Crypto Market Rallies $15 Billion: Bitcoin Cash, Litecoin, EOS, XLM Analysis

The total crypto market cap gained momentum and broke the key $252.0B resistance area.
Bitcoin price surged above the $8,500 and $8,650 resistance levels.
Litecoin (LTC) price remains in a strong uptrend and is trading nicely above $134.
Bitcoin cash price is grinding higher towards the $420 and $425 resistance levels.
EOS price is back above the $6.50 level and it may even break the key $6.75 resistance area.
Stellar (XLM) price is about to gain momentum above the $0.1250 level.

The crypto market cap gained sharply, with positive moves in bitcoin (BTC) and Ethereum (ETH). Altcoins such as LTC, ripple, bitcoin cash, EOS, TRX, and stellar are also moving higher.
Bitcoin Cash Price Analysis
Bitcoin cash price finally broke the $400 resistance against the US Dollar to move into a positive zone. The BCH/USD pair even cleared the $405 resistance and it is currently trading above the $410 level. An immediate resistance on the upside is near $420, above which there are chances of more gains above $425.
On the downside, the $410 level might act as a decent support, below which there is a risk of a drop back towards the $400 or $395 support.
Litecoin (LTC), EOS and Stellar (XLM) Price Analysis
Litecoin price settled above the $130 level and it is currently moving higher. LTC price is currently up more than 3% and it is likely to climb above the $135 and $138 levels. The main resistance for the bulls is near the $140 level. On the downside, the recent resistance at $130 could provide support.
EOS price managed to gain traction above the $6.45 and $6.50 resistance levels. The price is now trading nicely above the $6.60 level and it might continue to rise in the near term. The next key resistances are near $6.70 and $6.75.
Stellar price is trading well above the $0.1200 support level and it is slowly moving higher. XLM price is about to break the $0.1250 resistance and it could continue to rise towards the $0.1280 and $0.1300 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a decent upward move from the $246.0B swing low. The market cap broke the main $250.0B and $252.0B resistance levels. It added more than $10B and grinded above the $260.0B level. A swing high was formed near $263.1B and it is currently correcting lower. An immediate support is near the $257.0B level, followed by a connecting bullish trend line with support near the $255.0B level. As long as the market cap is above the $250.0B pivot level, there could be more upsides in bitcoin, Ethereum, EOS, litecoin, ripple, XLM, BCH, ADA, BNB, TRX, ICX, and other altcoins in the coming sessions.
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Bitcoin Price Jumps Above $8,700 following Binance US Closure

Bitcoin is becoming a hedging instrument even against the rest of the cryptocurrency market.
The largest cryptocurrency profited as much as 6 percent on Friday to close above $8,700. At the same time, other leading cryptocurrencies, such as Ethereum, Litecoin, and EOS, trended in negative territory. The massive contrast between the bitcoin and the rest of the cryptocurrency market indicated a capital flight. Traders suggestively exchanged a bulk of altcoins for bitcoin as a safety measure against the latest Binance announcement.
The Malta-based cryptocurrency exchange, which accounted for the highest global cryptocurrency volume, announced on Friday that it is barring US customers from accessing its services. The announcement indicated that Binance would lose about 15 percent of its net monthly traffic, amounting to over 40 million customers. The firm’s sudden shutting down reportedly prompted the US customers to withdraw a large number of altcoins, which included Binance’s very own native token BNB coin.
Binance Coin (BNB) Dropped Close to 18% on Friday | Image Credits: TradingView.com
The BNB price dropped by as much as 17 percent against the BTC on Friday.
Bitcoin against Altcoin Liquidity Crisis
Alex Krüger, a prominent market analyst, said today that Binance’s issues with its US customers are bullish for bitcoin. He cited Tether, the company behind the controversial stablecoin USDT, to explain the correlation of bitcoin with the rest of the altcoin market. In April 2019, the New York Attorney General’s office on April 25 announced that it had obtained a court order against Tether and its associate firm BitFinex for allegedly hiding $850 million loss from USDT investors.
“Upcoming Binance’s issues with US residents = Bullish for BTC,” wrote Krüger. “This was even clearer than with April’s Tether “FUD.” Speculators are supposed to act on meaningful news, not just theorize about it.”

Upcomimg Binance's issues with US residents = Bullish for $BTC. This was even clearer than with April's Tether "FUD". Speculators are supposed to act on meaningful news, not just theorize about it. https://t.co/7bAfEOiXTW
— Alex Krüger (@krugermacro) June 14, 2019

Also, in October 2018, USDT dropped its dollar-peg to fall to its 18-month low of $0.92. The slide in the stablecoin pushed bitcoin $600 higher on BitFinex.
What’s Now for Bitcoin
The bitcoin market’s intraday arrangements point to a small downside correction, according to its overbought Relative Strength Indicator on Coinbase daily chart. Nevertheless, market analyst Josh Rager suggest that the cryptocurrency has fuel to retest $8,750, given it manages to float above $8,000.
“Break and close above $8,948 is bullish,” he added.

$BTC…
Nice break up out of that rising wedge, big players painted it perfect on the chart to trap many into shorting followed by liquidations
Would like to see a pullback to $8500s before another retest to break above $8750
Break & close above $8948 is bullish pic.twitter.com/bAlkGNFxz2
— Josh Rager (@Josh_Rager) June 15, 2019

Pseudonymous analyst BitBit believes bitcoin is due for a much larger upside move than what is suggested by Rager. He measured the cryptocurrency based on monthly performance, stating that it could continue its bull run to touch the five-figure status.
“I’m saying above 10k by the end of the month, might even touch 11k,” said BitBit.
The bitcoin price was trading at $8,645 at the time of this writing.
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Bitcoin (BTC) Price Hits First Target: Can Bulls Hit $8.8K or $9K?

Bitcoin price is n a positive zone and recently climbed above the $8,500 level against the US Dollar.
The price is gaining momentum and it seems like it could even trade towards the $8,800 level.
There is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might dip a few points, but it remains well bid above the $8,460 pivot level.

Bitcoin price extended gains above the $8,500 resistance against the US Dollar. BTC is showing a lot of bullish signs and it could make an attempt to surpass $8,800 in the near term.
Bitcoin Price Analysis
Yesterday, we discussed the possibility of bitcoin price hitting the $8,500 mark against the US Dollar. The BTC/USD pair did gain momentum above the $8,300 resistance and settled above the 100 hourly simple moving average. It opened the doors for more gains and the price rallied above the $8,400 and $8,500 resistance levels. Additionally, the upward move was strong as the price even broke the $8,600 level.
There was a spike above the $8,700 level and the price traded to a new monthly high at $8,741. It is currently correcting lower below $8,700. Moreover, it is testing the 23.6% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. On the downside, there are many supports near the $8,600 and $8,700 levels.
Furthermore, there is a major bullish trend line forming with support near $8,500 on the hourly chart of the BTC/USD pair. The main support is near the $8,460 level. It coincides with the 50% Fib retracement level of the recent rally from the $8,184 low to $8,741 high. Therefore, if there is a downside break below $8,460, the price could retest the $8,300 support area.
On the upside, an initial resistance is near the $8,740 and $8,750 levels. If there is an upside break above $8,750, the price is likely to surge above the $8,800 resistance area. The next key resistance is near the $9,000 level.

Looking at the chart, bitcoin price is clearly gaining bullish momentum above the $8,500 level. Therefore, there are chances of more upsides above the $8,750 and $8,800 levels. In the short term, there could be a downside correction, but the $8,460 level might provide support. The main uptrend support is now near the $8,300 level in the near term.
Technical indicators:
Hourly MACD – The MACD is currently reducing its bullish slope, with a few negative signs.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting from the overbought zone.
Major Support Levels – $8,500 followed by $8,460.
Major Resistance Levels – $8,750, $8,800 and $9,000.
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The Path To Evolution Is Behind Dash’s Resurgence, Add 5.4%

Dash bulls in control, prices up 5.4 percent
ChainLocks is an assurance of Dash security

Before Evolution, the latest Dash upgrade introduces ChainLocks. It is a shield against the disastrous effects of a Majority Attack. Since the benefits of Evolution are massive and instills confidence, Dash prices responded. At the time of writing, it is up 5.4 percent from last week’s close.
Dash Price Analysis
Fundamentals
Capitalizing on a horrendous leadership, Dash is quite literally replacing the worthless Venezuelan Bolivar. Decimated by hyperinflation, cryptocurrency is, by and large, the perfect choice for Venezuelans.
Perhaps to bulwark its network against attacks, which can be government-sponsored in some scenarios, Dash upgraded. Introducing ChainLocks, the system can successfully rebuff attempts of a Majority Attack. Besides, Dash holders can instantly “re-spend Dash upon receipt via Long-Living Masternode Quorums (LLMQ)-Based InstantSend.”
Always building towards Evolution, this software improvement sets Dash apart from competing networks with similar purposes. Bitcoin Cash, for example, pitch their services under the same theme. However, it lacks in numbers, and the overly, the median transaction value says it all.
On the contrary, Dash is already striking partnerships and creators are steadfast on its road map. Ideally, the activation of Evolution will be momentous for the network. By radically introducing features that first and foremost place clients at the fore, Dash settlement speed will sharply improve while simultaneously boosting security. That will be on top of blockchain user names and contact lists replacing cryptographic hashes that are complex, slowing down adoption.
Candlestick Arrangements

Currently, Dash is languishing at 16th with a market cap of $1,365 million, adding a mere 5.4 percent week-to-date. Nevertheless, like most crypto assets, there is an overall recovery in price. Trading in a bullish breakout pattern, Dash bulls in the driving seat. Thanks to the dips of late May and early June, the retest phase is complete.
Marking the rebound is a three-bar bull reversal pattern of June 3rd through to June 10th. With increasing trading volumes, bears were slowed down. Because of this, there is an opportunity for traders to buy the dips while aiming at $180.
Fitting safety net will be at $140. On the other hand, conservative traders can wait for clearance of May high at $180. Once that prints out, traders can flow back with a modest target of $215.
Technical Indicators
In light of the above, any break above $180 ought to be with high participation. As a result, the May 25th inverted hammer anchors this trade plan. Behind the rejection of higher prices are high trading volumes of 6k.
Therefore, confirmation of buyers should be with equally high trading volumes lifting prices above $180 to $215 in a buy trend continuation.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin (BTC) Price Gaining Momentum: Break Above $8,500 Likely

Bitcoin price extended gains recently and broke the $8,100 and $8,200 resistances against the US Dollar.
The price seems to be setting up for more gains above the $8,300 resistance area.
There is a crucial bullish trend line forming with support near $8,140 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is placed nicely above the $8,100 pivot level and it seems like there could be more upsides.

Bitcoin price traded to a new weekly high above $8,300 against the US Dollar. BTC is showing a lot of positive signs and it could even rally towards the $8,500 resistance area.
Bitcoin Price Analysis
In the past few sessions, there was a steady rise in bitcoin price above the $8,000 barrier against the US Dollar. The BTC/USD pair gained bullish momentum above $8,150 and even broke the $8,200 level. Recently, the price broke the last swing high and traded above the $8,300 level. A new weekly high was formed at $8,344 before the price started a downside correction.
Still, the price is trading well above the $8,000 level and the 100 hourly simple moving average. It corrected below the $8,250 level and the 23.6% Fib retracement level of the recent leg from the $8,006 low to $8,344 high. However, the recent decline is finding bids near the $8,175 level. It represents the 50% Fib retracement level of the recent leg from the $8,006 low to $8,344 high.
On the downside, there are many supports near the $8,175 and $8,150 levels. Moreover, there is a crucial bullish trend line forming with support near $8,140 on the hourly chart of the BTC/USD pair. The trend line support coincides with the 61.8% Fib retracement level of the recent leg from the $8,006 low to $8,344 high.
Therefore, as long as the price is above the $8,140 level, it is likely to continue higher. On the upside, an initial resistance is near the $8,300 level, followed by the $8,344 high. If there is an upside break above $8,344, the price is likely to climb higher towards the $8,500 resistance area.

Looking at the chart, bitcoin price is clearly trading in a positive zone above the $8,150 and $8,100 support levels. The main support is near $8,000, below which the price may perhaps move into a bearish zone. The current price action is positive, suggesting an upside break above the $8,300 and $8,350 levels in the near term.
Technical indicators:
Hourly MACD – The MACD is about to move back in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently moving higher towards 60 and 65.
Major Support Levels – $8,150 followed by $8,100.
Major Resistance Levels – $8,300, $8,350 and $8,500.
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Bitfinex’s LEO Spikes 32%, Passes IOTA on Crypto Leaderboard

LEO surges, up 32 percent
FOMO likely accelerating LEO demand

The tokenization of BitFinex through the sale of LEO tokens was an opportunity for investors to draw maximum benefits from a liquid exchange. At the time of writing, LEO is up 32 percent week-to-date.
LEO Price Analysis
Fundamentals
Desperate times call for desperate measures. That’s the adage that BitFinex’s owners, iFinex Limited, heeded, quite literally. Faced with insurmountable pressure upon the damaging revelation that the exchange used part of Tether Limited’s fund to fix a deluge, the management settled for an Initial Exchange Offering (IEO).
The objective was quite clear and brazen: crowdfund $1 billion in USDT from private investors. That meant tokenizing the exchange through the Unus Sed LEO tokens. Hardly surprising, Justin Sun was said to be among one of those who had made applications for consideration.
However, reports had it that he pulled out, it was apparent that opportunity seeking billionaires couldn’t leave this lying. Of the many investors who kept decided to keep it low key, the outspoken “china’s BTC billionaire” Zhao Dong, notified the community of BitFinex’s plans:
“Leo tokens are intended to be the utility token at the heart of the iFinex ecosystem. Token holder will experience immediate benefits across iFinex trading platforms, products, and services including LEO holders’ taker fees will be reduced by 15 percent overall crypto-to-crypto pairs (including crypto to Stablecoin. Taker fees…reduced by an additional 10 percent overall crypto pairs. For traders with an average >$5,000 USDT in LEO tokens in their account during the previous month…etc.”
Candlestick Arrangement

Considering the benefits, it was highly anticipated that the coin sold out in minutes, gifting BitFinex the much-needed liquidity. However, for investors, LEO prices sunk. Upon listing on May 20th, LEO prices dropped from $2.49 to $1.025 before closing at $1.07.
Even though it was seven percent in the green, investors were shaken. Presently, LEO on a recovery path, adding 96 percent and changing hands at $1.96 against the greenback. As a result of this, LEO’s market cap is $ $1,959 million surging 32 from week-to-date.
Technically, hype alone will shore LEO as investors don’t want to miss another BNB moment. Therefore, even though prices could react at $2.15 or the 78.6 percent Fibonacci retracement, bulls will likely prevail in the long term. Thus, for the savvy trader, every dip is another buying opportunity. Stop limits at $1.55 could be the safety net just against there is an unexpected liquidation.
Technical Indicators
Noteworthy, trading volumes are increasing. That is buoying bulls, which is positive. Breaks above May 20th high at $2.15 should ideally be with high trading volumes exceeding 3.95 million of June 10th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
 
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Bitcoin (BTC) Price Smashes Resistance: Primed For More Gains

Bitcoin price broke to the upside and cleared the $7,950 and $8,000 barriers against the US Dollar.
The price even broke the $8,200 resistance area and it is currently correcting lower.
There is another major breakout pattern forming with resistance near $8,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is currently trading with a positive bias above the $8,100 and $8,000 support levels.

Bitcoin price started a strong rise after it broke the $8,000 barrier against the US Dollar. BTC is back in a positive zone and it might continue to rise towards the $8,400 level.
Bitcoin Price Analysis
Recently, bitcoin price formed a support base above the $7,700 level against the US Dollar. The BTC/USD pair started a steady rise and broke the $7,800 and $7,850 resistance levels. As a result, the bulls gained strength above the $7,900 level and the 100 hourly simple moving average. It opened the doors for more gains above the main $7,950 and $8,000 resistance levels.
The price even surpassed yesterday’s breakout pattern with resistance near $7,950 on the hourly chart. The bulls managed to push the price to a new weekly high above the $8,100 level. Finally, there was a break above the $8,200 level and a new swing high was formed near $8,284.
Recently, bitcoin price started a downside correction below $8,200. It broke the 23.6% Fib retracement level of the recent wave from the $7,902 swing low to $8,284 high. On the downside, there are many supports near the $8,100 and $8,080 levels. Moreover, there is another major breakout pattern forming with resistance near $8,200 on the hourly chart of the BTC/USD pair.
The 50% Fib retracement level of the recent wave from the $7,902 swing low to $8,284 high is also near the $8,090 level to act as a support.  It seems like there could be a downside spike towards the $8,080 or $8,050 support levels before the price starts a fresh increase. On the upside, a break above the $8,200 level could open the doors for more gains in the near term.

Looking at the chart, bitcoin price is showing positive signs above the $8,000 and $8,100 support levels. In the short term, there could be a few swing moves, but the price is likely to hold the $8,000 support. As long as BTC is above $8,000, it could continue to grind higher.
Technical indicators:
Hourly MACD – The MACD is slowly moving in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level and is correcting lower.
Major Support Levels – $8,100 followed by $8,000.
Major Resistance Levels – $8,200, $8,300 and $8,380.
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Crypto Market Starts Fresh Increase: Bitcoin Cash, BNB, EOS, TRX Price Analysis

The total crypto market cap found support near $236.0B and jumped sharply above $245.0B.
Bitcoin price broke the key $8,000 resistance level to move into a positive zone.
EOS price broke the $6.40 and $6.50 resistance levels to start a decent recovery.
Binance Coin (BNB) is up more than 5% and it recently broke the $35.00 resistance.
Bitcoin cash price is above to break the $400 barrier to move into a bullish area.
Tron (TRX) price gained nearly 6% and it recently broke the key $0.0320 resistance.

The crypto market cap gained more than $10B, with positive moves in bitcoin (BTC) and Ethereum (ETH). Binance coin (BNB), BCH, tron (TRX), ripple, litecoin and EOS are currently gaining momentum.
Bitcoin Cash Price Analysis
After a major downside correction, bitcoin cash price found support above $360 against the US Dollar. The BCH/USD pair started a steady recovery and recently broke the $380 and $390 resistance levels. The pair is currently trading near $400, above which the bulls are likely to take control in the near term.
The next key resistances are near $410 and $420. If there is a downside move, the price might find bids near the $390 or $385.
Binance Coin (BNB), EOS, Tron (TRX) Price Analysis
EOS price remained stable above the $6.20 level and it recently recovered higher. The price broke the $6.25 and $6.32 resistance levels. Moreover, there was a break above the $6.45 and $6.50 resistance levels. The next stop for the bulls could be $6.60 or $6.65.
Tron price is gaining bullish momentum and it is currently trading up more than 5%. TRX price broke the $0.0300 and $0.0320 resistance levels. It is currently trading above the $0.0330 level and the next stop could be $0.0340. The main resistance for the bulls is near the $0.0350 level in the coming sessions.
Binance coin (BNB) is up more than 5% and it recently cleared the $34.00 and $35.00 resistance levels. BNB price is now consolidating above the $35.00 level, with an immediate resistance near the $35.40 and $35.50 levels. The main hurdle is near the $36.20 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a major upside break above the $236.0B and $240.0B resistance levels. The market cap broke the $246.0B resistance and tested the next important resistance near the $252.0B level. At the moment, the market cap is confined in a range and it might surpass the $252.0B resistance area. The next major resistance could be $258.0B or $260.0B. If there is a downside correction, the $244.0B or $242.0B level might act as a support. Overall, there are chances of more gains in bitcoin, Ethereum, TRX, LTC, EOS, ripple, ADA, XLM, WTC, BCH, and ICX.
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Ethereum (ETH) Price Rallies Above $260: Turned Buy On Dips

ETH price started a strong upward move after it broke the key $250 resistance against the US Dollar.
The price even broke the $255 and $260 resistance levels to move into a positive zone.
There is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is correcting lower, but dips remain supported near the $255 and $252 levels.

Ethereum price rallied recently with a positive momentum versus the US Dollar, similar to bitcoin. ETH price is now trading with a bullish bias and dips remain supported on the downside near $255.
Ethereum Price Analysis
After forming a support base near the $240 level, Ethereum price broke the $245 resistance against the US Dollar. The ETH/USD pair gained bullish momentum after it broke the $250 resistance and the 100 hourly simple moving average. The bulls took control and pushed the price above the $255 and $260 resistance levels.
As a result, the price traded to a new weekly high above the $260 level at $264. The price traded close to the $265 level and it is currently correcting lower. At the moment, the price is correcting lower below $260 and the 23.6% Fib retracement level of the recent wave from the $246 low to $264 high. On the downside, there are many support near the $255 and $252 levels.
An initial support is at $255 and the 50% Fib retracement level of the recent wave from the $246 low to $264 high. Moreover, there is a major bullish trend line forming with support near $252 on the hourly chart of ETH/USD. The trend line coincides with the 61.8% Fib retracement level of the recent wave from the $246 low to $264 high.
Therefore, if the price corrects lower, it is likely to find a strong buying interest near the $255 and $252 levels. A break below the trend line might push the price back towards the $250 pivot level. On the upside, an initial resistance is near the $262 and $264 levels. A clear break above the $265 level might call for a test of $275.

Looking at the chart, Ethereum price is clearly trading with a positive bias above the $255 and $250 support levels. As long as there is no close below $250, the price is likely to grind higher in the coming sessions.
ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is currently moving in the bullish zone, with a few negative signs.
Hourly RSI – The RSI for ETH/USD is currently well above the 60 level and is correcting lower.
Major Support Level – $255
Major Resistance Level – $265
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Bitcoin (BTC) Halving In A Year, Is LTC Setting the Pace?

Bitcoin (BTC) adds 6.1 percent
Ahead of next year’s halving, BTC is likely to inch higher

Tone Vays, a Bitcoin supporter and a former Financial Analyst at JP Morgan, is edgy of the current uptrend. BTC is ranging, and prices aren’t steady above $8,000. That’s what’s visible in the daily chart. Therefore, unless otherwise there is a break above $8,500 and later $9,100, BTC may topple below $7,500.
Bitcoin Price Analysis
Fundamentals
Thus far, it has been a perfect start for cryptocurrency investors. Recording double-digit gains over the last two quarters, Bitcoin is a standout. Even so, that is not deterring bears from hitting back and capping progress.
In the last three or so weeks, it is evident that prices are ranging inside a $1,000 zone. That’s a classic accumulation as this is printing in a clear bullish trend. However, since halving is next year, coinciding with a significant political event in the US, BTC investors are optimistic.
Already, the expectation of a favorable price repricing is prodding demand in Litecoin. Rallying above $130 at the time of writing, Litecoin, a protégé of Bitcoin designed purposefully to complement the network, is up five-fold after hitting rock bottom in mid-Dec 2018.
Behind this euphoric rally is August’s halving. If Litecoin, therefore, becomes a blueprint, odds are-and this happened before, BTC could surge to near highs.
Arthur Hayes, the CEO, and founder of BitMex said he his confident prices would surge to $50,000 by the close of the year. Ahead of BTC halving, the same may happen as many analysts concur on this possibility.
Candlestick Arrangement

While there is no reason to trust bulls as Tone Vays warns, BTC bulls have the upper hand. If anything, $8,000 is a psychological price tag and a vital level for traders. As a reminder, it is crucial for bulls to not only build the momentum required for thrusting prices above $8,500 and $9,000. Notwithstanding, priming this upsurge must be high participation.
That will be a litmus test gauging the strength of buyers, a prerequisite for a trend continuation. As it is, there is an opportunity for aggressive traders to buy the dips as long as BTC is above $7,500.
However, that will largely depend on the confirmation of the three-bar bull reversal pattern of June 4th through 10th. Ideally, the perfect entry is above $9,100. Such a break above May high would trigger the much-needed wave that could push BTC to above $10,000 and $12,000.
Technical Indicators
Trading volumes are shrinking despite the expectations of better prices. For trend continuation, trading volumes that would thrust prices above May high must usurp those of May 30th of 31k or even 47k of May 14th. Similarly, any liquidation below $7,500 must be with equally high trading volumes nullifying this trade plan.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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A $3.7 Billion Behemoth Considering Ethereum, ETH Prices Responding

Ethereum (ETH) up 5.9 percent
Ubisoft considering building and creating a decentralized market place on Ethereum

In a direct boost for Ethereum, Ubisoft is considering building on the platform. That follows Bitwage decision to support ETH. Reflecting on this development, ETH is up 5.9 percent in 24 hours.
Ethereum Price Analysis
Fundamentals
Building is a mark of progress, and Ethereum is pretty good at that. Evolving after launching five years ago, the team is resolute in their roadmap. After Homestead, Ethereum is on track, and within the next three years or so, Vitalik’s creation would be running full throttle.
Once Serenity is activated, the network would be scalable, secure with staking features. Backed by widespread adoption and developers fortifying the platform, patching any vulnerability, Bitwage is confident of Ether (ETH), the native currency of Ethereum, and will offer support.
Serving more than 30,000 employees, Bitwage is a PR and HR startup that helps companies pay their workers using cryptocurrencies. Through Bitwage, individuals can receive their portion of salaries in cryptocurrencies via a “faster, cheaper international invoices with direct bank and wallet deposits.”
According to CEO Jonathan Chester, Bitwage aims to close a “financial loop.” Currently, they process more than $2.5 million in monthly volumes by providing two unique services in direct deposit and team wages as part of their payroll services.
Meanwhile, reports have it that Ubisoft, a gaming development company, is developing game features-and possibly a decentralized marketplace, in Ethereum. As per Le Chos:
“The idea is to give a digital existence on the blockchain to the “items” (accessories) available in video games; content that publishers monetize. Ubisoft is considering working on the blockchain Ethereum, which allows operating this kind of operation.”
Candlestick Arrangement

Up 5.9 percent in 24 hours with a market cap of $26,897 million, ETH bulls are steadfast. Although there is a tinge of weakness as prices consolidate above $230, the odds of more upsides are high.
To that end, there is a window for risk-off, aggressive traders to buy the dips in smaller time frames. The trade plan will apply as long as prices are trading above $230, confirming buyers of May.
Despite shrinking participation days after the correction of late May spilling over to the first week of June, rejection of lower prices on June 10th is massive. Trading volumes may be low.
However, this could build the base for rallies above $290 and $300. Once that prints, ETH could rally to $400, breaking free from this momentum sapping consolidation.
Technical Indicator
Anchoring this plan is May 30th candlestick. Extensive with high trading volumes, it marks the May 2019 peak of $290. Therefore, unless otherwise there is a rally above $290 (or a drop below $230) with an uptick in participation, eclipsing 410k, bears could take over.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Ethereum (ETH) Snaps Back From $230, Benfica FC Setting Precedence

ETH bulls persistent, rejecting lower prices
Benfica FC and UTRUST partnering will benefit fans

By partnering with UTRUST, a crypto payment processor, Benfica FC fans will now pay for tickets and other merchandise using Ether or BTC. Meanwhile, the reaction from $230 could be the foundation that will propel ETH to $400.
Ethereum Price Analysis
Fundamentals
The success of any blockchain project depends on reception. That Ethereum is one of the biggest benefactors because of their soft landing is true. Promising to create a platform that improves on Bitcoin, Vitalik, and the team did create an IT miracle.
Already, early investors are drawing benefits even as prices bottom up after tanking in 2018.  Since ETH is the fuel within the Ecosystem, the coin has value thanks to supply-demand dynamics.
So valuable is the currency that Benfica FC, a Portuguese Football club and one of the top clubs in Europe, now accepts Bitcoin and Ether (ETH) as money. By doing so, the football giant is the first, opening path for other sporting clubs to accept ETH and other cryptocurrencies for their online sales or even player salaries.
To make this all this possible, Benfica FC has a partnership with UTRUST. UTRUST is a crypto processor, an alternative to BitPay. In a statement, the processors said:
“Benfica will be able to tap into the crypto market by allowing supporters to purchase a membership, tickets, and memorabilia from their official store. It will also expose millions of customers to the power of using cryptocurrencies.”
Candlestick Arrangement

At the time of press, Ethereum (ETH) is back to green.  Reacting from $230, with increasing trading volumes, today’s candlestick is likely to close as bullish. As a result, there will be a double bar bullish reversal pattern from $230.
The same level flashes with the 50 percent Fibonacci retracement level of May trade range. If anything, this is exceptionally bullish for ETH. In days ahead, it depends on how bulls react following today’s snap back.
However, regardless of what prints, every dip is another buying opportunity for traders aiming to clip the market while targeting $290.
Meanwhile, any depreciation below $230 could spur a selloff as bears aiming at the $170-$190 support zone.
Technical Indicator
Leading this trade plan and cementing previous ETH/USD projections is May 30th bear bar. It is broad with high trading volumes of 410k. Therefore, any upsurge clearing $290 or negating this plan as ETH slide below $230 ought to be with an uptick of participation exceeding 410k.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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XRP Bulls Firm But Down 9.9%, Ripple Can Be A Micropayment Platform

XRP is down 9.9 percent
Recent findings could embolden the XRP Army repeated calls for coin adoption

CoinGate is confirming that XRP is suitable for micropayments. Their latest research reveals that more people are procuring services and settling using XRP. However, that did not spur demand as XRP is struggling against unyielding sellers.
Ripple Price Analysis
Fundamentals
Seven years later and Ripple is more than a platform. From what’s publicly available, XRP is increasingly serving as a medium of exchange. According to CoinGate, month over month, more people are paying for merchandise using XRP:
“We’ve been processing XRP payments for merchants since February. As you can see in the infographics below, the number of people buying stuff with XRP is increasing every month!”
Their finding is a resounding win for the XRP Army eager to see corporations accept the coin for micropayment. Already their drive for mainstream adoption thanks to XRP advantages over BTC and ETH in Skype. That’s because it is easy to make payments on-chain. A Skype employee fronted the proposal for Ripple’s incorporation in Skype’s messaging system. In one of the many votes and responses via Skype’s UseVoice, a supporter said:
“The age of Micropayments has come, and we need your support. The era of the Internet of Value is knocking at the door. My idea is to implement micropayments on Skype. Allow us to buy Skype Credits with XRPTipBot, allow us to send micropayments on Skype chat as well.”
Candlestick Arrangement

Like most crypto assets, Ripple (XRP) prices are improving and stabilizing. Even though bears are in charge, dropping 9.9 percent week-to-date, buyers are technically in charge. However, that largely depends on whether bulls can shore prices above 34 cents. The level did successful cap bulls in Q1 2019, and the resulting breakout in mid-May was enough to open the buy sluice gates.
Nonetheless, XRP is in a consolidation. From the daily chart, the zone between 34 cents and 40 cents is a strong support. Besides, it is the 50-61.8 percent Fibonacci retracement levels of May trade range. Therefore, if bulls build up on today’s reaction, XRP could as well surge above 50 cents as traders load up with targets at 60 cents and later 80 cents.
Technical Indicator
Confirming the uptrend of mid-May will be a wide-ranging bull bar closing above 50 cents. Propelling buyers and setting in motion the next wave of higher highs to 80 cents is that the breakout candlestick must be with high trading volumes exceeding 184 million of May 14.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Despite Warnings of Analyst For Fall to $6,100, Bitcoin Surges Above $8k

The bitcoin price has dropped by as much as 18 percent from its 2019 high of $9,090. And it could lose more value in the coming 20 days, according to an analysis provided by a cryptocurrency analyst.
Mr. Teddy Cleps of Crypto Freak Network said on Monday that the bitcoin price historically contacted its 21-weekly exponential moving average (EMA) in every 70-to-90 days.
On the 70th day since the last contact, bitcoin was trending almost a thousand dollar above the EMA in concern, which means the cryptocurrency has approximately 20 more days to plunge and retest it. Meanwhile, the EMA (represented via a green curve) has adjusted somewhere near $6,100, as shown in the chart below.
Bitcoin Price Eyes an Extended Downside Run Towards its 21-Weekly EMA | Image Credits: Teddy Cleps
“Any trend regardless of the bias has to retrace and confirm the direction by bouncing off a key moving average ( 21ema here) – very healthy for the trend,” said Cleps. “It has been 70 days since the last contact – historically it ranges between 70 and 90.”
The statement came hours ahead of the latest bitcoin price push above $8,000. At 1200 UTC today, the BTC/USD rate settled a session high towards $8,090, only to correct to the downside later. At the press time, bitcoin was trading at $7944, awaiting a push to sight bull targets above $8,300.
Parallel Theories
In May, bitcoin jumped by about 60 percent, marking its best monthly performance since December 2017. Ahead of the month’s close, the cryptocurrency surged to $9,090 but fell more than 11-percent in a matter of minutes. The super volatile move quickly transformed into an intense selling action, that brought the bitcoin price as low as $7,427 on Coinbase on June 4.
Tuur Demeester, the founding partner of Adamant Capital, noted that the cryptocurrency had not found concrete support to start a new rally. The analyst wrote in his latest blog that bitcoin is initially looking to retrace by as much as 44 percent from its session top of $9,000. He backed his prediction by a Relative Unrealized Profits & Losses indicator, which compared bitcoin investors’ total profit and losses with the asset’s price action, as shown in the chart below.
Comparing Bitcoin Price with Investor Sentiment | Image Credits: Tuur Demeester
“Should $9,000 prove the top (which is not a given) and if then we’d see a 2012-style correction repeated, we would expect after an initial crash to see bitcoin trade in a range between $6,800 and $7,680 (27–44% retrace of the rally),” wrote Demeester.
Would Bitcoin Upside Continue?
While the technicals have their ways to explain a bitcoin plunge, the fundamentally-driven bitcoin bulls believe that the cryptocurrency would touch a six-figure valuation this year.
Brian Kelly, the chief executive of digital currency investment firm BKCM LLC, told CNBC that bitcoin is at the beginning of a broader price rally. He said that miners are preferring to hoard more bitcoins instead of passing it down to the market for circulation.
The reason why the global mining community has become so bullish is an event that would reduce the supply of bitcoins by half next year. According to Kelly, a reduction in stock against a rising demand is simple economics to prove that the asset rate would grow higher.

After a more than 50% rally in the last month, Bitcoin is stuck at $8,000. Here's what @BKBrianKelly says could drive it higher. pic.twitter.com/Smxy7v2Pgw
— CNBC's Fast Money (@CNBCFastMoney) May 21, 2019

“Every time the supply of bitcoin cut in half, you have a rally that goes into it, and a rally that goes out of it. We’re just at the beginning of that stage,” said Kelly.
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Contrarian Bitcoin Upsets Bearish Investors, But Massive Head and Shoulders Still in Play

In the early hours of the morning, Bitcoin exploded upward to $8,000 from a double-bottom local low set over the weekend around $7,500. The rally upset overly bearish crypto investors and traders who had been expecting further downside in the price of the first ever cryptocurrency.
The brief, yet powerful green candle may have shocked bears, an ominous and massive head and shoulders has been forming on the price charts of Bitcoin and other leading crypto assets, suggesting that the bears may soon have their party, and the crypto market may see a sharp drop lower if the formation is completed and confirms.
Bears in Disbelief: Bitcoin Rallies From Local Low in Surprise Move
Oftentimes, the best move for investors is to take a contrarian stance from the rest of the market. Much like calls for million-dollar BTC were signals the last bull market top was in, calls for sub-$1,000 Bitcoin was equally exuberant.
Related Reading | Peter Brandt Bearish After Bitcoin Breaks Bullish Trend, Expects Further Reversal 
But it’s when the majority of the market is expecting it to trend in a specific direction, more often than not the market moves in the opposite direction.

when bears get cocky and my feed is 80% filled with 6k calls things like this happen.$btc pic.twitter.com/l8UiVc4MID
— BenjaminBlunts (@SmartContracter) June 10, 2019

After over 100% growth in just two months and a broken parabolic rally, the entire crypto market is anticipating a significant drop in Bitcoin – with many calling for targets of $6,000 and lower.

Nice 6% pump by $BTC
Sentiment was a little too bearish after that weekly close
Even I expected further downside
Range remains the same and would like to see a daily close above $8200 pic.twitter.com/z4HONOT4HJ
— Josh Rager (@Josh_Rager) June 10, 2019

The overly bearish expectations come after last night’s weekly candle close, which many claim is a bearish reversal signal painted on weekly price charts. 

The calls for $6,000 were quite preemptive as Bitcoin hasn’t yet broken below $7,400. In fact, a poll posted just moments before the sudden surge heavily skewed toward $7,200 over $8,000 as Bitcoin’s next target. The votes have since evened out as the poll is still live, and not even an hour after the poll was posted, Bitcoin had already touched $8,000.
Staring in the Eyes of Massive Crypto Market Head and Shoulders Formation
Bitcoin bulls may have bested the bears once again, if a massive head and shoulders that is forming on the price charts of Bitcoin and other major cryptocurrencies plays out, bears will soon be having a parade at the expensive of the bulls.

So NOW we gettin a head and shoulders…. pic.twitter.com/G9DkWxNHG7
— dave the wave (@davthewave) June 10, 2019

The powerful bearish reversal pattern began at the start of May when Bitcoin breached resistance at $6,000. A quick rise to around $8,200 happened, before the leading crypto by market flashed crashed forming the left shoulder.

pic.twitter.com/ahm0XixgcO
— Peter Brandt (@PeterLBrandt) June 9, 2019

The surprisingly resilient crypto asset, then bounced back to over $9,100 before a violent rejection put the entire two-month rally in jeopardy.

$BTC Daily Chart.
Heading, no pun intended, into the right shoulder of the Head and Shoulders pattern should happen soon. After that, all bets are off. Could still take a week or so to develop. Expecting choppy higher prices this week. Proceed with caution.#BTC pic.twitter.com/9Z7lZoRhtP
— CryptoFibonacci (@CryptoFib) June 10, 2019

After falling to local lows below $7,500, Bitcoin has now revisited above $8,000 twice, signaling that the bulls are still putting up a fight – however, a break above $8,200 is required for the enormous reversal pattern to be invalidated.
Featured image from Shutterstock
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