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Crypto Industry News:
Robert Kiyosaki, businessman and author of the book Rich Dad, Poor Dad, again visited Twitter to announce his bullish position to Bitcoin. In a published tweet, Kiyosaki states that fear of a dying economy led him to buy more of the three assets, which he considers valuable outside of the traditional financial system: gold, silver and Bitcoin. The author's tweet describes how valuable he thinks every resource will be in the coming years.
"I bought more silver and Bitcoin gold. GOLD [currently] at $ 1,700. I forecast $ 3,000 in 1 year. Silver [currently] at $ 17. I predict $ 40 for 5 years. Bitcoin [currently] at $ 9,800. I anticipate $ 75,000 in three years. "
In numerical terms, this forecast reflects the expected annual increase of around 76%, 19% and 97% for gold, silver and Bitcoin, respectively. This indicates, at least according to Kiyosaki's calculations, that Bitcoin has the most favorable profit potential out of the three.
This is not the first time Robert Kiyosaki has used his platform to explain the benefits of Bitcoin and Blockchain. In recent months, the businessman has repeatedly talked about his faith in the future of these technologies.
Technical Market Outlook:
The BTC/USD pair has been seen hovering around the level of $10,000, which is the key short-term technical resistance for the bulls. The recent local high was made at the level of $9,884, so any violation of this level will lead to the local up trend extension towards the level of $10,227 - $10,430. The nearest technical support is seen at the level of $9,382. Please notice, the market conditions on daily time frame chart are extremely overbought.
Weekly Pivot Points:
WR3 - $12,194
WR2 - $10,994
WR1 - $10,553
Weekly Pivot - $9,337
WS1 - $8,765
WS2 - $7,555
WS3 - 7,013
Trading Recommendations:
The larger time frame trend remains down and as long as the level of $10,791 is not violated, all rallies will be treated as a counter-trend corrective moves. This is why the short positions are now more preferred until the level of $10,791 is clearly violated.
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