Day: March 5, 2018

The Brazilian Securities and Exchange Commission has declared a bitcoin mining company to be unlawfully offering securities.

Key Highlights

• Ripple price traded above the $1.08 level yesterday before starting a new downside against the US dollar.
• There is a short-term connecting bullish trend line forming with support at $0.9350 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair must stay above the $0.9300 level to avoid further declines in the near term.

Ripple price started a fresh downside wave against the US Dollar and Bitcoin. XRP/USD has to move above $0.9800 to move back in the bullish zone.

Ripple Price Support

There was an extension of yesterday’s move above $1.03 in Ripple price against the US Dollar. The price traded above the $1.05 and $1.08 resistance levels. It traded close to the $1.10 level and formed a high at $1.096 before sellers appeared. Later, a downside move was initiated and the price declined sharply below $1.05. There was a break below the 50% Fib retracement level of the last upside wave from the $0.8846 low to $1.0962 high.

Moreover, there was a break below the $0.9800 support level. However, the downside move was protected by the $0.9300 support and the 100 hourly simple moving average. The 76.4% Fib retracement level of the last upside wave from the $0.8846 low to $1.0962 high also acted as a support. Furthermore, there is a short-term connecting bullish trend line forming with support at $0.9350 on the hourly chart of the XRP/USD pair. The trend line support, $0.9300 and the 100 hourly SMA are acting as crucial supports and preventing declines.

As long as the price is above $0.9300, it may bounce back. On the upside, a break above the $0.9800 level is needed for the price to move back towards $1.0300.

Looking at the technical indicators:

Hourly MACD – The MACD for XRP/USD is reducing the last bearish slope.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is correcting higher from the 30 level.

Major Support Level – $0.9300

Major Resistance Level – $0.9800

Charts courtesy – Trading View

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What are Blockchain Casinos and How Do They Work?

Blockchain casinos are becoming increasingly popular on the internet and, if you’ve just discovered the term, here’s a quick crash course in what blockchains are and how blockchain casinos work. The first thing that you need to understand, is what blockchains actually are. Essentially, a blockchain is a digital ledger that is used to record online transactions that use cryptocurrencies. The transactions are recorded sequentially and are available publicly.

Taking this principle and process a step further, we can apply them to online casino gambling. This gives you the emergence of so-called blockchain casinos, which essentially applies blockchain technology to online gambling. The result of this is that it gives online gambling an entirely new level of transparency as well as credibility.

Potential Problems that Blockchain Technology Can Solve for Online Casinos

To recap, blockchain technology is built out of neutral entities known as blocks. Each block is interconnected in a network which is known as a blockchain. The way in which blockchains are set up, any record (transaction) that passes through the chain, needs to have the correct value in each block. This results in a much higher level of fairness (neutrality) and accuracy, as well as transparency.

One of the biggest problems associated with conventional online casinos, is the fact that not all of them are on the level. In other words, there are many online casinos where data, such as winnings, gaming results, payouts, and so on, are deliberately hidden or partially obscured from public scrutiny. However, blockchain casinos are a completely new breed of online casino and are completely decentralized, with no need for an intermediary to verify transactions. This provides the ultimate fair and transparent system for the online casino industry.

Many gamblers do not realize the fact that playing at a casino is a major mathematical disadvantage and they literally have no chance of winning against the casino in the long run. The term “house edge” describes the fixed percentage of money that casino takes from its players, on average. So as long as there is a house edge and players keep playing, they will never go out as winners in the long run. The house edge is in every form of commercial gambling and means that the more you play over time, the more you will lose. You may get lucky in the short term, but the variance will soon do its job to return what “belongs” to the house.

How Zeroedge Online Casino Gaming Works

Zeroedge is a new cryptocurrency-based online casino with a difference. The unique platform utilises its very own cryptocurrency known as ZeroCoin, the only way to play the best casino games available at Zeroedge Casino. The most unique (and one of its biggest selling points) is that Zeroedge Casino is offers all players a true 0% house edge gaming experience.

This essentially means that all casino games such as roulette, blackjack, and slots, available at Zeroedge Casino will have no advantage to the house, unlike conventional online casinos. With most conventional online casinos, players often face up to 10% house edge in many casino games. The reason for this is that this is the only way that a conventional online casino can turn a profit, by stacking the odds in their favour.

Zeroedge does away with the dreaded house edge because they do not take their profit from the losses of their players. Instead, Zeroedge is focusing on generating a profit from rising value of ZeroCoin which increases due to demand for 0% edge games.  Simply put, the ultimate solution to the problem is creating a platform where playing games is “free”. Players are not required to pay any fixed amount to be able to play at the casino. This can only be achieved by creating a closed loop-economy with its native token. Making the supply of token limited, its value is directly proportional to demand. This model allows to offer 0% house edge games and be a viable business model.

Pre-ICO is open – 79% discount & low hard cap!

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The recent Monero surge has been impressive and at the moment, prices are testing a key resistance line at the 38.2% Fibonacci retracement level. We must remember that there is a hard fork in the pipeline and that could the reason why Monero is rallying.

This is not the only coin in our focus. Despite the small marginal gains, LTC prices are trending above our ascending wedge and all we need is a surge past $225 or February 26 highs before we can actually signal buy entries.

Let’s have a look at these charts:

XLM/USD

For us to warrant Lumens buys we need a confirmation and that will only happen when prices breach $0.40, a key trigger line in our analysis.

From yesterday’s price action, we can see attempts of higher highs and for a moment, Lumens prices were actually trending above the middle BB and $0.40. What we need is a convincing close or a break-out per say and any such patterns will signal longs in line with yesterday’s forecast.

In the 4HR chart, sellers are actually driving prices lower and with a double bar reversal and over bought stochastics, chances are prices might trickle lower and even test the middle BB at $0.35 or the break out line at $0.30.

Either any, considering our bullish skew and the trade pattern we are in, buyers can look for long opportunities and can enter when there are hints of reversal at these key support lines.

XMR/USD

There are some pretty nice price developments in this pair and while we remain overly bullish, buyers must recognize that Monero is testing a key resistance line.

However, before we delve deeper, let’s also acknowledge the fact that buyers are firmly in charge and are actually the driving force behind this resurgence.

From the look of things, we are in the 3^rd phase of a bullish break out pattern and as it is, Monero might fail to close above the 38.2% Fibonacci retracement level which is our immediate resistance line. Furthermore, notice how the bullish candlesticks are now banding along the upper BB in the daily chart.

In fact in the 4HR chart, bears are rejecting higher prices and suppose there is a slide, our buyers might found support at $330 and if not, then the 50% Fibonacci retracement level $300 looks to be viable level.

I will be neutral today and if today is bearish, then chances are sellers might actually drive prices towards our support levels as mentioned above.

EOS/USD

With yesterday’s slow EOS price movements, our forecast is constant.

Now that volatility is low, I expect the middle BB in the 4HR chart and $8 to remain our short term support as we expect higher highs in the coming session.

For initiation purposes, bulls might push higher today and if we see buyers clearing yesterday’s highs of $8.3, then we shall remain positive and even shift our short term buy targets to $10.

Otherwise, any depreciation below $7.5 will mean out stops are hit and sellers might find resistance at February 26 lows of $7.3.

LTC/USD

There is a positive follow through right there and even though LTC bulls are failing to find the necessary momentum for higher highs, the fact that prices are trending above the ascending wedge is important.

That can constitute a solid ground for buyers to initiate long positions with stops at $200 but we first need confirmation of this breakout and that is why $225 or $230 (February 26 highs) is a good trigger line for buyers.

NEO/USD

A quick glance at the 4HR chart and its evident that NEO prices are in range mode and near the support trend line clear in the daily chart.

In my view I will only recommend long or shorts when I see prices trending above $140 or below $100. Before then, I will remain neutral.

All Bitfinex, Bittrex and CoinBase charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, Monero and Lumens appeared first on NewsBTC.

Key Highlights

• ETH price formed a short-term top near $857 and moved down against the US Dollar.
• There is a key connecting bearish trend line forming with resistance at $855 on the hourly chart of ETH/USD (data feed via SimpleFX).
• The pair is currently trading around the $828-830 support area and it at risk of more declines.

Ethereum price started a new downside wave against the US Dollar and Bitcoin. ETH/USD may break the $828-830 support and decline further in the near term.

Ethereum Price Resistance

Yesterday, there was a decent upside move above $850 in ETH price against the US Dollar. However, the price failed to gain momentum and formed a short-top top around at $857. Later, a new downside wave was initiated and the price moved below the $850 support level. Moreover, there was a break below the $845 level and a close below the 100 hourly simple moving average.

The last decline was constructive and a new intraday low was formed at $828.46. At the moment, the price is correcting higher from $828. It has tested the 23.6% Fib retracement level of the last decline from the $857 high to $828 low. However, it seems like the price may not gain major traction towards the $850 level. A major resistance is around the 50% Fib retracement level of the last decline from the $857 high to $828 low at $843. Moreover, there is a key connecting bearish trend line forming with resistance at $855 on the hourly chart of ETH/USD.

Therefore, it seems like the pair may face sellers on the upside near the $840 and $850 levels if there is a correction. On the downside, the $826-828 levels are decent supports. A break below $826 could push the price towards the $800 level.

Hourly MACD – The MACD is gaining momentum in the bearish zone.

Hourly RSI – The RSI is now well below the 50 level.

Major Support Level – $826

Major Resistance Level – $850

Charts courtesy – SimpleFX

The post Ethereum Price Technical Analysis – ETH/USD Could Decline Further appeared first on NewsBTC.

Rumors are swirling that the SEC is targeting a notable startup structure for tokens, but no one knows for sure what would happen if it did.

When selling a property in many countries such as Australia and the UK, the usual process is to go through estate agents who list your property on popular portals such as RightMove and Zoopla. Most of the time, estate agents don’t handle the process of selling your property very well, with many property sellers having to arrange their own viewings and having to constantly chase up their agents.

Ever wondered why you can’t list your property on RightMove yourself and cut out the estate agent high commissions and upfront fees? Well the simple answer is that the property portal was founded by estate agents for estate agents (1). So the basic fact is if you want to reach a mass audience to sell your property in a safe and secure way, you have to use an estate agent.

Founder Anthony Pentland and co-founder Petros Georgiou have created a new property platform by the name of Agent Not Needed with a whole new concept in mind that has the estate agents worried. Their property platform is built for individuals, not agents, and provides the tools and marketplace to buy, sell and rent property directly online without the need for an agent. The Agent Not Needed property platform allows individuals to communicate, book viewings and make offers directly online speeding up the process and cutting the fees usually paid to estate agents.

Agent Not Needed launched their main token sale on 1st March 2018 selling their cryptocurrency utility token called ANN, which are selling at £0.025 each. The token sale is for the UK based company to raise the funds to develop the full blockchain version of their property platform and revolutionise the property industry globally. ANN tokens can be used to pay the listing fees (only when a property successfully sales), purchase additional features, advertise a business or sell to other users on the platform.

The project’s Telegram group was the fastest growing Telegram group in 2018 gaining over 10,000 members in less than 24 hours. The group currently has over 17,000 members and the Agent Not Needed private pre-sale sold out before their main token sale launched.

The UK government have already announced their plans to move land registry to blockchain under the project name ‘Digital Street’ by 2022 (2) and once completed, Agent Not Needed will be in a position to be the first property platform to implement the new system in the UK.

The UK land registry is not the only land registry in the world to be moving to blockchain, as it is currently being tested in Sweden, Ukraine, Dubai and has already been implemented in The Republic of Georgia.

For more information regarding Agent Not Needed and the ANN Token sale, visit their token sale website at https://tokensale.agentnotneeded.com their Telegram group https://t.me/agentnotneededofficial and their Property Platform www.agentnotneeded.com

Sources

1. RightMove. 2018. Our History. [ONLINE] Available at: http://plc.rightmove.co.uk/about-us/our-history.aspx. [Accessed 21 February 2018].
2. HM Land Registry. 2018. HM Land Registry Business Strategy 2017 to 2022. [ONLINE] Available at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/662811/HM_Land_Registry_Business_strategy_2017_to_2022.pdf [Accessed 21 February 2018].

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Key Points

• Bitcoin cash price was not able to move above the $1,280 and $1,290 resistance levels against the US Dollar.
• There is a key bullish trend line forming with support at $1,225 on the hourly chart of BCH/USD (data feed from SimpleFX).
• The pair could break the trend line support and $1,220 and may decline further in the near term.

Bitcoin cash price failed to move above $1,290 against the US Dollar. BCH/USD is currently moving lower and is testing a major support area near $1,220.

Bitcoin Cash Price Support

There was a decent upside move towards $1,280 and $1,290 yesterday in bitcoin cash price against the US Dollar. The price traded as high as $1,281 and it later faced sellers. It failed to move further higher and started a downside move below $1,270. It declined below the $1,250 support level and even settled below the 100 hourly simple moving average.

These are negative signs and it means that the price was rejected from the $1,280 level. At the moment, there is a key bullish trend line forming with support at $1,225 on the hourly chart of BCH/USD. The pair is testing the trend line support and is struggling to remain above $1,225. A break and close below the trend line could push the price towards the $1,200 level. On the upside, an initial resistance is around the 23.6% Fib retracement level of the last decline from the $1,281 high to $1,221 low.

However, the most important resistance is near $1,250. The stated $1,250 also coincides with the 50% Fib retracement level of the last decline from the $1,281 high to $1,221 low. Overall, the price remains at a risk of more declines below the $1,225 support.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD has moved back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently near the 30 level.

Major Support Level – $1,225

Major Resistance Level – $1,250

Charts courtesy – SimpleFX

The post Bitcoin Cash Price Technical Analysis – BCH/USD Testing Key Support appeared first on NewsBTC.

The crypto mine launched by Japanese IT firm GMO Internet has generated more than $3 million in revenue over the past three months.

Bitcoin Price Key Highlights

• Bitcoin price has recently broken above the neckline of an inverse head and shoulders pattern visible on longer-term time frames.
• Price is also moving inside an ascending channel on its 1-hour time frame and is testing support.
• This support lines up with the broken neckline, that might hold as a floor from here.

Bitcoin price is pulling back from its latest break above the $11,000 area of interest and might be due to resume its climb.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA on this time frame, so the path of least resistance is to the upside. This suggests that the uptrend is more likely to gain traction than to reverse. In addition, the 100 SMA lines up with the short-term channel bottom to add to its strength as a floor.

Zooming further back shows that the inverse head and shoulders spans $6,000 to around $11,000 so the resulting rally could be of the same height.

Stochastic is on its way down to indicate that the correction is still ongoing. Similarly, RSI is heading south so bitcoin price might follow suit. Then again, both oscillators are dipping into oversold territory to reflect exhaustion among sellers. Turning higher could signal that buyers are getting back in and ready to push bitcoin price to the next upside barrier at the channel resistance or $12,000.

Market Factors

Risk appetite returned to financial markets around halfway into the U.S. session when fears of a trade war seemed to fade. This propped commodities and stocks higher and bitcoin turned slightly lower in effect. Keep in mind that the market dynamic seems to be shifting recently, with bitcoin price taking advantage of risk-off flows once more.

The US dollar has also gained support from upbeat ISM non-manufacturing PMI, although it’s worth noting that the drop in the jobs component could signal a weaker NFP read on Friday. In that case, the US currency could slide back down on weaker tightening expectations, possibly favoring BTCUSD.

The post Bitcoin Price Technical Analysis for 03/06/2018 – Quick Break and Retest appeared first on NewsBTC.