Day: January 23, 2018

Innovate UK, the United Kingdom’s innovation arm, plans to invest more than $26 million in emerging tech projects, including distributed ledgers.

Key Highlights

• Ripple price is trading below a major resistance at $1.42-1.44 against the US dollar.
• This week’s highlighted crucial bearish trend line with current resistance at $1.4200 is still in place on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair must break the $1.45 resistance and settle above the 100 hourly simple moving average.

Ripple price is struggling to gain bullish momentum against the US Dollar and Bitcoin. XRP/USD has to overcome a major hurdle at $1.45-1.50 to resume its uptrend.

Ripple Price Resistance

The last low of $1.1316 is holding losses in Ripple price against the US Dollar. However, the price seems to be struggling to gain traction above $1.50. It recently recovered above the 50% Fib retracement level of the last leg down from the $1.635 high to $1.131 low. But, the upside move was capped by the $1.45 resistance and the 100 hourly simple moving average.

Moreover, the 61.8% Fib retracement level of the last leg down from the $1.635 high to $1.131 low acted as a resistance. Most importantly, this week’s highlighted crucial bearish trend line with current resistance at $1.4200 is still in place on the hourly chart of the XRP/USD pair. Therefore, the pair is facing a major upside hurdle at $1.45 and the 100 hourly SMA. A proper close above the started $1.45 resistance is needed for buyers to get control. The next major resistance above $1.45 sits at $1.65.

On the downside, the recent low of $1.13 is a decent support. An immediate support is at $1.22. If the price fails to stay above the $1.22 support, then it could even break the $1.13 low for more declines.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is slowly moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is moving to and fro around the 50 level.

Major Support Level – $1.2200

Major Resistance Level – $1.4500

Charts courtesy – Trading View, Kraken

The post Ripple Price Technical Analysis – XRP/USD Upsides Remain Capped appeared first on NewsBTC.

Today, our altcoin analysis should be on Stellar Lumens inverted head and shoulder pattern and how buyers might be loading up their long positions.

It’s all on maybes especially now we know that the trend is bearish right from the top. Anyhow, if it continues this way, the recovery might see buyers testing the main resistance trend line and that is what many want. We are all dying for a recovery.

Encouragingly, Lumens is not alone. The same set up is visible in NEM, EOS, LTC and NEO. Is this a turn of new buy tide? Hope so, lets ee what the charts got for us.

NEM SELLERS FAILS TO CONFIRM MINOR SUPPORT TREND LINE BREAK OUT

Contrary to expectation, bears couldn’t follow through with yesterday’s minor break out. Against all odds, there was a slight appreciation as NEM buy pressure pushed prices back towards the minor break out trend line.

What is interesting though is that all this developments did happen within the break out candle. This beckons more questions than answers in the coming sessions.

Technically, we are in a bearish trend but momentum wise, buyers are likely to load up their longs.  I this regard, we should be watching the reaction at the middle BB and $1.14 more so if NEM sellers fail to close below $0.83 today.

ALTCOIN ANALYSIS STELLAR LUMENS INVERTED HEAD AND SHOULD PATTERN

For more perspective, it won’t hurt if we analyse Lumens price action from two angles.

First, we must admit that confirmation of an inverted head and shoulder pattern after yesterday’s prices bounce off $0.43 neck line and that is what buyers want to see.

Now, relative to the secondary chart where we are seeing emergence of buy pressure, the questions we must ourselves is this:  Will there be enough momentum for a close above the minor resistance trend line?

From all indicators, if Lumens prices keep oscillating above 38.2% Fibonacci levels, then it is likely that a new trend is in the covers.

NEO FINDING SUPPORT AT MIDDLE BB IN THE DAILY CHART

Yesterday’s NEO prices did dip but the depreciation was $10 shy off the main support line at around $94. There is a double bar bear reversal pattern and the onus is upon bears to confirm that depreciation this week.

In line with that expectation and buy pressure build up, two things can happen: Either, NEO buyers bounce off the middle BB-clear in the daily chart-with this current double bar bull reversal pattern at around the 78.6% acting as trampoline or sellers ease up and wait for better entries at the 38.2% marking $155.

However, decisions to buy or sell will lie on price action. From my analysis, I will readily dismiss sells propositions if NEO prices trend above $155.

LTC BUYERS LOADING UP POSITIONS

If we paste a Fibonacci retracement tool between recent highs and Q4 2017 lows, LTC prices are dangling right at the 61.8% level.

In our entry chart, it is clear that buyers are loading up their long positions. Evidently, there is a double bar reversal pattern and a buy stochastic signals complementing the potential move up.

Of course, I will need confirmation. Nothing will be more pleasing than prices closing above $210 and the middle BB in the daily chart.

If that happens, we can consider buying say at around $230. It will be timely because that is when prices are above the 50% retracement clear in the daily chart.

EOS DOUBLE BAR REVERSAL PATTERN AT MAIN SUPPORT

The reaction at $12 is encouraging and it after all, EOS buyers might end up maintaining the main buy trend.

Remember, there is a double bar bullish reversal pattern right at main support. Because of this, EOS buyers should aim at last week’s highs of $15 in the coming sessions.

All charts courtesy of Trading View

The post Altcoin Analysis, Stellar, Nem, Litecoin, Neo, Eos appeared first on NewsBTC.

Even with a tumultuous past and harsh critics, stablecoin projects keep popping up, aiming to relieve some of the volatility in the crypto markets.

Key Highlights

• ETH price recovered a few points, but it faced strong sell offers near $985 against the US Dollar.
• Yesterday’s highlighted key bearish trend line with current resistance at $980 is still active on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair is struggling to move above the trend line resistance at $980 and is currently moving lower.

Ethereum price faced a lot of sellers recently against the US Dollar and Bitcoin. ETH/USD needs to break the $980 and $985 resistance levels to gain upside momentum.

Ethereum Price Resistance

There was a short-term recovery initiated in ETH price from the $904 swing low against the US Dollar. The price traded above the $950 and $960 resistance levels, but it failed to retain the bullish momentum. There was a break above the 50% Fib retracement level of the last drop from the $1071 high to $896 low. However, the upside move faced a strong resistance at $1000-1005.

A fresh downside wave was initiated from the $1009 high. ETH failed to move above the 61.8% Fib retracement level of the last drop from the $1071 high to $896 low, which is a negative sign. More importantly, yesterday’s highlighted key bearish trend line with current resistance at $980 is still active on the hourly chart of ETH/USD. The pair is currently moving lower and is trading below the $975 level. It seems like the trend line resistance at $980 may continue to act as a major hurdle for buyers.

If buyers succeed in pushing the price above $980, there is a chance of further gains above $1005 in the near term. On the downsides, the $910 level is an initial support followed by the last low of $896.

Hourly MACD – The MACD is slowly gaining pace in the bearish zone.

Hourly RSI – The RSI is currently struggling to move above the 50 level.

Major Support Level – $910

Major Resistance Level – $980

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – ETH/USD is Still Bearish? appeared first on NewsBTC.

Key Points

• Bitcoin cash price started an upside recovery from $1494, but failed to gain momentum against the US Dollar.
• There was a break above a connecting bearish trend line with resistance at $1600 on the hourly chart of BCH/USD (data feed from Kraken).
• The pair traded higher, but failed to retain momentum and started a new downside move below $1600.

Bitcoin cash price is struggling to gain momentum above $1650-1700 against the US Dollar. BCH/USD may resume its downtrend and it could even break the $1500 support.

Bitcoin Cash Price Resistance

There was a minor recovery initiated in bitcoin cash price from the $1500 swing high against the US Dollar. The price moved higher after trading as low as $1494. It moved above the $1550 and $1600 resistance levels. There was also a break above a connecting bearish trend line with resistance at $1600 on the hourly chart of BCH/USD. The pair traded past the $1650 level, but it failed to gain momentum.

Even the 23.6% Fib retracement level of the last drop from the $2123 high to $1494 low was broken. However, BCH buyers failed to break the $1680-1700 resistance levels. It traded close to the 38.2% Fib retracement level of the last drop from the $2123 high to $1494 low before starting a fresh downside wave. BCH is currently trading below the $1600 level and it looks like the price could decline further.

On the downside, the most important support is at $1500. An hourly close below $1500 could ignite further declines in BCH toward the $1420 level in the short term. On the upside, the price faces a strong resistance at $1680-1700.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is losing momentum and is moving back in the bearish zone.

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

Major Support Level – $1500

Major Resistance Level – $1680

Charts courtesy – Trading View, Kraken

The post Bitcoin Cash Price Technical Analysis – BCH/USD Fails Once Again appeared first on NewsBTC.

Bitcoin Price Key Highlights

• Bitcoin price is still treading carefully above the ascending trend line on the daily time frame.
• A bounce might be due as a doji has formed at the 100 SMA dynamic support on this chart.
• The next candle would need to close past the doji’s highs to confirm that bulls are regaining control.

Bitcoin price is struggling to stay afloat but the reversal candlestick at the 100 SMA on the daily chart could be a bullish signal.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA on this time frame, so the path of least resistance is still to the upside. This suggests that the long-term rally is more likely to resume than to reverse, and this ascending trend line could serve as support.

A doji can be seen right on the 100 SMA and near the trend line, but confirmation is needed before calling this a bullish signal. A daily candle closing above the reversal candlestick’s highs could be enough to draw more buyers back in.

Stochastic is on its way up from the oversold region to indicate that selling pressure is exhausted and buyers may be taking over. RSI still has a bit more room to fall, so a larger correction could be in play. The 200 SMA might be the line in the sand, as a break below this could lead to a steeper drop.

Market Factors

Buyers returning to invest in the cryptocurrency at cheaper levels are seen to be one of the primary factors for the slight bounce, as there have been no major catalyst from the industry itself.

Dollar weakness might be another factor since the currency has weakened across the board despite the lack of top-tier data. Risk-taking has also been bearish for the safe-haven dollar, and its weakness may have carried on to the BTCUSD pair.

A number of bitcoin forks are still lined up in the months ahead and this also appears to be contributing to the downside pressure. It doesn’t help that crackdowns are still carrying on in China and South Korea, leading traders to liquidate positions quickly.

The post Bitcoin Price Technical Analysis for 01/24/2018 – Reversal Candlesticks at 100SMA appeared first on NewsBTC.

It was back in 2013 that British newspaper The Guardian first called Berlin the “Bitcoin Capital of Europe”. Since then, fin-tech has continued to expand in the city.

Today, you can buy a place to live, book the trip of a lifetime, as well as eat and drink in plenty of trendy bars. You can even pay for further education using cryptocurrency.

Education

The European School of Management and Technology (EMST) first started taking payments for their courses in December 2016 in various cryptocurrencies. They currently accept Bitcoin, Ether, Litecoin, and Dash. Their CFO, Georg Garlichs, explained to The Local that as an institution, the EMST is hoping to remain up-to-date with financial innovation. They even intend to run a number of courses for students who want to learn more about the whole space. He went on to explain the premise behind cryptocurrency:

“Similar to an SMS, the digital currency enables worldwide money transfers within a few minutes without involving a bank. ESMT is an innovative and future-oriented business school.”

Dining Out

Bitcoin payments have been popular in Berlin for some time now. Leuchtstoff Kaffeebar is one such business that will accept cyptocurrency for their goods and services. For owners like Niels Göttsch, digital currencies represent fascinating innovation. The coffee shop owner told The Local:

“There’s no political decisions in there. The algorithm is transparent to everybody.”

Being outside of state control is also an appealing quality of Bitcoin and other cryptos. In addition, Göttsch loves the international nature of transactions, as well the lack of “random fees” charged by banks. However, when pressed about how many cryptocurrency payments his business takes, he responded:

“It was more in 2012. Now with the high fees it’s not that common anymore.”

Tech Startups

As well as plenty of opportunity to spend Bitcoin in Berlin, the tech startup scene there is thriving too. Rhian Lewis, a British software engineer and founder of the digital currency tracking website, countmycrypto.com is herself considering moving to the city on a full time basis. She currently works between the UK and Berlin. The developer explained the allure of Germany’s capital for a cryptocurrency enthusiast like herself:

“I’d never even visited [Berlin] before but I knew there was a lively tech community. I’d been involved in Bitcoin and alts [alternative cryptocurrencies] for about a year, and was part of an online community of crypto women. I mentioned on one of our Google hangouts that I would be working there and it turned out that one of the women on the call – Anna Kurth – was just about to start her own meet-up group for women in Bitcoin [in Berlin].”

For Lewis, Berlin is a hub of creative thinkers – both in a philosophical sense and a technical one. She recalls talking long into the night about innovation with various developers, anarchists, libertarians, entrepreneurs, and cypherpunks. She admits that buying a beer with Bitcoin isn’t practical anymore but believes in the startups that are calling Berlin home today. For her, it’s these companies that will take crypto into the next phase of its evolution. Finally, she compared both the Berlin scene, with that of London:

“Although I’d been to plenty of London meet-ups, most were quite business-focused. Level 39 at Canary Wharf was a frequent meet-up venue, and many of the people at the social events were either preoccupied with their startups or else figuring out how blockchain could work in the context of their banking jobs. In contrast, the grass-roots approach of Berlin’s crypto-enthusiasts was a breath of fresh air.”

Image: PixaBay

The post Berlin Continues to be Regarded as Europe’s Crypto Capital appeared first on NewsBTC.

U.S. Securities and Exchange Commission chairman Jay Clayton has once again expressed his concern with the attitudes and approach taken by many in the legal profession when advising ICO clients. Giving the opening address at the annual Securities Regulation Institute conference in Washington, Clayton said; “My first message is simple and a bit stern. Market professionals, especially gatekeepers, need to act responsibly and hold themselves to high standards.”

When will the market settle down? #PRICE_ANALYSIS

Stripe is ending its support for Bitcoin, but hypes several altcoins as possible contenders without integrating any of them. #NEWS

According to a Russian politician, the nation’s central bank are currently considering the Moscow Stock Exchange for cryptocurrency trading purposes.

In an interview with Russia’s TASS, a state-owned media outlet, the head of the State Duma’s (the lower chamber of parliament) Financial Market Committee, Anatoly Alksakov, spoke of the plans:

“We have the St. Petersburg International Commodity Exchange, the Moscow Stock Exchange, the RTS, but they actually act as a non-profit partnership. Although they are also ready to participate in this process, and there are specialists in stock exchange operations there. I suppose that, the Central Bank is now considering the Moscow Stock Exchange, perhaps also the St. Petersburg Commodity Exchange for this purpose. But now there is a stronger urge to work with the Moscow Stock Exchange.”

The interview supports news from August of last year. It was widely reported that the Moscow Stock Exchange was building the necessary infrastructure to offer cryptocurrency trades. It seems that the exchange is trying to embrace digital currency as fully as possible. This is further evidenced by their push for approval of Bitcoin futures. However, last month, the nation’s central bank knocked back the proposal.

Meanwhile, Russian Deputy Finance Minister Alexei Moiseev recently stated that his office may join with the central bank to curate a list of stock exchanges well-suited for digital currency trading. He went on to hint that other marketplaces may also be permitted to oversee such activities.

Such developments highlight Russia as something of a hub for cryptocurrency. Thanks to its cheap electricity and generally cool climate, many miners have setup shop there. This is further supported by last month’s cryptocurrency bill. Proposed by Russian premier Vladamir Putin, the legislation seeks the taxation of cryptocurrency miners. This effectively legitimises such business activity in the State.

However, despite positive news, the world power continues to present a mixed message when it comes to cryptocurrency. Politicians who initially called for the launch of the “CryptoRuble” are now considering dropping the proposal. Perhaps more confusing for citizens there, Russian officials suggested that digital currencies should not be accepted as a conventional payment option.

Image: PixaBay

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