#XRP
OUTLOOK: Bullish, but a healthy pullback cannot be ruled out
Overbought daily RSI, potential double bottom on 1-hour chart. Could test $0.80
Overall outlook bullish as suggested by ascending 5DMA and 10DMA.
OUTLOOK: Bullish, but a healthy pullback cannot be ruled out
Overbought daily RSI, potential double bottom on 1-hour chart. Could test $0.80
Overall outlook bullish as suggested by ascending 5DMA and 10DMA.
#BTCUSD Daily Snapshot
OUTLOOK: Bullish abv $8,459
"Sideways breach" of long term descending trendline does not indicate bullish breakout
So bulls would like to see break abv $8,459
Close below $7,823 would signal deeper pullback to $7.2
OUTLOOK: Bullish abv $8,459
"Sideways breach" of long term descending trendline does not indicate bullish breakout
So bulls would like to see break abv $8,459
Close below $7,823 would signal deeper pullback to $7.2
📰 Europe Introduces Customer Verification on Cryptocurrency Exchanges
The European Parliament has voted in favor of stricter regulations in the crypto sector. Crypto exchanges and wallet providers will be required to introduce customer due diligence procedures, including identity verification. The platforms will have to apply for registration in order to offer their services. The new measures come with the latest update of the EU Anti-Money Laundering Directive.
The European Parliament has voted in favor of stricter regulations in the crypto sector. Crypto exchanges and wallet providers will be required to introduce customer due diligence procedures, including identity verification. The platforms will have to apply for registration in order to offer their services. The new measures come with the latest update of the EU Anti-Money Laundering Directive.
The above chart shows:
The long-term descending trendline has been breached in a convincing manner, signaling a long-term bullish-to-bearish trend change.
The 5-day moving average (MA) and the 10-day MA are trending north, indicating a short-term bullish setup.
The 200-day MA resistance is lined up at $9,737.
The long-term descending trendline has been breached in a convincing manner, signaling a long-term bullish-to-bearish trend change.
The 5-day moving average (MA) and the 10-day MA are trending north, indicating a short-term bullish setup.
The 200-day MA resistance is lined up at $9,737.
View:
Despite the pullback from $9,060, the outlook remains bullish. Cryptocurrency may crowd out weak bulls (risk-averse traders) by revisiting the trendline support (former resistance) before finding acceptance above the $9,000 mark.
The bullish breakout suggests the cryptocurrency will likely test 200-day MA hurdle of $9,737 in the short-run.
Only a daily close (as per UTC) below the ascending (bullish biased) 10-day MA would signal bullish invalidation.
Despite the pullback from $9,060, the outlook remains bullish. Cryptocurrency may crowd out weak bulls (risk-averse traders) by revisiting the trendline support (former resistance) before finding acceptance above the $9,000 mark.
The bullish breakout suggests the cryptocurrency will likely test 200-day MA hurdle of $9,737 in the short-run.
Only a daily close (as per UTC) below the ascending (bullish biased) 10-day MA would signal bullish invalidation.
🎓 A global study of cryptocurrency purchases made by users of Visa, Mastercard, and Unionpay cards shows that 89% of respondents are knowledgeable about crypto and 53% have purchased some in the past 12 months.
#ETHUSD
OUTLOOK: Bullish, but upside limited
Could test $660-$670 but trendline resistance will likely hold as the RSI is close to signaling overbought conditions
Rejection the trendline could yield a pullback to ascending (bullish biased) 10-day MA
OUTLOOK: Bullish, but upside limited
Could test $660-$670 but trendline resistance will likely hold as the RSI is close to signaling overbought conditions
Rejection the trendline could yield a pullback to ascending (bullish biased) 10-day MA
#BitcoinCash
Hardfork did a nice job so far, keep in mind: Harder Pump = Harder Dump
OUTLOOK: Overbought
RSI highest since December, shows rally overdone
Pullback to $1,300-$1,250 cannot be ruled out
Dips could be short-lived as 5,10MAs are trending north
Key resistance: $1,480, $1,630
Hardfork did a nice job so far, keep in mind: Harder Pump = Harder Dump
OUTLOOK: Overbought
RSI highest since December, shows rally overdone
Pullback to $1,300-$1,250 cannot be ruled out
Dips could be short-lived as 5,10MAs are trending north
Key resistance: $1,480, $1,630
📰 Another Chinese City Is Backing a Big Blockchain Investment Fund
The city government of Shenzhen, China, is backing a dedicated blockchain investment fund, soon after Hangzhou city supported a similar effort.
Announced at a blockchain event in the city on Sunday, hosted by the China Electronic Commerce Association, the fund aims to invest 500 million yuan ($80 million) in blockchain startups in Shenzhen during its first phase.
The city government of Shenzhen, China, is backing a dedicated blockchain investment fund, soon after Hangzhou city supported a similar effort.
Announced at a blockchain event in the city on Sunday, hosted by the China Electronic Commerce Association, the fund aims to invest 500 million yuan ($80 million) in blockchain startups in Shenzhen during its first phase.
#BTCUSD
Doji and bearish follow-through, signals exhaustion, also marks failure at $9062 - 50% fib retracement
BTC likely to test 10-day MA support of $8,421 before rising to 200-day MA located at $9,784
Doji and bearish follow-through, signals exhaustion, also marks failure at $9062 - 50% fib retracement
BTC likely to test 10-day MA support of $8,421 before rising to 200-day MA located at $9,784
📰 Finland Has Identified Thousands of Bitcoin Traders Who Owe Taxes
Most Finns have not reported income to the country’s tax department from the sale of cryptocurrencies in previous years.
While only 500 people were identified in December, last week the Tax Administration Office revealed 3,300 people who owe taxes from bitcoin-related income
The aggregate capital gain of the 3,300 persons identified will be about 100 million euros, so the taxpayers’ share of the pot would be around 30 million euros.
Most Finns have not reported income to the country’s tax department from the sale of cryptocurrencies in previous years.
While only 500 people were identified in December, last week the Tax Administration Office revealed 3,300 people who owe taxes from bitcoin-related income
The aggregate capital gain of the 3,300 persons identified will be about 100 million euros, so the taxpayers’ share of the pot would be around 30 million euros.