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Good morning! Bitcoin predictions for 2018, parabolic targets and about it's power usage. STEEM decision time by furious-one

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money · @furious-one · (edited)
$26.86
Good morning! Bitcoin predictions for 2018, parabolic targets and about it's power usage. STEEM decision time
![coffee-2714970_960_720.jpg](https://steemitimages.com/DQmZ5JKpUcQK9pNVtTxcosFeie2assSbKvCL78cpq8n6yMw/coffee-2714970_960_720.jpg)

Good morning traders! 

Browsing the web found this - Cointelegraph brings us a nice summary of some bigger names' **predictions for Bitcoin in the upcoming year.** Most of them are actually quite modest and one of these targets has already been met, but worth pointing out that John McAfee promised to eat his body parts on live TV if his target is not met. Not that he rally cares, as any publicity is good publicity, but funny nevertheless

![new year predictions.jpg](https://steemitimages.com/DQmVBq3gW2LHAEdpuu8q1kg9F6bm7A3aWqP2U8dVyhRx75w/new%20year%20predictions.jpg)
*<sub>Via [CoinTelegraph](https://twitter.com/Cointelegraph/status/937686216513814536)</sub>*

----

**World Economic Forum reports that making one Bitcoin trade is as expensive as powering a house for a month.** To be more exact, one transaction uses as much energy as a regular household in one month. Insane.

And not only does it consume this enormous amount of electricity on a transaction, but it also consumes much more than fiat or Ethereum trnasactions

![kwh usage.JPG](https://steemitimages.com/DQmZTVhahyq7uMZU3dWM2YSLGFkNpT36eXwE5pRuoiBpyzr/kwh%20usage.JPG)
*<sub>Study by ING (Dutch Bank)</sub>*

Head on to [WEForum.org](https://www.weforum.org/agenda/2017/10/the-electricity-required-for-a-single-bitcoin-trade-could-power-a-house-for-a-whole-month) to read up on the story.

Additionally, here is a graph detailing the rise of the mining complexity of Bitcoin, which, in turn lifts the price of mining one.

![btc price and mning complexity.JPG](https://steemitimages.com/DQmPaTAdoCxWDWdgZ871TBJ5QQbhrCKZVdiCKhotakyRTVZ/btc%20price%20and%20mning%20complexity.JPG)
*<sub>topdowncharts.com via [Ronnie Stoeferle, CMT](https://twitter.com/RonStoeferle/status/937946892595613696)</sub>*


------------------

User filbfilb on Tradingview makes **the case for the Bitcoin parabolic move ending circa 20K** and the following correction, that could bring the pricedown to the levels of $2-3K. 

![bitcoin parabolic.JPG](https://steemitimages.com/DQmPeQyU5pRuKGWgckAs4C3V1jEZGoJEm2Y5oMtMzjuhemJ/bitcoin%20parabolic.JPG)

According to him, the real parabolic top is yet to come and the volatility will knock your socks off.

Be sure to read his analysis below the chart. Via [TradingView](https://www.tradingview.com/chart/BLX/1o5tcA0t-BTC-The-Parabolic-Move/)

----------

Charts? Charts!

STEEM/USD has a decision point around here. We've been climbing quite nicely in the recent days, do we have some more in it?

![steem questions.JPG](https://steemitimages.com/DQmfFsgvj8u9XcxfttTikuanudowK8tjDpjJbWGAPEu7rPr/steem%20questions.JPG)

GBPNZD soon some questions are going to be answered here. Retesting breakout point currently, re-enter the lower part or rip?

![gbpnzd daily a question is coming.JPG](https://steemitimages.com/DQmR85Uzmik95Q5Vg8N7SLDFK3LxWo93vgUrbzEF1y6cbnP/gbpnzd%20daily%20a%20question%20is%20coming.JPG)

GBPUSD - same as previous, we are re-testing the multiyear breakout point. What happens here, is key.

![gbpusd.JPG](https://steemitimages.com/DQmcBqvKSzLXd8UMHvPzw3UcHMgtBcs5BRvU4PHowkPBb7m/gbpusd.JPG)

Thanks for reading, keep it cool everyone ;)

---
---
Check out [Chainbb](https://chainbb.com/), an alternative frontend for STEEM network. If you like forum style, that's the platform for you.

---

*<sub>Title image from pixabay</sub>*

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vote details (36)
@buggedout ·
$0.03
That STEEM/USD chart is a real doozy.  I knew we've been in that channel for a while but didn't realise we were also touching the bigger resistance line too.  That's a lot of resistance added together so if we can get through that it has got to be uber-bullish for STEEM.
👍  
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vote details (1)
@furious-one ·
$0.03
I've checked some other data providers as well and as most have all those spikes at different levels, i have settled for this corrected chart (seen below). It appears we are in a massive triangle as well as a basic range box. We have already come down quite a bit from the top border since yesterday, but what are the odds we have a proper Santa rally in the cryptosphere as well?

![steemusd daily triangle.JPG](https://steemitimages.com/DQmQUidSbfKQMo9PPYTgw4LiqxNXNCfQgN3Y4WLbWwtu17K/steemusd%20daily%20triangle.JPG)
👍  
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vote details (1)
@buggedout · 
I wish I knew.  The whole SBD pumping situation has me very confused right now.

From just a TA perspective you'd have to expect the most likely scenario is that we are probably going to be range bound for December until we get a bit closer to the pointy end of that triangle.
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