Sally Ho's Technical Analysis 26th March 2019

Bitcoin
Bitcoin (BTC/USD) depreciated to key technical Support that we exactly identified in our 24 March 2019 analysis, testing the 3858.00 figure after Stops were elected below the 3933.65 level, then the 100-bar MA on a 4-hourly chart. Stops were also triggered below the 3921 area, representing the 50% retracement of the 4188.79 – 3655.00 range, and also below the 200-bar MA (3889.47) on a 4-hourly chart. A pullback was seen early in the Asian session with traders again eyeing the 3921 level.
Additional BTC/USD weakness will spotlight the 3815 level, representing the 38.2% retracement of the 3128.99 – 4239.37 range, followed by the 3771.89 area, representing the 50% retracement of the 4414.89 – 3128.89 range.
Technical Support is expected around 3815.17/ 3763.33/ 3684.13/ 3620.14 with Stops expected below.
Technical Resistance is expected around 4062.82/ 4111.39/ 4188.79/ 4239.37 with Stops expected above.
Upside price objectives remain around the 4163/ 4358/ 4673 levels.
On 240-minute chart, Price activity is trading between the 100-bar MA (3933.88) and the 200-bar MA (3889.34). SlowK has Bullishly moved above SlowD while MACD remains Bearishly below MACDAverage.
On 60-minute chart, Price activity remains below the 50-bar MA (3954.86). SlowK is Bullishly above SlowD while MACD and MACDAverage are Bullishly converging.
Ethereum
Ethereum (ETH/USD) reclaimed some lost ground during the Asian session after traders took out Stops below the 132.87 level as identified in our 24 March 2019 analysis.  The pair got as Low as the 130.64 level before moving higher and seeking to establish a base around the 132.87 area. On a 4-hourly chart, the 100-bar MA is coming in around 135.31, leading to some speculation it could be tested if the 134.99 area is absorbed, representing the 50% retracement of the move from 122.75 to 147.23.
Technical Support is expected around the 129.34/ 128.53/ 126.82 levels with Stops expected below.
Technical Resistance is expected around the 137.52/ 140.61/ 141.45/ 143.05 levels with Stops expected above.
Downside price objectives remain around the 119.57 level.
On 240-minute chart, SlowK has Bullishly crossed above SlowD while MACD remains Bearishly below MACDAverage.
On 60-minute chart, Price activity is nearest the 50-bar MA (134.75). SlowK is Bullishly above SlowD while MACD has Bullishly crossed above MACDAverage.
Litecoin
Litecoin (LTC/USD) searched for fresh conviction after traders were able to trigger some light Stops below the 58.08 level, representing the 23.6% retracement of the move from 62.22 to 56.80. Stops were also reached below the 58.04 level, the 100-bar MA on a 4-hourly chart. Technicians are eyeing the 58.87 level on a move higher, representing the 38.2% retracement of the 62.22 – 56.80 range.
Technical Support is expected around the 57.54/ 54.48/ 48.33 levels with Stops expected below.
Technical Resistance is expected around the 60.15/ 62.09/ 66.80 levels with Stops expected above.
Upside price objectives remain 74 level.
On 240-minute chart, the 50-bar MA is now around 59.19.  SlowK and SlowD have Bearishly converged while MACD is Bearishly below MACDAverage.
On 60-minute chart, Price activity is trading below the 50-bar MA (59.15). SlowK has Bearishly crossed below SlowD while MACD and MACDAverage are converging.
Bitcoin CashBCH/USD (Bitcoin Cash/ US dollar) orbited some key technical levels during the Asian session after yesterday testing key technical Support around the 153.21 level, right around the 38.2% retracement of the 232.10 – 104.80 range and just above the key 152.83 technical Support level identified in our 24 March 2019 commentary.  The pair continues to hug the 158.72 level, representing the 50-bar MA on a 4-hourly chart.
Technical Support is expected around the 152.83/ 150.87/ 145.95 levels with Stops below.
Technical Resistance is expected around the 171.62/ 186.47/ 194.60 levels with Stops above.
Downside price objectives remain the 110 and 82 levels.
On 240-minute chart, SlowK and SlowD are converging and MACD remains Bearishly below MACDAverage.
On 60-minute chart, Price activity is below the 200-bar MA (158.80). SlowK is Bearishly diverging from SlowD and MACD has Bearishly crossed below MACDAverage.
Source: Crypto Daily

Tron’s [TRX] Justin Sun announces USDT-Tron support on hacked exchange DragonEx

Hacks have been a recurring issue that have often crippled the cryptocurrency market, with the Cryptopia hack in January being a prime example. The latest victim to fall prey to this predicament was DragonEx, a crypto exchange which announced that its platform was hacked, on their Telegram channel.
The hack was reported on 24-25 March, while on 25 March, the Tron Foundation announced that the USDT-Tron trading pair will be supported by DragonEx. This announcement was part of a slew of updates from the Tron roster, which also included TRX Market announcing its support for the USDT-Tron pair.
It is not confirmed whether Justin Sun and the Tron Foundation were aware of the hack before announcing it on social media, but the timing of the announcement demonstrates that the Tron update followed the announcement of the hack.
Post the hack, DragonEx had announced,
“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation.”
Further reports have confirmed that that the lost assets include Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], and Qtum.
The exchange also announced its investigation of the hack, stating that the authorities were working on finding the perpetrators. An official message from DragonEx read,
“We have encountered attacks from hackers and our users’ crypto assets and DragonEx’s crypto assets are both stolen. International Policemen are investigating. Please wait for following announcement about the accurate loss situation.”
The post Tron’s [TRX] Justin Sun announces USDT-Tron support on hacked exchange DragonEx appeared first on AMBCrypto.
Source: AMB Crypto

OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

Coinspeaker
OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange
OKEx plans to catch up with Binance by scheduling the launch of its in-house decentralized exchange, DEX, for this June. The DEX will run entirely on OKEx’s own blockchain.
OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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Source: CoinSpeaker

CoinMarketCap responds to inaccurate data allegations; says such concerns are valid

CoinMarketCap, one of the prominent aggregators of cryptocurrency market data, was recently accused of manipulating trading volume. CoinMarketCap responded by stating that concerns over inaccuracies “were valid” and that it would be adding more data for its users to make better decisions.
CoinMarketCap is one of the top 500 most-visited websites, and is popular among crypto users for information regarding crypto prices, exchange volume, market cap, and rankings. However, a report published by Bitwise on 20 March suggested that the site’s “data was wrong”. The Bitwise report claimed that about 95% of Bitcoin’s exchange trading volume listed on CoinMarketCap was fake or non-economic in nature, “thereby giving a fundamentally mistaken impression of the true size and nature of the Bitcoin market”.
The crypto data aggregator site has notable influence over the cryptocurrency ecosystem, including the prices of cryptos. In early 2018, when CoinMarketCap removed numerous South Korean exchanges from its price calculations, a sharp fall in most cryptocurrencies’ prices was recorded, reported Bloomberg.
The trading volume of the popular website is in question yet again, and it has planned to fix the problem by including a set of new tools to offer more transparency in trading, said Carylyne Chan, the Global Head of Marketing at CoinMarketCap, in an email to Bloomberg News.
Chan gave examples of liquidity measures, hot and cold wallet balances, and traffic data for listed exchanges. She added,
“For instance, if an exchange with low traffic has $300M volume and just 5 BTC in its wallet, users will be able to draw their own conclusions without the need for us to make arbitrary judgment calls on what is ’good’ or ’bad,’” Chan said. “We want to state that our philosophy is to provide as much information as possible to our users, so that they can form their own conclusions and interpretations –- and not introduce our own bias into that mix.”
CoinMarketCap will be making a series of changes in response to concerns about fake trading volumes. In July 2018, the website said it removed volume requirements for exchanges to be listed, along with the introduction of seven-day and 30-day volume. It also started listing the date of establishment of exchanges to help users.
In response to people’s concerns, CoinMarketCap responded,

Source: Twitter
The post CoinMarketCap responds to inaccurate data allegations; says such concerns are valid appeared first on AMBCrypto.
Source: AMB Crypto

Limited Supply Principle stifling cryptocurrency regulatory approval, says CME Chairman Terry Duffy

Terry Duffy, the Chairman of the Chicago Mercantile Exchange [CME], is in the news after he cast doubts on the prospects of a publicly traded Bitcoin asset. Cryptocurrencies backed by real assets like fiat currency would be the only form of virtual currency that would fit the bill under regulatory oversight, he stated.
During a recent interview at FIA’s International Futures Industry conference, Duffy voiced his support for stablecoins backed by real dollars.
Stablecoins like Tether [USDT] are backed one-for-one by fiat and hence, are the ‘best of both worlds.’ They allow users to delve into the cryptospace, enjoying ubiquity and universality of payments while still being tethered to the centralized financial world.
He stated,
“How do we figure out how to get the cryptos in there, but just have them backed up by fiat, and let that work as it is.”
Cryptocurrencies are often seen as just another investment vehicle, where the value of the underlying coin is more important than its use cases. Duffy stressed that the adoption and use of decentralized currency should be of greater concern, than the actual rise and fall of the market.
The CME Chairman added,
“But the argument has gone only to the price of say bitcoin or any other cryptocurrency. No one is talking about, ‘How do I use this asset?”
Publicly traded Bitcoin [BTC] assets, like the much-touted Bitcoin Exchange Traded Fund [ETF] have been in a regulatory shackle for months now. Despite two proposals, the Securities and Exchange Commission [SEC] is yet to give its approval, with many claiming that doing so is hindering the mainstream growth of decentralized currency.
Duffy added that the main reason for the backlash against the ETF was the underlying cryptocurrency’s principle of limited supply. The protocol placed into Bitcoin is that there can only be 21 million BTC in supply, which the market is expected to reach in 2140 when the mining rewards dwindled to 0.
Cryptocurrency proponents often cite this principle as one that balances the market and reduces inflationary pressure. Sovereign currency can be created by the government at any time, which is a fundamental point of opposition within the crypto-community.
In light of this debate, Duffy stated that governments cannot operate unless “they run on a deficit.”
Regulation is the single biggest hurdle for cryptocurrency adoption, something Duffy acknowledged. The cryptocurrency community needs to get the nod from financial watchdogs if they want to break into the forefront of the financial realm, he believes.
Duffy concluded by highlighting the skepticism that regulators have when approaching the topic of cryptocurrencies,
“I do believe that the regulators right now are a little careful about just rubber stamping anything as it relates to crypto.”
The CME group, together with its cross-city rivals, the Chicago Board of Options Exchange [CBOE], set the cryptocurrency market alight by launching Bitcoin Futures in 2017. However, 15 months after the launch, the CBOE decided to delist the XBT contracts for March 2019, allowing the CME group to take over the BTC Futures market.
The post Limited Supply Principle stifling cryptocurrency regulatory approval, says CME Chairman Terry Duffy appeared first on AMBCrypto.
Source: AMB Crypto

Apple (AAPL) Stock Plunges After the Company Presents New Services

Coinspeaker
Apple (AAPL) Stock Plunges After the Company Presents New Services
It was expected that Apple’s Special Event would lead to sales increase and jump of shares’ price, but the effect was converse. The price decreased by 2 percent to $187,37 per share.
Apple (AAPL) Stock Plunges After the Company Presents New Services

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Source: CoinSpeaker

Kintaro Capital Receives License from Malta Financial Services Authority as a Private Investment Crypto Fund

Coinspeaker
Kintaro Capital Receives License from Malta Financial Services Authority as a Private Investment Crypto Fund
Kintaro Capital is one of the first EU crypto funds who received their license from the Malta Financial Services Authority (MFSA), licensing it as a Private Investment Fund (PIF) for cryptocurrencies and listed equities.
Kintaro Capital Receives License from Malta Financial Services Authority as a Private Investment Crypto Fund

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Source: CoinSpeaker

Breaking: DragonEx hacked; exchange reports loss of customers’ funds

DragonEx, a cryptocurrency exchange platform that claims to be “a safe and stable platform for Bitcoin and ETH transactions,” is in the news after it announced via their official Telegram channel that its platform had been compromised. The announcement stated that the exchange lost control of its users’ cryptocurrency assets. However, the exchange did not elaborate on the exact amount of loss incurred by DragonEx.
The announcement further read,
“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation.”
The exchange’s officials stated that the trading services provided to users on the platform will shut down. The team claimed that the exact turn of events, loss of assets and  recovery details pertaining to the hack would be released in a week, adding that the exchange “will take the responsibility no matter what.”
Source: Telegram
DragonEx’s statement on Telegram stated,
“We have encountered attacks from hackers and our users’ crypto assets and DragonEx’s crypto assets are both stolen. International Policemen are investigating. Please wait for following announcement about the accurate loss situation.”
Further, an admin of the channel, Joanne Long stated that the team had tracked down the addresses the stolen funds were transferred to. Based on the data collected, they ascertained that the assets lost during the hack included Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], Qtum, and Tether [USDT].
Source: Telegram
These coins were then transferred to leading exchanges such as Binance, Bittrex, and Huobi. As of press time, the coins transferred from the above addresses were frozen on Huobi and Gate.io.
Notably, this announcement was made only on the exchange’s telegram account. The last update on Reddit was three days ago, while DragonEx remained silent on Twitter.
The post Breaking: DragonEx hacked; exchange reports loss of customers’ funds appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Price Analysis: RSI Trendline Indicator Supports This Major Fundamental Analysis

Bitcoin breaks below the $4000 down mark, dragging the cryptocurrency market along with it. The total market capitalization of cryptocurrency markets also broke below the $140 billion mark.
The price of BTC at 5: 00 hours UTC on 26th March is $3965. It is trading 1.5% lower on the daily scale. Bitcoin has built strong support near $3850, a break from that could revive the bears of 2018.
Bitcoin Halving To Affect the Price?
The traders seem to be sending mixed signals. The ‘halving of Bitcoin,’ an event that will reduce the mining rewards by half occurs every four years. It was designed by Satoshi Nakamoto in such a miner to induce deflation in the system. As the mining reward is reduced to half, it is expected that the price of Bitcoin must increase to maintain parity between demand and supply.
Bitcoin halving event has occurred twice since 2009; First in Nov 2012 and the second in July 2016. The original miner reward was set at 50 BTC. The reward for mining a block currently is 12.5 BTC. The estimated halving date this time is 23 May 2020 post which the reward for mining a block will be reduced to 6.25.
Nevertheless, the price of Bitcoin during the second halving was $677. The price of Bitcoin is currently $3965. Hence, it has already risen five times its value since the previous halving but the difficulty has also increased considerably. We’re almost a year away from halving, and the miners are already at the brink of making a loss. Hence, to create a sustainable system, the price must compensate for the reduction in miner rewards.
The RSI Indicator
The RSI indicator is a momentum oscillator; The signal primarily oscillates between 70 (Over-bought) and 30 (Over-Sold). Bitcoin (RSI – 50) is currently neither in the over-bought region not in the over-sold territory. However, the long term RSI history of Bitcoin suggests that the bottoming is still a possibility.
If cue from history and Bitcoin is assumed to be in the accumulation zone, the RSI index during this period is expected to be towards the over-sold region before the beginning of a bull-season. Hence, assuming a long term bullish action, the price might see a further downtrend before towards over-sold region before the bull action really starts to take control.
Long Term RSI chart of BTC/USD ( Investing Scope from Trading View)
The long term optimism around Bitcoin deters the HODLER’s from changing their position. Moreover, the Hodling strategy has more often than not yielded stable returns. While the price seems to continues to consolidate around the $3900-$4000, the sideways action on Bitcoin could move either way.
The post Bitcoin [BTC] Price Analysis: RSI Trendline Indicator Supports This Major Fundamental Analysis appeared first on Coingape.
Source: CoinGape

Bitcoin (BTC) Price Signaling Additional Losses Below $3,900

Bitcoin price failed to surpass the $4,000 resistance level and declined against the US Dollar.
The price declined sharply and broke the key $3,940 support area to enter a bearish zone.
Yesterday’s highlighted major bearish trend line is intact with resistance at $3,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair traded towards the $3,850 support and it is currently higher towards key resistances.

Bitcoin price declined below important supports near $3,940 against the US Dollar. BTC might correct in the short term, but sellers are likely to protect gains above $3,940.
Bitcoin Price Analysis
After multiple failures near the $4,000 resistance, bitcoin price started a sharp decline against the US Dollar. The BTC/USD pair formed a swing high near $3,980 and later declined below the key $3,940 support area. Sellers gained control and the price even broke the $3,900 support level. The price traded to a new weekly low at $3,855 and settled well below the 100 hourly simple moving average. Later, the price started an upside correction above the $3,900 level.
The price cleared the 23.6% Fib retracement level of the recent decline from the $3,978 high to $3,855 low. However, the price is currently facing resistance near $3,920. It represents the 50% Fib retracement level of the recent decline from the $3,978 high to $3,855 low. In the short term, the price might correct above the $3,920 level. Having said that, there is a strong resistance near the $3,940 and $3,950 levels.
Besides, yesterday’s highlighted major bearish trend line is intact with resistance at $3,950 on the hourly chart of the BTC/USD pair. The 61.8% Fib retracement level of the recent decline from the $3,978 high to $3,855 low might also prevent gains near $3,930. Therefore, if the price corrects higher, it is likely to face a strong resistance near $3,940 and $3,950. A proper close above the $3,950 resistance plus the 100 hourly SMA is must for a decent rebound towards $4,000.

Looking at the chart, bitcoin price clearly moved into a bearish zone below the $3,940 support level. On the downside, an immediate support is at $3,880, below which the price is likely to revisit the $3,850 support. If there are more losses below $3,850, the next stop for sellers could be $3,800. On the upside, the main resistance is at $3,950, above which there are chances of a fresh increase.
Technical indicators:
Hourly MACD – The MACD moved back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD recovered recently, but it is still well below the 50 level.
Major Support Levels – $3,880 followed by $3,850.
Major Resistance Levels – $3,930, $3,940 and $3,950.
The post Bitcoin (BTC) Price Signaling Additional Losses Below $3,900 appeared first on NewsBTC.
Source: New feedNewsBTC.com