Day: December 28, 2017

Interesting formation in the last 24HRs, NEM buyers might end up clearing last week’s highs at $1.1.

While at it, USD bulls might drive LTC prices even lower to $200 and $150 now that $250 was sliced though like butter.

LTC is not alone, look at DASH and check the triple bottoms…while sellers close below this significant level? Let’s wait and see.

NEM BUYERS EYE $1.1

Now, from last week price action, NEM buyers took charge and as it was, a long bullish candlestick was formed.

However, if you zoom in and study the candlestick viz a viz other technical indicators like BB, then you notice that there was some sort of over-extension and we might as well take both trades especially when signals presents themselves like yesterday.

I pasted a Fibonacci retracement tool on last week’s high lows and from the chart, NEM is finding support at $0.86 which is also the 38.2% level.

Taking cue from previous set ups, buyers should aim for at least last week’s highs at $1.1

AT $1000, DASH IS AT CROSSROADS

Ha ha, you know what? DASH is trending at IMPORTANT price levels and should there be any strong reaction, then it would prove definitive in the short to medium term.

Now let me tell you. If there is a close below this triple bottoms and a previous support level-look left at December 14 highs, then chances of $800-our ultimate bear target being cleared is high.

Very high I’m even placing possible bear targets at $650. These stochastics are not helping buyers either.

IOTA AT $3.3

Two interesting things happened yesterday. The first got to be those lower lows which closed above the middle BB and then of course that interesting support found at $3.3.

Undoubtedly, we are in a bear trend and IOTA price action is reversing from the 61.8% Fibonacci level.

Referring to Fibonacci reversal and extension rules, we shall project prices to touch sub $3.3 in the coming days.

MONERO BELOW THE MIDDLE BB, WILL IT BOUNCE?

Sell these Monero lower lows? This is getting more interesting as the day goes by. Yesterday we saw price action closing below the 20 period MA as we had anticipated but that was about it.

For more controls, we shall place a minor support trend line connecting December 22 and 2 lows and what we are seeing is some degree of support with the middle BB acting as immediate resistance.

Now here’s the deal, I’m pro sellers yes but any strong close above $400 will mess up my projection. Otherwise, $215 is where sellers should be eyeballing.

NOW AFTER CLOSING BELOW $250, WILL LTC COLLAPSE TOWARDS $200 OR $150?

Last week’s bear pressure is definitely spilling over to this week. While we can talk about the minor resistance trend line and how it has been ooohh soo perfect in rebuffing buyers, we would rather shift our attention to yesterday’s break and close below $250.

This guys is amazing and most importantly telling.

Sellers will be smiling especially with candlesticks banding along the lower BB and the stochastics sell signal in place feeding the sell frenzy clear in this chart.

My advice is to unload LTC and see what happens in the coming sessions.

All charts courtesy of Trading View

The post DASH AT THE PRECIPICE AS NEM BUYERS PUSH FOR $1.1 appeared first on NEWSBTC.

Competing technologies? Not so much argues Symbiont executive Caitlin Long who believes the best of both bitcoin and blockchain will prevail in 2018.

Key Highlights

• ETH price is moving back higher after testing the $670 support zone against the US Dollar.
• There was a break above a key bearish trend line with resistance at $702 on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair might continue to move higher and it could even test the most important resistance at $750-760.

Ethereum price is slowly moving higher against the US Dollar and Bitcoin. ETH/USD might continue to rise towards the next major resistance at $750.

Ethereum Price Upside Hurdle

There were further declines in ETH price below the $700 level against the US Dollar. The price declined below the $675 level and tested the $670 support zone. A low was formed at $663 from where an upside wave was initiated. During the upside move, the price was able to break the 23.6% Fib retracement level of the last drop from the $761 high to $663 low.

Moreover, there was a break above a key bearish trend line with resistance at $702 on the hourly chart of ETH/USD. The pair gained upside momentum and was able to move above the 50% Fib retracement level of the last drop from the $761 high to $663 low. At the moment, the pair is attempting a close above the 100 hourly simple moving average and the $718 resistance. Once the pair settles above the 100 hourly SMA, there can be a break above $725.

ETH buyers need to push the price above the 61.8% Fib retracement level of the last drop from the $761 high to $663 low. Once they succeed, there are high chances that the price will test the $750 resistance. Above $750, the price could even test the $761 swing high.

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

Hourly RSI – The RSI has moved above the 50 level, which is a positive sign.

Major Support Level – $700

Major Resistance Level – $750

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – ETH/USD To Retest $750? appeared first on NEWSBTC.

South Korea’s government sees Bitcoin price as “irrationally overheated,” reiterates its authority to shutter exchanges if needed. #REGULATIONS

Bitcoin Price Key Highlights

• Bitcoin price appears to be forming a short-term ascending channel on its 1-hour chart.
• Price has bounced off the channel support and might be due for a test of the resistance around $17,000.
• Technical indicators are giving mixed signals, however.

Bitcoin price is starting to trend higher on its 1-hour time frame, but technical indicators still reflect some bearish pressure.

Technical Indicators Signals

The 100 SMA is starting to cross above the longer-term 200 SMA to signal that the path of least resistance is to the upside. If this materializes, more bulls could hop in and push price to the top of the channel and beyond.

However, stochastic is indicating overbought conditions or that buyers are already feeling exhausted. If selling pressure returns, price could make another test of the channel support at $14,000 or even break lower.

RSI has room to climb so bitcoin price might still be able to hold its ground. Once it reaches overbought levels and turns back down, bears could take the upper hand.

Market Factors

Bitcoin price rallies have been limited on reports that South Korea is ramping up its efforts to curb bitcoin trading. Note that the nation takes up one of the top spots in terms of bitcoin activity, so restrictions could mean lower volumes.

This also probably explains why volatility has taken a hit recently. Apart from that, keep in mind that we’re approaching the last few trading days of the year, which means that profit-taking is in play.

Bitcoin’s inability to break past the $20,000 barrier on its latest surge has led to a bout of liquidation that also contributed to the latest tumble. Besides, the dollar has drawn support on the approval of the GOP tax reform package, which could lead to a big boost in business activity and equities in the coming months.

With bitcoin still hovering near record highs and stocks showing more upside, traders could favor this market for the time being.

The post Bitcoin Price Technical Analysis for 12/29/2017 – Small Uptrend in Play appeared first on NEWSBTC.

Despite the Indian government’s reluctance to embrace Bitcoin, the digital currency and its underlying Blockchain technology had a banner year.

It’s SegWit2x, but not the original SegWit2x. This version has virtually unknown “developers” who stand to profit from a vast premine. Oh, and they think they can “unlock” Satoshi’s coins. #NEWS

Bitcoin (BTC) has been wide-ranging over the past week after a strong pullback. The market cap now stands at US$235 billion on US$6.46 billion in volume over the past 24 hours. Volume has slowed broadly amongst the cryptocurrency markets, which is most likely due the holiday season.

Cryptocurrency exchange service Poloniex is taking steps to ramp up the information it gathers on customers.

Hackers and scammers netted nearly $490 million in 2017. In this recap, CoinDesk takes a look at the most important incidents and their impact.

Most major cryptocurrencies including Bitcoin, Ethereum, and Litecoin had a Christmas gift for those investors who had set up a buy limit order at lower prices last week. What can we expect from the cryptocurrency market in the new year? Here is a quick look

Cryptocurrency Overview

In a massive but temporary pullback, most cryptocurrencies saw a sharp decline to key support levels on the 21st.

Bitcoin Price Action

Bitcoin reached the 61% Fibonacci retracement level around $11,200. On Tuesday’s trading session, Bitcoin price formed a bullish engulfing chart-pattern reaching for the 23% Fibonacci retracement level of $16,427.

On the 4-hour chart, BTC/USD has broken below the Ichimoku cloud. The Kijun line has also crossed below the Tenkan line. The future cloud appears to be bearish.

Ethereum Price Action

Ethereum, the second largest cryptocurrency by market cap after Bitcoin, has been hanging around the pivot level of $718 after the temporary pullback towards $472 last week.

 Ethereum Founder Threatens to Leave While ETH Consolidates Before New Year

Ethereum’s founder is apparently fed up with the immaturity of the cryptocurrency community.

The 23-year-old Vitalik Buterin took to Twitter on Wednesday and threatened that he would leave if the crypto communities don’t get their act together.

He said people should “ differentiate between getting hundreds of billions of dollars of digital paper wealth sloshing around and actually achieving something meaningful for society.”

He believes people are focusing on posting meme about luxury cars and inappropriate jokes, which is not what the direction he envisions for the cryptocurrency world.

Ethereum has actually paved the way for hundreds of initial coin offerings. Now the total cryptocurrency market cap is around $0.5 Trillion. But Vitalik believes we have not quite earned this price explosion. Perhaps this could lead the way for a better crypto community in the new year.

What Do Cryptocurrency Bulls say?

Bitcoin and other cryptocurrency bulls continue to argue that it is another asset class called digital assets, like precious metals, stocks, real estate or bonds.

What Do Cryptocurrency Bears say?

Meanwhile, the bears remain concerned about the difficulties in regulation surrounding cryptocurrencies, believing that their lack of regulation will lead to their downfall.

What’s Next?

By now we have already experienced at least one massive pullback. But this doesn’t mean that we won’t see new all-time highs across the board in 2018. We also could see yet another pullback, whichever comes first.

Bitcoin could see drops to as low as $6,000 and gains to as high as $50,000.

Ethereum could see a pullback towards $359 and gains towards $1,700 in the new year.

This for sure makes investing in cryptocurrencies both exciting and high risk at the same time. With that, I’d like to wish you a happy new year, invest responsibly, and I’ll see you with more updates in 2018.

xoxo

Kiana

The post 2018 Bitcoin, Ethereum Overview appeared first on NEWSBTC.