest rates, suggesting future rate cuts and noting that a weakening US dollar benefits emerging markets.
* General Market: Observations that the S&P is near support (1990) and that decreasing VIX levels could signal a market rally.
* Bitcoin Market Structure: A focus on the Over-the-Counter (OTC) market, arguing that the true scope of Bitcoin trading volume significantly exceeds data published by major exchanges.
* Bitcoin Technicals: A shift from a neutral/bearish view to "cautiously bullish" based on technical indicators like a four-hour pivot and "wily divergence."
Key Quotes:
* "The OTC market... is highly active, reporting 140% week-over-week growth."
* "The total scope of Bitcoin trading is much larger than published exchange data suggests."
* "The discussion centers on the market's reaction to the Fed's decision not to raise interest rates."
People Mentioned:
George, BDC VIX, Bobby.
Bitcoin Price:
No specific Bitcoin price was mentioned.