Binance Drive For Crypto Dominance Is Massive For BNB, Adds 1.8%

BNB up 1.8 percent
Changpeng Zhao and the team to launch a Stablecoin

Ambitious, Binance wants to conquer the crypto world. There is a Launch Pad for crowdfunding, is active and now plans of launching a Stablecoin are in progress. While at it, BNB is rebuffing sellers, adding 1.8 percent in 24 hours.
Binance Coin Price Analysis
Fundamentals
Vitalik Buterin is concerned. It’s not about Ethereum or what regulators think of ICOs. The muzzle is on Binance and their role in the crypto ecosystem. In two short years, Binance has bulldozed its way up to be a reliable and secure exchange.
Changpeng Zhao and team abide by blockchain principles, country hoping and seeking for jurisdictions where laws are supportive of innovation and open to new technology. Towards that end, Binance settled in Malta. However, they have a branch in Jersey for trading BTC and ETH against Euros and GBP. Furthermore, they have a presence in Uganda where traders can exchange coins for the Ugandan shillings and other crypto assets.
Because of this, Vitalik says Binance now wields too much power. Changpeng Zhao may be open to criticism. However, his decision to single-handedly obliterate BSV is worrying. Unfazed, Binance is trudging on. This time, their goal is to commandeer the burgeoning Stablecoin turf.
Even though Tether is the undisputed king, Binance says their coin will be backed by alternative fiat currencies apart from the USD to reflect diversity. It Wei Zhou, the Chief Financial Officer of the crypto exchange, said:
“Our business decisions are made with our users in mind. The goal for issuing a GBP Stablecoin is to provide users with more options and more choice; to diversify the Stablecoin assets for the ecosystem. BGBP will be issued on the Binance Chain, which offers an easy and fast way to tokenize.”
Candlestick Arrangements

From the chart, the path of least resistance is upwards. Perched at seventh, Binance coin (BNB) bulls seek to print new highs. Changing hands at $31.76, BNB is up 1.8 percent in the last 24 hours, rewind losses of this week.
Since the trend is up and buyers are in control despite this week’s blips, aggressive traders can buy the dips. It’s easy to see why. There is a double bar bull reversal pattern from $30. Propelling the expansion are high trading volumes.
Even so, conservative traders should wait for a conclusive close above May 30th top at $39. After that, they can tune entries in smaller time frames while targeting $70.
Technical Indicators
Leading this trade plan is May 30th candlestick. It is extensive with high trading volumes of 4.1 million. As a result, any up-thrust confirming bulls of the last five months driving prices above $38 must be with high participation.
Similarly, losses below $30 confirming bears of May 30th must be with high volumes. That will precipitate a sell-off with targets at $25 and $17.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin (BTC) Reject Lower Prices, IRS To Clarify On Basic Tax Issues

BTC bulls absorbing sell shocks
IRS to clarify emerging concerns in their next update probably in Q3 2019

The IRS is set to issue another crypto tax guideline at a tentative time this year after five years of silence. That will better clarify their position as they address pressing queries around crypto valuation, forks, and Air Drops. Meanwhile, BTC is on a recovery path, adding 2.4 percent in 24 hours.
Bitcoin Price Analysis
Fundamentals
Paying taxes is an obligation. It is mandatory and is a way of enabling governments to deliver better services. During this tax season, the US Internal Revenue Service (IRS) is doing everything they can to simplify the process of filing tax returns.
Since their last issue in 2014, there have been intervening questions that demand consultations. Note that the space is under constant evolution. In five years ICOs have sprung up, blockchains are splitting, and there are Air Drops to spur participation.
How these assets, classified as property by IRS, are valued and consequently taxed are pain points demanding timely solutions. Accordingly, the IRS is rising to the occasion and hopefully before the end of this tax season, around mid-October, they plan to update the crypto community on their latest deliberations.
In a letter to Rep. Tom Emmer, IRS Commissioner Charles P. Rettig said the new update would among other things clarify the position of the agency on sticky concerns like forks, Air Drops and proper valuation of crypto assets.
“I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance.”
Candlestick Arrangements

At the time of writing, Bitcoin (BTC) is kicking back. It is absorbing sell pressure, adding 3.6 percent in the last day. All the same that is not an endorsement of bulls. From the chart, BTC is ranging against the USD, down 4.4 percent in the last week.
If anything, BTC is under pressure. However, as long as prices are trending above $7,500 in line with previous BTC/USD trade plan, bulls have a chance. If not, prices could end up tumbling to $6,600 or lower in a correction that could hurt holders.
Currently, the oscillation inside the $1,000 trade range is an opportunity for aggressive traders to ramp up while targeting $8,500. On the other hand, conservative traders waiting for crystal signals should be on the sidelines until after there is a satisfactory close above $8,500 or even $9,100 marking May high.
Technical Indicator
Like before, unless otherwise there is an upsurge, breaking free from this $1,000 trade range with caps at $8,500, trading volumes of May 30th will anchor this trade plan. At 31k, the candlestick is also broad. Breakouts above $8,500 or below $7,500 should be with high participation exceeding 31k or 47k of May 17th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Ethereum (ETH) Recoil From $230, Poised For A 10-Year Rally

Ethereum (ETH) stable
Darma confident, expects ETH to rally

Sellers may be ahead after this week’s drawdown, but that is unnerving to Darma. The hedge fund founders are optimistic, expecting a 10-year ETH bull run. At the time of writing, ETH is edgy, snapping back to trend and stabilizing in the last day.
Ethereum Price Analysis
Fundamentals
The bear market of 2018 damaged portfolios. Prices freely fell, and many projects folded as a result. Thirteen months later, there is a ray of hope for Ethereum and its native currency, Ether. There is sufficient evidence linking the last crypto rally and Ethereum.
From this pioneering and smart contracting platform, many projects crowdfunded, raising capital to execute their plans. However, it was after China’s intervention and consequent assault by regulators that cracks began to form. The result was a devastating death spiral that saw ETH shed 94 percent from 2017-8 peaks. By mid-Dec 2018, ETH had tanked from $1,500 to lows of $75. In short, Ether was shredded.
Nonetheless, an array of supportive fundamentals, on-chain development, and the expectation of Ethereum 2.0 plus shifting stands from regulators could be behind investor optimism. Darma Capital, a $100 million hedge fund, is overtly bullish on ETH.
While speaking to Bloomberg, Darma Capital’s founders said they expect ETH to break loose in a 10-year rally. Andrew Keys went on to say that there are “acquiring what they consider a new asset class,” and they are “10 years long” on ETH.
Candlestick Arrangement

Aligning with Darma’s overview, Ethereum (ETH) is shaking off sellers. The coin is stabilizing after losses of early this week. Regardless, sellers have the upper hand from an effort versus result perspective.
From the chart, notice that bears not only forced prices below the middle Bollinger Band (BB) but did confirm the three-bar bear pattern by close of May 30th bar. Compared to others, the wide-ranging candlestick had high trade volumes further correcting the overvaluation of May 16th.
Even so, bulls are in control thanks to the revival of May. However, the best approach in days ahead is to wait for a close above $290. If not, and as laid out before, prices drop below $230, ETH could spiral to the $170 to $190 zone in a retest.
Technical Indicators
Even as ETH recoil, sellers have an advantage. Leading this trade plan is May 30th candlestick. It is broad with high trading volumes of 410k.
Trend confirmation or cancellation depends on participation levels of the breakout bar above $290 and $230. If ETH blasts above $300 with increasing volumes exceeding 410k, traders can confidently buy the dips. Conversely, losses below $230 with similar volumes could catalyze a selloff to $170.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Cardano Success Depends on Shelly, ADA Shaky Below 9.5 Cents

ADA down 2.1 percent
Shelly TestNet set for June

Focus is on Shelly and what it brings to Cardano: Decentralization. Test Net said to be this month. According to commentators, its success could either mean success or failure for IOHK and Charles Hoskinson. At the time of writing, ADA is shaky, falling 2.1 percent from last week’s close.
Cardano Price Analysis
Fundamentals
There is evidence that the crypto space is full of talented developers. Diluting their building efforts are schemers and pump and dump artists. Their artistry can be at a significant loss for honest investors. These are individuals who are keen on clipping the market and earning what is rightfully theirs.
On the other end are quick rich scheme masters and perpetrators of pump and dumps. Regulators are after them. Besides them, there are also after creators of flimsy, half-baked but well marketed platforms. So prevalent were they that a comprehensive report revealed that investors lost billions of dollars in ICOs.
However, Cardano is after something else. Charles Hoskinson, the mastermind of this innovative project, is categorical. Their peer reviewing of every product, every smart contract is for good reasons:  To give credence to the results of their Research and Development. Behind it is the objective of flipping Ethereum and being a go-to platform where the code is law and smart contracts are verifiable.
Nonetheless, there is a level of disenfranchisement, even after Shelly. Already, select pools of validators are available for test-net later this month. However, the hard question is whether prices will rally if the test net is successful.
Candlestick Arrangement

Presently, Cardano (ADA) is trading within a bullish breakout pattern. After an astounding Q1 2019-spilling to April and May, ADA price increment means the asset is trading in the top-10.
Nonetheless, bears are running havoc. Like most coins, it is down 2.1 percent in the last week. If Stellar steadies, resisting sellers, XLM could flip ADA to ninth. Even so, that is not to dismiss ADA buyers. After retesting 9.5 cents and failing to close above that main resistance line, printing lower lows against the upper Bollinger Band (BB), ADA prices may drop to 6 cents.
That will constitute a retest that is so typical of a breakout pattern. Already there are hints. There is a double bar bear reversal marked by May 30th bear bar. The absence of buy pressure gives bears a leeway to press lower as revealed by June 3rd through 6th bears.
On the other hand, any sharp thrust above 9.5 cents confirms bulls of early April. That could see ADA rally to 12 cents.
Technical Indicators
From above, the May 30th bar is leading. It is extensive as it is and has high trading volumes of 367 million. Any surge above 9.5 cents or drop below 6 cents confirming or nullifying this price forecast must ideally be with high engagement exceeding 367 million.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin Sellers Determined Despite Apple, Samsung Plans

BTC down 11.5 percent
Samsung, Facebook and now, Apple finding opportunity in crypto

Apple plans to upgrade and release a new cryptographic developer tool replacing its superb CommonCrypto. All in all, it is a favorable decision following the steps of Samsung. At the time of writing, Bitcoin is stable and struggling against determined sellers.
Bitcoin Price Analysis
Fundamentals
At a time when Facebook, Samsung, and leading Wall Street tech leaders are foraying into blockchain and crypto, Apple is joining the crypto bandwagon. In a measured announcement during the Worldwide Developers Conference in Cupertino, Apple shall unveil a CryptoKit accompanying the release of their latest operating system, the iOS 13.
The “cryptographic” developer tool will replace the CommonCrypto, which is Apple’s previous framework. With this, developers will now execute hashing operations, generate keys, and altogether manage their crypto processes in a “secure enclave achieving a similar level of security to hardware wallets.”
Alejandro Machado, the co-founder at Open Money Initiative, said:
“For the first time, developers can leverage the secure enclave to manage a ‘user’s keys in an iPhone, achieving a similar level of security to hardware wallets.”
While Apple upgrades, Facebook is doing everything they can to avert another crisis. Their plan of launching a stable coin and possibly monetize WhatsApp via Project Libra may draw heat. That could explain why their representatives are consulting with the Winklevoss Twins as well as the US CFTC.
Related news has it that Mark Zuckerberg’s team will have a Foundation in place to deflect talk of possible centralization while concurrently complying with ‘regulators’ demands.
Candlestick Arrangement

Meanwhile, Bitcoin (BTC) is under pressure. After two months of higher highs, prices are cooling off, allowing for a bear assault. At press time, BTC is down 11.5 percent week-to-date and stalling at $7,800. From the daily chart, buyers are in control.
However, after an extended rally that saw BTC clear $6,000 and retests $9,100 in short bursts, the retracement was inevitable. Even so, strong support is at $7,500 with caps at $8,500 and $9,000. Since BTC is consolidating against the USD, aggressive traders can buy the dips aware that any fall below $7,500 cancels this bullish outlook.
Such a breach, and as emphasized in previous BTC/USD trade plans, could spur a selloff towards $6,600 and to $5,600 or April high. That will complete a retest typical of breakouts.
Technical Indicator
Leading this trade plan is June 4th bear candlestick. Behind its extensive trade range is high participation of 30k against 17k.
Therefore, for trend continuation, any upswing above $8,500 that rewind losses of June 3rd  and 4th, must be with volume swells above 30k complementing those of May 26th.
Conversely, any fall below $7,500, canceling this trade plan must be with equally high trading volumes.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Art Resides in Ethereum’s Immutable Ledger, ETH Down 9.9%

ETH firm above $230
Nexus Mutual and Argent partnering, will avail bank-account grade security

Ida Jonsson and Simon Saarinen are paying homage to the Circle Game. By immutably burying three ASCII Permanent Penises, the artists will be maintaining their culture. While at it, ETH is steady in the last 24 hours.
Ethereum Price Analysis
Fundamentals
Well, art is all about inspiration. Artists are creatives, and blockchain is their new playground. Two Swedish conceptual artists, Ida Jonsson and Simon Saarinen, are taking expressiveness to the next level. They have buried the first of the three ASCII Permanent Penises in the Ethereum blockchain.
The image of a phallus is now inside an ETH transaction. According to reports, the Permanent Phallus will be paying homage to the Circle Game. Commenting on this “interesting” development, Ida Jonsson said:
“Ever since I heard about the blockchain and its immutable character, I’ve been insanely intrigued by the thought of embedding art on it. For as long as art has existed, people have been obsessed with portraying penises. Maintaining this important piece of culture just felt like the right thing to do.”
Their decision to leverage DLT is a thumb of approval and of trust. Perhaps that is the reason why two Ethereum startups are teaming up to avail bank-account grade security. Making use of smart contracts, Nexus Mutual will insure Argent’s clients against loss resulting from hackers. By freezing transactions triggered above daily limits, a user will have control preventing his/her account from being drained.
Candlestick Arrangement

After a distressing week, Ethereum (ETH) is steadying above $230. However, this is not to say that ETH bulls are in control. If anything, there are flickers of weakness. As a result, the failure of buyers to authoritatively respond after four days of lower lows could spur sellers.
Besides, considering the level of participation behind June 3rd and 4th drawdown, bears have the upper hand. Nonetheless, and per previous ETH/USD trade plans, the best approach is for traders to wait for a clear-cut opportunity.
Therefore, any weakness driving ETH below $230 could spur liquidation towards $190. On the other hand, an expansion of price towards the all-important $290 the back of high trade volumes could open up ETH scene for $300 and $400.
Technical Indicators
To sync with current price trend and candlestick alignment, May 30th bear candlestick guides this trade plan. Mentioned before, selloffs or surges above $290 or below $230 ought to be with high participation exceeding 410k of May 30th. Such a move will confirm or cancel this trade plan.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
 
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Bitcoin Cash (BCH) Registers A Double Digit Loss, $230 Incoming?

BCH crumble, fall by 10.4 percent
Hard forks make Bitcoin Cash vulnerable

After a brutal Q4 2018, Bitcoin Cash (BCH) recovery in 2019 was spectacular. However, May’s hard fork and an undesired 51 percent attack was a stain, but a necessary intervention. In a retest, BCH is retracing and could fall back to $230 in a bear trend continuation.
Bitcoin Cash Price Analysis
Fundamentals
Within the blockchain circles, nothing is as dreaded as a Majority Attack. Better known as a 51 percent attack, this rare assault happens when a miner, or a mining pool, take charge, commandeering more than 50 percent of the network’s hash-rate.
With this newfound power, the individual or the group can rewrite the history of the ledger’s transactions, literally breaking the system. While it is costly to unleash, the “attack” happened to the Bitcoin Cash network mid last month.
Ostensibly done for the general good of the Bitcoin Cash community, two of the largest BCH mining pools joined hands to reverse an illegal transaction by a miner. The unknown miner was taking advantage of a bug that was unrelated to the upgrade to try and steal funds forcing BTC.com and BTC.top to step in.
Although this was unwanted, reviving questions related to decentralization within Roger Ver’s Bitcoin Cash, supporters as Jonathan Silverblood argue that it was a necessary intervention:
“This is a very unfortunate situation, but it is also what proof of work actually is. The miners, in this case, did choose to drop prohashes block and from what I heard, it is because they deemed a transaction within it to have been invalid.”
Candlestick Arrangement

After free-falling for the better part of last year, Bitcoin Cash (BCH) performance during the previous five months has been impressive. Not only did bulls take charge, erasing losses of Q4 2018 but what we have in the daily chart is a classic retest of previous support now resistance.
What is visible is that the rally from $70 was at the back of high trading volumes helping in propelling prices back to $400. However, the failure of buyers to drum up momentum towards $600 or higher constitutes a retest.
Typical of a breakout pattern, the completion of the retest phase ushers in the third stage, the trend continuation. That is what is currently in progress and activation could see BCH tumble to $230 or the 61.8 percent Fibonacci retracement level of March and April trade range.
Technical Indicators
Since BCH is below the middle BB, May 19th bull candlestick anchors this trade plan. It has above average trading volumes of 122k and wide-ranging. Any break below $350 at the back of high participation could see BCH collapse to $230 as aforementioned.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Ongoing Ethereum (ETH) Correction Gives Buyers a Chance to Accumulate

Ethereum (ETH) drops 3.7 percent
SEC flexibility shall boost innovation

The motive of Blockchain.com’s acquisition of a blockchain startup is to merge knowledge, work towards improving security, and solving interoperability issues. However, that was not enough to move this market. Ethereum (ETH) is down 3.7 percent in the last 24 hours.
Ethereum Price Analysis
Fundamentals
The crypto markets may be shaky, but that’s just about it. Fundamentals and other on-chain developments are bullish. Of the many projects whose tokens are depreciating as analysts root for their recovery, Ethereum (ETH) is among them. The platform promotes the original intrinsic values of blockchain, namely decentralization and transparency.
Although it may not score big on scalability, creators are hard at work to overcome this huge stumbling block. That may explain the high number of developers and dApps launching on the platform.
Meanwhile, what creators have on the project’s road map is an assurance that the network is committed to being a preferred launching pad where projects can securely launch their dApps or even crowdfund. After all, the U.S. Securities and Exchange Commission (SEC) is flexible, executing their mandate while not trying to snuff innovation.
Perhaps in line with this development, Blockchain.com acquired Slock, a German startup and among the first developers of Ethereum. The goal of this merger is to work towards bolstering security and solve existing interoperability issues.
Candlestick Arrangement

At the time of writing, Ethereum (ETH) is down 3.7 percent. Even though under pressure, ETH is nonetheless oscillating within a $60 trade range. Despite liquidation pressure, ETH bulls are in control.
As a result, there is an opportunity for aggressive traders to pick up entries in smaller time frames. However, this condition is valid if ETH trades above $230. The level is immediate support, flashing with the 50 percent Fibonacci retracement level of May trade range.
Other than this, notice that ETH is below the middle Bollinger Band (BB). The flexible support was reliable, and this breach is significant for bears. Should bulls fail to recover and prices close below this mark, then the three-bar bear reversal pattern of May 30th will be valid.
In that case, prices could fall to $230, providing an opportunity for aggressive traders to enter at a discount. Any close below $230 will invalidate this bullish outlook as ETH correct back to $190 zone in a typical retest.
Technical Indicator
From above May 30th, the candlestick is a reference. It has high trading volumes of 410k against 192k average. For trend continuation, any rally above $300 ought to be with high participation exceeding 410k. Conversely, any meltdown below $230 with high trading volume nullifies this trade plan.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin Buyers Exhausted: Is This a Pause Before the $10,000 Push?

BTC is weak, down 6.1 percent
Real FOMO is after BTC blast past $10,000 according to Tom Lee

After two months of higher lows and higher highs, BTC bulls are exhausted. In the last day, the asset is down 6.1 percent. As bears press lower, it is likely that prices will crumble to $7,500 or worse in an inevitable correction.
Bitcoin Price Analysis
Fundamentals
There is a market-wide price dump, and understandably so, Bitcoin is undergoing a correction. Like most high liquid crypto assets, BTC is registering losses. Earlier today, the world’s most valuable asset fell, shedding 6.1 percent. The flash dump saw BTC lose $700 in roughly two hours.
Accompanying this price recalibration was a spike in trading volumes. Although market participants are technically bullish in expecting BTC to shake off sellers, the uptick in participation countering the main trend reeks of weakness.
Because of this, BTC may crumble, hurting traders with lofty targets that are eyeing the key $10,000 level. But then, according to Mike Novogratz and several analysts who have looked to dropping trading volumes and Bitcoin’s consolidation potential, today’s retracement reaffirms their doubts.
As a result of this, the odds are, many will end up their long positions in a panic, therefore withdrawing liquidity and fracturing the market.
Candlestick Arrangement

At the time of press, Bitcoin (BTC) is changing hands below the $8,000 mark. Meanwhile, prices are down 6.1 percent from yesterday’s close. Although traders are optimistic, it appears as if bears are back in full force. Accompanying yesterday’s loss were high trading volumes. Furthermore, yesterday’s candle was wide-ranging with the resulting candlestick closing below the middle Bollinger Band (BB).
For the last few months, the middle Bollinger Band (BB) was flexible support. As such, this breach could dent buyers’ momentum following a consolidation below $8,500 in the previous week of May.
Besides, traders should also note that the June 3rd candle did, in part, confirm the selloff on May 30th. Therefore, in a bear confirmation, yesterday’s drawdown will likely trigger a correction towards $7,500, $6,600, and potentially even worse, the $5,600 range in a bearish retrace.
Technical Indicators
In light of the above, May 30th bear candle anchors this trade plan. As mentioned above, it is broad and it from there that BTC prices are oscillating in. Apart from that, the bar has high trading volumes of 31k against 19k of May 26thand yesterday’s 16k reading.
Since BTC is correcting, any drop below $7,500 or surge above $8,500 should preferably be at the back of high trading volumes exceeding 31k of May 30th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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After Six Months of Bliss, Litecoin (LTC) Might be Preparing to Sink to $60

Litecoin (LTC) slide 4.9 percent
Halving talk dominates, demand expected to increase

Like Bitcoin (BTC), Litecoin is peaking, dropping 11.4 percent from last week’s close. That’s despite the impending block reward reduction, set to activate in early August, and other inbound positive fundamental factors. All in all, any break out above $120 will catalyze participation, driving demand, wiping the losses of May 30’s downturn.
Litecoin Price Analysis
Fundamentals
In the top 10, Litecoin (LTC) is one of the best performing digital assets. Six months after bottoming, the sixth most valuable coin is up five-fold, cementing its position in the top 10. Fueling this upswing are several factors including the rise of Bitcoin and well, Litecoin halving.
The halving is an event coded into Litecoin’s code, which cuts the amount of LTC issued per block in half. Within the Litecoin network, this occurrence activates after every 840,000 blocks. Trackers indicate that the impending halving is less than 62 days away, planned for -early August. As a result of this, traders are ecstatic, keen on reaping dividends from the expected inflation reduction.
Drawing conclusions from past events, the halving will reduce the coin in circulation by slashing daily rewards. Therefore, it is no wonder analysts are linking recent rally with this scheduled event. But, there’s more.
Litecoin as a network is largely successful. Its hash rate is at record highs, hinting at increasing levels of investment, which in turn improves the blockchain’s security. Besides, LTC is liquid, and is accepted as a form of digital currency by many merchants.
Candlestick Arrangement

Down 11.4 percent week-to-date, LTC is stalling. Obstructing the next wave of upward price action are active bears at $120. From the chart, LTC is still in range, within a $20 range between $100 and $120. Even though buyers are in control, there is currently resistance for higher highs.
Odds of a correction are high since prices are within May 30th bear candle, which is extensive, completing the three candle bear reversal pattern. That is despite today’s bar trending with a long lower wick revealing support in smaller time frames.
While the trend is up, aggressive traders can take advantage of the dip and buy the correction. The immediate target is $120. However, this plan is valid as long as LTC fails to drop below the 38.2 percent Fibonacci retracement of May trade range at $85. If bears flow back driving prices below this mark, LTC could drop to $60, retesting May’s low before snapping back to trend.
Technical Indicator
Anchoring this trade plan is May 30th candle. It has high trading volumes of 605k against 368k. If today’s prices end up closing below the middle Bollinger Band (BB), confirming bears of late May with the average trading volumes mentioned, LTC could end up sliding to $85. Conversely, any rally above $120 with high participation preferably exceeding 605k or 803k of May 16th will prop bulls aiming at $180.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Tron (TRX) Bulls Snap Back to Trend, Rewinds Earlier Losses

TRX up 22.3 percent from last week’s close
US SEC flexibility will spur innovation and Tron set to benefit

Overly, US SEC decision to support innovation could end up benefiting TRX. At the moment, bulls are back, wiping losses and confirming buyers of late May.
Tron Price Analysis
Fundamentals
Justin Sun is known for his aggressive marketing. However, considering that he is behind one of the most liquid coins in TRX that supporters claim is a utility; his approach is fodder for critics. On one end, the SEC may be relaxing their rules allowing for the sake of innovation.
Through the Director of Corporation Finance William Hinman, the US SEC announced a leeway. He said projects that even pushed the agency’s boundaries could in a flip turn from being a security to a utility. But there is a catch. It is only applicable for projects that can demonstrate use case. Only then will the agency issue a no-action letter even if it is in progress.
While this will be a relief for crypto projects fundraising via Tron or any other platform, whether TRX remains a security within the US is still a sticky topic. No doubt, comments from Justin do affect prices in one way or another. That’s on top of centralization questions and the general fractured market where regulators find themselves in a dilemma. The matter of balancing regulation without sacrificing technology and innovation will always be a tough nut for regulators.
Candlestick Arrangement

Up 22.2 percent week-to-date, 12Tron (TRX) bulls are in control. From the chart, TRX is trading within a bullish breakout pattern. In line with previous TRX/USD trade plans, the expansion over the weekend saw prices spike to 4 cents.
Even so, it appears as if TRX is heating up and may cool off. Following yesterday’s inverted hammer, today’s drawdown is a temporary correction. However, it is an opportunity for traders to buy the dips with targets at 4 cents and later 6 cents.
Should sellers press lower forcing liquidation, it is likely that TRX will fall back to the 3.1 cents mark in a retest before prices spring back to the primary trend. Ideally, the recovery as well as a breakout above 4 cents ought to be with high trading volumes revealing demand.
Technical Indicator
In light of recent developments, June 1 candlestick is our reference bar. It has high trading volumes of 31 million versus 14 million averages confirming the bullish breakout above 3.1 cents. Therefore, in an uptrend as this, any close above 4 cents ought to be with equally high trading volumes cementing this preview.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Ethereum (ETH) Retrace to $230 or $190 On The Table

ETH liquidation at $300
Ahead of Serenity, developers prefer Ethereum over competing platforms.

A raft of supportive fundamentals, on-chain development, and optimism amongst investors is behind Ethereum’s (ETH) resilience. Although under pressure, the uptrend is solid. Even so, for buyers’ confirmation, bulls must clear $300.
Ethereum Price Analysis
Fundamentals
Year-to-date, Ethereum (ETH) is lagging the world’s most valuable digital asset, Bitcoin (BTC). That is despite the positive correlation they share. However, it wasn’t until May that prices began flashing, printing green and edging higher, breaking above the $200 and later $250 level.
Currently, positive fundamentals will likely propel prices above the $300-mark building a foundation for $400 by Q2 2019. At the fore is the expected winter because of the implementation of EIP 1234. Through this, miner rewards will be slashed by a third. It is this “Thirding” that the amount of ETH in circulation will drop, allowing supply-demand dynamics to price ETH fairly.

With EIP-1234 in place, here are updated Ethereum issuance numbers in 2019.
In summary, a lot of unnecessary selling pressure is now out of the market and inflation is around 4.7%. pic.twitter.com/DbHFUWZhza
— Eric Conner (@econoar) August 31, 2018

Most likely, prices will be rounded higher at the reprieve of holders who had to contend with last year’s steep price falls. But it’s more than thirding or the acceleration towards Ethereum 2.0. The platform is not surprising attractive to developers.
Candlestick Arrangement

There is resistance for higher highs. In the last day, ETH is down 3.7 percent, reacting from $290 as sellers appear to press lower, forcing liquidation. For bulls to cement their position, then it is vital for prices to break free from the current consolidation, preferably at the back of high trading volumes.
In a breakout, there will be an impetus for more upsides. In that case, the possibility of ETH clearing $400 or higher by the end of the quarter will be on the cards. Since prices are oscillating inside May 30th trade range, sellers are temporarily in charge from an effort versus result point of view.
It all depends on what happens in the next few days now that support is at $230 or the 50 percent Fibonacci retracement level of May trade range. Any breach will surely confirm bears of May 30th, and in a trend continuation, ETH prices could crumble to $170.
Technical Indicator
In light of the above, May 30th candlestick will anchor this trade plan. It has above average trading volumes of 410k against 191k. As aforementioned, any drop or surge above $230 or $300 nullifying or confirming this trade position ought to be with high trading volumes exceeding 410k.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin May be up 14.9% But Tom Lee Expects “Real FOMO” after $10,000

BTC is steady above $8,500, add 14.9 percent
Prices in an uptrend but real FOMO is after $10,000 says Tom Lee

Tom Lee is an ardent Bitcoin supporter. Contrary to the mainstream view, he believes real FOMO for BTC will begin after prices rally past the psychological $10,000 mark. Currently, BTC is up 14.9 percent from last week’s close.
Bitcoin Price Analysis
Fundamentals
A healthy blend of growing awareness, coupled with the involvement of industry heavyweights and improving infrastructure, is somehow giving Bitcoin momentum. At some point this week, there was an expected reversal from the $9,000 mark. That is normal. Prices do expand and shrink, depending on supply and demand dynamics.
However, it is about the resilience of buyers. How they will maintain demand, and keep prices above key supports is what counts. After all, demand is a measure of participation. Although we cannot refute that buyers are back as trading volumes surge, Fundstrat Global Head Analyst Tom Lee is calling for patience.
While responding to a tweet from Financial Times’ Adam Samson, he said the real FOMO trigger is when BTC break above the $10,000 psychological mark. To him, that’s when BTC will edge past “level 10 FOMO.” The level is from Fundstrat’s study that compartmentalizes the level of BTC investor involvement from 1 to 10.

At what price will see FOMO from those who gloated about 90% crash in $BTC?
Military term, SWAG (scientific wild-assed guess).
My SWAG is $10,000 is price that causes FOMO from those who saw #bitcoin as dead forever.
POLL: At what price do we see FOMO?
— Thomas Lee (@fundstrat) May 12, 2019

Per Tom Lee’s calculations, that is when “a price level only seen 3 percent of all days [and] mathematically equivalent to exceeding $BTC $4,500 in 2017.”

Actually the point of the chart is to say “real FOMO” probably starts when #bitcoin exceeds $10,000 as that is a price level only seen 3% of all days…
…mathematically equivalent to exceeding $BTC $4,500 in 2017
Looking back, that price was a level that indeed triggered FOMO
— Thomas Lee (@fundstrat) May 29, 2019

Candlestick Arrangement

Stable above $8,500, BTC is in an uptrend. At the time of writing, the world’s most valuable digital asset is shrugging off sellers. It is up 14.9 percent from week to date, thereby affirming the presence of optimistic buyers.
In line with previous BTC/USD price analyses, traders should search for loading opportunities on dips. Modest targets lie at $9,000, which is this week’s high. However, any clearance could see BTC surge to $10,000 or higher by the end of Q3 2019.
Technically, BTC is within a breakout pattern and although in consolidation within May 26th trade range, rejection of lower prices hints of underlying demand.
In that case, risk-averse traders can wait for close above $9,000 at the back of high trading volumes exceeding recent averages.
Technical Indicator
Because of candlestick arrangement, May 26th bull bar anchors this BTC trade plan. Safe the low trading volumes, it is wide-ranging, and probably is laying the foundation that could see prices expand beyond $9,000.
In a similar fashion, the conservative traders, as aforementioned, can only initiate longs if accompanying trading volumes propelling BTC above $9,000 exceeds 19k.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Tron (TRX) Breaks Free From 5-Month Range, Rally To 4 Cents Possible

TRX flips Bitcoin SV after surging 19.8 percent
After six months, TRX is above Q1 2019 trade range

Investors are not as excited as they would otherwise be if it was another project promising a “huge and amazing” announcement. It all has to do with Justin Sun’s history. After Liverpool FC and Baidu mess, they are doubtful if Sun will deliver on June 1st. If he does, TRX could surge above 4 cents.
Tron Price Analysis
Fundamentals
That the crypto space is competitive is true. With Ethereum leading the smart contracting arena while remaining decentralized is a feat. New entrants like Tron and EOS took a different route, prioritizing speed over decentralization. That may explain why critics are often trailing figure heads.
All the same, talks of centralization aren’t slowing down Justin Sun, the co-founder of Tron. After misleading investors once that Tron has signed a deal with Baidu and later with Liverpool FC, the community seemed to have learned.
On May 26th, he said there is “something huge and amazing” that could drive BitTorrent and TRX prices. However, investors will have to wait until June 1st for all him to divulge details.

Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX $BTT
— Justin Sun (@justinsuntron) May 26, 2019

But, it seems like investors are reluctant, and it is understandable after failed promises that turned out to be marketing stunts.
Candlestick Arrangement

All the same, TRX is back to the top-10, surging 19.8 percent in the last week. From Justin’s “promise,” TRX may rally.
Because price action aligns with our overall bullish stance, there is an opportunity for traders. Visible from the daily chart, prices are trading above two key previous resistance levels, now support, at 2.7 cents and 3.1 cents.
As a result, it also means TRX broke above Q1 2019 0.6 cents range at the back of increasing participation level. In line with previous TRX/USD trade plan, traders can buy the dips with a modest target of 4 cents in a bullish breakout pattern.
Technical Indicators
Since the path of least resistance is up and behind the upswing is a spike in trading volumes, May 26th bar anchors this trade plan. It has high participation of 17 million against 8 million.
Similarly, the confirming bar had high trading volumes of 22 million versus 9 million averages. Ahead of June 1st, it is likely that trading volumes will increase above 22 million, cementing buyers and ushering in another cycle nullifying bears of late 2018.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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Bitcoin Bulls Are Skeptical Even After Bullish Signal, Will $8,500 Hold?

Bitcoin prices firm above $8,500
Technical analysts are overly bullish after Guppy indicator turned green

After three years, the Guppy technical indicator is flashing “buy.” As a result, technical analysts believe bulls are in control. That may be true because Bitcoin is up 8.9 percent in the last week but ranging above $8,500.
Bitcoin Price Analysis
Fundamentals
The excitement is palpable. However, traders ought to be practical. Trends don’t shift in short bursts. In different capital markets, it is normal for asset prices to cement their main trajectory after months or even years. As trends change, false breakouts and price consolidations are frequent. That is why, and as expected, one trader is wary of this BTC upswing.
According to a crypto trader, $11,700 is a crucial buy trigger that must be broken before bulls commandeer price action. Taking to Twitter, he said it is “ridiculous” for him to take a contrarian opinion. Nonetheless, it is wise to diverge from the mainstream stand. Even so, the trading community is confident that buyers are in firm control.
Referring to a long-term technical indicator that turned green for the first time in three years, analysts are of the view that the crypto winter is finally over. The technical indicator, Guppy printed a buy signal. The last time it did, buyers pressed higher for two years.
Candlestick Arrangement

At the time of press, Bitcoin is changing hands at $8,685, stable in the past 24 hours but bullish, adding 8.9 percent week-to-date. From fundamental and sentiment analysis, it is clear that buyers are in control.
In line with our last BTC/USD trade plan, traders can fine-tune entries in smaller time frames, loading on dips with the first target at $10,000. It is easy to see why. From candlestick arrangements, BTC is within a bullish breakout pattern thanks to May 26th price spike that temporarily placed BTC at $9,000.
Since there is a confirmation—yesterday’s bar closed above $8,500, there is an opportunity to buy at spot rates with the target as aforementioned. However, we cannot discount a pullback towards the middle Bollinger Band (BB) — around $7,700, more so if accompanying trade volumes are high.
Technical Indicator
Since the trend is bullish, our anchor bar is May 26th bullish breakout bar. It has light trading volumes but is wide-ranging. As mentioned, traders are cautious of a pullback. Regardless, every low is a buying opportunity.
While it is true that buyers are in charge, it all depends on whether the bear bar erasing May 26th gains has high trading volumes above 19k or even 47k of May 14th. If that is the case, then traders should exit their long positions and wait for another buy signal.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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