Day: November 29, 2017

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

ETH/USD

Ethereum broke out during the trading session on Wednesday, clearing the $500 level. It now looks as if we are going to continue to find buyers in the Ethereum market on dips, and we should continue to go much higher. Given enough time, I believe that Ethereum will go looking towards the $550 level as the next logical round number. However, on the hourly chart we are crossing in the overbought part of the stochastic oscillator, and that of course suggest perhaps the pullback is coming before we move higher. Nonetheless, I remain bullish.

ETH/BTC

Ethereum also rallied against Bitcoin, but with Bitcoin skyrocketing over $1000 in the last 24 hours, it’s a most impossible to imagine going long against it. Because of this, I suspect that the 0.48 level is going to offer significant resistance, and we may very well pull back in the short term.

Thanks for watching, I’ll be back tomorrow.

The post ETH/USD and ETH/BTC Technical Analysis November 30 2017 appeared first on NEWSBTC.

All alt coins are depreciating across the board after testing record highs.

Let’s look at the charts:

AFTER TESTING SEPTEMBER 12 HIGHS, NEM NOW CORRECTS

In the weekly chart, bulls are in charge and that means in lower timeframes like the 4HR chart, buyers should be waiting for buy opportunities to load up their long positions.

Because of the current bearish divergence pattern which begun between November 26 and 29, USD bulls are NEM prices lower.

Traders should in turn wait until a stochastic buy signal is printed probably around $0.22 because as it is, it is likely that bears might close below $0.24 and the 20 period MA support lines.

DASH FOLLOWS BTC RALLY AND IS NOW TRADING AT RECORD HIGHS

After yesterday’s slow price action, DASH bulls are now trading at record highs just like Bitcoin.

The minor resistance trend line which was capping prices at around $640 was broken through after November 29 higher highs and the accompanying above average buy volumes.

As it is, DASH  prices look fair. For investors seeking to benefit from the same rally as BTC, DASH is an attractive alt coin to invest in. Traders should only be watching higher time frame trends to determine entries in the lower time frames.

At the moment, the weekly chart is bullish and therefore we only take long positions. Our immediate support is the 20 period MA and the trend line at around $640 just in case there is a correction from current prices.

ALT COINS IOTA BREAKS ABOVE JUNE’S HIGHS OF $1.3

This week has been historic for IOTA and after positive news following that collaboration with MicroSoft and 20 other companies, IOTA is gaining traction.

As we can observe in the weeklly chart, IOTA reversal was from below the 78.6% Fibonacci retracement levels. This meant that IOTA bulls were capable of pushing prices to current levels just as Fibonacci retracements and extension stipulate.

It did and right now prices are trending above June’s highs at $1.40. The daily and weekly charts are bullish with diverging %k and % d pointing at high momentum and IOTA demand.

As a result of this surge, traders are anticipating a correction. As it is $1.3 is our immediate support line. Should price break below it then traders should wait for better entries at around $1.1 and $0.98 support zone.

AFTER TESTING $214 MONERO IS NOW CORRECTING LOWER

For some reasons, Monero is dropping like a stone after testing highs of $214.

Because of this strong bearish engulfing pattern, a stochastics sell signal is clear in the daily chart.  Remember before this bear surge, the 20 period MA in the 4HR chart was our main support line. Monero bulls will be invalid if USD bulls convincingly close below this level in coming sessions.

Going forward, this bears will be in charge if bears push prices below August highs of $166 in the next few trading sessions.

Otherwise, this bear forecast will be null and void should prices bounce back and close above $170.

USD BULLS DRIVE NEO PRICES BELOW $34 MAIN SUPPORT LINE

After period of lower lows, NEO bear pressure broke below the support trend line of the bull flag. At the same time, USD bulls took out the main support line at $34.

Overly, despite these lower lows, our bullish skew remain. Because of this, we shall only wait until after a stochastic buy signal is forms at the over-sold territory before we trade.

Thereafter, NEO bulls should look to initiate long entries.

All charts courtesy of Trading View

The post ALT COINS DEPRECIATING AFTER TESTING RECORD HIGHS NOVEMBER 30, 2017 TECHNICAL ANALYSIS appeared first on NEWSBTC.

Going up against YouTube may seem like a fool’s errand, but even if the video giants control 95% of the market worldwide, the remaining 5% can still be an attractive market. An up and coming company from Russia has set its sights on this (and maybe more), using blockchain technology and cryptocurrency to sound out the possible future of internet advertising.

Native Video Box resembles YouTube in the same way that cryptocurrencies resemble traditional banks. It is an independent native video platform with a native ecosystem approach to advertising. In the current advertising industry, up to 70% of advertisers’ money is taken by intermediaries before it reaches the publisher. Today, with cutting-edge technologies of programmatic advertising, blockchain and tokenization, NVB has a chance to change the way the game is played.

In contrast to traditional services, NVB gives 75% of its advertising revenues to those who truly create content and deliver it to the viewer: the owners of video content (15%) and website owners (60%). Alexander Shishov, NVB founder and CEO, says “All of this gives our network an enormous advantage of organic growth, attracting the best platforms and licensed video content for a reasonable fee, which will thus be very attractive to advertisers.”

Native Video Box (NVB) was originally launched in Russia in early 2016 as a native video platform for websites with editorial content. They have since developed an MVP with machine learning that has acquired local business traction and are now refactoring the project to go global and implement blockchain as a cutting-edge adtech service. Its marketing and development team remains based in Moscow, but, as Shishov says, “the rest are spread out all over the world – just like our platform.”

A key advantage that NVB has over native advertising systems such as Taboola and Outbrain is their selection, based on machine learning, of video that is 100% relevant to the content of the page (and not to the user, in contrast to a service like YouTube) and a proprietary brand safety algorithm.

An advantage over systems such as Plista and Engageya (which are also partially oriented to monetizing through video advertising) is the large selection of inexpensive and relevant videos, due to NVB’s close cooperation with video bloggers and content creators.

Mr. Shishov remarks, “We don’t have direct competitors: for now, we are the sole platform that offers a turnkey solution for making money on video advertising for sites that don’t have sufficient quantities of their own video content in. Video bloggers are also given the chance with a single click to distribute their videos beyond the audience of the normal video hosting sites, and make a good income doing so.”

NVB is currently working towards the launch of an ICO on December 15. The ICO will offer an ERC-20 product token, which does not burn up by default on use; however, NVB reserves the right to burn up to 100% of the tokens that it receives in payment to service the operation of the system. The ICO has a hard cap of $15 million ($500,000 for the pre-ICO and $14.5 million for the main stage of the ICO).

The NVB token is an internal currency: all transactions among system participants are carried out exclusively in tokens. To buy advertising views, advertisers will have to acquire NVB tokens. Because NVB tokens are a cryptocurrency, they are a simple way to make payments to each individual blogger or site in any country worldwide, which solves the issue of regulatory documentation or settling financial claims, and also the problem of the high commissions of fiat banks (for currency exchange).

The pre-sale of tokens starts December 1 and runs to December 15, in two phases: in the first phase (December 1-5), the minimum for participation is $5,000. A 50% discount will be given to early backers, where 1 NVB token is equal to $0.50 rather than $1.00. In the second phase (December 6-15), minimum purchase will be $1,000.  At this stage, a 25% discount will be available, where 1 NVB token is equal to $0.75 rather than $1.00.

After this, the main body of the ICO starts December 16 and will run to February 1, 2018.

NVB is being advised by ICOBox, the global leader in the ICO market. ICOBox founder Mike Raitsyn calls NVB “a unique, intriguing project, which should greatly benefit from the opportunities afforded by its ICO. An ICO represents an opportunity to really get a project going, to bring a certain kind of conceptual model to life. Startups can be at various stages when they make their ICOs; some have already completed part of the project, others have only a great idea and huge ambitions.”

Nikki Stewart, founder of CSCC Media, a media marketing professional with more than a decade’s experience in digital media and internet communications, comments that “Native Video Box brings together the most cutting-edge video ad technologies in an entirely new ecosystem, created to benefit publishers and content creators.”

For more information, see the NVB website.

The post Native Video Box Aims High with Video Advertising ICO appeared first on NEWSBTC.

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

DASH/USD

DASH continues to extend gains, reaching as high as $770 during the trading session on Wednesday. We are starting to pull back though, as we crossed in the overbought part of the stochastic oscillator. However, it’s very likely that any type of pullback in this market will be a buying opportunity and therefore looking for a bounce underneath is probably the best way to play this market.

LTC/USD

Litecoin has broken above the $100 level, as we continue to go forward. Now that we have done this, pullbacks will be thought of as buying opportunities yet again, although we are starting to get a little bit stretch. I suspect that a couple of dollars will be given back, and then buyers will return to pick up the pieces.

Thanks for watching, I’ll be back tomorrow.

The post DASH/USD and LTC/USD Technical Analysis November 30 2017 appeared first on NEWSBTC.

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

BTC/USD

Bitcoin rallied again against the US dollar, as we are approaching the $11,000 level. At this point, anytime you get a pullback in the market there seems to be buyers. I would anticipate that the “floor” is probably the $10,000 handle. We are most certainly entering some type of mania at this point, and impulsive phase. Because of this, make sure that you have stop losses in place as they tend to reverse rather rapidly.

BTC/JPY

Bitcoin obviously rallied against the Japanese yen as well, reaching ¥1.25 million. Pullbacks of this point should continue to have opportunities to find value below, with the ¥1.2 million looking to be very supportive, as well as the ¥1.15 million level.

Thanks for watching, I’ll be back tomorrow.

The post BTC/USD and BTC/JPY Technical Analysis November 30 2017 appeared first on NEWSBTC.

The government does plan to regulate exchanges and wallet providers, but won’t intervene to help such startups get bank accounts, the minister said.

Key Highlights

• ETH price made a sharp downside move and broke the $458 and $420 support levels against the US Dollar.
• There was a break below a major bullish trend line with support at $462 on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair started recovering after trading as low as $398.04 and forming a base.

Ethereum price declined sharply against the US Dollar and Bitcoin. ETH/USD is recovering but might face sellers near $458-465.

Ethereum Price Resistance

There was sharp rejection and a downside move in ETH price from well above $500 against the US Dollar. The price declined by more than $100 and traded below the $458 and $420 support levels. The decline was such that the price even broke $400 to trade as low as $398.04. During the downside, there was a break below a major bullish trend line with support at $462 on the hourly chart of ETH/USD. Later, a recovery wave was initiated and the price moved above the 23.6% Fib retracement level of the last decline from the $513.75 high to $398.04 low.

The current recovery is very positive, but the pair is facing many hurdles on the upside near $465-470. The $458-465 support area could now act as a resistance. Moreover, the 50% Fib retracement level of the last decline from the $513.75 high to $398.04 low is around $455 to act as a resistance. It seems like there are many resistance forming toward $480 in the near term.

If the pair fails to break the $465 resistance zone, it might decline once again. On the downside, supports can be seen near $420 and $400 levels. Below $400, there can be heavy declines in ETH/USD.

Hourly MACD – The MACD is placed well in the bearish zone.

Hourly RSI – The RSI is correcting higher but it remains well below 50 level.

Major Support Level – $420

Major Resistance Level – $465

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – ETH/USD Downside Thrust and Reversal appeared first on NEWSBTC.

Four years ago, a Welsh man threw away a hard drive with 7,500 Bitcoins on it, while an Australian lost “thousands” of Bitcoins to a faulty USB stick. With Bitcoin’s price exceeding $10,000, the pain is now much worse.

Key Points

• Bitcoin cash price declined further and moved below the $1450 support area against the US Dollar.
• There is a new connecting bearish trend line forming with resistance near $1475 on the hourly chart of BCH/USD (data feed from Kraken).
• The price might correct a few points in the near term, but upsides are likely to be capped by $1450-1480.

Bitcoin cash price is under pressure below $1500 against the US Dollar. BCH/USD might continue to decline as long as the price is below $1500.

Bitcoin Cash Price Resistance

As we discussed yesterday, there were further declines in bitcoin cash price below $1460-1450 against the US Dollar. The price declined below the $1400 handle as well to test the $1300-1280 support area. A low was formed at $1280.8 from where the price started an upside correction. It has moved above the 23.6% Fib retracement level of the last decline from the $1610 high to $1280 low.

However, any further gains are likely to be capped by resistances such as $1450, $1475 and $1500 in the near term. An immediate resistance is around the 50% Fib retracement level of the last decline from the $1610 high to $1280 low at $1445. Above $1445, the $1450 level and a new connecting bearish trend line with resistance near $1475 on the hourly chart of BCH/USD are likely to prevent upsides. Moreover, the 61.8% Fib retracement level of the last decline from the $1610 high to $1280 low is around $1484 to act as a major hurdle.

Therefore, it seems like there are many resistances on the upside toward $1500. As long as the price is below the $1500 level, it remains in the bearish zone.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD has gained strength in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently well below the 50 level.

Major Support Level – $1280

Major Resistance Level – $1475

Charts courtesy – Trading View, Kraken

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

The WSJ reports that the Nasdaq will offer Bitcoin futures, possibly as early as June of 2018. The futures will be launched on Nasdaq’s NFX platform.

Bitcoin Price Key Highlights

• Bitcoin price has retreated sharply from a similarly steep climb but is regaining ground once more.
• Bulls appear to have returned on a pullback to the $9350 area and could take price back up to the nearby resistance levels.
• Applying the Fib extension tool shows how high bitcoin price could go from here.

Bitcoin price appears to have completed its pullback from the strong rally recently, allowing the uptrend to resume.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA on the 1-hour time frame so the path of least resistance is to the upside. The short-term moving average also held as dynamic support on the latest pullback, and its gap with the 200 SMA is widening to reflect stronger bullish momentum.

Stochastic is also heading north so bitcoin price could follow suit. However, this oscillator is already approaching the overbought zone to reflect weakening buying pressure. RSI has pulled up from the oversold region to indicate a return in bullish momentum and has more room to climb before hitting overbought levels.

Bitcoin price could climb to the 38.2% Fib next at $10700 then at the 50% extension close to the swing high at $11,105. From there, price could attempt to create new highs at the 61.8% extension or $11,522 then at the 76.4% extension at $12,037.11. The full extension is located at $12,869.54.

Market Factors

The increase in retail activity and trading volumes owing to the addition of 100,000 Coinbase accounts last week has been considered the main factor propping bitcoin price up. There’s also the anticipation for the CME bitcoin futures launch later this year that could potentially draw even more investors.

Dollar demand has ticked higher on progress in tax reform, though, and clearing Senate this week could mean more gains. Then again, lawmakers have to merge the existing versions from the House and Senate before getting it through to the White House.

The US currency has also drawn support from a GDP upgrade from 3.0% to 3.3% and optimism from Fed head Yellen. Keep in mind, however, that the core PCE price index due today could remind traders of weaker inflation expectations.

The post Bitcoin Price Technical Analysis for 11/30/2017 – Bulls Charging After the Pullback appeared first on NEWSBTC.

Coinbase has won a partial victory in its legal dispute with the IRS regarding the disclosure of user’s private information. The IRS is now requesting less data on fewer users.

Each new rally in Bitcoin is usually spurred on by some amalgamation of factors, but what has happened this year to drive it past $10,000?