Key Highlights Ripple price recovered recently, but it is facing a significant resistance near $0.4500 against the US dollar. There was a break above a key bearish trend line with resistance at $0.4400 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could correct lower, but it is likely to make another attempt to clear the $0.4500 resistance. Ripple price jumped sharply against the US Dollar and Bitcoin. XRP/USD must clear the $0.4500 resistance to accelerate gains towards the $0.5000 level. Ripple Price Trend Recently, there was a sharp downside move below $0.4400 in Ripple price against the US Dollar. The XRP/USD pair traded below the $0.4200 support level, but it found support near $0.4150. A low was formed at $0.4142 and later the price started an upward move. The price gained traction and traded above the $0.4200 and $0.4400 resistance levels to move into a positive zone. More importantly, there was a break above a key bearish trend line with resistance at $0.4400 on the hourly chart of the XRP/USD pair. The pair also settled above $0.4400 and the 100 hourly simple moving average. However, the upside move was capped by a crucial resistance near the $0.4500 level. At the moment, the price is correcting lower towards $0.4400. An initial support is near the 23.6% Fib retracement level of the last wave from the $0.4142 low to $0.4490 high. However, the most important support is near $0.4400 and the 100 hourly simple moving average. Looking at the chart, the price has moved into a positive zone, but it has to move past $0.4500 to gain further. A push above $0.4500 could open the doors for more upsides towards the $0.5000 level. On the flip side, a break below $0.4400 may perhaps push the price towards the $0.4320 support. Looking at the technical indicators: Hourly MACD – The MACD for XRP/USD is slightly placed in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level. Major Support Level – $0.4400 Major Resistance Level – $0.4500 The post Ripple Price Analysis: XRP/USD Struggling Near $0.4500 appeared first on NewsBTC.
Highly-respected bitcoin developer Pieter Wuille unveiled a draft document outlining the technical makeup of bitcoin's likely next major upgrade.
A lot of people understand the idea of investing in cryptocurrency, but what about trading? The two require different ways of thinking. For investing, it boils down to how well the technology will hold in the future. So if you’re looking to save up for your retirement fund, or want profit much further in the The post What are Crypto Trading Tools? [Quick Guide] appeared first on CCN
Key Highlights ETH price traded higher and tested an important resistance area near $455 against the US Dollar. There is a major bullish trend line formed with support at $438 on the hourly chart of ETH/USD (data feed via Kraken). The pair may correct lower, but it is likely to find support near $435-438 in the short term. Ethereum price is moving in a positive zone against the US Dollar and Bitcoin. ETH/USD remains in a bullish zone as long as it is above the $435 level. Ethereum Price Support There was a decent upside move from the $429 swing low in ETH price against the US Dollar. The ETH/USD pair traded higher and broke the $435 and $440 resistance levels to move into a bullish zone. The upside move was such that the price tested an important resistance area near $455. A high was formed at $454.82 before the price started a downside correction. It traded below the 23.6% Fib retracement level of the last wave from the $429 low to $454 high. However, there are many supports on the downside near the $438 level. An initial support is near $442, which is the 50% Fib retracement level of the last wave from the $429 low to $454 high. Below this, the $440 support may provide support along with the 100 hourly simple moving average. More importantly, there is a major bullish trend line formed with support at $438 on the hourly chart of ETH/USD. Therefore, it seems like there are many supports on the downside near the $438-442 zone. tec Looking at the chart, the price may perhaps correct a few more points, but it is likely to find support near $438. On the upside, a break above the $455 resistance is must for more gains. Above this, the price could accelerate towards the $475 level. Hourly MACD – The MACD has moved back in the bearish zone. Hourly RSI – The RSI is moving lower towards the 50 level. Major Support Level – $438 Major Resistance Level – $454 The post Ethereum Price Analysis: Can ETH/USD Break $455? appeared first on NewsBTC.
NEO Price Key Highlights NEO price recently broke out of a symmetrical triangle consolidation pattern on the 1-hour chart. Price is pulling back from the breakout and might be due for a retest of the broken triangle resistance. If the area of interest holds, NEO could gain more bullish traction and test the next upside targets. NEO price could gain more traction on its bullish breakout if the pullback to the area of interest spurs a bounce. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, there’s still a strong chance for the selloff to continue at this point. However, NEO has moved past the 100 SMA dynamic inflection point to show a bit of bullish pressure. Price has yet to break past the 200 SMA dynamic inflection point to indicate stronger bullish momentum. RSI is on the move down, though, so there’s some selling pressure left. However, the oscillator also seems to be pulling up to indicate a potential return in bullish pressure. Stochastic is also heading south to signal that sellers have the upper hand, but the oscillator is closing in on the oversold region to signal exhaustion. Turning back up could bring buyers back in and spur a bounce. NEOUSD Chart from TradingView Market Factors Cryptocurrencies pulled back from their earlier rallies on negative commentary and an exchange hack last week. However, the rebound is still in play and there’s a good chance that buyers might keep defending near-term support zones. For one, the industry developments have carried on despite regulatory checks related to AML and KYC requirements. A handful of altcoins have created their own independent blockchains while more companies continue to strike partnerships with crypto companies to tap into applications. However, dollar demand and risk sentiment has also influenced NEO price action to some extent as trade-related headlines weighed on appetite for riskier assets. The post NEO Price Watch: Small Correction from Bullish Breakout appeared first on NewsBTC.
Bitcoin Price Key Highlights Bitcoin price appears to be keeping its head above the near-term area of interest at the channel support. If a bounce back to the resistance happens, an inverse head and shoulders pattern could also be completed. A break past the channel top could be enough to confirm that a long-term uptrend is underway. Bitcoin price is staying above the $6,300 area of interest to signal that bulls are putting up a good fight. Technical Indicators Signals The 100 SMA is starting to cross above the longer-term 200 SMA to suggest that bearish momentum is over and that the path of least resistance is to the upside. This means that the reversal could gain more traction from here, especially once the crossover is completed. In that case, support at the ascending channel could keep holding as this lines up with an area of interest or former support and resistance level. Price could find its way back to the channel top at $7,200, which would also be above the neckline of a reversal pattern. Bitcoin price continues to attempt to complete the inverse head and shoulders formation on this 4-hour time frame, and this is considered a potent reversal signal. The pattern would span $5,800 to $6,800 or $1,000 in height, so the resulting uptrend could be of at least the same size. However, RSI is already closing in on the overbought zone and is showing intention to head back down. This could mean that sellers are eager to push bitcoin price south again. Similarly stochastic is starting to turn upon reaching overbought territory so bitcoin could follow suit. BTCUSD Chart from TradingView Market Factors Bitcoin price was off to a rallying start in July but most of these gains were returned last week on negative commentary and another exchange hack. US authorities also indicted twelve Russian officials for using cryptocurrency in interfering with the 2016 elections. This time, the focus could remain on related headlines that could determine whether the bullish run could resume or if another set of downbeat updates could force a continuation of the earlier slide. The post Bitcoin (BTC) Price Watch: Down But Not Out! appeared first on NewsBTC.
Credit card giant American Express may be looking into developing a new proof-of-payment (PoP) system based on blockchain technology.
At press time, the number one cryptocurrency in the world by market cap is up approximately $100 from yesterday, and is now trading for around $6,350. A rise is always welcome news amongst crypto-enthusiasts, though it’s unclear if bitcoin is on a path towards recovery or not. And yet, bitcoin is presently being viewed through a negative lens, as reports have emerged suggesting Russian spies may have used the currency to potentially interfere in the 2016 presidential election. The spies in question are being accused of using bitcoin to pay registration fees on the site dcleaks.com, which posted emails stolen from Hillary Clinton’s server. In addition, the platform used to host dcleaks.com was also supposedly paid for with bitcoin. U.S. officials claim, “To facilitate the purchase of infrastructure used in their hacking activity – including hacking into the computers of U.S. persons and entities involved in the 2016 U.S. presidential election and releasing the stolen documents – the defendants conspired to launch the equivalent of more than $95,000 through a web of transactions structured to capitalize on the perceived anonymity of cryptocurrencies such as bitcoin.” 12 Russian operatives are now being accused of interfering in the election through what prosecutors are calling a “sophisticated hacking scheme.” Again, bitcoin and cryptocurrency are under fire for being the “currency of choice” in an alleged criminal underworld. Jonathan Levin – co-founder of Chainalysis – explains, “This is the first clear example in court documents of cryptocurrency being used to purchase capabilities that could be leveraged in attacks on national security. The fact that cryptocurrencies are global and real-time means that you might only find out about these things after the fact. We need to think about the responsibilities that we all have in a world where payments move seamlessly across borders in the blink of an eye.” Many institutions took an interest in bitcoin last year when the price reached $19,000. These establishments later sought to move the currency away from what The New York Times calls “unsavory associations,” though it appears there’s still room for improvement. The indictment of the spies reads that while traditional currencies were also used in their activities, they “principally used bitcoin when purchasing servers, registering domains, and otherwise making payments in furtherance of hacking activity.” Also, bitcoin “allowed the conspirators to avoid direct relations with traditional financial institutions, allowing them to evade greater scrutiny of their identities and sources of funds.” Several steps were allegedly taking to hide the bitcoin transactions, including purchasing the currency on supposed peer-to-peer exchanges. The spies are also being accused of mining the coins themselves. Bitcoin Charts by TradingView
LocalBitcoins trader Theresa Lynn Tetley, better known as the “Bitcoin Maven,” has been sentenced to 12 months and a day in prison, a $20,000 fine, and three years supervision after release for laundering bitcoin as proceeds of narcotics sales and for her role in running an illegal bitcoin-for-cash exchange, according to the U.S. Attorney’s Office for The post LocalBitcoins Trader ‘Bitcoin Maven’ Sentenced to Prison for Money Laundering appeared first on CCN
Like most coins, there is some upward pressure for Bitcoin and what a time to capitalize on. In the past week or so, we have seen the influence of $6,000 our main support line and 2018 lows. Because of these developments, odds of further gains are high and this opens the door for Bitcoin buyers to search for loading opportunities in lower time frames. From the News By design, cryptocurrencies are meant to exist on their own without government interventions. To make this a reality, these coins exist digitally in an often regulated environment. Aside the regurgitation of stale crypto news by mainstream media, we have seen how useful they are for struggling economies hit by hyperinflation. Bitcoin for example is in use in Zimbabwe and in Bolivia where their government issued paper monies are worthless. These encouraging cases give a glimpse of the future where the value of any currency is determined by the community and not by a government entity working in cohorts with rogue politicians. Talking of rules and regulation and the Chilean Court of Appeal has ordered the country’s state bank Banco Estado to reopen the deposit account of OrionX. OrionX is one of Chile’s cryptocurrency exchanges. #Bitcoin may not be a financial asset or instrument, but its chart sure moves like one. Clear patterns that any chartist will recognise, esp. with a logarithmic Y-axis (linear scale, chart 2, less relevant for such big moves). In fact, recent rise less steep than in Q1 13, Q4 13 pic.twitter.com/tvTOyAGpso — Geert De Clercq (@gvdeclercq) January 4, 2018 It’s along this value proposition that ADVFN CEO thinks Bitcoin is on the path of hitting $20,000 and later $2 million. According to their bright analysis, Clem Chambers of ADVFN noticed that prices of Bitcoin often expand at 26 percent per time period and this effectively makes Bitcoin a logarithmic asset that moves non-linearly. So, in his projection, within 10 time periods assuming Bitcoin continues to compound at 26 percent, Bitcoin valuation shall reach $2 million. Bitcoin (BTC) Technical Analysis Weekly Chart Bitcoin Weekly Chart by Trading View The reaction at $6,000 has been impressive and technically this is beneficial for Bitcoin bulls. While bears have been on a rampage for the best parts of Q2, odds are high that there is a recovery boiling up this quarter. It’s from the charts really. Clearly, there was a rejection of further buys right after week ending July 1 bull pressure confirmation. Then again, last week’s candlestick shape is hinting. Week ending July 16 had a long lower wick meaning Bitcoin buyers were pushing up higher in lower time frame. However, the major take away was that this was happening right at main support—at $6,000. Daily Chart Bitcoin Daily Chart by Trading View So far, Bitcoin prices are up three percent and rejecting further lower lows. Of course, this is overly positive for hawks and my trade suggestion demands patience for risk-on traders until after prices edge past $6,800 and $7,000. The reasoning is simple: $7,000 is July 2 highs. Besides, it marks the upper limit of an intra-range resistance and bull trigger. However, this doesn’t mean risk off traders should capitalize on this resurgence. They can buy on dips with stops at $6,000 and first targets at $10,000. Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision. The post Bitcoin (BTC) Technical Analysis: Purging “Useless” Coins Will Pump Bitcoin to $20,000 Says Clam Chambers appeared first on NewsBTC.