Tron [TRX/USD] Technical Analysis: Bulls help the price to breach through the immediate resistance

Tron [TRX] is pushing Ethereum out of the stage as it is better at scaling and is performing splendidly in terms of Dapps. The ninth-largest cryptocurrency in the world [by market] seems to be doing better than other cryptocurrencies.
The market cap of TRX is shy of $200 million to reach the $2 billion mark and the price at the time of writing was at $0.0270. The 24-hour trading volume of TRX was at $221 million.
1-hour
Source: TradingView
TRX prices show no sign of stopping now since they’ve broken the support at $0.0267, whereas the support line at $0.0212 has held the prices steady so far. The uptrend for TRX extends from $0.0215 to $0.0237, while the downtrend ranges from $0.0328 to $0.0273.
The MACD indicator shows a bullish crossover over the zero-line and is heading towards the upside. The histogram is slowly representing the same.
The Awesome Oscillator shows a failed attempt at a bearish crossover as the green bars are extending in height, indicating an increase in momentum and hence, an increase in the price.
The Parabolic SAR markers are seen forming below the price candles, supporting and pushing the prices to go higher.
1-day
Source: TradingView
The MACD indicator shows a possibility of a similar scenario as seen in the one-hour chart, a bullish crossover as the MACD and the signal lines are eerily close to each other.
The Stochastic indicator shows a perfect bullish divergence as the prices are rising continuously but the Stochastic shows a decreasing trend. The trend for Stochastic was changing at the time of writing as it was undergoing a bullish crossover as well.
The Chaikin Money Flow shows a negative indication as the money moving into the TRX markets is low and not coinciding with the bullish trend.
Conclusion
The one-hour chart is lit with bullish signals as indicated by the SAR, MACD, and AO indicators. The one-day is also showing promising signs for Tron in the future as indicated by the MACD, CMF, and Stochastic indicators.
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Source: AMB Crypto

Bitcoin Cash [BCH] and Dash can work towards bringing economic freedom to the world, says Roger Ver

Bitcoin Cash [BCH] has had a tumultuous time over the past few weeks from sliding on the price charts to become one of the biggest gainers right now. BCH’s biggest proponent has been Bitcoin.com CEO Roger Ver, who has advocated for the cryptocurrency since its inception in 2017.
In a recent interview with Dash’s Joel Valenzuela, Ver touched upon the situation of the bear market and the reasons for the Bitcoin Cash hash war that took place last November. The CEO agreed that 2018 was a big downer and that in some way, the developments had contributed to some success.
He said that it is somewhere in the middle of success and failure but in the end, the price of cryptocurrencies is not the perfect metric to gauge a coin. In his words:
“The price is the least interesting thing about cryptocurrencies, we need to look at what the digital currency actually does instead. If a coin or a network can bring economic freedom for all, then we will be able to say that the field is a success. Last year, the hype of 2017 died down but that is a pattern seen before and will be seen again in the future too.”
The discussion then moved onto the effects of the bear market and pointed out the massive layoffs that occurred in Shapeshift. Ver admitted that the current market behavior had made Bitcoin.com rethink the hiring situation too because budgeting for the future is important. He mentioned that his organization is not a group filled with Bitcoin Cash maximalists but rather will choose anything that will help make payments faster and simpler. Ver added:
“ We like anything that works. BTC just stopped and clearly it was time for other cryptocurrencies to step up. In a way the communities of Dash and BCH are almost similar in the way that both believe in a fully functional payment system that is fast and trustworthy.”
Ver further commented on the famous hash war and said that there was a stark clash in ideologies and many in the community did not like the roadmap put forth by Satoshi Vision and nChain. The CEO was frank in admitting that the animosity between the two will not be reconciled anytime soon.
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Source: AMB Crypto

Gemini’s Winklevoss brothers have plans for Bitcoin ETF approval

Gemini’s Tyler and Cameron Winklevoss, the CEO, and president, respectively, spoke about their plans to end the concerns of Securities and Exchange Commission [SEC] that believes that Bitcoin markets are prone to manipulations. The famous Winklevoss twins, who had sued Facebook’s founder Mark Zuckerberg for allegedly stealing their idea, appeared in Laura Shin’s podcast.
The twins have outlined a plan to win over regulatory approval for Bitcoin Exchange Traded Fund [ETF]. The duo said that the quickest way to do so is by “answering their call and (requesting) … more market surveillance on the crypto marketplace,”. The duo added:
“…we’ve started to do that with the Virtual Commodity Association SRO and bringing NASDAQ’s smartest technology to our marketplace, and those are the step in the right direction to getting regulators comfortable with eventually approving an ETF-like product.”
The brothers’ company, Gemini has recently launched an advertising campaign in New York City. The duo have invested in the campaign and it is seen all around with plastered banners on subways, in taxis across the city and even have billboards. This is their first campaign and since the company is based in New York, they started off by running the campaign in the city itself, the twins informed. They explained further:
“…it also happens to be one of the financial capitals of the world, and also has one of the preeminent Bitcoin, or rather, virtual currency regulators, New York DFS. So, it felt like a great starting point to start a campaign.”
When asked about who the target audience for the campaign was, the brothers cleared that it is not aimed at the regulators, but for customers. The duo also said that the campaign has already struck a chord with the crypto followers and that they need no convincing on the dream of crypto or its promise, as they are already well-read.
The Winklevoss’s twins also acknowledged the real problem such followers face in the world of crypto. They said:
“What they’re unsure about is how to engage in crypto in a safe and compliant manner, and so we’re really trying to just start the conversation and let people know that there are regulated exchanges and custodians like Gemini where you can easily buy, sell, and store your crypto and it’s not some Wild West.”
The duo says that the focus here needs to be on the narrative. They cited an example of Silk Road days where one could read a single article without mention.
“I’m sure you remember the Silk Road days where you couldn’t really read a single article without some mention, usually it was a headline or you know in the first part of the article, about Silk Road and how Bitcoin is anonymous and only used for illicit activity, and we know how wrong that narrative is and really has proven to be, but that didn’t take weeks or months to shake. It took years and even to this day, there are a lot of people who still believe Bitcoin is truly anonymous.”
However, they do not believe this is the case. According to the brothers, it is important to start a dialogue and educate people that it is a valid technology and there are secure ways to engage with it and the duo reasoned this by saying:
“because what we really don’t want is a lot of sophisticated people who believe in the technology who miss out on that next wave of getting involved.
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Source: AMB Crypto

Bitcoin SV [BSV] Technical Analysis: Long-term volatility drops; short-term bulls arrive

Bitcoin SV managed to run with the market momentum and saw meager gains, as the market rose from its monthly low of $117.78 billion to cross the $120 billion mark. Barring XRP’s minor decline, the rest of the top coins in the market are seeing minimal green with Bitcoin Cash [BCH] being the highest gainer.
At press time, the nChain spearheaded project, Bitcoin SV, has edged up the US dollar by 1.37 percent and is priced at $76.27. The market cap of the BCH hardfork is on the rise at $1.34 billion, with a large gap of over $200 million re-established against the eleventh-placed Cardano [ADA].
In terms of exchange volume dominance, the top two spots are taken by BitMart, with the following BSV trading volumes: $6.94 million at 11.58 percent and $6.18 million at 10.31 percent in the BSV/BTC and BSV/USDT trading pairs respectively.
1-hour:

The one-hour points to a recent uptick in the BSV prices as the collective market resurged, portrayed by the uptrend extending from $75.24 to $77.61. Previously, the coin saw two significant downtrends the first, a more severe one, extending from $85.02 to $77.7, and the second one from $77.7 to $75.27.
Bitcoin SV is closing in on its immediate resistance level placed at $77.40, after shooting up from its immediate support level of $74.34. The previous support and resistance level stood at $75.95 and $78.98 respectively.
The Bollinger Bands point to an uptick in the short-term volatility of the coin, marked by its recent increase. The Moving Average line indicates a bullish swing for the coin in the short-term.
The Chaikin Money Flow indicates that investors are putting funds into Bitcoin SV, signaling a bullish market as the CMF line is above 0.
The Fisher Transform indicator points to a cross-over of the Fisher and Trigger lines as the BSV market looks bullish.
1-day:

The one-day chart points to a bearish market, since the coin emerged in mid-November 2018, with stabilizing forces coming to the fore recently. The coin’s volatile price movement has subsided with relatively consistent daily changes for Bitcoin SV, following the trend of the collective market. Bitcoin SV has not managed to break the $100-price mark, nor has it fallen below $70 since the year began.
One major downtrend overshadows the coin’s one-day trend line, stretching from $219.20 to $78.43, and a brief uptrend experienced during mid-December, extending from $75.52 to $113.73. As mentioned earlier, BSV has begun to stabilize with the immediate support and resistance levels fairly close to each other at $74.67 and $84.63 respectively.
The MACD line indicates that the coin has been trading in a bearish market for most of its existence, barring a brief bullish swing in late-December.
The Parabolic SAR shows that the coin is in a bearish market as the dotted lines are aligned above the coin’s trend line.
The Relative Strength Index has not risen above the 50-mark since the coin emerged post the hardfork, the RSI at press time stands at 41.3.
Conclusion:
The volatile spree of Bitcoin SV is likely to end as the coin begins to settle in. In the short-run, indicators point to a bullish market as the collective market looks green, however, in the long-run, since its split from Bitcoin Cash, the coin has been in a bearish market, with recent signs of market stabilization.
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Source: AMB Crypto

Sindri Steffanson and six others sentenced for Iceland’s biggest mining rigs theft

Sindri Steffanson, who was accused and arrested for looting mining equipment worth over $2 million from the mining firm Advania Data Centre, has been slapped with a four and a half years sentence. Sindri and six partners of the major cybercrime in the history of Iceland, have been convicted for a total of nine years and seven months for their involvement in multiple episodes of crimes. After fleeing the jail on December last year, he managed to travel all the way to Germany and was arrested in Amsterdam.
Sindri and his partners stole 100 mining machinery from Algrim Consulting prior to this heist. The crew also attempted to steal rigs from Borealis Data Centre but failed after they accidentally set off an alarm. Advania has been compensated with $200,000. However, the stolen machinery that accounted for nearly 600 mining systems, have not been found yet.
The Bitcoin mining wave in the Nordic island nation escalated following the prices of the digital assets that soared during the mid-2017s. Owing to the cold-climate along with low-cost energy sources, the world’s five largest mining farms are located in this country. With the increase in crypto adoption, there has been an increase in cybercrimes. To tackle the burgeoning security issues in the space, BitGo has collaborated with the trading firm Genesis Global Trading to provide a secure mechanism to execute the trading process.
The clients on its platform can leverage the vast network of trading partners of Genesis and also solve the underlying issue of making liquidity accessible to its consumers, i.e., a platform that renders the crypto consumers to trade the digital assets by keeping it safe on the device and not on an online-mode. The digital currency traded by the users would be kept safe in the cold storage. For this service, the users would not require to create a new account. Besides, there will be no additional fee levied on the users.
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Source: AMB Crypto

Litecoin [LTC] Technical Analysis: Bears retain long-term control of the LTC market

Cryptocurrencies around the world have taken a tumble of late, especially since January 10, and the case of Litecoin [LTC] is no different. LTC has been going through a regular downslide since the heights of the previous year and despite some bullish resistance, is struggling to improve on its value against the US dollar which stands at $31.83 presently.
At the time of press, LTC retained its eighth-position in the list of world’s largest cryptocurrencies with a market capitalization of $1.914 billion. It also has a 24-hour trading volume of $602.28 million with ZB.com, contributing a significant 7.98% via the trading pair LTC/USDT.
1-hour
Source: TradingView
The uptrend for LTC in the one-hour time frame is struggling to hold and extends from $31.071 to $32.049. However, there is still some way to go before LTC overhauls the downtrend that extended from $33.375 to $31.179. Both the resistance and support points are holding steady at $32.479 and $30.897 respectively.
The Bollinger Bands are holding steady after it seemed that they were contracting. This suggests that volatility is holding steady for the time being.
The Aroon indicator has the Aroon up line cross and go over the Aroon down line and is thus, closer to 100, indicating that some bullish resistance has overpowered the predominant bearish trend of the market for the time being.
The Relative Strength Index indicator has the trading market neither being oversold or overbought, suggesting that both the buying and selling pressures have evened themselves out.
1-day
Source: TradingView
The long-term chart for LTC gives a more bleak reflection of the fortunes of LTC. The bearish market dominates trends as the coin is yet to reverse the huge downtrend that extended from $89.180 in mid-July last year to $40.155 last week. The uptrend extended from $29.304 to $40.079, but it was brief and has since dissipated.
Both the resistance and support points at $40.203 and $23.422 respectively, have also held firm against bullish and bearish market pressures.
The Parabolic SAR has all the markers above the candlesticks, indicating that the brief bullish resistance has been snuffed out and that the bears have retained overwhelming long-term control of the market.
The MACD line has the signal line hovering under the MACD line, indicating a bearish market. However, the histogram would suggest otherwise which means that gradually, the bearish trend is flattening thanks to bullish influence.
The Chaikin Money Flow indicates that the market is trending below the point of zero, suggesting that money is still trickling out of the market and that it remains a bearish market despite bullish efforts to the contrary.
Conclusion
The one-hour chart suggests a minor bullish trend to LTC’s prices, as is suggested by indicators such as Bollinger Bands, Aroon and RSI. On the other hand, the long-term, one-day chart suggests a bleaker market with the bears still retaining control over much of the Litecoin [LTC] market.
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Source: AMB Crypto

Special Bitcoin [BTC] wallet to be experimented by Dutch bank ABN AMRO

In a week that has seen many parts of the world take a step forward in recognizing digital assets and cryptocurrencies, Dutch multinational bank ABN AMRO today announced that it will be experimenting with a Bitcoin wallet.
The wallet, named Wallie will be tested among 500 random customers of the bank’s digital banking services for its long-term viability. This experiment comes in the shadow of many in the banking community raising concerns about the security of digital storage.
Although not revealed over a press release or an announcement, ABN AMRO confirmed the experiment after few of the randomly selected customers reported receiving an e-invite to try out a new app. Despite the app not being publicly available to all, screenshots of the same have gone viral and stoked interest.
When asked about whether such an experiment was legit or not, ABN AMRO responded:
“We are currently doing an experiment with 500 customers. :)”
About the intent behind such an experiment, ABN AMRO said:
“..at the moment, we are mainly investigating and scanning what role we can play in the crypto economy. In doing so, we have a lot of consultations with the AFM and DNB to establish together what is important for consumers.”
ABN AMRO also further suggested that if found that such an initiative would have benefits for both sides then, the bank wasn’t going to be averse to the Bitcoin wallet being developed further and made more widely accessible.
A day after the London Stock Exchange agreed to share trading technology with a Hong Kong-based cryptocurrency exchange, ABN AMRO’s participation in the market through developing a Bitcoin wallet will help legitimize the industry in the eyes of many who still view it with suspicion. In that respect, it’s a welcome step that also helps cryptocurrencies such as Bitcoin become more accessible to people who know nothing about its use.
However, it does raise certain questions too. Cryptocurrencies in their decentralized form were intended to make sure that the individual is a bank in itself, and that all such currency circumvents the regulation and authority of big banks. ABN AMRO’s development of a Bitcoin wallet, on the other hand, will be a marriage of the two.
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Source: AMB Crypto

$16 million worth of Ethereum & ERC20 tokens stolen during Cryptopia hack

The year started with a bang as one of the leading exchanges reported a case of cryptocurrency heist that occurred on their platform. The exchange in the spotlight here is Cryptopia, a New Zealand cryptocurrency exchange. The platform released an official statement on January 15, 2019, stating that they faced a security breach, which resulted in a significant loss.
The platform, however, has still not disclosed details pertaining to tokens that were stolen from the platform and the worth of the tokens. To add on, the announcement stated that the exchange will be under maintenance until the case of the stolen tokens has come to a conclusion. It is currently being taken care of by the New Zealand police officers and the required regulatory authorities have been informed about the incident.
Now, a research by Elementus, a next-generation blockchain analysis company, outlines the timeframe of the heist and total tokens that were lost. The report stated that the funds were moved from the platform’s two hot wallets, one had Ethereum [ETH] and the other had ERC20 tokens, on January 13, 2019, 1:28 PM GMT.

This was followed by the disclosure of the cryptocurrencies that were stolen. The report stated that Ethereum and ERC20 tokens were worth about a whopping $16 million. It further states that this number was taking into consideration only information found on the Ethereum blockchain.
“The funds were taken from more than 76k different wallets, none of which were smart contracts. The thieves must have gained access to not one private key, but thousands of them […] It seems Cryptopia not only lost their funds, they also lost access to all, or nearly all, of their 76k+ Ethereum wallets.”
The largest amount of cryptocurrencies that were stolen was Ethereum, Dentacoin, Oyster Pearl, Lisk ML, Centrality, Mothership, Ormeus, DAPS, Zap, and Pillar.

Additionally, according to the report, the cryptocurrencies were spread across fourteen exchange platforms. The largest amount of cryptocurrencies were sent to Bibox, an AI-enhanced, encrypted cryptocurrency exchange platform. The second in line was Binance, the largest cryptocurrency exchange in terms of trade volume, and the third on the line is noted to be Houbi. The report suggests that the hackers have transferred over $882,632 out of the $16 million and that the majority of the tokens are still held in two different wallets.

The two wallets that have the stolen funds are identified to be 0x9007A0421145B06a0345d55a8C0f0327f62A2224 and 0xaA923Cd02364Bb8A4c3d6F894178d2e12231655C. These wallets have an approx. of $13 million worth of cryptocurrencies. Moreover, the report concludes that there are still over 1948 Ethereum wallets and about $46k in Ethereum remain at risk.
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Source: AMB Crypto

Ripple/XRP: “XRP is definitely coiling up”, says prominent trader and charting expert

Peter Brandt, the author of “Diary of a Professional and Commodity Trader” and a well-known trader tweeted the charts of Steller Lumens [XLM] and XRP on January 21, 2019.
Brandt tweeted the technical analysis chart of Stellar Lumens and set the first target as $0.0653 and the next one at $0.00150 and said “so basically worthless. Sorry.”
Source: @PeterLbrandt
A user, @BrandonVanB replied to Brandt’s tweet:
“@PeterLBrandt do you have any insight into XRP (Ripple). The fundamentals look amazing.”
Peter Brandt replied to @BrandonVanB with another technical analysis chart saying: “XRP is definitely coiling up”
Source: @PeterLbrandt
“Coiling Up” is a technical term used to signify a market which has the potential to make a strong move in one direction after being pushed in the opposite direction or held flat. The idea is that if a market should be headed in one direction due to its fundamentals but has pressure in the opposite direction, it will eventually make a strong move in the course of the original fundamental direction.
Moreover, the coiled move will be more significant and substantial than the move if it would have continued in the normal direction without interference.
Brandt’s tweet doesn’t necessarily mean that the movement of price will move upwards, it could go either way. In addition to the technicals, Ripple is on a crusade with a slew of partnerships with various institutions around the world.
Ripple has over 200+ partnerships which are spread over 40 countries and each one of them is using Ripple’s blockchain solutions, be it xRapid, xCurrent, or xVia.
Brandt’s tweet faced a lot of commotion in the community as Brandt had said that “XRP will replace NO portion of global forex trading volume” in August 2017.
@CarpeNoctom replied to Brandt’s tweet saying:
“Almost every crypto chart looks like that
So I guess everything is worthless soon
Sorry not sorry”
Another Twitter user, @OSD728 commented:
“If the prices of xlm do go that low I will definitely buy more not saying I want it to but still that’s a good entry point”
Peter Brandt is well-known for his prediction of the 2018 crash of cryptocurrencies and for his accurate predictions when it comes to technical analysis or charting.
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Source: AMB Crypto

XRP/USD Technical Analysis: Bear still seems to have strong hold on the coin

The cryptocurrency market may not be surging, but is not plunging much either. However, at the time of press, the second largest coin XRP is trying to maintain a foot on the green pastures.
The coin was valued at $0.3181 with a market cap of $13 billion. The coin reported a 24-hour trade volume of $422 million with a growth of 0.56% in the past day. The coin has plunged in the past seven days by 3.39% but is on the path to recovery as it notes a growth by 0.06% in the past hour.
1-hour
Source: Trading View
The one hour chart of XRP indicates an uptrend from $0.3344 to $0.3394, which further turns to a downtrend that starts from $0.3394 to $0.3256. The coin marks an uptrend from $0.3185 to $0.3227. The coin marked resistance at $0.3256 and marked strong support at $0.3185.
Bollinger Bands appears to be at a point of convergence, slowly decreasing the market volatility. The moving average line is over the candlesticks, marking a bearish market.
Awesome Oscillator indicates a bearish market losing momentum.
Chaikin Money Flow, on the other hand, marks a bullish trend as the marker is above zero.
1-day
Source: Trading view
Considering the one day chart of the coin, an uptrend is visible from $0.2684 to $0.4831 but is followed by a downtrend from $0.3826 to $0.2906. Whereas a second downtrend is observed from $0.5158 to $0.3754. The resistance is marked at $0.4141 and support is marked at $0.2906.
Parabolic SAR makers a bearish market, as the markers have aligned above the candles.
MACD line is under the signal line, pointing towards a bearish market.
Relative Strength Index indicates that the buying and the selling pressure are evening each other out.
Conclusion 
As per the indicators, Bollinger Bands and Chaikin Money Flow, a bullish market is predicted. However, going by the majority of indicators like Awesome Oscillators, Parabolic SAR, and MACD, a bearish trend may continue.
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Source: AMB Crypto

XRP community member gets a reply from US Congressman; says cryptocurrencies should be promoted

The field of cryptocurrencies has received multiple opinions from various sectors of society. While proponents of the space have been very active in promoting the industry, it has also been at the receiving end of a lot of backlash and criticisms. As a positive step for cryptocurrencies such as Bitcoin [BTC] and XRP, Rob Woodall, a United States Congressman recently commented on the benefits and need for digital assets.
In an e-mail reply to ATL XRP, a member of the XRP community, Woodall stated:
“I absolutely agree with you that the federal government should do its best to promote the United States as the world leader in innovation and to encourage, rather than stifle, the growth of new industries. Certainly, this school of thought should apply to cryptocurrencies.”
The Congressman’s reply was on a request to support the H.R.7356, the “Token Taxonomy Act”. He stated that the bill, although expired in December of last year, could be revisited during the new Congress session. He further added:
“I look forward to learning more about this legislation from Representatives Davidson and Soto should they choose to reintroduce the measure this year”.
The United States Congress has been quite active when it comes to cryptocurrencies, with even letters being written by members to the Securities and Exchanges Commission [SEC]. Last year, Jay Clayton, the Chairman of the SEC had pointed out the distinction between digital assets that can be considered as securities and ones that cannot.
The letter stated:
“Current uncertainty surrounding the treatment of offers and sales of digital tokens is hindering innovation in the United States and will ultimately drive business elsewhere. We believe that the SEC could do more to clarify its position.”
The letter was sent post a roundtable discussion on cryptocurrencies that was aimed to establish the legislative pointers around the field of cryptocurrencies and blockchain technology.
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Source: AMB Crypto

Bitcoin Cash [BCH] Technical Analysis: Token turns the tide, emerges as highest gainer amongst top-10 coins

Bitcoin Cash has come to the fore, emerging as the highest-gainer in the top-10 as the collective market shot-up above the $120 billion-mark. The fourth-largest cryptocurrency is now head and shoulders above the rest of the coins in the market, in terms of 24-hour price increase, with a massive 7 percent price increase in a bearish market.
On 22 January, the BCH price slipped to a one-month low of $118.8, following which it saw a 10.79 percent increase as the coin’s price shot up to $131.64. The market cap of the coin surged by over $225 million in less than a day and is now valued at $2.31 billion.
Exchange dominance has also seen a re-shuffle, with the top spot being taken over by L-Bank, with a BCH trading volume of $22.52 million or 7.57 percent in the BCH/BTC trading pair. The following two spots are taken by P2PB2B in the BCH/USD and BCH/BTC trading pairs respectively.
1-hour:
Source: Trading View
It comes as no surprise that the one-hour BCH trend line shows a stand-out green uptick as the BCH price rapidly rose. Two prominent uptrends can be noticed, the first, larger one, stretching from $120.77 to $129.3 and the second, shorter one, extending from $127 to $130.12. Prior to the uptrends, the BCH price fell during the past weekend, indicated by the downtrend from $128.54 to $121.78.
Bitcoin Cash has skyrocketed past its immediate support level pegged at $119.94 and it is very likely to break its resistance placed at $130.49. The previous support and resistance levels of the coin were placed at $125.72 and $130.18 respectively.
The Chaikin Money Flow indicator points to a bullish market as the CMF line is above 0, indicating an inflow of money into BCH.
The Parabolic SAR shows that the coin is trading with bullish momentum as the dotted lines are aligned below the coin’s trend line.
The Awesome Oscillator confirms the above indications, as the AO line is green, showing a bullish swing to the BCH market.
1-day:
Source: Trading View
Despite the positive signs in the above one-hour chart, the one-day chart indicates that post the hardfork, BCH prices are on a steep decline, indicated by the massive downtrend stretching from $626.31 in mid-November to $139.64 in January. A brief uptrend, immediately prior to the hardfork, is also noticed from $429.62 to $628.56.
Bitcoin Cash’s support level of $76.7 has long been surpassed, with the coin trading at almost double of the support figure. However, the recent increase in the BCH price is still not close to the immediate resistance level of $196.84.
The Bollinger Band points to a long-run decrease in volatility for the coin as the Moving Average line shows that the coin is trading in a marginally bearish market.
The Fisher Transform indicator shows a crossing over of the Fisher and Trigger lines, indicating a bullish Bitcoin Cash market.
The Relative Strength Index has been on the rise since the week began and is currently pegged at 43.64, up from a low of 37.34 from last week.
Conclusion:
Bitcoin Cash is currently leading the top-10 coins list in terms of short-term price increase, which is confirmed by the one-hour chart indicators, pointing to a bullish market. In the long-run, however, the coin is still fighting off the bears and is looking to break into a bullish zone, with the one-day chart indicators pointing to the same.
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Source: AMB Crypto

Bitcoin Cash [BCH] integrated on peer-to-peer trading platform BitQuick

BitQuick, the over-the-counter cryptocurrency marketplace has increased its coverage by adding the fourth largest cryptocurrency in the market, Bitcoin Cash [BCH] to its platform. This inclusion will allow peer-to-peer purchase and trading of BCH in less than three hours, BitQuick claims.
The marketplace is owned and operated by Athena Bitcoin, which operates Bitcoin and other cryptocurrency ATMs in the US, Columbia and Argentina. Athena Bitcoin also operates Mercado Athena, another BTC marketplace.
Additionally, BitQuick is also used by traders to convert digital currencies to fiat or vice versa in the following countries: US, Canada, Europe, Russia, and Australia.
BitQuick is pegged as a “relatively decentralized” platform as it offers Localbitcoins’ like multi-signature escrow system which allows it to operate relatively freely in the US’ regulatory atmosphere while adhering to the Know Your Customer [KYC] requirements and transactions limits.
At the moment, BitQuick operates in 49 states in the US, with New York being the only exception. Back in 2015, the peer-to-peer Bitcoin market place ended their New York operations as they could not comply with the state’s BitLicense that required every local Bitcoin seller to apply for a license.
The marketplace also accounts for privacy as they do not store their client’s private keys, relying on escrow settlement to generate them. Customers will be allowed to trade up to $250,000 using P2SH [Pay to Script Hash] multi-signature addresses.
In order to gauge the market demand and accordingly expand their cryptocurrency coverage, BitQuick will send out a survey to traders before adding on to their Bitcoin and Bitcoin Cash markets.
The BitQuick announcement comes right when Bitcoin Cash has been enjoying a bullish market, as it saw a price increase of more than 7 percent in the past 24 hours. The overall market has increased by over $2 billion as major coins are awash in green, with BCH leading the charge as the highest gainer in the top-10.
In recent news, Bitcoin Cash proponent and CEO of Bitcoin.com, Roger Ver sparked controversy by comparing Bitcoin [BTC], in its original form, going by its 2009 whitepaper, to Bitcoin Cash in its current form as the only true, “peer to peer electronic cash system for online payments.”
The Bitcoin community on Reddit accused Ver of “borderline scamming” new and uninformed investors who want to invest in Bitcoin and not in its hardfork Bitcoin Cash.
The online community has also credited Ver’s website Bitcoin.com as one of the main mouthpieces of the pro-Bitcoin Cash narrative. Last week, one outspoken critic John Carvalho, known in the community as Bitcoin Error Log, challenged Ver to a “fight” with the rights of Bitcoin.com hanging in the balance.
The post Bitcoin Cash [BCH] integrated on peer-to-peer trading platform BitQuick appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern

The price of Bitcoin is currently in a consolidation phase after formation of a recurring pattern twice within the span of a month. The current price of Bitcoin, at the time of writing, was $3,580, with the market cap hovering at $63 billion.
1-hour
Source: TradingView
Bitcoin’s price action, as seen in the chart above, is the best example of history repeating itself. The overall trend of Bitcoin is a downtrend as it has consistently been forming lower lows as seen in the hourly charts.
Pennant
There is a clear formation of a pennant in the price action chart, which breaks out to the top and then moves in a sideways fashion before dropping to retrace the same pattern all over again. However, it will be in a slightly lesser proportion compared to the one before.
Pennants usually show how the price gets caught up between forming lower lows as they head towards the peak of the pennant, where they have no more room, thus causing a breakout.
The first pattern started its formation on December 27, 2018, and it proceeded to ricochet between the trend lines consistently. The price broke out of the pennant pattern caused a massive spike of 6.56% as the prices rose from $3,838 to $4,090, The spike was followed by a sideways movement, which caused a sudden collapse in prices.
Fibonacci Retracement
The sudden collapse in the prices took place in two distinct steps, which occurred at the 0.618 Fibonacci level. The 0.618 level or the 61.8% level is deemed as the most important level by most traders. The price drop happened from $4,026 to $3,618, making a pit stop at $3,812, which, in total, was a drop of 10.13%. By observation, it can also be noted that the second collapse was almost half of the first one.
The second pattern that formed, followed the footsteps of the previous pattern and the price broke out of the pennant at $3,625 and reached $3,728, which was a total percentage increase of approximately 3%, which is half of the previous breakout. This followed by yet another sideways/downtrend movement, which collapsed again at the same Fibonacci level as the previous pattern. The collapse took place from $3,689 to $3,514 with a stop at $3,587 at the 0.618 or 61.8% Fibonacci level. The total decline was 4.74%, which is approximately half of the previous collapse.
Moreover, before the formation of the second pennant, the sideways movement of the prices found support at 0.886 or 88.6% Fibonacci level of the first pattern which was eventually broken as the prices fell lower.
At the moment, the prices are being supported at the 0.86 or 88.6% Fibonacci level of the second pattern, which is at $3,514, a perfect correlation. If the prices ever decide to break below this support, there is going to be a collapse.
1-day
Source: TradingView
The one-day chart also shows a consistent downtrend with prices forming lower lows, indicating a strong bear trend for Bitcoin. Bitcoin’s fall into the abyss is currently being supported by two supports, the first and the imminent support is at $3,477, which was tested multiple times. The second support is the lowest that Bitcoin reached in 2018, which is at $3,139.
Volume 
The volume indicator shows a very important indication of decreasing volume that has been in play since mid-November, which confirms that the price will undergo a massive and sudden change in the future.
The change, as per the technicals, indicates that the price should move downwards, however, the prices could go either way.
The Relative Strength Index also shows a declining trend, indicating that the selling momentum for Bitcoin is increasing.
Conclusion
The one-hour chart shows a recurring pattern in which the prices are being supported at the 0.86 Fibonacci level. If the price ever decides to drop to below the current support it would face the next immediate support at $3,136. In a worst-case scenario, the price would go into a free fall until $1,900 and the price was last seen at this point on July 14, 2017.
If the breakout happens to the upside then the price would have no resistance until $4,422 to $5,000, where the prices will be tested before it moves up. However, the one-day chart shows a declining volume trend, which indicates a strong movement in price that might happen in a few days.
The post Bitcoin [BTC] could soon see an imminent breakout due to recurring bear pennant pattern appeared first on AMBCrypto.
Source: AMB Crypto