Bitcoin to continue with wayward movement; monthly close should be the focus, claims analyst

Bitcoin is neither here nor there. But, the king coin is everywhere. The king coin is looking to close the week in a relatively stable condition, not an accurate reflection of the roller coaster of the past few days. Bitcoin, which began the week at over $11,500, shaved over $1,000 and then dropped below the […]
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Source: AMB Crypto

Bitcoin Price (BTC) Signaling Bullish Continuation To $11K

Bitcoin price rallied recently above the $10,000 and $10,200 resistance levels against the US Dollar.
The price climbed towards the $10,800 resistance and recently started consolidating gains.
There is a contracting triangle forming with resistance near $10,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price could accelerate towards $11,000 and $11,200 if it clears the $10,800 resistance.

Bitcoin price is showing a lot of positive signs above the $10,400 support against the US Dollar. BTC is currently preparing for more upsides and it could rally towards $11,000.
Bitcoin Price Analysis
After a major decline below $10,000, bitcoin price found support above $9,100 against the US Dollar. The BTC/USD pair formed a decent support base above the $9,500 level and recently started a strong recovery. Besides, it broke the key $10,000 resistance to move into a positive zone. Finally, the upward move was such that the price even traded above $10,200 and the 100 hourly simple moving average.
Moreover, the price broke the $10,500 resistance and traded close to the $10,800 level. A swing high was formed near $10,807 and the price started consolidating gains. It corrected below the 23.6% Fib retracement level of the upside move from the $9,253 low to $10,807 high. Additionally, the price even spiked below the $10,400 support level. However, the decline was protected by the $10,200 support and the 100 hourly simple moving average.
At the outset, there is a contracting triangle forming with resistance near $10,700 on the hourly chart of the BTC/USD pair. Therefore, if there is an upside break above the $10,700 and $10,800 resistance levels, the price could continue to rise. The next target for the bulls could be $11,000, above which it could even surge above the $11,200 level. On the downside, a break below $10,440 might push the price towards the $10,200 support.
The next main support is near the $10,000 level. Moreover, the 50% Fib retracement level of the upside move from the $9,253 low to $10,807 high is also above the $10,000 support area. Therefore, a daily close below $10,000 might start a major decline in bitcoin price in the near term.

Looking at the chart, bitcoin price is trading with a positive bias above the $10,200 and $10,000 support levels. As long as the price is above $10,000, it could continue to rise. Overall, the main target for the bulls could be $11,000 and $11,200.
Technical indicators:
Hourly MACD – The MACD is slowly moving back into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently moving higher towards the 65 level.
Major Support Levels – $10,400 followed by $10,200.
Major Resistance Levels – $10,800, $11,000 and $11,200.
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Bitcoin longs speculated to have been leveraged more than shorts

Bitcoin’s market movements have been closely scrutinized by the entire community, with many speculating the movement of the world’s largest cryptocurrency to be a sign for the rest of the market as well. A new analysis by Skew Markets showed that there were many minor liquidations during Bitcoin’s most recent surge over $1000, which the […]
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Source: AMB Crypto

35% Bitcoin Price Drop to $9,100 is Historically Natural, Don’t Worry: Analyst

Bitcoin and the aggregated crypto markets have been incurring significant volatility as of late that has made it increasingly unclear as to which direction BTC is heading and has even made it difficult to know whether bulls or bears are in control.
Although Bitcoin’s recent drop to $9,100 certainly signaled that the crypto’s bears have significant strength, the subsequent price surge past $10,000 signals that bulls are still in control, and one analyst believes that the recent pullback is both natural and necessary for the uptrend to continue.
Bitcoin Climbs Towards $10,400 as Bulls Step Up
At the time of writing, Bitcoin is trading down slightly at its current price of $10,370, which is down slightly from its daily highs of roughly $10,700.
Although its price has dropped from its daily highs, it is important to note that it is trading up significantly from its weekly lows of $9,100 that were set earlier this week.
The positive reaction to the recent dip into the four-figure price region signals that buyers are still in control, and that there is a significant amount of buying support that exists below $10,000.
While looking at Bitcoin’s near-term price action, analysts are noting that the cryptocurrency might be forming an inverse head and shoulders pattern, which could mean that BTC will drop slightly before surging up towards $13,000.
“$BTC Since the H&S worked so well on the down side then maybe the inverse H&S will work just as well on the upside where a measured move from the head to neck line would take #bitcoin up to the established resistance line…note the formation of the right shoulder tests $10K again,” Chonis Trading, a popular crypto analyst, noted in a recent tweet.

$BTC Since the H&S worked so well on the down side then maybe the invers H&S will work just as well on the upside where a measured move from the head to neck line would take #bitcoin up to the established resistance line…note the formation of the right shoulder tests $10K again pic.twitter.com/ffDIYOXzkW
— Chonis Trading- (@BigChonis) July 18, 2019

BTC’s Latest Pullback Could Be Entirely Natural
Although the recent pullback marked the end of the recently incurred bull market in the mind of many investors, one prominent analyst is now explaining that 30-40% pullbacks during the course of an uptrend are entirely natural.
CryptoThies, another popular analyst on Twitter, spoke about this in a recent tweet, explaining that it is part of a “rinsing/repeating” pattern that has been seen several times throughout Bitcoin’s history.
“$BTC Bull run in 2015-2017 included run-ups, typically followed by a retrace to touch the top of the prior high. These drops ranged from 31-40%, before rinsing/repeating onward. Looks very similar to what we are seeing now,” he explained.

$BTCBull run in 2015-2017 included run-ups, typically followed by a retrace to touch the top of the prior high. These drops ranged from 31-40%, before rinsing/repeating onward.
Looks very similar to what we are seeing now. pic.twitter.com/vd5grw1bVC
— CryptoThies (@KingThies) July 18, 2019

Whether or not this pattern is a natural one or one that spells trouble for BTC will likely grow increasingly clear in the coming days as weeks as the cryptocurrency continues to struggle to hold above $10,000.
Featured image from Shutterstock.
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BitMEX May Be the First Target of the U.S.; Which Crypto Platform is Next?

The crypto industry was taken aback earlier today when news broke regarding popular leveraged crypto trading exchange, BitMEX, being investigated by regulatory authorities in the United States.
Importantly, news regarding this investigation came about shortly after top officials within the US government criticized the nascent crypto markets, with the Treasury Secretary warning that they would be implementing and enforcing “very strong” regulations in the near-future.
Crypto Trading Platform BitMEX Under Instigation by CFTC 
Earlier today, news broke that BitMEX is currently being investigated by the United States Commodity and Futures Trading Commission (CFTC) for allowing Americans to utilize the platform without having the proper licensing and registrations.
The news, which was first reported by Bloomberg, came closely on the heels of comments from top officials within the US government, who offered a less-than-positive perspective on the crypto markets, deeming them as markets rife with crime and fraudulent activity.
HDR Trading Limited, BitMEX’s parent company, declined the opportunity to comment on the investigation, but BitMEX CEO, Arthur Hayes, has previously stated that the company does ban users from the US who attempt to undermine the company policy – which technically does not allow US residents to access the platform.
It remains unclear as to where this investigation could lead, or as to what the consequences could be. But prominent critic of both crypto and BitMEX, Nouriel Roubini, noted in a recent tweet that be believes the allegations set forth by the CFTC are just a “fraction of the sleeze going on in BitMEX.”

Crimes probed by @CFTC are a fraction of sleaze going on in BitMEX:
U.S. Regulator Probing Crypto Exchange BitMEX Over Client Trades. Trading platform known for 100x leverage futures contract. Probe comes as regulators ramp up scrutiny of crypto sectorhttps://t.co/X0JDU5Ge46
— Nouriel Roubini (@Nouriel) July 19, 2019

US Government About to Crackdown on the Nascent Markets
The CFTC’s probe of BitMEX comes just one day after US Treasury Secretary, Steven Mnuchin, told CNBC in an interview that the government would begin policing crypto with “very, very strong” regulations.
Mnuchin further added that the goal of these regulations would be to ensure that Bitcoin and other cryptos don’t become the equivalent of “Swiss-numbered bank accounts.”
Because it is not possible to actually regulate decentralized cryptocurrencies themselves, it is highly probable that the first target of regulators will be crypto exchanges, as many of them have been operating in the shadows beneath the nose of regulators.
In other countries that have more progressive regulations, like Korea, federal regulators first started targeted crypto exchanges, forcing them to adhere to the strict rules that govern the banking industry.
Although it still remains clear as to when and how the US will go about slapping the “very strong” regulations on the markets, it is likely that more exchanges will begin facing increased scrutiny from groups like the CFTC in the near-future.
Featured image from Shutterstock.
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CFTC Investigates Crypto Exchange BitMEX Over Client Trades

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CFTC Investigates Crypto Exchange BitMEX Over Client Trades
The U.S. Commodity Futures Trading Commission (CFTC) is reportedly probing crypto derivatives exchange BitMEX to determine whether it broke rules by allowing U.S. traders on its platform.
CFTC Investigates Crypto Exchange BitMEX Over Client Trades

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Source: CoinSpeaker

Fidelity-Backed Blockchain Accelerator Attracts Over 50 Mentors

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Fidelity-Backed Blockchain Accelerator Attracts Over 50 Mentors
The blockchain accelerator program called Startup Studio which is backed by Fidelity Investments and 20 other companies, has managed to attract over 50 mentors.
Fidelity-Backed Blockchain Accelerator Attracts Over 50 Mentors

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Source: CoinSpeaker

Altcoins get much-needed respite after Bitcoin surges by 12% in an hour

Bitcoin broke out of a rising wedge yesterday at 11:00 UTC, contributing to the price falling from $9,800 to $9,300. The bears had the matter under control until the king coin’s price started pumping again. Subsequently, Bitcoin’s price pumped by a whopping 12% in an hour i.e ~$1,400 pump in an hour. The 12% price […]
The post Altcoins get much-needed respite after Bitcoin surges by 12% in an hour appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin Price (BTC) Rallies 10%, Dips Remain Attractive To Buyers

Bitcoin price started a strong recovery and broke the key $10,000 resistance area against the US Dollar.
The price surged more than 10% and broke the $10,500 resistance to test $10,800.
There was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price traded as high as $10,807 and it is currently consolidating gains.

Bitcoin price surged more than 10% above $10,500 against the US Dollar. BTC is currently consolidating gains and dips are likely to find a strong support above $10,000 and $10,200.
Bitcoin Price Analysis
In the past few days, we saw a major drop in bitcoin price below the $10,000 support against the US Dollar. The BTC/USD pair traded close the $9,000 support level and formed a new monthly low near $9,095. Later, the price formed a decent support base above $9,400 and recently started an upward move. It surged more than $1,000 and broke the key $10,000 resistance.
There was a break above the 61.8% Fib retracement level of the last key drop from the $11,060 swing high to $9,100 swing low. Moreover, there was a break above a major bearish trend line with resistance near $9,800 on the hourly chart of the BTC/USD pair. The pair even settled above the $10,400 level and the 100 hourly simple moving average. The upward move was such that the price tested the $10,800 resistance and a swing high was formed near $10,807.
The price is currently consolidating below $10,800 and trading inside a contracting triangle. If there is a downside break, the price could test $10,440 or the 23.6% Fib retracement level of the recent wave from the $9,271 low to $10,807 high. However, the main support on the downside is near the $10,200 level and the 100 hourly simple moving average.
Moreover, the 50% Fib retracement level of the recent wave from the $9,271 low to $10,807 high is also near the $10,040 level. Therefore, dips towards the $10,400 and $10,200 levels are likely to find a lot of buyers. On the upside, a break above the $10,800 resistance might start another rise.

Looking at the chart, bitcoin price is clearly trading in a positive zone above the $10,200 and $10,400 support levels. If there are more gains above $10,800, the price might move towards the $11,500 level in the near term.
Technical indicators:
Hourly MACD – The MACD is slowly moving back into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting from 70 and it could test 55.
Major Support Levels – $10,400 followed by $10,200.
Major Resistance Levels – $10,800, $11,000 and $11,500.
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Crypto Market and Bitcoin Could Continue Higher: BCH, EOS, TRX, ADA Analysis

The total crypto market cap started a decent recovery and broke the key $260.0B resistance.
Bitcoin price rallied around 10% and broke the $10,000 and $10,500 resistance levels.
EOS price recovered steadily and even broke the $4.00 resistance area.
BCH price is up more than 5% and it recently cleared the $300 resistance.
Tron (TRX) price gained around 8% and surpassed the $0.0250 resistance level.
Cardano (ADA) price is still struggling below the $0.0600 level.

Bitcoin price jumped more than $1,000 and the crypto market cap is up more than 10%. Ethereum (ETH), EOS, Tron (TRX), BCH, ripple, ADA and BNB are likely to continue higher.
Bitcoin Cash Price Analysis
After this past week’s significant decline, bitcoin cash price found support near the $270 level against the US Dollar. The BCH/USD pair started a decent upward move and broke the key $290 and $300 resistance levels. It is currently up around 5% and is trading near the $310 level.
If there are more gains, the price may perhaps test the $320 resistance level. On the downside, the $305 and $300 levels are decent supports, below which the price may move back in a bearish zone.
EOS, Tron (TRX) and ADA Price Analysis
EOS price is slowly recovering and it recently broke the $3.900 and $4.000 resistance levels. However, there is a strong resistance forming near the $4.200 level, where the bulls might face a tough challenge in the near term. A successful break above $4.200 could push the price towards the $4.500 level.
Tron price is gaining momentum and it gained around 20% in the past three days. TRX price broke the $0.0240 and $0.0250 resistance levels and it seems like it could continue to rise. The next major hurdle for buyers is near the $0.0265 level.
Cardano price remains in a bearish zone and it recently formed a decent support near the $0.0550 level. However, ADA price is facing a crucial resistance near $0.0600, above which the price could recover higher in the coming sessions. The next main resistance is near the $0.0650 level.

Looking at the total cryptocurrency market cap 4-hours chart, there was a steady rise from the $230.0B support area. The market cap surpassed the key $250.0B and $260.0B resistance levels. Moreover, there was a break above a major bearish trend line with resistance at $260.0B on the same chart. At the moment, the market cap is facing resistance near the $280.0B level and it might correct lower in the near term. However, the broken resistance near $260.0B may perhaps act as a key support zone. Overall, dips remain supported in bitcoin, ETH, XRP, TRX, ADA, bitcoin cash, litecoin, EOS, stellar, IOTA, ICX, WAN, and other altcoins.
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Bitcoin Volatility Surges Since February of 2019; Is Another Big Move Imminent?

There’s no question that the past several months have been a wild ride for Bitcoin and the aggregated crypto markets, with BTC surging from 2019 lows of roughly $3,400 to highs of $13,800, which has proven to be a strong level of resistance in the time since.
This meteoric rise, and subsequent drop, has marked one of the most volatile periods in Bitcoin’s history, just slightly lower to that seen in late-2017 during the massive bull run.
Bitcoin Experiences Massive Volatility as Bulls and Bears Battle
At the time of writing, Bitcoin is trading up nearly 8% at its current price of $10,550, which is up significantly from its daily lows of $9,300 that were set earlier today.
This massive upwards movement came about after an extended period of downwards pressure on BTC, which has sent it reeling lower over the past several weeks from $13,800 – which remains a local top for the cryptocurrency.
Importantly, although the recent pullback has certainly spelled trouble for Bitcoin’s bulls, it is important to note that the cryptocurrency is still in a firm uptrend, as it is currently trading up a whopping 215% from its 2019 lows.
This level volatility has been largely unrivaled in the cryptocurrency’s history and has only been seen once in the latter part of 2018, and once during the massive bull run witnessed in late-2017.
“Bitcoin volatility is back to levels not seen since the end of the great 2017 bull market,” Skew Markets explained in a recent tweet.

Bitcoin volatility is back to levels not seen since the end of the great 2017 bull market pic.twitter.com/2CfKOOjPOo
— skew (@skew_markets) July 18, 2019

BTC May Experience a Significant Pullback Before Uptrend Continues 
Although the volatility experienced as of late has been largely bullish, one prominent analyst is now noting that BTC may incur a significant pullback during the course of its next uptrend, which could send it to below $7,000.
Dave the Wave, a popular cryptocurrency analyst on Twitter, spoke about this uptrend cycle in a recent tweet, noting that Bitcoin may drop below $7,000 before finding support, a move that could be followed by a surge to fresh all-time-highs.
“Never fear, TA is here. A feasible scenario for a five year cycle going forward [lengthening cycles],” he said while referencing the below chart.

Never fear, TA is here. A feasible scenario for a five year cycle going forward [lengthening cycles]. pic.twitter.com/FUrwfWTi8o
— dave the wave (@davthewave) July 18, 2019

As the week continues on and Bitcoin continues to face increased levels of volatility, it is highly probable that Dave the Wave’s cycle outline will either be validated or invalidated, which could spell trouble for some investors who are expecting BTC to surge towards $20k in the near-future.
Featured image from Shutterstock.
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Bitcoin’s volatility at par with the end of 2017 bull run; will the price rebound?

Bitcoin [BTC] has been facing the brunt of the deliberations being carried out in the House of Representatives, plunging by almost 12% in its immediate aftermath. Just a month back, the king coin was re-visiting its old highs. However, this trend changed within no time and Bitcoin has since, been falling. Skew Markets on Twitter […]
The post Bitcoin’s volatility at par with the end of 2017 bull run; will the price rebound? appeared first on AMBCrypto.
Source: AMB Crypto

Ethereum whale linked to flash crash on Bitstamp resurfaces with a massive buy order

An Ethereum whale is speculated to have caused a market crash on July 14, with a sell order of approximately 15,000 ETH pulling the price of Ethereum down from $290 to $190. This crash is understood to have bled over to Bitcoin, contributing to the king coin’s price slumping from $10,800 to $9,100, a massive […]
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Source: AMB Crypto

IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View

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IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View
The latest Q2 reports show that IBM’s earnings and cloud revenue surpassed the projected street view while Bitcoin plunged below $10,000 as the US Senate has a go at Facebook’s Libra.
IBM Stock Down Despite Earnings, Cloud Revenue Beat Wall Street View

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Source: CoinSpeaker

Bitcoin & Crypto Market Near Key Juncture: LTC, BNB, BCH, TRX Analysis

The total crypto market cap declined towards the $235.0B level and recently corrected higher.
Bitcoin price is also correcting higher, but it is facing hurdles near $9,800 and $10,000.
Binance coin (BNB) price recovered more than 10% and broke the $27.00 resistance area.
Litecoin (LTC) price rallied recently above the $80.00 and $85.00 resistance levels.
BCH price is slowly approaching towards the key $300 resistance area.
Tron (TRX) price is up around 10% and it is currently trading above the $0.0220 level.

The crypto market cap and bitcoin (BTC) are currently near an important juncture. Ethereum (ETH), BNB, litecoin, ripple, BCH, TRX, XLM and EOS are showing signs of a short term recovery.
Bitcoin Cash Price Analysis
After a sharp decline below the $300 level, BCH price found support near the $270 level against the US Dollar. The BCH/USD pair started an upside correction and traded above the $280 and $290 levels. It seems like the price is slowly recovering and it could soon test the key $300 resistance level.
If there is an upside break above $300, the price could correct towards the $320 level. If not, the price is likely to decline again below the $290 and $280 level in the near term.
Binance Coin (BNB), Litecoin (LTC) and Tron (TRX) Price Analysis
Binance coin (BNB) price found strong support near the $24.00 level and it recently started an upward move. BNB price broke the $25.00 and $26.50 resistance levels. It even broke the $27.00 resistance and it may soon test the $27.50 resistance level.
Litecoin price found support near the $75.00 level after a massive decline. LTC price jumped higher recently and broke the $80.00 resistance level. The price is up more than 12% and it is approaching towards the $92.00 and $95.00 resistance levels, where sellers could emerge.
Tron price tested the $0.0200 support level and recently corrected higher. TRX price is up around 10% and it broke the $0.0215 and $0.0220 resistance levels. The next key resistance on the upside is near the $0.0230 and $0.0232 levels.

Looking at the total cryptocurrency market cap 4-hours chart, there was a downside extension below the $250.0B support area. The market cap moved towards the $235.0B level and formed a swing low at $234.9B. It recently corrected higher and broke the $245.0B and $250.0B resistance levels. However, there is a strong resistance formed near the $260.0B level and a bearish trend line, which is currently acting as a barrier. If there is an upside break above the trend line, there could be a decent comeback n bitcoin, Ethereum, EOS, litecoin, ripple, binance coin, BCH, TRX, XMR, XLM and other altcoins in the near term.
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