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Will Bitcoin Continue to Explode? Trading Levels for 12.08.2017, Non Farm Payrolls


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Voted #1 Blog and #1 Brokerage Services on TraderPlanet for 2016!!  

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Dear Traders,

Bitcoin: Will Stunning Rally Sustain or Sour in 2018?

  • 4 Dec 2017
  • By Erik Norland
  • Topics: FX, Equity Index, Metals

Our previous article on bitcoin focused on the crypto asset as a currency and delved into the inherent tension in its role as a medium of exchange and a store of value. This paper examines why bitcoin is so volatile; its supply and demand drivers, and how the cryptocurrency compares to commodities.

What is most striking about the economics of bitcoin is the certainty of its supply and the vagaries of demand. The rate at which bitcoin is mined has been highly predictable and unlike almost any other asset – currencies or commodities – its ultimate supply is a known quantity, fixed well in advance. There will never be more than 21 million bitcoins. This feature makes supply almost perfectly inelastic. No matter how high prices go, miners will not produce more than 21 million coins. Moreover, price increases won’t necessarily incentivize a more rapid mining of bitcoin. Even if they did, it would only influence miners to create more bitcoin today at the expense of creating less in the future since the total supply will reach a hard, asymptotic limit of 21 million coins…..Read the Rest

The New Account Application

In Order to Trade bitcoin futures and other commodity futures, please complete the following online application and fund the account with the minimums listed above

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Generally, application approval usually takes a day or two, if it is an urgent set-up, we should be able to get you up and running within a day.

If you have ANY questions, 

Good Trading!

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.  You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Futures Trading Levels

12-08-2017

Contract December 2017  SP500 Nasdaq100 Dow Jones Mini Russell BitCoin Index
Resistance 3 2658.75 6387.00 24485 1546.60 20998.67
Resistance 2 2650.00 6361.25 24374 1536.30 18989.17
Resistance 1 2643.75 6340.25 24295 1527.80 17482.28
Pivot 2635.00 6314.50 24184 1517.50 15472.78
Support 1 2628.75 6293.50 24105 1509.00 13965.89
Support 2 2620.00 6267.75 23994 1498.70 11956.39
Support 3 2613.75 6246.75 23915 1490.20 10449.50
Contract Feb. Gold Mar. Silver Jan. Crude Oil Mar.  Bonds Dec.  Euro
Resistance 3 1283.5 16.30 57.95 155 24/32 1.1853
Resistance 2 1275.1 16.15 57.36 155  3/32 1.1837
Resistance 1 1262.5 15.95 56.99 154  5/32 1.1809
Pivot 1254.1 15.81 56.40 153 16/32 1.1793
Support 1 1241.5 15.61 56.03 152 18/32 1.1765
Support 2 1233.1 15.46 55.44 151 29/32 1.1749
Support 3 1220.5 15.26 55.07 150 31/32 1.1721
Contract Mar.  Corn Mar. Wheat January Beans Mar. SoyMeal Jan. Nat Gas
Resistance 3 354.5 429.6 1002.00 348.50 3.05
Resistance 2 353.5 427.2 998.50 345.60 2.99
Resistance 1 352.5 424.3 995.25 340.40 2.88
Pivot 351.5 421.9 991.75 337.50 2.81
Support 1 350.5 419.1 988.5 332.3 2.7
Support 2 349.5 416.7 985.00 329.40 2.64
Support 3 348.5 413.8 981.75 324.20 2.53

Economic Reports, source: 

http://app.bettertrader.co

Economic Reports - Friday, December 8th

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

Tags: > > Posted in: Bitcoin Futures | Future Trading News

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