#BTC
OUTLOOK: Bearish
Weekly chart: Downside break of the pennant indicates a resumption of sell-off from record highs and will likely yield a drop below Feb. low of $6,000.
100-week MA is lined at $4,497 and rising trendline supp is seen around $3,500.
OUTLOOK: Bearish
Weekly chart: Downside break of the pennant indicates a resumption of sell-off from record highs and will likely yield a drop below Feb. low of $6,000.
100-week MA is lined at $4,497 and rising trendline supp is seen around $3,500.
#BTC 4-hour chart
RSI shows extreme oversold conditions, so a minor corrective rally cannot be ruled out, but will likely be short-lived.
RSI shows extreme oversold conditions, so a minor corrective rally cannot be ruled out, but will likely be short-lived.
#EOS, Weekly chart
OUTLOOK: Bearish
Rising trendline breached
5, 10-week MA bearish crossover is seen
Closed last week below 50% Fib retracement
EOS could test $9.09 (61.8% Fib) soon
Move above 10-week MA of $13.61 would abort bearish view
OUTLOOK: Bearish
Rising trendline breached
5, 10-week MA bearish crossover is seen
Closed last week below 50% Fib retracement
EOS could test $9.09 (61.8% Fib) soon
Move above 10-week MA of $13.61 would abort bearish view
Ethereum’s supply has crossed the 100 million mark
Unlike Bitcoin which has its supply capped at 21 million, Ethereum has opted not to set an upper limit on its total coin supply. This has raised concerns about inflation in the Ethereum community for years on end.
The total supply of Ether has been seeing a constant rise (approximately 10%) per year. Ethereum’s genesis block (i.e. the first block of its blockchain) was launched in 2015 with 72 million Ether already generated. This means that another 28 million Ether has been mined in nearly 3 years since the public launch of the network.
Casper protocol is expected to reduce the current inflation rate of 10% to 0.5-2% per year, but the timeline for its implementation remains uncertain.
Unlike Bitcoin which has its supply capped at 21 million, Ethereum has opted not to set an upper limit on its total coin supply. This has raised concerns about inflation in the Ethereum community for years on end.
The total supply of Ether has been seeing a constant rise (approximately 10%) per year. Ethereum’s genesis block (i.e. the first block of its blockchain) was launched in 2015 with 72 million Ether already generated. This means that another 28 million Ether has been mined in nearly 3 years since the public launch of the network.
Casper protocol is expected to reduce the current inflation rate of 10% to 0.5-2% per year, but the timeline for its implementation remains uncertain.
#ETHUSD is flirting with a bear flag breakdown, the hourly chart shows.
If confirmed, the flag breakdown would signal a resumption of the sell-off and could yield a drop below $500.
RSI has regained bearish bias.
If confirmed, the flag breakdown would signal a resumption of the sell-off and could yield a drop below $500.
RSI has regained bearish bias.
Binance Signs Deal Paving the Way for British Pound Trading Pairs
A team from Binance have signed a memorandum of understanding with officials from Jersey, an island just off the coast of Britain, with the aim of launching a crypto to pound exchange in the island.
“We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment,” - Changpeng Zhao, Binance’s founder, said.
A team from Binance have signed a memorandum of understanding with officials from Jersey, an island just off the coast of Britain, with the aim of launching a crypto to pound exchange in the island.
“We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment,” - Changpeng Zhao, Binance’s founder, said.
#Bitcoin must read
4600-5400 is the most probable bottom with 80% probability to hold, may dip to 3200-3600 but reversal will be instant. Current Support 6450 which may offer some bounce.
4600-5400 is the most probable bottom with 80% probability to hold, may dip to 3200-3600 but reversal will be instant. Current Support 6450 which may offer some bounce.
Last time #bitcoin's daily RSI level was this low (~26.4) in 2016, this happened...
📰 Ethereum is not a security, at least in the view of U.S. Securities and Exchange Commission (SEC) director of corporate finance William Hinman.
Speaking at the Yahoo! All Markets Summit: Crypto event in San Francisco Thursday, the official told the audience that the agency "doesn't see a lot of value in treating ether today as a security," explaining that the fact that there is no central figure or group responsible for ethereum, and therefore "the assets may not represent an investment contract."
Speaking at the Yahoo! All Markets Summit: Crypto event in San Francisco Thursday, the official told the audience that the agency "doesn't see a lot of value in treating ether today as a security," explaining that the fact that there is no central figure or group responsible for ethereum, and therefore "the assets may not represent an investment contract."
❗️SEC sponsored rally couldn’t really go too far as expected! Topside Resistance is very heavy. We may spend some time on the upper floor before elevator to basement again!
BTC Resistance: 6733, 6869, 7080, 7335
Bottom targets still 5400-4600 range
BTC Resistance: 6733, 6869, 7080, 7335
Bottom targets still 5400-4600 range
Currently BTC is teasing a bear flag breakdown, if confirmed, the bears could make a strong comeback, pushing BTC back to $6,100
Watch the RSI has already breached the ascending trendline in favor of the bears.
Watch the RSI has already breached the ascending trendline in favor of the bears.