Key Points Bitcoin cash price corrected lower, but remains supported above $1200 against the US Dollar. There is a major contracting triangle forming with resistance at $1480 on the 4-hours chart of BCH/USD (data feed from Kraken). The pair might soon break the triangle resistance and trade above $1500 in the near term. Bitcoin cash… View Article
Archives for December 2, 2017
- Bitcoin cash price corrected lower, but remains supported above $1200 against the US Dollar.
- There is a major contracting triangle forming with resistance at $1480 on the 4-hours chart of BCH/USD (data feed from Kraken).
- The pair might soon break the triangle resistance and trade above $1500 in the near term.
Bitcoin cash price is in an uptrend above $1200 against the US Dollar. BCH/USD might soon break $1500 for more gains toward $1800.
Bitcoin Cash Price Resistance
There was a slow and steady decline in bitcoin cash price from the $1780 swing low against the US Dollar. The price declined below the $1400 and $1300 support levels. However, the downside move found support near $1200 and later the price started moving higher. It has moved above the 38.2% Fib retracement level of the last decline from the $1780 high to $1203 low.
The current price action is positive and it seems like there is a major contracting triangle forming with resistance at $1480 on the 4-hours chart of BCH/USD. The triangle resistance is near the 50% Fib retracement level of the last decline from the $1780 high to $1203 low. Therefore, it would be interesting to see whether the price can break the $1450-1500 resistance or not. Should there be a break and close above $1450, the price could move further higher towards the $1700 and $1800 levels.
On the downside, an initial support is around the $1400 level and the 100 simple moving average (4-hours). Below the mentioned $1400, there is a crucial support around $1350 and the triangle. However, the most important trend support is close to the $1200 level in the near term.
Looking at the technical indicators:
4-hours MACD – The MACD for BCH/USD is slowly moving back in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level and is moving higher.
Major Support Level – $1350
Major Resistance Level – $1500
Charts courtesy – Trading View, Kraken
The post Bitcoin Cash Price Weekly Analysis – BCH/USD Reaching Breakout appeared first on NEWSBTC.
The US Federal Reserve issues a warning, urging that measures may need to be taken in the future to prevent financial instability if more money is invested in Bitcoin. The US Federal Reserve has issued a warning stating digital currencies, specifically Bitcoin, pose “financial stability risks.” The news preceded a 10% reduction in Bitcoin’s price… View Article
We are excited to announce that the ERC20 version of the YOYO token has been listed on Bitfinex, the world’s largest bitcoin exchange. The listing on Bitfinex enables YOYO token holders to trade against the USD, BTC, and ETH currencies. Qiang Liu, the founder of YOYOW, states: Listing YOYO token on Bitfinex is an important… View Article
Key Points Bitcoin price remains in a super bullish trend above $10,000 against the US Dollar. There are two bullish trend lines forming with supports at $10,300 and $9200 on the 4-hours chart of BTC/USD (data feed from SimpleFX). The pair is currently trading in a range above the $10,500 level and is preparing for… View Article
- Bitcoin price remains in a super bullish trend above $10,000 against the US Dollar.
- There are two bullish trend lines forming with supports at $10,300 and $9200 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
- The pair is currently trading in a range above the $10,500 level and is preparing for more gains.
Bitcoin price is very bullish above the $9500 level against the US Dollar. BTC/USD might soon break $11,200 for more gains in the near term.
Bitcoin Price Bullish Trend
It was an amazing week for bitcoin price as it moved above the $10,000 and $11,000 levels against the US Dollar. The upside move was very strong and the price traded as high as $11,386 before it faced sellers. The price corrected sharply lower, but downsides were limited by the $9000 level. There were strong bids near the mentioned level $9000, and the price recovered well.
It moved back above the $10,500 level and is currently trading around the $10,800 level. It seems like the price is consolidating and preparing for more gains above $11,000. Once there is a break above a bearish trend line at $11,200, there are chances of BTC moving past $11,400 in the near term. The next major target could be $12,000. On the downside, there are two bullish trend lines forming with supports at $10,300 and $9200 on the 4-hours chart of BTC/USD.
The second trend line is the most important above $9200 since it is near the 100 simple moving average (4-hours). As long as the price is above the $9000-10,000 levels, it remains in an uptrend. Upsides targets are $11,800 and $12,000 in the near term.
Looking at the technical indicators:
4-hours MACD – The MACD is placed nicely in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently well above the 50 level and is slowly moving higher.
Major Support Level – $9200
Major Resistance Level – $12000
Charts courtesy – SimpleFX
The post Bitcoin Price Weekly Analysis – BTC/USD Sights More Upsides appeared first on NEWSBTC.
Key Highlights ETH price after a dip found support near the $390 level and moved higher against the US Dollar. There is a crucial bullish trend line forming with support near $415 on the 4-hours chart of ETH/USD (data feed via SimpleFX). The pair might correct once again towards the trend line or $420, but… View Article
- ETH price after a dip found support near the $390 level and moved higher against the US Dollar.
- There is a crucial bullish trend line forming with support near $415 on the 4-hours chart of ETH/USD (data feed via SimpleFX).
- The pair might correct once again towards the trend line or $420, but downsides remain limited.
Ethereum price remains bullish against the US Dollar, but struggling against Bitcoin. ETH/USD might dip a few points, but remains supported.
Ethereum Price Trend
This past week was a roller coaster ride for ETH price as it traded above the $500 handle against the US Dollar. The price traded to a new all-time high at $513.75 before facing strong selling interest. There was a sharp decline and the price moved below the $500, $440 and $400 support levels. A low as formed near $390.00 from where the price started an upside move.
The downside move was mainly protected by a crucial bullish trend line with current support near $415 on the 4-hours chart of ETH/USD. Moreover, the $400 handle and the 100 simple moving average (4-hours) also acted as a strong support. The pair recovered and moved above the 50% Fib retracement level of the last decline from the $513.75 high to $390.74 low. The current price action is positive above the $440 level, but the pair is struggling near $466. The mentioned $466 level is the 61.8% Fib retracement level of the last decline from the $513.75 high to $390.74 low.
The pair is struggling to break the $466-470 levels. Therefore, there are chances of it declining once again towards $430 or the trend line support. However, downsides remain limited below $410 and the bullish trend remains intact for more gains.
4-hours MACD – The MACD is moving back from the bearish to bullish zone.
4-hours RSI – The RSI is currently just above the 50 level.
Major Support Level – $430
Major Resistance Level – $466
Charts courtesy – SimpleFX
The post Ethereum Price Weekly Analysis – ETH/USD Remains Bullish appeared first on NEWSBTC.
In their quest to gain supremacy in the cryptocurrency ecosystem, the Big Four accounting firms (Deloitte, EY, PwC, and KPMG) are focusing their strategies and shaping their services to better respond to their customers’ demands. And, as a testament to Bitcoin’s status as an increasingly mainstream financial asset, PwC is following EY’s lead in accepting… View Article
LONDON – Dec 2, 2017 – 4NEW, the company operating Waste to Energy treatment plants today announced a series of groundbreaking developments. 4NEW has successfully secured $30.5 million USD from institutional investors collectively. This enables 4NEW to complete its soft cap requirement facilitating the construction and realization of its first plant in its entirety. The realization of the plant ensures widespread adoption for its coin since consumers can start paying for their utility bills using the 4NEW services. Additionally, 4NEW has also received a number of mandates to beta test its timed blockchain payment system concept from a number businesses within multiple and diverse sectors. “Our business to business strategy is demonstrating great results. We anticipate widespread consumer adoption through users of these businesses in 2018” said Sandeep Golechha.
4NEW’s Initial Coin Offering (FRNC) for its utility token is currently underway for the general public ending December 15, 2017. While this coin does not provide investors any share of the corporate profits currently, given that it is strictly speaking a utility token which represents sale of future goods and services of 4NEW, nevertheless, it does offer holders of the coin an opportunity to avail various services such as global money transfer services, insurance payments, telemedicine services, online pharmacy services and Waste and Energy bill payment opportunities starting 2018.
4NEW management is looking forward to listing on premier public exchanges such as Bittrex, Poloniex, and Cryptopia in the coming weeks.
Earlier this month 4NEW ordered the production of its first Waste to Energy plant for a staggering USD $24.83 Million with delivery and subsequent installation of equipment to occur within 6 to 8 months between May and July 2018.
The first 4NEW plant will have a waste processing capacity of 72 tons per day of RDF, SRF, TDF, tires, plastics, medical waste, carpets, textiles, wood wastes, oil liquid waste, chemical waste, raw food packaging, animal by-products and any type of hazardous and non-hazardous waste.
The plant will be able to generate 120 megawatts of power per day which totals 43,800 megawatts of power per year. As part of the deal, 4NEW will also procure insurance coverage to secure its revenue from any equipment failure, or unforeseen acts of god.
The first plant will drive annual sales of approximately $5 Million USD under current capacity, however, 4NEW can add additional waste processing lines to their plant as additional funds are raised thereby increasing output by 4 times per site. 4NEW also has options with lenders to explore debt financing in order to complete targeted acquisitions over the next 6 to 9 months.
The plant equipment has been ordered through Eco-Green Power Limited, a UK based plant production company. Eco-Green currently has three sites where their plants are in operational use. These include 2 sites in Finland and 1 site in Denmark.
Last month, 4NEW successfully secured a $25 million round of funding from its first investor Mirach Capital Group, a US-based private equity fund.
4NEW, will revolutionize and standardize the industries of Waste and Energy by offering services as a wholesaler within the Utilities sector that is fully integrated onto a decentralized, distributed ledger enabling all actors within the industry to trade waste and energy transactions using the 4NEW Coins towards payments within the 4NEW ecosystem.
The 4NEW coins are utility tokens with built-in smart contract capabilities. They establish a binding relationship between two transacting parties and provide a value for each transaction. The ledger on the 4NEW ecosystem provides an immutable and audit-able journal of all transactions related to the buying and selling of energy and waste. Each transaction is transparent to all parties which allows them to see the same ledger entry and cost of reconciliation thus controlling issues of dispute and revenue leakage to a great extent.
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