Day: November 28, 2017

Hello and welcome to News BTC’s Market Outlook November.

ETH/USD

Ethereum continues to go sideways against the US dollar, hovering above the $460 level. I think that Ethereum is essentially waiting for Bitcoin to break above the $10,000 level to feel confident enough to make a serious go at the $500 level. Pullbacks should continue to be buying opportunities, but a breakdown below the $440 level could send this market as low as $400 after that.

ETH/BTC

The Ethereum markets fell against Bitcoin, as Bitcoin looks likely to be the first of the 2 currencies to break out. Because of this, it’s likely that the market will continue to go a little bit lower here, perhaps reaching down to the 0.045 level underneath which should be the beginning of support. In general, I believe that this market is probably best left alone in the short term.

Thanks for watching, be back tomorrow.

The post ETH/USD and ETH/BTC Technical Analysis November 29 2017 appeared first on NEWSBTC.

Hello and welcome to News BTC’s Market Outlook November.

DASH/USD

DASH continues to go sideways, offering the $600 level as significant support. By doing so, it looks as if it’s only a matter of time before the buyers take advantage of the base that we have been building, and go higher. A break above the $650 level signifies that we are ready to continue the longer-term uptrend, and I believe that move is coming relatively soon.

LTC/USD

Litecoin continues to rally, although in somewhat of a choppy manner. I believe that given enough time, we will reach towards $100, and currently I see the $82.50 level as the “floor.” Buying on the dips continues to be the best way to play this market, and adding slowly mitigates some of the potential troubles with going long in this type of environment. We are overextended, so the occasional pullback is not only necessary, but healthy.

Thanks for watching, I’ll be back tomorrow.

The post DASH/USD and LTC/USD Technical Analysis November 29 2017 appeared first on NEWSBTC.

Hello and welcome to News BTC’s Market Outlook November.

BTC/USD

Bitcoin fell a bit after initially trying to rally on Tuesday, as we continue to meander around the $9800 level. I believe it is only a matter of time before the market tests the $10,000 level, and I suspect that almost everybody else in the market thinks this as well. The question becomes how long will it take to break above $10,000 handily? I suspect that we are about to see a lot of volatility, but short-term pullbacks should continue to offer buying opportunities, especially near the $9750 level.

BTC/JPY

Bitcoin rallied against the Japanese yen, and has already broken through the psychologically important ¥1 million level. It is because of this that Bitcoin continues to flex its muscles against the Japanese yen, and I think we will continue to see buyers come in on dips. The ¥1 million level now has become the floor in the market, and it looks likely that we will go looking towards the ¥1.16 million level next.

Thanks for watching, I’ll be back tomorrow.

The post BTC/USD and BTC/JPY Technical Analysis November 29 2017 appeared first on NEWSBTC.

The payment processing industry has been projected to grow at a 7 percent CAGR for the next five years. This indicates an increase in the reliance on online and offline payment processing by consumers and businesses. Almost everyone purchases items using either a credit card or on online stores like Amazon. Unfortunately, this simple process of paying for your items may leave you vulnerable to hackers who are targeting these systems.

Many payment processing firms experience frequent cyber-attacks. PayPal was one of the firms hit by a DDoS attack in 2016 and even retail chains like Chipotle have had their payment processing systems breached as recently as early 2017. Credit card fraud is also quite common in the payment processing industry with numerous hacks exposing users to identity and monetary theft. Home Depot was the subject of a breach where 56 million Visa and MasterCard were hacked. Others like Target Corp also lost customer debit and credit card information.

How can payment processing be secured?

The highlighted cases are only the most recent and high-profile cases. Payment processing firms seem to be struggling with cybersecurity. Unfortunately, this is a war that they cannot win. Any expert in cybersecurity will tell you that security patches are created after the breach has been detected. This means that payment processing firms will always be reacting to new breaches.

What if there was a way to eliminate the risk of hacking and phishing of user information. GoldenHill International Limited has been working on the conundrum, and the firm recently announced Truckcoin. This is a blockchain-based payment processing platform that secures all transactions while protecting user information.

Truckcoin uses an encrypted, decentralized ledger coupled with next-gen cryptographic measures to protect the platform. Unlike conventional blockchain where the public keys are constant, Truckcoin uses ring technology to shuffle the public keys. As a result, even those in the platform cannot monitor a single user by looking at the transaction history of the public key. This guarantees that payment information is completely secured. Additionally, since it is a cryptocurrency, hackers are unable to gain access to funds using any of the existing brute force cyber-attacks that they tend to use.

TRuckcoin is also based on the proof-of-work architecture instead of the proof-of-stake architecture. The former is quite robust, and it is the same architecture that Bitcoin uses. Proof-of-work blockchains may not be as many as proof-of-stake blockchains, but all the ones that exist are relatively successful. This is because they are robust and they tend to appreciate more than the latter.

Join the Truckcoin revolution

Investors are already rushing to join the truckcoin revolution before it goes live. The recent Pre-ICO was so successful that the coins available were sold out in under one day. Experts also believe that the ICO slated for 1^st to 31^st December will also sell out as fast. There are only 513,333 coins available. You can invest in the ICO by buying a ticket on the website that will cost 20-50 dollars depending on when you purchase it during the ICO period. Each ticket will earn you three truckcoins Considering the enthusiasm in the community and the unique proposition, make sure you are one of the first to join this lucrative ICO.

www.truckcoin.io

https://truckcoin.com/truckcoin-introduction/

https://www.facebook.com/Truckcoin-140772893219371

https://twitter.com/TruckCoin

https://bitcointalk.org/index.php?topic=2257104.0

The post Truckcoin: innovative cryptocurrency solving the perennial payment processing security problems appeared first on NEWSBTC.

Monero and IOTA bulls were on focus yesterday after that strong surge. There were signs of NEM revival after price action broke two levels of resistance and is now trending above the second level of resistance marked at $0.24.

At the moment though, bears looks like they are gaining the upper hand against NEO.

However, if this depreciation is contained by the minor support trend line, bulls might end up driving prices towards $45 or even $50.

Let’s look at the charts:

NEM BULLS CLEAR $0.22 AND $0.24

As mentioned before, NEM bulls should continue loading their long positions and be in sync with the under-valuation in the weekly chart.

So far, November highs have been cleared after that strong bullish candlestick hit the first and the second levels of resistance at $0.22 and $0.24 respectively.

Any retest of $0.24, the second level of resistance-now support, is another buy opportunity.

USD BULLS PUSHING DASH PRICES LOWER

Of course there is strong buy momentum in high time frames-the weekly chart to be specific. However, after that strong surge of prices, it’s only natural for prices to correct.

Right now, USD bulls are keeping prices from appreciating and closing above the minor resistance trend line at around $650.

In the 4HR chart, we can see DASH prices trending below the 20 period MA which is the main support trend line now resistance.

At the same time, we have a stochastic sell signal to complement the increasing bearish momentum. The minor support trend line is now acting as resistance with the middle BB.

If this bear momentum continues, bear targets will remain at $540 and $490 respectively.

IOTA BULLS BLAST THROUGH $0.98 AND $1.1

From price action itself, IOTA is breaking milestone after milestone. So far, two key resistance lines at $0.98 and $1.1 no longer hold.

IOTA bulls are eyeing the all time highs of $1.30 and just to put it to perspective; they are just $0.07 away from testing those highs. This week’s rally has been an explosion and in two, IOTA is up $0.40.

The bullish break out range that kick started this rally was just $0.35 and it took a whole week for that gain to happen.

Anyhow, the weekly, daily and 4HR chart are bullish and so bulls should aim at June’s highs.

MONERO BULLS AT RECORD HIGHS

Even though we had a bearish skew, Monero prices are moving higher. Before our immediate resistance line and upper limit of a transient Monero consolidation was broken, Monero bounced back from the support line at $154.

Price action is banding along the upper BB indicating strong momentum which is in sync with the weekly chart.

In case there is a reversal from these all times high, bears should target support lines at $174. This support is a perfect price level  for bulls to enter long.

NEO TESTS SUPPORT TREND LINE OF THE BULL FLAG

Prices and momentum are dropping but at least they are consolidating inside a bull flag.

As mentioned yesterday, in case USD bulls push NEO prices below the support trend line of this bullish flag then bear target will be at the main support line of $34.

However, if bull momentum picks up and a bullish candlestick confirms this, then buyers should aim at $45, 50 and $58 in that order.

All charts courtesy of Trading View

The post NEM AND MONERO APPRECIATES AS DASH BEARS DRIVE PRICES LOWER NOVEMBER 29, 2017 TECHNICAL ANALYSIS appeared first on NEWSBTC.

A new report suggests mobile wallets catering to the cryptocurrency market may not be as secure as consumers may desire.

Key Points

• Bitcoin cash price continued to correct lower and moved below the $1500 support against the US Dollar.
• There is a major bearish trend line forming with resistance near $1480 on the hourly chart of BCH/USD (data feed from Kraken).
• The price might extend its decline and it could even break the $1400 support in the near term.

Bitcoin cash price is moving lower towards $1400 against the US Dollar. BCH/USD might extend declines and remains at risk of more losses.

Bitcoin Cash Price Correction

Yesterday, we saw the start of a downside correction below $1600 in bitcoin cash price against the US Dollar. The price continued to correct lower and it recently moved below the $1500 support area. There was a break of the 61.8% Fib retracement level of the last upside wave from the $1148 low to $1750 high. It has opened the doors for more declines since the price is now below $1500.

At present, the price is trading near $1450 and remains at a risk of more declines. The next major support is near the $1400 level, which might attempt to protect further slides. On the upside, there is a major bearish trend line forming with resistance near $1480 on the hourly chart of BCH/USD. The pair might fail to break the trend line and the 23.6% Fib retracement level of the recent drop from the $1718 high to $1450 low. Above the trend line resistance, the $1550 level is a crucial resistance.

The mentioned $1550 resistance is close to the 38.2% Fib retracement level of the recent drop from the $1718 high to $1450 low. The overall trend is short-term bearish with chances of a test of $1400.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD has moved into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is reaching the 20 level.

Major Support Level – $1400

Major Resistance Level – $1500

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD Extends Correction appeared first on NEWSBTC.

The arrival of institutional investors has created openings for services similar to the prime brokerage that banks have long provided to hedge funds.

Thinking of issuing your own token? Be careful choosing the token rewards policy!

Bitcoin Price Key Highlights

• Bitcoin price has been on a tear and is currently testing the $10,000 levels.
• The ascending channel on the 1-hour time frame suggests that a steeper climb is underway.
• Price could head up to the $10,500 area, which lines up with a Fib extension level marked in a previous article.

Bitcoin price seems unstoppable in its climb, buoyed by higher trading volumes and investor interest.

Technical Indicators Signals

The 100 SMA is safely above the longer-term 200 SMA on the 1-hour time frame, confirming that the path of least resistance is to the upside. The gap between the moving averages is also widening to reflect strengthening bullish momentum.

Stochastic has also turned higher without even hitting oversold levels, which suggests that buyers are eager to push bitcoin price up. RSI is also heading higher so bitcoin price might follow suit.

The channel resistance is located around $10,500 at which take-profit orders might be located. If any of the nearby ceilings hold, bitcoin price could retreat to the channel support near $10,000.

Market Factors

It has been reported that Coinbase added 100,000 accounts leading up to the Thanksgiving weekend and the corresponding jump in volumes has sustained the rally. Anticipation for the CME bitcoin futures launch is also propping price up.

At the same time, resurfacing tensions with North Korea are bringing geopolitical risk back to the table. Cryptocurrencies tend to attract safe-haven flows then as traders move away from more traditional assets like stocks and commodities.

Meanwhile, the dollar has been able to recover against most of its rivals but there is still some degree of hesitation leading up to the Senate vote on the tax reform bill. A couple of Republican senators are threatening to vote against it, which could mean more setbacks even as Senate no longer needs to secure a super majority.

Looking ahead, rising volumes could still be seen in the coming days as more and more people turn to bitcoin while it dominates financial headlines.

The post Bitcoin Price Technical Analysis for 11/29/2017 – Steep Climb to New Highs appeared first on NEWSBTC.