Global oil prices are under pressure due to no resolution in sight regarding the US-China trade war, ultimately sapping demand for oil and weaker than expected economic data that came out of Europe on Thursday. As a result, U.S crude oil prices had their largest drop of the 2019 on Thurs, oil prices are now below $60 and oil price are at a three month low.
The Energy Select Sector SPDR® Fund seeks to provide an effective representation of the energy sector of the S&P 500 Index. The top holdings include:
Source
The SPDR Energy Select Sector ETF droppped 3.3% toward a 4
Bibox Token (Huobi: BIXUSDT) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Bibox Token began a wave one advance on February 3. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 3, and the red wave two (blue sub-waves a-b-c) correction ended on May 10. If this wave count is correct, Bibox Token should be heading next towards the April 3 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Bibox is an AI-enhanced encrypted digital asset exchange. SMC Capital interviewed the co-founder earlier this year.
Social media giant Facebook is set to roll out its own cryptocurrency dubbed “GlobalCoin” in 2020, according to a report from BBC.
The news outlet said on Friday that Facebook is planning to launch the cryptocurrency-based payments system in “a dozen countries” by the first quarter of 2020 and is looking to start trialing it by the end of this year.
More details about Facebook’s crypto plan are said to be revealed in the coming months, the report said. It further added Facebook had looked for advice from officials of the U.S. Treasury and the Bank of England governor Mark Carney regarding opportunities and regulatory issues for the initiative, which is internally referred to as “Project Libra.”
United States telecom and media giant AT&T now accepting cryptocurrency for paying phone bills online, according to an official press release on May 23. AT&T will process bills paid in cryptocurrency using crypto payments platform BitPay.
BitPay is a platform that converts cryptocurrencies to fiat and is used by over 20,000 businesses. AT&T is reportedly the first United States-based business in the wireless network industry to offer bill payments with BitPay. Kevin McDorman, vice president of AT&T Communications Finance Business Operations, said, “We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”.
Russia’s central bank will consider the use of a gold-backed cryptocurrency to facilitate international settlements, according to a Tass report.
Elvira Nabiullina, governor of the Bank of Russia, said Thursday that her institution is to review a proposal for the development of the cryptocurrency.
Nabiullina said at the nation’s lower house, or Duma: “As for mutual settlements, we will consider, of course, [the] proposal on … a gold-backed cryptocurrency. But, in my opinion, it is more important to develop settlements in national currencies,” she said at the State Duma.
An Indian supreme court advocate has shared some thoughts on the kind of cryptocurrency regulation India can benefit from. The right regulatory framework “would ensure transparency, oversight and accountability,” but a “one size fits all” regulation would be a mistake, she explains. Meanwhile, the Indian crypto community and industry bodies have urged the central bank to allow crypto businesses to participate in its new regulatory sandbox.
“Regulation would ensure transparency, oversight and accountability. The onus or burden on the government may be shifted to exchanges or other platforms offering virtual currencies or trading thereon.”
Individual investors will soon be able to invest in Grayscale Ethereum Trust, billed as “the first U.S. publicly quoted security solely invested in and deriving value from the price of ethereum.”
The Financial Industry Regulatory Authority (FINRA), Wall Street’s self-regulatory organization (SRO), has approved public quotation of shares in the trust, Grayscale Investments announced Thursday.
“All kinds of investors will be able to gain exposure to the price movement of ethereum without the challenges of buying, storing, and safekeeping ethereum,” wrote Marissa Arnold, a spokesperson for Grayscale, in an email to CoinDesk.
“Rebranding and Hardfork will be estimated approximately at 19.00 UTC on Friday May 24.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
We are still under the resistance line around 0.39$. We tested it several times these last day but till now, we are not able to break it more than some minutes. We could finish to have a correction to go test the support line at 0.33$ but I still have the hope that the BTC will continue its UP and that we could finish to break that resistance on the STEEM with that help. Let’s see what will do the BTC in the coming hours.
The chart is marked up already because I’m already short this pair:
Forex $1 MM Challenge – Trade #7 (3-25-19) Sold NZD/CAD
Lets zoom in for a closer look at the trade set-up.
An even closer look of the set-up.
What I like about the set-up is price based, meaning buyers and sellers were going to battle, until the sellers won as indicated by strong move away from the level and also took out previous demand to the left (purple circle). What I also like is the move back to the area was strong as well
Bitcoin price action has certainly been interesting the past week. After seeing price rally to an obvious resistance point and bounce off we saw a higher low created and then another run at the 8,300 area resistance only to back off again.
Gearing up or breaking down?
That’s the question right now. After failing to break the 8,300 area again price did not pull back much and is showing some green the past 24 hours.
Honestly we are floating in the middle right now with a 50/50 chance or going up or down.
Upside – price pushes higher from here and breaches 8,300 on
