Day: December 3, 2017

On November 30, Times Square saw a provocative promotion video, depicting a well-known computer game character Pac-Man, eating up the row of dollar, Bitcoin and Etherium signs. The shown video symbolizes the transition to the so called New Money Order, which Universa is striving to achieve. The video has been uploaded to the Universa official YouTube channel on the 1 of December https://youtu.be/SImff8RPCFI .

Universa is a new-age blockchain platform introducing a new technology designed to fix the weaknesses of Bitcoin and Ethereum. According to the project WP, this will be achieved by improving smart contracts and the process of tokenization. As the developers claim, Universa is providing an easy scalable blockchain technology and interface suitable for creating smart contracts and applications based on its blockchain.

The application of technology includes such fields as logistics and cargo tracking, AI financial predictions, agriculture, food and medical supplies control and many more. The platform is intended to satisfy the needs of everyday users as well, for it has such applications as smart home automation, airbnb, carsharing, etc. providing a system for tokenization of everything that requires decentralization and transformation to the blockchain.

On October 28, the day of the Token Sale launch, the project attracted more than $ 10 million during the first three hours. The company’s goal is to raise $100 million. According to the project’s whitepaper, the collected funds are to be spent on the protocol development, the creation of the Universa fund for investing in the blockchain based businesses, marketing, legal issues and other purposes.

The head of the project is Alexander Borodich, Russia’s well-known angel investor with the history of over 90 start-ups in his portfolio and former marketing director at Mail.ru Group. Among the advisors, there’s John McAfee, the creator of the McAfee Security antivirus and founder of MGT Capital Investments, who is going to use the Universa platform to implement his own blocking project McAfee Coin, with which he hopes to “change the venture capital market.”

As of today, Universa has attracted over $19 million during the token sale and keeps raising the funds very quickly.

The post Provocative advertisement of Universa Blockchain at Times Square, New York appeared first on NEWSBTC.

A lawmaker in New York has introduced four bills in an effort to spur research into possible uses for blockchain by the state’s government.

Venezuelan President Maduro has announced that the country will issue its own cryptocurrency called the ‘Petro’ as an alternative to the Bolivar amid hyperinflation pressures.

Key Highlights

• ETH price is correcting lower from the $478 swing high against the US Dollar, but it remains supported.
• There is a key contracting triangle forming with resistance near $478-480 on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair has to stay above the $450 support and the 100 hourly simple moving average to move back higher.

Ethereum price is correcting lower against the US Dollar and Bitcoin. ETH/USD has to stay above $440-450 and the 100 hourly SMA to remain in the bullish zone.

Ethereum Price Resistance

There was a decent price action in ETH price above $440 against the US Dollar. The price remained in the bullish zone and it recently traded as high as $478.05 before initiating a downside correction. It is important to note that the price faced a major connecting resistance trend line at $478 that prevented further gains. During the decline, the downside move found support near $440 and the 100 hourly simple moving average.

There was once a close below $448-450 and the 100 hourly SMA. However, the price moved back in the bullish zone above $448-450 and also settled above the 100 hourly SMA. It seems like there is a key contracting triangle forming with resistance near $478-480 on the hourly chart of ETH/USD. The pair is currently above the 38.2% Fib retracement level of the last drop from the $478.05 high to $441.65 low.

However, the price is struggling to gain traction above $460-465. Moreover, the 50% Fib retracement level of the last drop from the $478.05 high to $441.65 low is acting as a resistance. Overall, the trend is positive as long as the price is above $440 and the 100 hourly SMA.

Hourly MACD – The MACD is about to move back in the bearish zone.

Hourly RSI – The RSI is currently well below the 50 level and is showing a few bearish signs.

Major Support Level – $440

Major Resistance Level – $478

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – Can ETH/USD Hold 100 SMA? appeared first on NEWSBTC.

Alt coin NEM, IOTA, DASH and Monero are aiming for the moon while NEO is finding reprieve after a temporary dip caused by NEO poor PR.

Generally speaking, most alt coins are rallying. This is awesome especially if you got some of your investment tied up in any of these digital assets.

Let’s look at the charts:

NEM RALLY AND CLOSE ABOVE $0.26

After that strong rebound from support and close above $0.24 on December 2, we were expecting NEM bulls to surge and close above $0.26.

That is exactly what transpired. In doing so, it herald the beginning of a new bull wave after the break above main resistance trend line of the wedge in the weekly chart.

At current prices, August 30 all time highs is only $0.07 away. As it is we only take long positions going forward with immediate support at $0.24.

$820 REMAINS A SHORT TERM RESISTANCE ZONE FOR DASH BULLS

Fact is, as long as price action is above $670, bulls should be in charge. From our previous DASH price action alignment,our ultimate take profit level is $820.

Bull momentum is high as weekly and daily chart stochastics show and as such, traders should be taking long positions in the 4HR chart.

The 20 period MA is our immediate support and the minor resistance line is at November 30 highs of $820.

Any DASH close above that means bull continuation as per the trend set in the weekly chart.

IOTA BULLS TRADING AT RECORD HIGHS

That MS corporate endorsement is doing wonders for IOTA. Last week, $1.09 was added to IOTA. As a result there was that multi-level resistance break above in both the daily and weekly chart.

From Fibonacci, our take profits were at $1.30 but as it is, any dip is another buy opportunity and support of Internet of things proponents. Technically, after IOTA pulls obliterated our minor resistance trend line at $1.54, a new leg of a bull rally begun.

The 20 period MA which is finding it hard to keep up with bulls. November 29 highs at $1.54 should be our immediate support. However, the former takes precedence since it is flexible and updates every 4HRs.

For now we wait and see if that close above the upper BB will trigger a temporary correction from recent highs.

MONERO BULLS WATCHING $215 MINOR RESISTANCE LINE

In the 4HR chart, we shall watch two levels only:  The 20 period MA and November 29 highs of $215.

Overly, if Monero bulls manage to consistently close above the 20 period MA support  and stochastic bull momentum in the 4HR chart continues to high higher as in the weekly and daily chart then chances of $215 break above is high.

Any correction towards the middle BB presents a buying opportunity.

ALT COIN NEO BULLS AIM AT $50

Technically, every higher high is a NEO pump. After a FUD dip, NEO is gaining traction and is now trading above the main support line at $34.

So far, it has broken above a minor resistance trend line after that surge testing $40 on December 3.

Traders should take long position only with every dip and retest of the 20 period MA. Ideal swing target is at November 18 highs of $50.

All charts courtesy of Trading View

The post THE PUMP IS ON: ALT COIN TECHNICAL ANALYSIS FOR DECEMBER 4, 2017 appeared first on NEWSBTC.

Venezuelan president Nicolas Maduro has announced a new cryptocurrency called the “petro.”

Key Points

• Bitcoin cash price is moving nicely in the bullish zone above the $1450 support against the US Dollar.
• There is a major ascending channel forming with support at $1475 on the hourly chart of BCH/USD (data feed from Kraken).
• The price is moving in an uptrend and downsides remains supported near $1480 and $1450.

Bitcoin cash price remains bullish above $1450 against the US Dollar. BCH/USD is likely to move further higher toward the $1600-1650 levels.

Bitcoin Cash Price Support

There was a nice upside reaction in bitcoin cash price from the $1200-1220 support area against the US Dollar. The price gained pace and moved above the $1400 and $1450 resistance levels. It traded as high as $1619 and it recently started a downside correction. Sellers pushed the price below the 38.2% Fib retracement level of the last wave from the $1380 low to $1619 high. However, downsides remains limited by the $1450 and $1400 support levels.

There was a test of the 61.8% Fib retracement level of the last wave from the $1380 low to $1619 high. Buyers protected the $1472 Fib support area and the price is currently moving back higher. It seems like there is a major ascending channel forming with support at $1475 on the hourly chart of BCH/USD. The channel support might place a crucial role for buyers above $1450 in the near term.

As long as the price is above the $1450-75 levels, it remains in the bullish trend. On the upside, an initial resistance is around the $1550 level followed by the recent high of $1619. Above $1619, the most important resistance is around $1650-1680 and the channel upper trend line.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is currently reducing its bearish slope.

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

Major Support Level – $1450

Major Resistance Level – $1550

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD’s Uptrend Intact appeared first on NEWSBTC.

Bitcoin Price Key Highlights

• Bitcoin price zoomed up to one of the Fib extension levels marked in an earlier article before making another correction.
• Applying the Fib retracement tool on this move shows the nearby support levels.
• Price is currently testing an area of interest that might be enough to hold as a floor.

Bitcoin price is pulling back from yet another strong rally to new sets of highs, possibly drawing more buyers in.

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 appears to be holding as dynamic support as well since it lines up with an area of interest.

At the same time, this former support turned resistance level coincides with the 38.2% Fibonacci retracement level around $10800. The 200 SMA lines up with the 61.8% Fibonacci retracement level near $10000, serving as the line in the sand for the uptrend.

Stochastic appears to be on the move up to show that buying pressure is present. If so, bitcoin price could make it back to the swing high at $11834.89 or higher.

RSI, on the other hand, seems to be heading south so bitcoin price could follow suit and spur a larger correction until the oscillator hits oversold levels and turns back up.

Market Factors

Dollar weakness has contributed to the surge in bitcoin price over the past few days as jitters over potential impeachment on Trump’s dealings with Russia have weighed on the currency.

As for bitcoin price itself, traders are turning their attention to the December 18 launch of three bitcoin derivative products that could allow investors to short the cryptocurrency. This might bring in a fresh wave of volatility that could either undo the strong rallies or lead to more.

Traders are also anticipating the launch of CME bitcoin futures before the end of the year that would make it more accessible to retail investors.

The post Bitcoin Price Technical Analysis for 12/04/2017 – Another Rally Pullback appeared first on NEWSBTC.

Ethereum (ETH) underwent a tumultuous week following a breach of all time highs, and now currently carries a market cap of US$43.8 billion with US$819 million trade volume over the past 24 hours.

During a question-and-answer session following his speech in Phoenix, Arizona in late November 2017, Williams said that the Fed has no plans to develop its own digital currency but research is underway on its possible benefits for governments.

Simon Black believes that the US government and the IRS will seek out for large Bitcoin holders in the upcoming years to punish them for “evading” gains taxes.

This year’s Bloomberg Top 50 Most Influential People includes Vitalik Buterin, founder of Ethereum, in a nod to the growing cryptocurrency industry.