Bitcoin Technical Analysis - 15

## WCN Episode Summary: "Bitcoin Technical Analysis - 15" (2015-10-09)

This episode of WCN focused on technical analysis of Bitcoin and broader market trends, alongside personal trading experiences.

Main Topics:

• Bitcoin Technical Analysis: Examination of Bitcoin's weekly chart, identifying a potential bottom around $2.30 and anticipating a "golden cross" in late October/early November. Resistance levels around 250-255 were highlighted.
• Market Indicators: Discussion of the German DAX index and gold as potential indicators of a market reversal.
• Gemini Exchange: Analysis of the newly launched Gemini exchange, noting its focus on institutional investors and low trading volume.
• S&P 500 Analysis: Examination of candlestick patterns, identifying a "bull trap" and potential reversal around the 1900 support level, with a preference for a pullback to 1950.
• Trading Experiences: Personal account of losses in silver and oil due to unexpected market behavior and geopolitical tensions.

Key Quotes:

• "Bitcoin's weekly chart shows a potential bottom around $2.30."
• "We're seeing a sideways movement in Bitcoin, with resistance around 250-255."
• "There's skepticism about a continued upward trend in the S&P 500."

People Mentioned:

• Hosts of WCN
• Individuals sharing trading experiences

Bitcoin Price:

• Potential bottom around $2.30
• Resistance levels around 250-255

The episode also touched upon regulatory concerns surrounding cryptocurrencies, referencing articles from CoinFire, and maintained a short position in gold. The speaker ultimately expressed caution and a temporary break from trading silver and oil.