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ETH/USD and ETH/BTC Technical Analysis November 7 2017

ETH/USD Ethereum continues to chop around in a large consolidation area, with minor support at $290, and even more important support at $272 underneath. Ultimately, I believe that breaking above the $316 level is what the market will eventually do, and once we get above that level, the market should continue to go towards the … Continue reading ETH/USD and ETH/BTC Technical Analysis November 7 2017

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ETH/USD

Ethereum continues to chop around in a large consolidation area, with minor support at $290, and even more important support at $272 underneath. Ultimately, I believe that breaking above the $316 level is what the market will eventually do, and once we get above that level, the market should continue to go towards the $350 level above as it is so important on the longer-term chart. However, it looks as if we are going to pull back in the short term, perhaps giving us an opportunity to buy Ethereum at $290.

ETH/BTC

Ethereum looks as if it is trying to form a little bit of a bottom against Bitcoin, but the overall downward trend continues in the market, and I believe that it is only a matter of time before the sellers return. I would be very interested in selling rallies at the 0.045 level, and even more so at the 0.05 level. Patience will be needed, but as shorting opportunities should present itself eventually.

Thanks for watching, I’ll be back tomorrow.

The post ETH/USD and ETH/BTC Technical Analysis November 7 2017 appeared first on NEWSBTC.

DASH/USD and LTC/USD Technical Analysis November 7 2017

DASH/USD DASH continues to go sideways overall, as we are in a relatively well-defined consolidation phase. Ultimately, looks as if the $250 level is going to continue to be massively supportive, while the $300 level will be significantly resistant. Ultimately, this is a “buy on the dip” type of market, but you should build a … Continue reading DASH/USD and LTC/USD Technical Analysis November 7 2017

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DASH/USD

DASH continues to go sideways overall, as we are in a relatively well-defined consolidation phase. Ultimately, looks as if the $250 level is going to continue to be massively supportive, while the $300 level will be significantly resistant. Ultimately, this is a “buy on the dip” type of market, but you should build a larger position, and show quite a bit of patience as it will be needed.

LTC/USD

Litecoin continues to go sideways, with a slightly bearish attitude, at least until we can break above the previous uptrend line which we are approaching. As I look at this chart, it looks as if it is going to fail, so I look at a move above the $58 level as crucial. If we can break above there, then the market becomes a “buy-and-hold” scenario. Alternately, we could see this market roll over and reach towards the $50 level which of course has a significant amount of psychological importance.

Thanks for watching, be back tomorrow.

The post DASH/USD and LTC/USD Technical Analysis November 7 2017 appeared first on NEWSBTC.

New French Restaurant in New York City Accepts Bitcoin, Ditches Visa/MasterCard – CryptoCoinsNews


CryptoCoinsNews

New French Restaurant in New York City Accepts Bitcoin, Ditches Visa/MasterCard
CryptoCoinsNews
A new French restaurant in New York City is taking things one step further to give diners a unique experience: it’s letting them pay in bitcoin. La Sirène, which opened on Friday, is located on Upper West Side, and proclaims to be an authentic French


CryptoCoinsNews

New French Restaurant in New York City Accepts Bitcoin, Ditches Visa/MasterCard
CryptoCoinsNews
A new French restaurant in New York City is taking things one step further to give diners a unique experience: it's letting them pay in bitcoin. La Sirène, which opened on Friday, is located on Upper West Side, and proclaims to be an authentic French ...

Bitcoin Cash Price Technical Analysis – Can BCH/USD Hold $580-600?

Key Points Bitcoin cash price is trading in a range, but remains supported above the $580 level against the US Dollar. There is a connecting bearish trend line forming with resistance at $620 on the hourly chart of BCH/USD (data feed from Kraken). The price might correct a few times toward $580-560, but it is … Continue reading Bitcoin Cash Price Technical Analysis – Can BCH/USD Hold $580-600?

The post Bitcoin Cash Price Technical Analysis – Can BCH/USD Hold $580-600? appeared first on NEWSBTC.

Key Points

  • Bitcoin cash price is trading in a range, but remains supported above the $580 level against the US Dollar.
  • There is a connecting bearish trend line forming with resistance at $620 on the hourly chart of BCH/USD (data feed from Kraken).
  • The price might correct a few times toward $580-560, but it is likely to find support on the downside.

Bitcoin cash price is holding the $580 support against the US Dollar. BCH/USD needs to break the $630-640 levels to gain upside momentum in the near term.

Bitcoin Cash Price Support

It seems like Bitcoin cash price is correcting lower with a bearish angle below $650 against the US Dollar. However, there are three important supports on the downside – $600, $580 and $560. As long as the price is above these levels, it remains supported for more gains above $650. Recently, the price tested the $560 support zone and recovered toward the $640 level.

However, the upside move was protected by a connecting bearish trend line with current resistance at $620 on the hourly chart of BCH/USD. The pair moved down and traded below the 50% Fib retracement level of the last wave from the $560 low to $644 high. The downside move is currently finding support near $580. Moreover, the 61.8% Fib retracement level of the last wave from the $560 low to $644 high also acted as a support.

Bitcoin Cash Price Technical Analysis BCH USD

On the upside, BCH needs to go through the trend line resistance at $620. Then, it has to settle above $640 for more upsides in the near term. With the current trend, there are chances of it testing $700 if the $560 support remains intact.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is about move back in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is moving higher towards the 50 level.

Major Support Level – $580

Major Resistance Level – $620

 

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – Can BCH/USD Hold $580-600? appeared first on NEWSBTC.

BTC/USD and BTC/JPY Technical Analysis November 7 2017

BTC/USD Bitcoin has been reasonably flat over the last several sessions, but should find support near the $7000 level. The should line up nicely with the previous resistance line of the uptrend channel, so it’s likely that we should see plenty of buying pressure underneath. Bitcoin looks very healthy, but taking a bit of a … Continue reading BTC/USD and BTC/JPY Technical Analysis November 7 2017

The post BTC/USD and BTC/JPY Technical Analysis November 7 2017 appeared first on NEWSBTC.

BTC/USD

Bitcoin has been reasonably flat over the last several sessions, but should find support near the $7000 level. The should line up nicely with the previous resistance line of the uptrend channel, so it’s likely that we should see plenty of buying pressure underneath. Bitcoin looks very healthy, but taking a bit of a breather after a move higher makes quite a bit of sense.

BTC/JPY

Bitcoin has gone sideways against the Japanese yen as well obviously, but I think that the ¥800,000 level underneath will continue to offer support, and dips are buying opportunities. Ultimately, the buyers should return and push towards the ¥1 million level over the longer term, but this is a longer-term call, and in the meantime, we must assume that it is a simple grind higher.

Thanks for watching, be back tomorrow.

The post BTC/USD and BTC/JPY Technical Analysis November 7 2017 appeared first on NEWSBTC.

ALT COIN MONERO GAINS $16 AGAINST THE USD

Alt coin Monero moved $16 yesterday breaking above minor resistance level at $90. This price surge followed a bullish divergence pattern after November 2, a common pattern in all other alt coins except NEO. I expect a short term across the board appreciation of alt coin s in the coming sessions. ALT COIN NEM TESTING … Continue reading ALT COIN MONERO GAINS $16 AGAINST THE USD

The post ALT COIN MONERO GAINS $16 AGAINST THE USD appeared first on NEWSBTC.

Alt coin Monero moved $16 yesterday breaking above minor resistance level at $90. This price surge followed a bullish divergence pattern after November 2, a common pattern in all other alt coins except NEO. I expect a short term across the board appreciation of alt coin s in the coming sessions.

ALT COIN NEM TESTING RESISTANCE

alt coin NEMUSD Daily chart
NEMUSD Daily Chart for 07.11.2017

Alt coin NEM ended up as a bull after yesterday. Since price action is trending within a break out strategy, the two support and resistance trend lines defining the wedge before a break below are still important.

There is a stochastics buy signal in place and a strong reaction at $0.19. This is the break out price on October 31when alt coin NEM prices closed at $0.19 and triggered further NEM slide. If anything, the current correction up is a retest. As mentioned yesterday, we shall wait for a stochastics sell signal to form at the overbought territory.

Even though the sell pressure as denoted with that long upper wick with highs of $0.22 is high, our ideal sell zone remains unchanged at around $0.22 and $0.25.

ALT COIN DASH CLOSE ABOVE THE 20 PERIOD MA AFTER 22 TRADING DAYS

alt coin DASHUSD Daily chart
DASHUSD Daily Chart for 07.11.2017

As mentioned yesterday, the 20 period MA is an important level for alt coin DASH. Over an extended period of time, price action couldn’t close above it until after yesterday’s close of $287 and a test of resistance trend line at $295.

You also notice that this is after a bull divergence pattern was formed between October 9 and November 2. On November 5, DASH ended up with a bullish pin bar and a buy signal indicating DASH bulls build up. With that break above 20 period MA resistance line, DASH bulls can continue buying until a stochastic sell signal shows.

If you paste a Fibonacci retracement tool between August –September Hi-Los, important reversal points to watch out will be at $335 and $370 resistance levels falling at 38.2% and 23.6% correction levels. Both of those levels are significant.

ALT COIN IOTA REVERSING FROM $0.38 MAIN SUPPORT LEVEL

alt coin IOTUSD Daily chart
IOTUSD Daily Chart for 07.11.2017

There are two important technical considerations for this crypto pair. First is the obvious price action bull divergence with the stochastics. Note that between October 13 and November 2 lows of $0.40 and $0.32 respectively, stochastics were turning higher and higher.

This bull pressure build up has resulted in that double bar reversal pattern at support minor support line of $0.32. IOTA bulls should also note that the Morning Star pattern between October 21 and 24 marked a support zone which prevented further price depreciation yesterday. As you can see, after November 2 lows of $0.32 price actually inched higher afterwards.

Today, there is a high probability that there will be a break above the 20 period MA and the resistance trend line  following that double bar reversal pattern yesterday. If it does and IOTA end up closing above $0.38 now resistance level, bull target should be at $0.60. This level represents September 30 highs and a confluence point with Fibonacci correction level of 61.8% drawn from August-October Hi-Los of $1.1 and $0.32.

ALT COIN MONERO GAINS $16 AND TESTS $102 HIGHS

alt coin Monero Daily chart
Monero Daily Chart for 07.11.2017

Monero was in a rally mode yesterday. Following a bullish divergence as previously noted, price action was pushed back into the trading range after that double bar reversal pattern on November 2 and 3.

The reversal pattern was accompanied by a stochastics buy signal following sustained buy pressure over a 16 trading day period. Notice how the 20 period MA resistance  line couldn’t hold yesterday’s strong bullish candle. It is a mark of intent by alt coin Monero bulls. I expect prices to correct following this $16 surge propelled by above average volumes.

Since price action is playing within a bull flag, Monero bulls could end up retesting August highs of $155. Note that price action is reversing from the 23.6% Fibonacci retracement level between August highs and September lows.

ALT COIN NEO IN A TIGHT $4 CONSOLIDATION RANGE

alt coin NEOUSD Daily chart
NEOUSD Daily Chart for 07.11.2017

Unlike other crypto pairs, NEO trade range is very tight. In 4 trading days, price action has been in consolidation within a $4 range. The limits are between the lows of $24 and highs of $28 oscillating within a descending channel.

Zooming in close and you notice that this is a short term bull flag with support level at $22. Most alt coins are moving up and I expect NEO to rise with the tide. To do so, NEO bulls must break above the 20 period MA and the minor resistance line at $28.

Notwithstanding, we cannot ignore that we are in a larger bear trend and we expect USD bulls to jump in at around $40 resistance level.

All charts courtesy of Trading View

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Ethbet Development Continues After Crowdsale Sells Out During First Week

Ethbet – the first gambling platform on the Ethereum blockchain that has announced support for peer-to-peer betting – launched its much-anticipated crowdsale on September 17th. Almost 70% of all available tokens were sold during the first day, with the remaining tokens being bought over the next several days, leading the crowdsale to permaneantly close to … Continue reading Ethbet Development Continues After Crowdsale Sells Out During First Week

The post Ethbet Development Continues After Crowdsale Sells Out During First Week appeared first on NEWSBTC.

Ethbet – the first gambling platform on the Ethereum blockchain that has announced support for peer-to-peer betting – launched its much-anticipated crowdsale on September 17th. Almost 70% of all available tokens were sold during the first day, with the remaining tokens being bought over the next several days, leading the crowdsale to permaneantly close to new investors after only four days. Since then, development on Ethbet has continued and token holders are looking forward to what the platform will have to offer in the coming months.

The unique feature that drives many towards Ethbet is that it will be the first Ethereum-based platform to allow players to bet directly against each other, a feature not yet offered by any of its competitors. Utilizing the advantages of its peer-to-peer architecture, Ethbet is able to offer lower fees to its players, as they bet against each other instead of against a house. Some other Ethbet features include a provably-fair source of randomness, transparent betting, open-source smart contracts, and no need for user deposits, withdrawals, or registration. With long-term plans including the ability to gamble using any Ethereum-based token to be added to the platform, Ethbet’s future is looking bright to many of its investors.

The Ethbet platform features an off-chain matchmaking service, allowing for users to efficiently offer and take bets. This is done off of the blockchain to allow bets to be relayed instantly and for free. After a match can be made between the bets of two users, the bet can be executed on the blockchain using an Ethereum smart contract, providing a high level of security, redundancy, and transparency. Thanks to this architecture, the Ethbet platform is hoping to become a major player in the world of Ethereum-based dicing in the near future.

Although the Ethbet Crowdsale sold out quickly, Ethbet’s unique token (EBET) can still be purchased on large exchanges such as HitBTC. To learn more information about Ethbet, check out their website at https://ethbet.io/ as well as their technical whitepaper at https://ethbet.io/whitepaper.pdf

 

The post Ethbet Development Continues After Crowdsale Sells Out During First Week appeared first on NEWSBTC.

Money Manager VanEck Launches Cryptocurrency Price Indices

The firm behind a recent effort to launch a cryptocurrency-tied (ETF) has unveiled a set of new indices related to bitcoin and other digital assets.

The firm behind a recent effort to launch a cryptocurrency-tied (ETF) has unveiled a set of new indices related to bitcoin and other digital assets.

Ethereum Price Technical Analysis – ETH/USD Breakout Pattern

Key Highlights ETH price is slowly preparing for the next move and placed well above $291.50 against the US Dollar. There is a major contracting triangle forming with resistance at $301.50 on the hourly chart of ETH/USD (data feed via SimpleFX). The price has to clear the $301-302 resistance to gain traction in the near … Continue reading Ethereum Price Technical Analysis – ETH/USD Breakout Pattern

The post Ethereum Price Technical Analysis – ETH/USD Breakout Pattern appeared first on NEWSBTC.

Key Highlights

  • ETH price is slowly preparing for the next move and placed well above $291.50 against the US Dollar.
  • There is a major contracting triangle forming with resistance at $301.50 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price has to clear the $301-302 resistance to gain traction in the near term.

Ethereum price is slowly recovering against the US Dollar and Bitcoin. ETH/USD needs to clear the $301-302 area for more gains in the near term.

Ethereum Price Resistance

There were a couple of tiny swing moves in ETH price towards the $292-294 support zone against the US Dollar. The downside reaction was mostly supported by the $292 level and the price remains range bound. It seems like there is a major contracting triangle forming with resistance at $301.50 on the hourly chart of ETH/USD. The pair recently tested the triangle resistance near $302.60 and declined back towards $295.

A low was formed at $294.15 and the price was able to gather bids to move above the 100 hourly simple moving average. It has moved above the 23.6% Fib retracement level of the last decline from the $302.62 high to $294.15 low. The current price action is positive, and it seems like the price might soon test the 61.8% Fib retracement level of the last decline from the $302.62 high to $294.15 low. However, the upside move is likely to be capped by $300-301.

Ethereum Price Technical Analysis ETH USD

A proper break above the triangle resistance at $301.50-302.00 is required for more gains in the near term. Until there is a break, ETH might continue to move inside a range above $292. On the upside, the $309-310 remains a major hurdle for buyers in the medium term.

Hourly MACD – The MACD is not showing any major bullish signs.

Hourly RSI – The RSI is currently just above the 50 level with bullish angle.

Major Support Level – $292

Major Resistance Level – $302

 

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – ETH/USD Breakout Pattern appeared first on NEWSBTC.

India’s central bank is shutting the door on bitcoin and other crypto-currencies – Quartz


Quartz

India’s central bank is shutting the door on bitcoin and other crypto-currencies
Quartz
In a fairly definitive expression of its stance, a director of the Reserve Bank of India (RBI) has signalled that virtual currencies like bitcoin won’t be allowed in the country. “Our current position on bitcoins is that we will not be using it for any
These 2 companies are riding the bitcoin wave and their stocks have skyrocketed by more than 1000%Business Insider
Bitcoin Ranked 32nd Global Currency by Physical Money SupplyCointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Markets Update: Bitcoin Price Took A Dive After Breaching New HighsBitcoin News (press release)
CoinDesk –Bloomberg –The Hustle (blog)
all 91 news articles »

Quartz

India's central bank is shutting the door on bitcoin and other crypto-currencies
Quartz
In a fairly definitive expression of its stance, a director of the Reserve Bank of India (RBI) has signalled that virtual currencies like bitcoin won't be allowed in the country. “Our current position on bitcoins is that we will not be using it for any ...
These 2 companies are riding the bitcoin wave and their stocks have skyrocketed by more than 1000%Business Insider
Bitcoin Ranked 32nd Global Currency by Physical Money SupplyCointelegraph (Bitcoin, Cryptocurrency and Blockchain News)
Markets Update: Bitcoin Price Took A Dive After Breaching New HighsBitcoin News (press release)
CoinDesk -Bloomberg -The Hustle (blog)
all 91 news articles »

The environmental costs of bitcoin are not worth the candle – Financial Times

Financial TimesThe environmental costs of bitcoin are not worth the candleFinancial TimesThe recent spike in the price of bitcoin to over $7,600 has delighted cryptocurrency speculators and early investors the world over. Many consider the windfalls as…


Financial Times

The environmental costs of bitcoin are not worth the candle
Financial Times
The recent spike in the price of bitcoin to over $7,600 has delighted cryptocurrency speculators and early investors the world over. Many consider the windfalls as vindication of their belief that bitcoin is not just an experimental currency but a ...

Bitcoin Price Technical Analysis for 11/07/2017 – Don’t Miss This Pullback!

Bitcoin price is pulling back to the area of interest as the upgrade looms, but bulls could be waiting to go long at lower prices.

The post Bitcoin Price Technical Analysis for 11/07/2017 – Don’t Miss This Pullback! appeared first on NEWSBTC.

Bitcoin Price Key Highlights

  • Bitcoin price is still in correction mode and looks ready to pull back to the Fibonacci retracement levels on the 4-hour time frame.
  • Technical indicators are signaling that the uptrend could carry on once the correction is completed.
  • Sentiment for the cryptocurrency remains positive but investors could be paring risk as exchanges are prepping for the network upgrade next week.

Bitcoin price is pulling back to the area of interest as the upgrade looms, but bulls could be waiting to go long at lower prices.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. This means that the uptrend is more likely to resume than to reverse.

The 100 SMA is close to the 61.8% Fibonacci retracement level at the $6256.06 level and the ascending trend line connecting the lows over the past month. The gap between the moving averages has been maintained, which signals consistent bullish pressure.

Stochastic is heading south so bitcoin price could keep following suit until buying momentum returns. RSI has more room to tumble so the correction could stay in play for a while until both oscillators indicate oversold conditions and turn back up.

A larger pullback could last until the broken resistance around $5800-6000, which is closer to the 200 SMA dynamic inflection point.

Market Factors

The bitcoin network upgrade is due to take place in a week and it’s understandable that investors are starting to pare their risk ahead of this event risk. If it turns out anything like the previous hard fork, bitcoin price could be poised to reestablish its uptrend and possibly go for new highs after the upgrade.

Meanwhile, the US dollar is under a bit of selling pressure on a foreseen shift in the Fed’s bias as hawkish member Dudley announced his retirement plans in mid-2018. So far, the tax reform is still facing plenty of headwinds, which could also keep the currency’s gains in check for the time being.

The post Bitcoin Price Technical Analysis for 11/07/2017 – Don’t Miss This Pullback! appeared first on NEWSBTC.

Bitcoin is going mainstream, with a new futures market – ABC Online

ABC OnlineBitcoin is going mainstream, with a new futures marketABC OnlineThe Chicago Mercantile Exchange will soon begin trading Bitcoin derivatives (futures contracts), signalling the cryptocurrency is now a mainstream asset class. Bitcoin has had li…


ABC Online

Bitcoin is going mainstream, with a new futures market
ABC Online
The Chicago Mercantile Exchange will soon begin trading Bitcoin derivatives (futures contracts), signalling the cryptocurrency is now a mainstream asset class. Bitcoin has had limited use in the mainstream economy in part because the volatility of its ...
Ag Futures: Bitcoin futures on the wayTwin Falls Times-News

all 6 news articles »