Day: December 15, 2017

DASH bears are driving prices lower with support at $820 looking likely to be the next destination.

This will be so especially if DASH bears close below the middle BB in the 4HR chart. Every lower low is a buy opportunity going forward.

Otherwise, NEM, LTC and IOTA look to be turning around and inching higher. If Monero bulls close above $330, the next target will be at $450.

Let’s look at the charts:

NEM PRICES HIGHER WITH $0.58 ACTING AS SUPPORT

NEM prices are trending above the minor resistance trend line after December 14 break out.

As a break out trade, we shall only take long positions in line with the bull break out and of course the trend in the weekly chart.

We have already seen a “retest” after that reversal from the minor support-previous resistance and the 20 period MA.

The 23.6% Fibonacci retracement is also another level to consider because any dip to that level represents another buying opportunity.

DASH BEARS DRIVING PRICES TOWARDS $820

DASH bears are driving prices  lower. Even though the weekly trend is bullish, we have not seen any significant moves this week.

In fact prices are mute and trickling low.

There is a stochastic sell signal in place just like in the daily chart and at the moment, any strong close below the 20 period MA will usher in a short term bearish momentum towards December 3 highs of $820.

However, any break and close above the minor resistance level means we go long.

TIME FOR IOTA BULLS TO REIGN

Our ideal support lies at $2.8. Considering the current bear drive, every lower low IOTA makes is a perfect buy opportunity.

As it is, we should load up our IOTA stake now that we have a double bar bull reversal pattern turning from oversold territory and a stochastic buy signal to complement it.

Because of this, we can enter long now or wait for a break and close above the minor resistance trend line to initiate longs. Additionally, to safeguard our entry, stop loss lies below December 15 lows.

MONERO PRICES IN CONSOLIDATION MODE

From the chart, it is clear that Monero is finding resistance at $335.  Nevertheless, there has been no break out.

I shall insist that any strong close above $335 will be desirable for bulls and as it is this $35 range is our buy zone in line with weekly chart bull trend.

Furthermore, the middle BB and $300 are our immediate support levels going forward.

LTC BULLS FINDING MINOR RESISTANCE AT MIDDLE BB

On December 15, a strong bullish engulfing candlestick and a stochastic buy signal were printed on our buy zone.

As it is, we are net bullish and therefore we should gear up to enter long the moment LTC prices close above the middle BB.

All charts courtesy of Trading View

The post DASH BEARS GIVING BULLS A BUY PRESENT WITH EVERY LOW- TECHNICAL ANALYSIS FOR DECEMBER 16, 2017 appeared first on NEWSBTC.

On December 15 the largest bitcoin payment processor in the world, Bitpay, announced it will now process payments for multiple blockchains. The first decentralized currency Bitpay has opted to utilize will be bitcoin cash.

Also read: Venezuelans Turn to Bitcoin as Government Crackdown on Mining Intensifies

Bitpay Will Now Process Bitcoin Cash for Merchant Invoices and Debit Card Loads

Bitpay has made an announcement that’s sure to please bitcoin cash (BCH) supporters as the firm has announced BCH payment processing. This means Bitpay’s merchant invoices and card load ups can be paid in bitcoin cash as soon as the company finishes integration. The company explains they have received multiple requests over the years to support more than one digital asset. The firm believes allowing merchants to accept payments stemming from other blockchains will open up new customer bases. Another reason Bitpay is moving to alternative blockchains is also because of the bitcoin core network’s congestion and high fees.

“Demand for Bitcoin transactions is outstripping capacity, causing miner fees to rise on the Bitcoin network,” says Bitpay’s announcement.

With multiple blockchain payment options, our merchants’ customers will be able to choose one with features, confirmation times, and miner fee levels that work for them.     

‘Bitcoin Cash Has Faster Network Confirmations and Significantly Lower Miner Fees’

Bitpay says they are not leaving the bitcoin core network behind and will continue to help build that chain. They are researching and developing ideas to make the network transactions more affordable and reliable. This includes assisting various efforts with the Lightning Network and Segregated Witness (Segwit) implementation. Bitpay details that Segwit could help fees drop and speed up the network but right now the situation is complicated.  

“With average transaction fees already around $20, we understand that Bitcoin alone cannot handle the current demand for blockchain payments,” Bitpay explains.

Bitcoin Cash is a blockchain created by a fork of the Bitcoin network. It allows for payments with significantly faster network confirmations and significantly lower miner fee costs.

All Bitpay Invoices Will Default to Bitcoin Cash

Bitpay reveals the first step for BCH integration will be starting with Bitpay’s Visa card loads. Further in early 2018, all Bitpay invoices will default to a bitcoin cash invoice, but customers will still be able to utilize bitcoin core invoices the company emphasizes. The Atlanta-based firm says they will be notifying the public and its regular merchants well in advance before the launch of bitcoin cash invoice implementation.

“You will also continue to only receive the settlement type you have chosen, with zero volatility risk from price swings,” Bitpay concludes.

What do you think about Bitpay integrating bitcoin cash for payment invoices and debit card loads? Let us know what you think in the comments below.

Images via Shutterstock, Pixabay, and Bitpay. 

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Bitpay Plans to Use Bitcoin Cash for Payment Invoices and Debit Loads appeared first on Bitcoin News.

Most of the action this week has been with the altcoins and Bitcoin has been relatively stable. Ethereum, Litecoin and Ripple all reached record highs and have hugely expanded their market capacities. Bitcoin has slowly inched up from $16,400 to around $17,600 where it currently trades, things could heat up again over the weekend though as more futures contracts will be launched.

The start of futures trading on the Chicago Board Options Exchange has been slow and steady. More significantly it has been hailed as a turning point for Bitcoin and crypto currency giving it more recognition with a little long overdue regulation and transparency. This elevated status will be given a further boost in the coming days as two more players enter the game.

The Chicago Mercantile Exchange, a much larger exchange than the CBOE, will launch its Bitcoin futures on Sunday. It is expected to attract higher volumes and a higher dollar value of trading so Bitcoin prices could well hit $20,000. The third exchange to offer Bitcoin trading is TD Ameritrade which controls the largest futures operation of any online brokerage firm. The company recently announced that it will allow Bitcoin futures contracts on its platform on Monday. This will result in a lot more liquidity and a lot more participation from retail traders.

Clients must have a minimum balance of $25,000, in order to participate in the futures according to the brokerage. The margin requirement will also be 1.5 times what the CBOE requires. JB Mackenzie, managing director for futures trading at TD Ameritrade, told Bloomberg:

“Right now we are taking the same approach we did with the Cboe product, to wait and see how it goes. We want to watch that market open and become an orderly marketplace and see who the participants are in that marketplace. This is the same process we use with any new product. We want to see how the market reacts.”

Volume on the CBOE contracts that have been trading over the past week has been a little on the low side according to a CNBC report. Around $60 million in notional value has traded each day on average. Compare that to the last 24 hours in the Bitcoin market which stands a volume of $12 billion according to Coinmarketcap.com.

The majority of crypto currency traders are based in Asia, outside the US where futures contracts are not available and the digital currency is traded directly. Only when the heavyweights such as JP Morgan Chase and Morgan Stanley allow their clients to trade crypto currency will things really heat up for institutional investors. Even so, there is still likely to be more action on the Bitcoin charts this weekend, get ready for the ride!

Photo courtesy of Reuters.

The post Further futures to boost Bitcoin appeared first on NEWSBTC.

An Italian woman in Denmark has been sentenced to six years in prison for hiring a hit on her former boyfriend using Bitcoin, renewing the debate over the use of Bitcoin in criminal activities.

In an interview on CNBC, Coinbase president, Asiff Hirji provided some veiled clues as to what is coming for the cryptocurrency exchange in the future and gives deeper insights into activities over the past few months.

Members of European Parliament believe that cryptocurrency is here to stay, but that clear cut policy framework and regulation are needed.

Byrne has partnered with a well-known Peruvian economist to start а Blockchain venture aimed at solving real world land registry problems.

In an interview with CNBC’s “Squawk Box” on Dec. 12, 2017, Lee claimed that the millennials are very interested in digital businesses, social media and Bitcoin. He further stated that the population group still has over 20 years to go before it peaks.