Has Zimbabwe Made U-turn on Bitcoin? Cryptopreneurs Still Skeptical

Despite the Reserve Bank of Zimbabwe (RBZ) said that it will create a regulatory sandbox for crypto entrepreneurs, local industry players warned not to get too excited and urged to wait for results. In March, the bank announced that it has started drafting a policy framework. “The framework, which is a regulatory sandbox, will be assessing the cryptocurrency

No Reprieve for LocalBitcoins Traders whose Bitcoin Remains Locked up

Bitcoin (BTC) traders say they are still waiting to regain access to their tokens two weeks after peer-to-peer cryptocurrency exchange LocalBitcoins quietly suspended their accounts. Account-holders say they have been severely inconvenienced by the move, which has brought their trading operations to a halt. LocalBitcoins is a Finland-based platform that allows buyers and

Kenyan Crypto Entrepreneurs Urge CMA to Create Regulatory Framework, Not Demons

Lone giraffe against backdrop of the Nairobi city skyline. Kenyan market regulators should focus on creating an innovative regulatory framework instead of demonizing initial coin offerings (ICOs), which is an "independent and viable way" to raise capital, according to local market participants. This week, the Capital Market Authority of Kenya (CMA) warned

Monero Flips Tron, Cardano, Tezos, Breaks Into the Top 10

Source: iStock/isa_ozdere After jumping by 27% in a week, Monero (XMR), the most popular privacy coin, has broken into the list of the 10 largest coins. The 10th largest coin with a market capitalization of more than USD 1 billion has now surpassed networks such as Cardano (ADA), Tron (TRX), Tezos (XTZ), and Stellar (XLM). A week ago, XMR was still 16th. At pixel time (13:15 UTC), XMR is

Litecoin Rallies, Binance Announces LTC/USDT Perpetual Contract

Source: iStock/Ja'Crispy While there is no clear reason why did litecoin (LTC) rally in the past 24 hours, it is now the best performing coin among the top 10 coins by market capitalization. After lagging behind bitcoin (BTC), LTC has now increased by almost 6% in a day (BTC is up 5%). The coin trades (13:05 UTC) at c. USD 47.7 and is also up by 14% in a week. In comparison, other major coins are

XRP Correcting Gains After Rallying on Good News

On Tuesday, XRP, the native token of the Ripple Ledger and the third most valuable coin by market capitalization, is correcting its gains after a strong rally on Monday, prompted by positive news. At pixel time (10:07 UTC), XRP trades at c. USD 0.215 after almost touching USD 0.225 earlier today (UTC time). The price is still up by more than 4% in the past 24

Tezos is The Worst Performer in The Top 50 Today

Tezos (XTZ), one of the best performing digital assets in 2019, is moving out and back into the list of the top 10 coins by market capitalization today after less than a month in this club. At pixel time (12:57 PM UTC), XTZ trades at c. USD 1.28 and is the worst performing digital asset among the top 50 tokens today and the second-worst in the past 7 days. The price

Altcoins Drop Against Bitcoin as the Top Coin Increases its Dominance

Despite a recent rally against USD, majority of the top 100 altcoins are in red against bitcoin (BTC) today. Also, the bitcoin dominance, or the percentage of the total market capitalization, increased to almost 68% and is at a three-month high. In the top 10, only EOS (EOS) has registered gains against BTC while in the top 100, less than 20 tokens and coins are in green

Cosmos Price Soars 12% in a Week, Second Best Performer in Top 20

Today and in the past week, Cosmos (ATOM) is one of the best performing digital assets in the top 20, and is registering gains against BTC, ETH and the USD. At pixel time (14:34 UTC), ATOM, ranked 16th by market capitalization, trades at c. USD 4.05 and is up by 2% in a day and by 12% in a week, increasing its monthly gains to 2.6%. While daily and weekly gains against BTC

XRP Price Up in a Week, the Only Top 10 Coin in Green

On Thursday, XRP is still the only top 10 coin in green in the past week, outperforming not only Bitcoin (BTC) and Ethereum (ETH). At pixel time (12:27 AM UTC), XRP is trading at c. USD 22 and, as prices have stabilized since the end of November, XRP bulls have trimmed monthly losses against the greenback to less than 19%. The coin is down by almost 1% in the past 24 hours,

Zcash Outperforms Bitcoin, Ethereum as it Prepares For Blossom

Zcash (ZEC), the privacy-focused cryptocurrency, is set to activate “Blossom,” a code improvement, in a mandatory system-wide upgrade today, and is among the best performing coins on Wednesday and in the past week. At pixel time (12:30 UTC), ZEC, is changing hands at c. USD 31 and traders are decidedly bullish, as the price is up by 3% in a day and 13% in a week,

Ethereum Price Unmoved by ‘Missing Link to Mass Adoption’

It's been almost a week since an important Ethereum (ETH) scalability solution was announced, but the market is still unimpressed by the “missing link to mass adoption of Ethereum.” On December 5, Matter Labs, a developer of scaling and privacy engine for Ethereum, announced this “link” by introducing their vision for the ZK Sync solution and launching its

Huobi Token Outperforms Top 20 on China News

Week-to-date, Huobi Token (HT), the ecosystem token of the Singapore-based cryptocurrency exchange, Huobi Global, is up almost 4%, outperforming the rest of the top 20 digital assets by market capitalization. At pixel time (12:13 AM UTC), HT trades at c. USD 2.82 and is down by 1.5% in the past 24 hours, trimming its weekly gains to 3.6%. The price is down by 29% in the

Bitcoin (BTC) Retesting $9,500 for the Second Time in July, Will This Support Hold?

  • Bitcoin (BTC) is down 11.7 percent
  • The identity of Satoshi Nakamoto should remain anonymous

John McAfee, the vocal Bitcoin permabull, claims to know the identity of Satoshi Nakamoto, the creator of Bitcoin. However, in a recent interview, “Bitcoin”, hopes Satoshi Nakamoto remains anonymous. Presently, BTC is down 11.7 percent from last week’s close.

Bitcoin Price Analysis

Fundamentals

Through and through, Bitcoin, the network and internet money, is just like any other tool. At least that is what “Bitcoin”, in an interview with CoinTelegraph head of News, Molly Jane Zuckerman, said.

Explaining, he said Bitcoin can be used for good or bad. However, it is the intention of the user that matters. Giving an example, he told the news publication that shoes, although worn by everyone, can be used by a criminal to perpetuate an illegality. Even though consequential, usage will not justify banning.

Further, he added that the identity of Satoshi Nakamoto should be as it is:

“I hope that the true identity of my dad is never revealed. I think considering the nature of cryptocurrencies, and it being decentralized and all. An anonymous team of creators, it’s just more poetic and fitting.”

Candlestick Arrangements

Bitcoin BTC

At the time of press, the world’s most valuable digital asset is down 11.7 percent week-to-end, trading at around $9,500. In line with previous BTC/USD trade plans, it is apparent that sellers are in charge.

Although bulls have a chance, every high is technically a selling opportunity for aggressive traders. However, it could be worse for BTC if prices dip below $9,500, conclusively confirming losses of July 27.

In that case, and as per last iterations, BTC could tumble to $7,500 and later $5,500 in a retest. A possibility, it is also steep for sellers more so considering the explosive gains in H1 2019.

All the same, considering draw down of the last two weeks, it appears that the path of least resistance is southwards.

Technical Indicators

In light of the above, July 16 bear candlestick anchors this trade plan. It is wide-ranging and has high trading volumes of 43k. Therefore, if prices react at $9,500, confirming losses of July 27 as prices drop below $9,500 with high participation exceeding 43k, then BTC could sink to $7,500 as aforementioned.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Ethereum (ETH) Prices Back to Green, Surge 7% in 24 Hours

  • Ethereum (ETH) adds 7.6 percent
  • Facebook’s Libra is more popular than ETH

An independent research from eToro reveals that investors are more aware of Libra, a Facebook stablecoin set for launch in 2020, than Ethereum (ETH). Meanwhile, ETH is back to green, adding 7.6 percent in 24 hours

Ethereum Price Analysis

Fundamentals

The discourse around Facebook’s Libra, a centralized stablecoin, is at fever-pitch. Unfortunately, the consensus is not favorable for the global stablecoin. Facebook has a bad track record on privacy.

Worse, their foray into finance is agitating Congress. Visibly, most are concerned about the Libra’s effect on the USD. The US President, Donald Trump, for example is categorical stating that Facebook must acquire a banking charter before issuing Libra.

However, the bad news is that there is nothing binding Facebook from launching elsewhere. Theoretically, Facebook is not in charge of the Libra Foundation. The latter is a group of American and European companies ready to launch in approving jurisdiction.

After polling 600 people, eToro, a social trading platform, found out that Bitcoin is the most popular digital asset. 58 percent of the those surveyed were aware of BTC. Surprisingly, 16 percent knew Libra, and a mere 12 percent had heard about Ethereum (ETH).

Concluding this finding, Guy Hirsch, U.S. managing director of eToro, said:

“We believe that crypto and the blockchain technology that underpins it will be essential to ‘tomorrow’s economy. By introducing the concept to a new audience, Libra could play a vital role in the evolution of decentralized and more democratized finance.”

Candlestick Arrangement

Ethereum ETH

Battered by BTC, ETH is relatively stable against the USD. Even so, that is not to say bulls are back. Generally consolidating in a $30 range, with caps at $230, bears are evidently in control. Unless otherwise there is a sharp upswing above $230, every high will be a selling opportunity.

However, should the breaching bar be unique, marked with high trading volumes, odds are ETH will rally to $300, and to June 2019 high in a trend continuation phase. Before then, bulls are at a disadvantage. Technically, determining the short-term trajectory of ETH will be price reaction at $230 and $190.

In light of the above, the best course of action is to stay neutral with bearish leanings until a defining breakout prints.

Technical Indicator

From above, June 16 bear candlestick is leading. Visible and wide-ranging, it has high trading volumes of 405k. Therefore, as aforementioned, whether ETH will rally to $300 or sink to $150 is dependent on the strength of the breakout.

If the breaching bar has high participation exceeding 405k, then ETH will quickly tumble to $150. Conversely, sharp rally past $230 could see ETH soar to $300.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin (BTC) Bulls Unconvincing, Over $1 Billion Lost To Hackers

  • Bitcoin (BTC) prices are steady
  • Over $1 billion lost to hackers

Hacking is forcing thoroughness in cryptocurrency exchanges. Determined hackers have seen exchanges lose over $1 billion with Bitpoint the latest victim. At the time of writing, BTC is stable, but bears have the upper hand.

Bitcoin Price Analysis

Fundamentals

There is always a risk when trading. Unlike trading traditional securities like bonds or Forex, the cryptocurrency space is unregulated. That is perhaps the reason why government representatives are drumming up for proper regulation.

Furthermore, Bitcoin and digital assets are prone to manipulation, which is then again exacerbated by huge price fluctuations making any form of sane trading near impossible. Jay Clayton of the SEC is concerned about the lack of proper monitoring tools required for leveling the playing field.

Besides market-specific risks, external factors as the security and liquidity of the exchange can spell the difference between profitability or losses for any traders-irrespective of trading style.

Of late, security is the focal point for critics and no-coiners. Believing that cryptocurrency trading is futility or gambling at best considering the many hurdles and specifically the lack of regulation, many are nitpicking vulnerabilities of cryptocurrency exchanges.

To quantify, more than $1 billion worth of cryptocurrencies including Bitcoin have been stolen by hackers. At times sponsored by governments, these elements are wreaking havoc to investors.

Understandably, Bitcoin trading is an emerging sub-sector. Tempering and accelerating maturity, hacking will always be a part of the game as long as there are honey pots in centralized exchanges.

Candlestick Arrangement

Bitcoin BTC

Overly, BTC is in an uptrend partly because of the stellar gains of H1 2019. Rallying from $3,200 and topping $14,000 in six short months, buyers are in control at least from a top-down approach.

However, in light of recent developments and precisely candlestick arrangement in the daily chart, sellers are back. If anything, a retracement is normal.

Therefore, while buyers will likely print higher in days ahead, there is an opportunity for bears to counter the primary trend. Regardless, this is subject to the reaction at $11,200.

If there is demand for BTC, odds are prices will spike to $14,000. As it is, every high is a selling opportunity with fitting stop limits above $11,200. Near term, the target will be $9,500. Any degradation below this support could see BTC drop to $5,500 in a retracement.

Technical Indicators

In light of the above, July 16 bear candlestick leads this trade plan. It is extensive, confirming losses of July 14 and different from others thanks to high trading volumes of 43k.

Because of this, any surge above $11,200 or drop below $9,500 ought to be with high participation exceeding 43k or even 82k of June 26.

When it prints, that will signal trend continuation or a temporary correction with targets at $18,000 or $5,500 subject to breakout direction.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin Buoyed By Free Marketing, Will BTC Prices Double By 2020?

  • Bitcoin (BTC) consolidating below $11,200
  • Iranians turning to Bitcoin

Despite deliberate attacks from politicians, Bitcoin as an innovation is an “unstoppable force”. Fearing the unknown, they are unknowingly marketing BTC as an alternative. For now, BTC is steady, but bears are firmly in control.

Bitcoin Price Analysis

Fundamentals

Cryptocurrency investors and traders are in the space to make money, then later for the technology. At least that is what statistics reveal. Bitcoin may be the first of its kind -and a genuinely successful digital asset that continues to transform lives.

Since the ledger that underpins Bitcoin is immutable and secured by a swarm of supporters across different geographical locations, its network is highly reliable as well as robust. Besides, because of mathematics, there is no need for trust.

As a result, there is low latency and costs. Because of this and more, analysts argue, Bitcoin is a real threat to fiat including the dominant of them all, the USD. Trump calls the central bank issued currency, the “mighty.”

Even so, it is prone to manipulation, and with a distinct, centrally controlled SWIFT network; the USD can be a controlling tool. By imposing financial sanctions, the US and allies can achieve their objectives regardless of innocent citizens of the affected economies.

To that end, Iran whose Iranian Rial collapsed, dropping by 50 percent plans to roll out a gold-backed national currency. While at it, Iranians are mining the scarce BTC which is their reliable store of value as hyperinflation rages on.

Candlestick Arrangements

Bitcoin BTC

At the time of press, there is a temporary respite for Bitcoin. After days of unrelenting drawdown, BTC buyers are back. However, considering the level of participation-and candlestick arrangement more so as visible from the weekly chart, bears may flow back, crashing the optimistic.

Besides price action that is favoring sellers and the inability of traders to reverse last week’s losses, current consolidation is a primer for sellers. Unless otherwise there is an up-thrust above $11,200 in a bid to reverse June 27 losses, bears have their sight at $9,500 or lower in days ahead.

Therefore, in light of the above, the best approach for conservative traders is patience. Once BTC blast past $14,000, they can buy the dips as they aim for $18,000 or $20,000 all-time highs. As it is, every high is a selling opportunity with stop limits above $11,200 and targets at $9,500.

Technical Indicators

Because of this, confirming candlestick signaling buyers or sellers above $14,000 or $9,500 ought to be with high trading volumes exceeding 82k of June 26. Depending on breakout direction, BTC will either soar to $18,000 or fall to $7,500.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Binance’s Boost: BNB Ready for $43 After Strong Signal

  • Binance Coin (BNB) is up 7.1 percent
  • Free airdrop for XLM owners in Binance

Binance, amassing $775k after unknowingly staking XLM, will continue staking. Preparing to boost XLM accounts with free airdrops, BNB prices are up 7.1 percent in the last day.

Binance Coin Price Analysis

Fundamentals

Trading in some periphery exchanges can not only be a source of headache because of liquidity issues, but there is also the risk of being swept clean. In H1 2019 alone, losses resulting from cryptocurrency exchange hacking exceeded $210 million. The majority is from the QuadrigaCX private key disappearance after Cotten passing.

Meanwhile, Bitpoint is the latest, losing $32 million worth of different digital assets. Even so, that’s not to say Binance is impervious as they lost $40 million in BTC back in May 2019.

However, progress is positive as the heist was an expensive lesson for Changpeng Zhao and team. Apart from their ambitious expansion drive and offering irresistible features for their global clientele, it is turning out that Binance is generous.

The Malta-based exchange unknowingly staked some of their Stellar Lumens (XLM) holdings earning $775k or 9.5 million XLM. As a result, they will begin airdropping this lot to XLM customers.

“Binance is planning to share the XLM staking rewards we have been unknowingly receiving since last year. Specifically, Binance has decided to distribute the 9,500,000 XLM in staking rewards accrued to date, which is worth about $775,000, to all users who keep XLM balances starting July 20.”

Candlestick Arrangement

Binance coin BNB

Trading 7.1 percent higher in the last 24 hours, BNB has support. Already, there is confirmation of the double bar bull reversal pattern of July 16 and 17 following the high volume upthrust of July 18.

Although the conservative type of traders can wait for a full break and close above $43 before buying the dips, aggressive traders can act now. That means buying the retracement in smaller time frames with a stop-limit just below July 16 low of $25.

Good news is there will be more weight for this stance if prices break above the middle Bollinger Band (BB) by the end of the day.

In such a case, the first target will be June 2019 highs of $43. Depending on momentum, the next aim is $70. On the reverse side, and as per previous assertions, any degradation below $25 could see BNB drop to $20 in a retest.

Technical Indicators

Because of the high trading volumes of July 18, there is a likelihood that BNB will float higher. For buy trend continuation, the break out bar signaling buyers ought to be with high participation exceeding 6 million of July 18. Conversely, bears will be back if prices fall below $25 with equally high trading volumes.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Ethereum Bulls Hit Pause, ETH Price Ceiling At $230

  • Ethereum (ETH) is down 18.2 percent
  • Set Labs launching an ETH trading robot

As a reputable smart contracting platform striving to improve, it’s token, ETH, is technically bullish. Regardless, with dropping BTC prices exacerbated by their direct correlation, the former could drag ETH prices lower. Even so, that is not stopping Set Labs from launching a trading bot.

Ethereum Price Analysis

Fundamentals

Blockchain is an emerging, multifaceted sub-sector. As a conflation of different fields, it is both inspiring and exciting meaning related startups will almost always attract capital. Of the many platforms promising high throughput and scalability, Ethereum remains a top choice for good reasons.

Like Bitcoin, Ethereum was the first platform in the smart contracting arena. Listed in different exchanges, ETH is desirable. Even though there are bumps in the short-term as developers negotiate their way around building a scalable network, the future is irrefutably bright. Case in point the different enhancement through code changes drawing scarcity and hard forks that promise to cement Ethereum in its rightful place.

Perhaps in preparation for the future, Set Labs, an investment platform in San Francisco is launching a cryptocurrency trading robot that will take advantage of volatility to benefit investors. The robot, “Trend Trading ETH 20 Day Simple Moving Average Crossover Set” will be a momentum-based bot and back tested.

According to creators, the robot will only make traders “whenever the current price of ETH crosses the 20 Day Simple Moving Average indicator.”

Candlestick Arrangement

Ethereum ETH

Down 18.2 percent in the last week, ETH is bearish. Because of this, the recent pullback is but another opportunity for savvy traders to unload ETH at better prices. Despite the attractive and supportive fundamental opportunities, the path of least resistance as per candlestick arrangement is southwards.

Visible, ETH is trading within a bear break out pattern following steep losses of early July. Therefore, according to breakout rules, every retracement towards previous support-at $230, is but a selling opportunity.

The first target will be $190 and later $150 depending on the accompanying momentum. On the other hand, if prices surge past $230 and the previous support, now resistance, trend line, that as well could be the foundation for $365 invalidating this trade plan’s projection.

Technical Indicators

From above, whether buyers flourish is heavily reliant on the level of participation. If trading volumes spike, exceeding 554k of June 26 subsequently lifting prices above June high then bulls of May will be in control. However, suppose prices tumble with equally high trading volumes then ETH could end up sliding to $150 or $100 in coming weeks.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Binance Coin (BNB) Slides 6.1%, Margin Trading Could Kickstart Demand

  • Binance Coin (BNB) falls 6.1 percent
  • If the rumor is true, Binance is close to activating Margin Trading

After six months of stellar performance, Binance coin (BNB) is correcting. Even so, if Binance enables margin trading, the demand for BNB will increase, buoying bulls aiming at $43.

Binance Price Analysis

Fundamentals

They may be centralized and prone to hacks, but exchanges play a crucial role in the crypto ecosystem. Not only do create a market place for even the most illiquid digital assets, but these ramps bridge fiat and cryptocurrencies. However, this space is heating up. There is ingress of Wall Street behemoths. Leading the line is Fidelity Investments whose express ambition is to build a digital asset vault for high net worth investors as well as institutions.

Meanwhile, exchanges are stepping up. Coinbase is diverging from their conservative stance, offering more support for coins with the latest beneficiary being EOS. Although the timing was wrong as investors didn’t reap benefits from the “Coinbase Effect,” others as Binance are keen and “listening to customer feedback.”

It is yet to be confirmed, but rumor has it that they plan to roll-out margin trading. Undoubtedly, these features will be introduced to cement its position as the world’s leading exchange by adjusted volumes. TechCrunch is reporting that Binance has already launched the feature to a select group of traders.

Candlestick Arrangements

Binance Coin BNB

Binance Coin (BNB) is in an uptrend. Shoring prices are fundamental factors which are overwhelmingly bullish. Up more than five folds after bottoming up in mid-Dec 2018, BNB is trading within a bullish breakout pattern. However, there is an over-extension.

From the chart, not only do we have a three-bar bear reversal pattern, but prices are consolidating inside May 26th high-volume bear bar. It is for this reason why the bar will determine the trajectory of the asset in the coming few days.

Furthermore, note that bars are printing away from the upper Bollinger Bands (BB). Because of this, what we have are lower lows. Nonetheless, otherwise, unless there is a breach of May 26th low at $30, buyers are in control with targets at $43 as laid out in previous BNB/USD price analysis.

Technical Indicator

From the above, May 26th anchors this trade plan. Behind the bar are high trading volumes-4 million. With support at $30, any bear bar closing below that mark signaling a correction ought to be accompanied by high participation exceeding 4 million.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin (BTC) Correcting to $5,600 On the Table, Buyers Beware

  • BTC down 6.3 percent
  • Law enforcement could be behind Bitcoin Blender’s closure

In a week, Bitcoin Blender is the second BTC mixing service to close shop. It comes at a time when bulls are losing traction, casting doubt on the overall strength of the underlying momentum.

Bitcoin Price Analysis

Fundamentals

In a day that saw crypto assets, including Bitcoin (BTC), register losses, investors are unfazed. Their optimism stems from a firm conviction that fundamental factors will end up supporting prices. In turn, the foundation will be the springboard from where prices will rally to $10,000 and beyond.

According to Tom Lee, real FOMO is after prices inch past $10,000. It is a psychological mark, a base from where bulls will swing from even clearing the $20,000 mark. But even then, there is active liquidation as visible from Bitcoin trading charts.

After several attempts, it appears as if BTC at $9,000 is “expensive” with yesterday’s dump a testament. Unless there is strong momentum and bulls stem liquidation, absorbing sell shocks preventing drawdown below $7,500, bulls will be in control.

While at it, Bitcoin Blender, a BTC mixing service, is willingly shutting down. For those unaware, Bitcoin Blender is “a hidden service that mixes your Bitcoins to remove the link between you and your transactions. It adds an essential layer of anonymity to your online activity to protect against ‘Blockchain Analysis.’”

A report from Bleeping Computer reveals that users were given short notice to withdraw their funds. It is also the second mixer to fold in a week following BestMixer shutdown.

Candlestick Arrangement

Bitcoin BTC

At the time of writing, Bitcoin (BTC) is down 6.3 percent but up 6.8 percent from last week’s close. All the same, the uptrend is solid unless otherwise there is further sell-off by today’s close.

As it is, support is at $7,500, and because of May 30th losses slowing down the match to $10,000, BTC is back to the $1,000 range with limits at $7,500 and $8,500. Accordingly, and drawing our conclusion from the chart, any dip below $7,500 could see prices slide to $6,600 and even $5,600. That is if the breakout bar has above-average trading volumes.

Conversely, any spike, erasing gains of May 30th and invalidating the three-bar bear reversal pattern ought to be with high trading volumes cementing bulls.

Technical Indicators

With a three-bar bear reversal bar, May 30th’s bear bar remains a reference bar. It has high trading volumes of 31k exceeding May 26th of 19k affirming bears.

As such, if today ends up bearish or with a long upper wick, odds are prices could slide to $7,500 or lower as aforementioned.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Binance’s Commitment Likely to Prop Bulls Aiming at $70

  • BNB in an uptrend, add 7.9 percent
  • Changpeng Zhao’s determination is the driving force behind Binance

Behind Binance Coin is a never-yielding team, keen on developing the ecosystem. With the leadership of Changpeng Zhao, Binance has its mainnet, is the world’s largest by adjusted volumes and most importantly, transparent. At the time of writing, BNB is up 7.9 percent in the last week and stable in the past 24 hours.

Binance Coin Price Analysis

Fundamentals

True, Binance suffered a hack. However, that is not to say the exchange is porous. According to Changpeng Zhao, the CEO of the world’s largest exchange by adjusted volumes, funds are SAFU. Compared to how other exchanges reacted at the back of reputation-damaging heists, the community, in general, was impressed by the level of transparency.

Although Zhao proposed an impossible “roll-back,” it revealed how committed the ramp is towards the development and improvement of the crypto ecosystem. After all, it is popular, with a base in Malta and out of reach from most regulators.

That’s judging on how they responded to the New York Attorney General request for comment early this year. Nonetheless, what is exciting from a trading and investment point of view is how Binance Coin (BNB) is rallying and cementing its position in the top-10.

Driven by fundamental factors such as extra liquidity and Binance chain mainnet, prices are up more than five folds after bottoming up from $5.

Candlestick Arrangement

Binance Coin BNB

Up 7.9 percent from last week’s close, BNB is trading within a bullish breakout pattern. From a top-down approach, BNB is trading above 2018 highs after bottoming up from the 78.6 percent Fibonacci retracement level of 2018 trade range.

Conspicuous in this rally is the level of participation that propelled BNB prices above $26. As it is, the week ending May 19th had high volumes exceeding recent averages. That, from breakout rules, is a mark of bulls and accompanying this move higher is bull bars banding along the upper BB revealing participation.

A simple Fibonacci extension tool within May trade range shows that the 161.8 percent level is at the $43 mark. That is where bulls have their sights on. If buyers are successful, then the second bull target will be the $70 mark.

Technical Indicator

Confirming our bullish bias is week ending May 19th bull bar as aforementioned. Participation is high at 25 million versus 16 million, and is wide-ranging. With increasing volumes, every retracement is a buying opportunity with a target at $43.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin May be up 14.9% But Tom Lee Expects “Real FOMO” after $10,000

  • BTC is steady above $8,500, add 14.9 percent
  • Prices in an uptrend but real FOMO is after $10,000 says Tom Lee

Tom Lee is an ardent Bitcoin supporter. Contrary to the mainstream view, he believes real FOMO for BTC will begin after prices rally past the psychological $10,000 mark. Currently, BTC is up 14.9 percent from last week’s close.

Bitcoin Price Analysis

Fundamentals

A healthy blend of growing awareness, coupled with the involvement of industry heavyweights and improving infrastructure, is somehow giving Bitcoin momentum. At some point this week, there was an expected reversal from the $9,000 mark. That is normal. Prices do expand and shrink, depending on supply and demand dynamics.

However, it is about the resilience of buyers. How they will maintain demand, and keep prices above key supports is what counts. After all, demand is a measure of participation. Although we cannot refute that buyers are back as trading volumes surge, Fundstrat Global Head Analyst Tom Lee is calling for patience.

While responding to a tweet from Financial Times’ Adam Samson, he said the real FOMO trigger is when BTC break above the $10,000 psychological mark. To him, that’s when BTC will edge past “level 10 FOMO.” The level is from Fundstrat’s study that compartmentalizes the level of BTC investor involvement from 1 to 10.

Per Tom Lee’s calculations, that is when “a price level only seen 3 percent of all days [and] mathematically equivalent to exceeding $BTC $4,500 in 2017.”

Candlestick Arrangement

Bitcoin BTC

Stable above $8,500, BTC is in an uptrend. At the time of writing, the world’s most valuable digital asset is shrugging off sellers. It is up 14.9 percent from week to date, thereby affirming the presence of optimistic buyers.

In line with previous BTC/USD price analyses, traders should search for loading opportunities on dips. Modest targets lie at $9,000, which is this week’s high. However, any clearance could see BTC surge to $10,000 or higher by the end of Q3 2019.

Technically, BTC is within a breakout pattern and although in consolidation within May 26th trade range, rejection of lower prices hints of underlying demand.

In that case, risk-averse traders can wait for close above $9,000 at the back of high trading volumes exceeding recent averages.

Technical Indicator

Because of candlestick arrangement, May 26th bull bar anchors this BTC trade plan. Safe the low trading volumes, it is wide-ranging, and probably is laying the foundation that could see prices expand beyond $9,000.

In a similar fashion, the conservative traders, as aforementioned, can only initiate longs if accompanying trading volumes propelling BTC above $9,000 exceeds 19k.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin Bulls are Steadfast, $20,000 Is a Conservative BTC Target

  • Bitcoin capped at $9,000
  • Andy Cheung is bullish, expects BTC to spike to $20,000

According to Andy Cheung of OkEx, Bitcoin’s fair value is $20,000. In the meantime, prices are correcting and oscillating inside May 26th trade range with caps at $9,000.

Bitcoin Price Analysis

Fundamental

After two months of a relieving rally, BTC prices are pulling back. It’s nothing new. Extended gains, rallies and cool offs are typical in healthy markets, and Bitcoin is no exception. Besides, there is nothing to worry about considering significant developments and shifting sentiment in the last few years.

A decade of resilience, FUDs, and the sphere now has deeper liquidity cushioned by a public campaign to increase awareness that is paying dividends. Since the narrative is changing, and banks are increasingly accepting the world’s valuable digital asset, investors believe that Bitcoin, in its pure form, will play a crucial in years to come.

Besides, changing political stands could thrust Bitcoin into the scene. Gradually, BTC will be more than a medium of exchange but a settlement layer and a store of value. Already, we can draw lessons from Venezuela where the economic turmoil did force citizens to seek refuge in the censorship-resistant Bitcoin and other alternatives as DASH.

Simply because of this, Andy Cheung, head of operations at OkEx has a conservative BTC price prediction of $20,000 by the end of the year.

Candlestick Arrangement

Bitcoin BTC

At the time of writing, BTC is up 9.5 percent week-to-date. In a bullish breakout pattern, buyers are in charge. However, from the chart, it appears as if there is a cool-off. Technically, this is a correction, but it largely depends on whether $8,500 will hold.

The level is previous resistance, now support, and in a trend continuation, it is vital for bulls to flow back and reverse yesterday’s losses. Therefore, that means a rally past May 27th high lifting prices towards $9,000. Inevitably, such a move would rekindle bulls, and as laid out in previous BTC/USD plans, the path to $10,000 should be clear to the delight of traders.

On the flip side, should bears press lower confirming the three-bar bear reversal pattern of May 26th  through to 28th , wiping out gains of May 28th , BTC may end up sliding to $7,500 or lower.

Technical Indicator

In light of the above, May 26th candlestick is the reference bar. In spite of low trading volumes of 19k, the bar guides this trade plan. Any move above May 27th high or accelerating any correction below $7,500 should ideally be with high trading volumes exceeding 19k.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Ripple Breaks From a 5-Month Range with Increasing Trade Volumes

  • XRP adds 13.2 percent week-to-date
  • Prices break above a 5-month trade range

For what Ripple seeks to achieve, the IMF has praised the San Francisco startup. Nonetheless, George Harrap of Bitspark believes that Bitcoin is more practical, liquid, and useful than XRP.

Ripple Price Analysis

Fundamentals

Different blockchain projects have different objectives. Ripple intends to build a global platform from where banks and financial institutions can run from. Less than a decade later, and they are recording success. Although onboarding is not as fast, at least, supporters can argue that progress is visible.

Ripple, as an independent company, has a fruitful relationship with several central banks, including that of Saudi Arabia, the Saudi Arabia Monetary Authority (SAMA). Besides, it has an open communication link to the White House. At least that is what Cory Johnson, the former Chief Marketing Strategist said.

Furthermore, the IMF and the World Bank lauds Ripple’s effort of improving livelihood. All the same, the objective is to build liquidity. The ease of fund transfer in the more extensive web of web 3.0 on the Internet of Value will be possible if people and firms can move funds instantaneously.

Through xRapid, Ripple supporters are positive that XRP as an on-demand liquidity tool, a facilitator can make that possible. However, George Harrap of Bitspark argues that Bitcoin is far more practical and usable than Ripple. The reason behind this argument is the penetration level, the number of companies accepting BTC, and the general level of liquidity across different fiat pairs.

Candlestick Arrangement

Ripple

Trailing EOS, BSV and Litecoin, Ripple (XRP), is up 13.2 percent in the last week. A standout in all this resurgence is the breach and close above 40 cents as participation levels swell.

Even though there is a ceiling at around 43-45 cents zone, bulls are solid in their march. As a result, the expansion in price sync with previous XRP/USD trade plans. Note that after five months of XRP trading within a 10 cents range with limits at 30 and 40 cents, the rejection of lower lows is a mark of bulls.

Therefore, while conservative traders can wait for clear cut breakouts above May 16th high, there is a window for aggressive traders to ramp up in smaller time frames. Feasible targets will be at 60 cents and later 80 cents.

Technical Indicators

Even though trading volumes are low and pale in comparison with May 14th’s where participation topped 187 million, there is a steady increase in volumes. In six days, volumes surged three folds from 19 million of May 23rd to 59 million of May 28th. Because the trend is bullish, any breach clearing May highs could see volumes surge towards or even above 187 million confirming buyers.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin Bulls Are Skeptical Even After Bullish Signal, Will $8,500 Hold?

  • Bitcoin prices firm above $8,500
  • Technical analysts are overly bullish after Guppy indicator turned green

After three years, the Guppy technical indicator is flashing “buy.” As a result, technical analysts believe bulls are in control. That may be true because Bitcoin is up 8.9 percent in the last week but ranging above $8,500.

Bitcoin Price Analysis

Fundamentals

The excitement is palpable. However, traders ought to be practical. Trends don’t shift in short bursts. In different capital markets, it is normal for asset prices to cement their main trajectory after months or even years. As trends change, false breakouts and price consolidations are frequent. That is why, and as expected, one trader is wary of this BTC upswing.

According to a crypto trader, $11,700 is a crucial buy trigger that must be broken before bulls commandeer price action. Taking to Twitter, he said it is “ridiculous” for him to take a contrarian opinion. Nonetheless, it is wise to diverge from the mainstream stand. Even so, the trading community is confident that buyers are in firm control.

Referring to a long-term technical indicator that turned green for the first time in three years, analysts are of the view that the crypto winter is finally over. The technical indicator, Guppy printed a buy signal. The last time it did, buyers pressed higher for two years.

Candlestick Arrangement

Bitcoin BTC

At the time of press, Bitcoin is changing hands at $8,685, stable in the past 24 hours but bullish, adding 8.9 percent week-to-date. From fundamental and sentiment analysis, it is clear that buyers are in control.

In line with our last BTC/USD trade plan, traders can fine-tune entries in smaller time frames, loading on dips with the first target at $10,000. It is easy to see why. From candlestick arrangements, BTC is within a bullish breakout pattern thanks to May 26th price spike that temporarily placed BTC at $9,000.

Since there is a confirmation—yesterday’s bar closed above $8,500, there is an opportunity to buy at spot rates with the target as aforementioned. However, we cannot discount a pullback towards the middle Bollinger Band (BB) — around $7,700, more so if accompanying trade volumes are high.

Technical Indicator

Since the trend is bullish, our anchor bar is May 26th bullish breakout bar. It has light trading volumes but is wide-ranging. As mentioned, traders are cautious of a pullback. Regardless, every low is a buying opportunity.

While it is true that buyers are in charge, it all depends on whether the bear bar erasing May 26th gains has high trading volumes above 19k or even 47k of May 14th. If that is the case, then traders should exit their long positions and wait for another buy signal.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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Bitcoin Market Efficient But Small, BTC Bulls Aiming At $10,000

  • Bitcoin adds 10.7 percent in 24 hours
  • Bitwise says Bitcoin spot and arbitrage markets more efficient

For the first time this year, Bitcoin is trading above $8,500 as bulls take charge. In line with prevailing sentiment and candlestick arrangement, it is likely that BTC will rally towards the psychological $10,000 mark.

Bitcoin Price Analysis

Fundamentals

There is excitement around Bitcoin and crypto market in general. Often, the former does drag or lift the latter. At the moment, the spike in price and participation is permeating to the altcoin market.

After yesterday’s stellar performance during the NY session, Bitcoin is for the first time this year trading above the $8,500 mark. The level doubles up as a resistance mark and a buy trigger from previous trade plans. Now that BTC is above $8,500, expanding to highs of $9,000 at some point yesterday, the community is confident that this is the beginning of something huge.

Leading the camp is Brian Kelly, a perma-bull, who is expecting prices to rally after next year’s halving. Another prominent supporter is Bitwise Management. The firm said the Bitcoin spot market is “significantly smaller and significantly more efficient” than it was in 2017.

While presenting their comment to the US SEC, they added that there has been a dramatic improvement in Bitcoin spot and arbitrage market despite increasing volatility and shrinking trade volumes.

“This comes despite high volatility and (at times) declining overall trading volume, and is driven by a large number of factors that reflect the growing maturity of the space. After you remove the fake volume and fake data from the equation, you are left with an extremely efficient and orderly market and one that is backstopped by a regulated derivatives market of significant size.”

Candlestick Arrangement

Bitcoin BTC

At the time of writing, Bitcoin is changing hands at $8,850. The world’s most valuable asset is up 10.7 percent in the last day, trading within a bullish breakout pattern. Note that though BTC is above $8,500, the accompanying trade volumes are low and below those of May 19th.

Nonetheless, the fact that BTC is now above April peaks in a trend continuation phase after prices tumbled to the 61.8 percent Fibonacci retracement level based on the trading range of the first three weeks of May is bullish.

For solid breakout, BTC prices must close above $8,500. After that, subsequent bars should ideally print higher banding along the upper BB as buyers aim at $10,000 and later $12,000.

Technical Indicator

In light of the last 24 hours events, May 26th bull bar with 19k is the trade plan’s reference bar. Today’s bar has a long upper wick hinting of sell pressure. However, confirming bars must be buoyed with wide-ranging bull bars with volumes above 19k or 47k of May 17th.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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70 Days to Litecoin Halving but LTC is Soaring, at New 2019 Highs

  • Litecoin add 16.5 percent in 24 hours
  • August halving may be the reason behind price expansion

In the top 10, Litecoin is one of the top performers, surging 16.5 percent at the time of writing. Even so, we expect more gains in days ahead of August halving.

Litecoin Price Analysis

Fundamentals

After a brutal 2018, Litecoin prices are once again, rallying. It’s pure bliss for traders as well as investors who had to persevere the biting “crypto winter.” At the time of writing, Litecoin is trading at $117, leaping more than four folds five months after sinking to $22.

Behind this resurgence are supportive technical and fundamental factors. That’s apart from the direct correlation LTC has with Bitcoin, expanding as BTC close higher. However, and from dominant topics, the optimism has to do with August 19th, 2019 halving where supply-demand dynamics will kick in fairly valuing the asset.

Then, as hard-coded in the Litecoin source code, miner rewards will be slashed from 25 LTC to 12.5 LTC. Therefore, if what investors are expecting is true, then the resulting squeeze could renew interest in the medium of exchange coin, lifting prices towards $150 and even $200.

It is perhaps this anticipation that LTC is vibrant as buyers flock, thrusting prices above the psychological $100 mark.

Candlestick Arrangement

Litecoin LTC

At the time of press, LTC is up 16.5 and 23 percent in the last day and week respectively. If anything, this is impressive. At the moment, the foundation of the next wave of higher highs that could see LTC spike as buyers flow ahead of halving is being laid.

Notice that from the daily chart, Litecoin is not only trading within a bullish breakout pattern after clearing $110, but after bouncing off 78.6 percent Fibonacci retracement level, it is at new 2019 highs.

Because of this, LTC prices are above Q2 2018 lows. That’s not all. Bull bars band along the upper Bollinger Band (BB) as visible in the weekly chart. That is a mark of demand. Therefore, although the breakout bar was at the back of low trading volumes, every low is a buying opportunity. The first target will be $120 and later $180 or April 2018 peaks.

Technical Indicator

In a bullish breakout, May 26th bull bar will anchor this trade plan. It is wide-ranging, and in a trend continuation phase, prices broke above $110 with above-average trading volumes of 410k versus 328k. Since bulls are in charge, it is vital that today close higher. Consequent bars should confirm underlying demand. That mean volumes should ideally be higher than 410k or even 803k of May 16th.

Chart courtesy of Trading View. Image Courtesy of Shutterstock

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