This summary covers the technical analysis discussed during the WCN episode, "Bitcoin Technical Analysis - 16," broadcast on October 14, 2015.
Main Topics:
* Cryptocurrency: Technical analysis was provided for Bitcoin (BTC) and Litecoin (LTC).
* Precious Metals: Discussion covered gold's recent breakout and required levels for sustained bullish movement.
* Major Indices & Commodities: Analysis included the US Dollar (USD), Oil, S&P 500, and BTC.
Bitcoin Price & Analysis:
Bitcoin had recently broken the $250 mark. The analysis noted a move toward $255 resistance but predicted a necessary pullback due to overbought RSI levels.
Other Asset Highlights:
* Gold: Gold broke out of $1170 and was expected to test $1200, though the expert advised a cautious approach, suggesting a retest of the $1150–$1170 breakout levels was needed for a truly bullish long-term scenario.
* S&P 500: A bounce was anticipated between 1950 and 2000.
* USD: The USD was predicted to move higher, potentially breaking $100.
Key Quotes:
1. "The optimal long-term scenario for gold would require a retest of the breakout levels (1150-1170) before being bullish."
2. "The analysis noted a move toward 255 resistance and predicted a pullback due to overbought RSI levels."
3. "The claim was that [the USD] will go higher, potentially breaking 100."
People Mentioned:
* Brave New Coin (BNC)
(Word Count: 248 words)