Litecoin has been interesting in recent moves. It went from leading the market before the bitcoin breakout to kind of being a bit quiet in the past weeks (relative to the BTC and ETH moves) and now just when it looked like things were just muddling along we get a noticeable move today.
Thoughts of a Bullish Break flooding back in
If you look at the chart price consolidated after pulling back from the run at the 108 area. The initial bounce following that pullback was short lived and things looked like they may turn lower or just muddle along sideways but
Bitcoin continues to consolidate within what looks like larger wedge. Price is testing the upper resistance of that wedge, threatening a breakout.
Many altcoins are starting to move. In today’s video I analyze Bitcoin, EOS, BNB, LTC, BAT, ETH and XRP. I discuss where prices may be heading next, key areas to watch and so much more. I hope you find it helpful.
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing
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.
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
As I looked at one final BTC chart before heading to bed last night, I thought to myself: “Dip coming – I’ll check it out tomorrow”.
Well, it’s tomorrow now.
Of course one of the first things I did this morning was to check the BTC chart, and frankly I was a little disappointed. You call that a dip BTC? That’s pathetic! How am I supposed to buy that! I regarded it as a non-event and ate my breakfast, thinking nothing more of it.
That is… until I sat down at my PC 10 minutes ago and opened a larger version of the
The bears went on offense today, slapping price down from $8,000 to known support at $7,500. Bulls were able to successfully defend this support for now as buyers stepped in and pushed price back up to $7,700. Bitcoin currently is trading around $7,660. It’s approaching the apex of a larger wedge. Daily volume remains relatively strong, just above $24 billion. This suggests a larger move is likely to come in the next few days.
In today’s video I discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.
Alts are still cheap and I’m still buying! The time has come to be selective with what you buy: some altcoins have already shot up in price. Being a value investor, I try to pick the coins that represent the best deal at the time. Of course what I’m really saying is “Buy Low, Sell High”, but I’m always amazed at how difficult it seems for many people to do that, especially the “Buy Low” part! Well, I’ve done my best to buy low and I’d like to show you what I’ve considered worthy of buying this time.
Bitcoin has held above $7,500 for 3 days now. We’re starting to see price get squeezed with lower highs and higher lows. It looks like we may see a larger move in the next 3-6 days. The weekly chart looks extremely extended. A decisive break below $7,500, could usher in a the larger correction many are waiting for.
Zooming in on the 4 hour chart, things are a little less clear. I can certainly make an argument for a short term break above the prior swing high. In addition to a tightening range (which could break either way), we’re starting to
For quite some time I have been monitoring the wash trading situation in crypto.
For those of you who may not be aware, wash trading is rampant in the crypto world. Unscrupulous exchanges do everything in their power to look a lot busier than what they are, ultimately hoping to make more money for themselves in the process. This isn’t a lesson about wash trading, if you want to know more about that then I’m sure you know where to find Google.
Today I want to tell you about CoinGecko. A meant to do this a week ago when it (I’ll tell
Does something count as a rally if it doesn’t breakout above it’s nearest resistance level?
The Alt Rally That Wasn’t?
So after BTC ripped we did see a small alt rally, especially in the larger cap coins like ETH, LTC, EOS and even XRP.
All of these coins pushed higher out of the ranges they had been stuck in. Unfortunately STEEM did not do the same.
Looking at the chart in the post you can see we saw a little price rally for a few days that tested the 40 cents resistance area only to get smacked down.
Disappointing indeed, but atleast it made a