Posts Tagged: cryptocurrency bitcoin price

Ascending channel Bitcoin price breakout a possibility despite OKEx scandalĀ 

BTC – Ascending channel Bitcoin price breakout possible in spite of OKEx scandal Bitcoin price tag lost the bullish energy that took the price to $11.7K earlier this week although the present cooktop could provide opportunities to swing traders.

Earlier this week Bitcoin (BTC) price moved into a bullish breakout to $11,725 following the previous week’s news that Square obtained $4,709 BTC but since then the cost has slumped back into a sideways range.

Several rejections close to $11,500 and the latest news of OKEx halting a number of withdrawals as its CEO’ cooperates’ with a study being completed by Chinese authorities is additionally weighing on investor sentiment and Bitcoin price.

The innovation of news which is unwanted has pulled the majority of altcoin rates back into the red and extinguished the recently observed bullish momentum Bitcoin displayed.

The everyday time frame signals that losing $11,200 might open up the door for the cost to retest $11,100, a degree and that resides in a VPVR gap and would most likely give way to an additional drop to $10,900.

According to Cointelegraph Micheal van de Poppe, there is:

“Significant guidance during $11,000 is currently a must hold level to resume the bullish momentum, that might observe difficulty clearing current levels as restored coronavirus lockdowns are spooking investors.”
Van de Poppe indicates that in case Bitcoin loses the $11K support there’s the possibility of the price slipping below $10K to the 200-MA during $9,750 that is close to a CME gap.

While the current cost activity is disappointing to bulls that wish to look at a retest of $12K, going for a bird ‘s-eye view reveals that there are many variables playing out in Bitcoin’s favor.

The recent BTC allocations by MicroStrategy, Square and Stone Ridge are actually positive, especially considering the present economic uncertainties which exist as a result of the COVID-19 pandemic.

Furthermore, volumes are actually surging again at multiple BTC futures exchanges and on Friday Cointelegraph reported that Bakkt Bitcoin exchange gotten to the latest record high for BTC shipping.

Bitcoin has also largely overlooked the vast majority of the adverse information in the last two weeks and contained above the $10K level as buyers show constant desire for buying near this amount.

Assistance retests are expected

It is also well worth noting that just aproximatelly 1.5 weeks have passed since Bitcoin exited a 24-day long compression phase which had been implemented by pretty much the most recent breakout to $11,750.

Since the bullish breakout occurred the price has retested the $11,200 level as guidance but a deeper pullback to the 20-MA to test $11K as support wouldn’t be out of the typical. Even a fall to the $10,650 level close to the 100-MA would be a retest of the descending trendline from the 2020 high at $12,467.

For the temporary, it appears to be likely that Bitcoin amount will trade in the $11,400-1dolar1 9,700 area, a range that might turn out to be a swing trader’s paradise.

Promote Wrap: Bitcoin Sticks to $10.7K; DeFi Site dForce Doubles TVL contained twenty four Hours

Buying volume is pushing bitcoin greater. Meanwhile, DeFi investors keep on to seek places to park crypto for constant yield.

  • Bitcoin (BTC) is actually trading approximately $10,730 as of 20:30 UTC (4:30 p.m. EDT). Gaining 0.50 % over the prior twenty four hours.
  • Bitcoin’s 24 hour range: $10,550-$10,795.
  • BTC above its 50-day and 10-day moving averages, a bullish signal for advertise specialists.

Bitcoin’s price was able to hang on to $10,700 territory, rebounding out of a little bit of a dip after the cryptocurrency rallied on Thursday. It was changing hands around $10,730 as of media time Friday

Read more: Up five %: Bitcoin Sees Biggest Single-Day Price Gain for 2 Months

He cites bitcoin’s mining hashrate and difficulty hitting all-time highs, together with heightened economic uncertainty in the face of rising COVID 19. “$11,000 is actually the sole barrier to a parabolic operate towards $12,000 or even higher,”.

Neil Van Huis, mind of institutional trading at giving liquidity provider Blockfills, stated he’s simply happy bitcoin has been in a position to stay over $10,000, which he contends feels is a key price point.

“I think we have seen that evaluation of $10,000 hold which will keep me a level-headed bull,” he said.

The final time bitcoin dipped below $10,000 was Sept. 9.

“Below $10,000 tends to make me concerned about a pullback to $9,000,” Van Huis added.

The weekend should be somewhat calm for crypto, as reported by Jason Lau, chief operating officer for cryptocurrency exchange OKCoin.

He pointed to open fascination with the futures market as the source of that assessment. “BTC aggregate open fascination is still flat despite bitcoin’s overnight price gain – no one is actually opening brand new positions at this cost level,” Lau noted.

Market Wrap: Bitcoin Sticks to $10.7K; DeFi Site dForce Doubles TVL found 24 Hours

Buying volume is pushing bitcoin higher. Meanwhile, DeFi investors keep on to look for places to park crypto for constant yield.

  • Bitcoin (BTC) is actually trading roughly $10,730 as of 20:30 UTC (4:30 p.m. EDT). Gaining 0.50 % with the previous twenty four hours.
  • Bitcoin’s 24-hour range: $10,550-$10,795.
  • BTC above its 50-day and 10-day moving averages, a bullish signal for promote specialists.

Bitcoin’s price was able to cling to $10,700 territory, rebounding from a little bit of a dip after the cryptocurrency rallied on Thursday. It was changing hands about $10,730 as of press time Friday

Read more: Up five %: Bitcoin Sees Biggest Single Day Price Gain for 2 Months

He cites bitcoin’s difficulty and mining hashrate hitting all-time highs, together with heightened economic uncertainty in the face of rising COVID-19. “$11,000 is the sole screen to a parabolic operate towards $12,000 or even higher,”.

Neil Van Huis, head of institutional trading at liquidity provider Blockfills, said he’s just happy bitcoin has been able to remain over $10,000, which he contends feels is actually a critical price point.

“I feel we’ve observed that evaluation of $10,000 hold which will keep me a level headed bull,” he said.

The final time bitcoin dipped below $10,000 was Sept. 9.

“Below $10,000 tends to make me concerned about a pullback to $9,000,” Van Huis included.

The weekend should be fairly relaxed for crypto, according to Jason Lau, chief operating officer for cryptocurrency exchange OKCoin.

He pointed to open fascination with the futures market place as the cause of that assessment. “BTC aggregate wide open interest is still horizontal despite bitcoin’s overnight price gain – nobody is opening brand new jobs at this cost level,” Lau noted.

Stocks end lower right after a turbulent week

The US stock industry had a further day of razor-sharp losses at the end of an already turbulent week.

The Dow (INDU) closed 0.9 %, or maybe 245 points, decreased, on a second-straight day of losses. The S&P 500 (spx) and The Nasdaq Composite (COMP) both finished down 1.1 %. It was the third day of losses in a row for each of those indexes.

Even worse still, it was the third round of weekly losses due to the S&P 500 as well as the Nasdaq Composite, making for their longest losing streak since August and October 2019, respectively.

The Dow was mostly level on the week, but its modest eight point drop still meant it had been its third down week inside a row, its longest losing streak since October last year.

This rough spot started with a sharp selloff pushed primarily by tech stocks, that had soared with the summer.

Investors have been pulled directly into various directions this week. On one hand, the Federal Reserve committed to keep interest rates lower for longer, which is good for companies wanting to borrow cash — and therefore beneficial to the inventory industry.

However lower rates likewise mean the central bank does not expect a swift rebound back to normal, and that places a damper on residual hopes for a V-shaped restoration.

Meanwhile, Congress still has not passed another fiscal stimulus package as well as Covid 19 infections are rising again around the globe.

On a much more technical note, Friday also marked what’s known as “quadruple witching,” which is the simultaneous expiration of stock and index futures as well as options. It is able to spur volatility of the market place.

Stocks end lower right after a turbulent week

The US stock market had another day of sharp losses at the conclusion of a by now turbulent week.

The Dow (INDU) shut 0.9 %, or maybe 245 areas, lower, on a second-straight day of losses. The S&P 500 (The Nasdaq and spx) Composite (COMP) both finished down 1.1 %. It was the third working day of losses in a row for the two indexes.

Worse nonetheless, it was your third round of weekly losses due to the S&P 500 and also the Nasdaq Composite, making for his or her longest losing streak since October and August 2019, respectively.

The Dow was generally horizontal on the week, however its modest eight point drop nonetheless meant it had been its third down week in a row, its longest sacrificing streak since October previous year.

This rough spot began with a sharp selloff pushed mostly by tech stocks, that had soared over the summer.

Investors have been pulled into various directions this week. On one hand, the Federal Reserve committed to make interest rates lower for longer, that’s good for companies desiring to borrow money — and thus helpful to the stock industry.

But lower rates in addition suggest the central bank doesn’t expect a swift rebound again to normal, which puts a damper on residual hopes for a V shaped restoration.

Meanwhile, Congress still hasn’t passed another fiscal stimulus package as well as Covid 19 infections are rising again throughout the globe.

On a far more complex note, Friday also marked what’s referred to as “quadruple witching,” which is the simultaneous expiration of stock and index futures and options. It can spur volatility of the market.

Bullish pennant suggestions at Bitcoin price breakout to $11,300

Bitcoin price is consolidating into a tighter assortment as traders appear willing to test the $10.5K resistance.

Bitcoin (BTC) price tag seems to have entered the weekend on the nice foot after a fairly uneventful Friday found the cost continue to fluctuate between $10,200-1dolar1 10,400.

At the time of composing the daily chart indicates the top-ranked digital resource tightening into a pennant and since building a double bottom at $9,838, BTC has etched a pattern of higher lows that have now pinched the price into a tighter scope.

While trading volume still leaves a great deal to be wanted, the moving average convergence divergence indicator shows the MACD taking much closer to the signal type and the smaller bars on the histogram point that selling is slowing down.

While encouraging, the RSI remains beneath the midline as well as though BTC has become above the 100 MA a state of the art the pennant to flip $10.5K to support is also the next step traders are searching for.

As stated in the earlier analysis, if the purchase price is able to force through $10.5K, bulls will try to exploit the VPVR gap from $10,500 1dolar1 11,000 but it is very likely that the 20-MA ($10,900) will serve as resistance before moving better toward $11,300.

While Bitcoin cost continues to consolidate to a more decisive move, altcoins moved much higher to evaluate key resistance levels which just a week prior were good supports.

Yearn.finance (YFI) became a high performer, rallying 22.5 % to $38,333. Binance Coin (BNB) acquired 11.30 % and Ontology ONT relocated 13.19 % greater.

According to CoinMarketCap, the complete cryptocurrency market cap today stands at $334 billion and Bitcoin’s dominance index is now at 56.8 %.

Bullish pennant suggestions at Bitcoin price breakout to $11,300

Bitcoin price is actually consolidating into a tighter range as traders appear willing to test the $10.5K opposition.

Bitcoin (BTC) cost seems to have entered the weekend on the great foot after a relatively uneventful Friday discovered the price continue to fluctuate between $10,200-1dolar1 10,400.

At the moment of composing the everyday chart shows the top-ranked digital asset tightening straight into a pennant and since creating a two-fold bottom at $9,838, BTC has etched a pattern of higher lows which have finally pinched the cost into a tighter range.

While trading volume still leaves a lot to be ideal, the moving average convergence divergence indicator shows the MACD taking much closer to the signal type and the shorter bars on the histogram indicate that marketing is slowing down.

While pushing, the RSI is still beneath the midline as well as though BTC has become above the 100 MA a breakthrough the pennant to flip $10.5K to support is also the next step traders are searching for.

As stated in the preceding studies, if the price is able to push through $10.5K, bulls will attempt to exploit the VPVR gap from $10,500 1dolar1 11,000 however, it is very likely that the 20-MA ($10,900) will serve as resistance before moving better toward $11,300.

While Bitcoin price tag goes on to consolidate to a far more decisive move, altcoins moved higher to evaluate critical resistance levels that simply a week prior were effective supports.

Yearn.finance (YFI) became a high performer, rallying 22.5 % to $38,333. Binance Coin (BNB) received 11.30 % and Ontology ONT moved 13.19 % higher.

Based on CoinMarketCap, the entire cryptocurrency market cap today stands at $334 billion and Bitcoin’s dominance index is currently at 56.8 %.

BITCOIN AND GOLD CORRELATION LEADS TO MATCHING CUP AND HANDLE PATTERNS

Bitcoin and gold are constantly as opposed because of the parallels they discuss. But might possibly some of those very same resemblances become the reason behind each and every asset’s selling price charts building the exact same continuation pattern?

Across two completely different timeframes, both the cryptocurrency as well as the special metal are creating a cup and deal with. But what exactly does this mean for the market for the majority of 2020?

Since mid-March, market segments have been on a virtually non stop ascent. Because the dollar fell to multi year lows, its weakness enabled other best assets to manifest.

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Not many assets have carried out as well as Bitcoin, however, gold was right behind it. major stock indices and Silver even found a strong climb as a result of dollar’s decline. although a recent rebound start in the dollar sent the assets tumbling to present rates.

Sentiment throughout the market instantly switched against intense greed to be afraid of, but technicals mirror an overheated advertise cooling from before its next major move higher – at least in precious metals and cryptocurrencies.

Bitcoin and gold done with the strongest this year out among all mainstream assets classes, at some points offering neck-and-neck year-to-date performance. The two assets also are forming a really comparable cup and after that tackle pattern which could send out rates soaring greater.

But just how long could it take for the pattern to check, and do the comparisons truly make sense when they are taking place across such various timeframes?

CUP AND HANDLE PATTERN CONFIRMING TARGETS $16,000 IN BITCOIN, $3,000 FOR GOLD On weekly timeframes, as pictured above, Bitcoin has created a rounding outsole pattern, which fits up with a potential cup and tackle chart development. The one thing that’s absent, could be the remainder of the deal with.

Cup and handle patterns typically notice a handle that’s a just about 30 to 50 % retracement of the uptrend to highs. Right after a brief pullback to former structure and support, consolidation takes place and then rises once more to complete the pattern.

Coincidentally, digital gold‘s actual physical counterpart also is developing an extensive cup and after that tackle chart pattern. But, on XAUUSD charts the pattern has created over the training course of several years on the monthly timeframe.

The primary difference between the marketplaces, could be the fact that the wild west of crypto never sleeps, while gold traders take holidays in addition to the weekends off. Could possibly the discrepancy in the selection of overall trading working hours of each and every market place, be thanks to crypto trading at speed which is light as opposed to the aging archaic asset’s market hours?

It’s feasible, but whatever the cause, it is clear that the two assets are actually showing performance which is comparable. Gold recently set a fresh all-time high, while Bitcoin smashed above $12,000 exactly where it was rejected. The 2 assets snapping a breather before more upside is very healthy in the long term, and very different from Bitcoin of 2019 that discovered a 300 % rally in three months, adopted by an additional six month downtrend.

The handle enhancement could capture gold years to completely finish, while Bitcoin moving for lightning’s speed, will obtain its objective and finish the development prior to the start of 2021.

The goal of the pattern in gold will send the precious metal soaring toward $3,000, while Bitcoin would aim for targets above $16,000. Will this cup and formation pattern play through? Depends on if the cup of yours is half complete, or half empty, and what the market decides in the days ahead.

BITCOIN AND GOLD CORRELATION LEADS TO MATCHING CUP AND HANDLE PATTERNS

Bitcoin and gold are constantly compared because of the similarities they talk about. But could all those same similarities become the reason for each and every asset’s selling price charts forming the exact same continuation pattern?

Across two very different timeframes, both the cryptocurrency as well as the precious metal are actually creating a cup and handle. But precisely what does this mean for the market place for the rest of 2020?

Since mid-March, markets have been on a nearly non stop ascent. Since the dollar fell to multi-year lows, its weakness made it possible for alternative top assets to shine.

14 BTC & 95,000 Free Spins for each and every participant, ideal in mBitcasino’s Exotic Crypto Paradise! Have fun Now!
Few assets have carried out as well as Bitcoin, although gold was right behind it. Silver and major stock indices also found a strong climb due to the dollar’s decline. however, a recent rebound start in the dollar delivered the assets tumbling to current rates.

Sentiment throughout the industry immediately turned against extreme greed to dread, but technicals reflect a too hot promote cooling off ahead of its following significant move higher – at least in precious metals & cryptocurrencies.

Bitcoin and gold carried out among the most powerful this season out among all mainstream assets classes, at some spots offering neck-and-neck year-to-date overall performance. The two assets are also developing a very similar cup and manage pattern which could mail rates soaring greater.

But how long is it going to take for the pattern to confirm, and carry out the comparisons really make good sense when they are taking place across such different timeframes?

CUP AND HANDLE PATTERN CONFIRMING TARGETS $16,000 IN BITCOIN, $3,000 FOR GOLD On weekly timeframes, as pictured above, Bitcoin has created a rounding bottom pattern, which suits up with a possible cup and handle chart formation. The only thing that is missing, would be the majority of the handle.

Cup and handle patterns usually observe a handle that’s a just about thirty to fifty % retracement of the uptrend to highs. After a short pullback to former assistance, consolidation takes place and then increases once again to finish the pattern.

Coincidentally, digital gold‘s actual physical counterpart also is building a massive cup and then tackle chart pattern. Nonetheless, on XAUUSD charts the pattern has created over the program of several years on the month timeframe.

The primary distinction between these marketplaces, would be the fact that the wild west of crypto never sleeps, while gold traders take holidays and holidays off of. Could very well the discrepancy in the number of general trading working hours of each market place, be thanks to crypto trading at mild speed compared to the aging archaic asset’s market hours?

It is feasible, but no matter what the major cause, it is apparent that the 2 assets are showing performance that is equivalent . Gold recently set in place a new all time high, while Bitcoin smashed above $12,000 exactly where it was rejected. The 2 assets snapping a breather before more upside is very healthy in the long term, and extremely distinct from Bitcoin of 2019 which discovered a 300 % rally in three weeks, implemented by another six month downtrend.

The handle development might take gold years to complete, while Bitcoin going at lightning’s pace, will achieve its target and accomplish the formation before the beginning of 2021.

The aim of the pattern in gold will send the special metal soaring toward $3,000, while Bitcoin would strive for targets above $16,000. Will this cup as well as formation pattern play out? Is dependent on if the cup of yours is half full, or half empty, and what the marketplace makes a decision in the days ahead.

ETC Group Says Better Liquidity Coming for Bitcoin based mostly BTCE Traded on XETRA

ETC Group stories which it’s signed a sequence of Authorised Participants to assist the liquidity of BTCetc Bitcoin Trade Traded Crypto (BTCE). Launched in June 2020, BTCE switched the primary Bitcoin based exchange-traded merchandise to shoot on XETRA in Germany.

BTCE is hundred % actual physical backed by Bitcoin and seeks to deliver customers a option to obtain publicity to probably the most well-liked cryptocurrency. BTCE is actually issued by ETC Group and sent out by HANetf, a European white label ETF and ETC wedge.

ETC Group accounts that XTX Markets, Jane Street, and Stream Merchants are actively making market segments on XETRA to transport liquidity, small purchasing and selling spreads and execution benefits for BTCE.

ITI Capital, an FCA controlled key dealer, has in addition been signed as much as act as Approved Participant.

Since the launch of BTCE on Xetra on 18th June, BTCE AUM has grown to $53 million.

Bradley Duke, CEO of ETC Group, reported the itemizing of BTCE on XETRA, as well as the calibre of the Approved Members reveals how Bitcoin has grown almost as change into a major as well as severe institutional resource.

Our objective is to centralise fragmented Bitcoin liquidity on XETRA, by delivering a time-tested and robust product structure to this higher asset class along with the same regulatory protections of buying any other listed security. We expect to add to this already amazing line up over time to further improve the trading knowledge for investors.

Michael Lie, Head of Digital Property, Stream Merchants reported they are delighted to increase their working relationship with HANetf alongside ETC Group on the launch of Europe’s first centrally cleared Bitcoin ETC on XETRA.

Browse Wall Avenue sell off batters bitcoin, kilos palladium as customers go to profits Critics of single advantage ETPs declare these funds just add charges when prospects may get the resource immediately on an exchange. Supporters of an one-time resource, or maybe BTC based generally ETP, imagine it must open up the market to a far wide viewers since it makes a dependable road to invest cash on crypto.