In my last update, I told you bitcoin had reached a decision point. It was pushed up against 3 areas of major resistance with a fair amount of volume. A breakout was clear, it was only a matter of direction.
Earlier today, bitcoin finally broke above the $4,120 resistance, reaching new 2019 highs. It did so with a major surge in volume…the likes of which we haven’t seen since January of 2018. Bitcoin finally found resistance just below the 0.618 fib level measured off the prior $6K breakdown in 2018.
This nearly $1K move happened in under an hour. There’s no question
With bitcoin’s move today to 4.5-month highs near $5,080, the transition from bear to bull market appears done and dusted.
The trend change would gain credence, though, if and when BTC finds acceptance above the former support-turned-resistance of the 21-month exponential moving average (EMA), currently at $5,200.
The cryptocurrency is looking overbought as per the 14-day relative strength index, so prices may have a tough time breaking above $5,200 in the near-term.
Bitcoin could see a pullback to $4,400 if signs of bullish exhaustion increase in the next few days.
There’s a new animated series called “Bitcoin and Friends” that’s been making its rounds across the web after the first episode was released by Uncle Chris Productions. The humorous and sometimes raunchy cartoon is an eight-part series that aims to make people laugh during the depressing bear market and the crypto saltiness on social media.
On March 29, Uncle Chris Productions released the first episode of an eight-part series that encapsulates the life of a lonely bitcoin in search of his lost father. The show “Bitcoin and Friends” stars “B,” a bitcoin who finds himself in a hospital and starts an adventure to find out who he is and who created him. Along the way, B finds some quirky friends in the first episode, called “Tears of a Clown”, whose storyline is based in New Jersey back in 2009.
An exchange-traded product (ETP) tracking the price of the XRP cryptocurrency has gone live on Switzerland’s primary stock exchange SIX.
Amun AG, the maker of the product, announced the news on Tuesday, saying that the XRP ETP had started trading on the exchange under the ticker symbol AXRP.
The firm first revealed it would launch an XRP ETP last month. Hany Rashwan, co-founder and CEO of Amun AG told CoinDesk at the time that his firm already had an approval in place from SIX to issue the product.
With today’s launch, Amun AG now has a total of four cryptocurrency ETP products listed on the SIX exchange. Last month, the firm launched an ethereum (ETH)-based ETP (AETH). The month prior a bitcoin (BTC)-based ETP (ABTC) went live, and the firm launched the Amun Crypto Basket Index ETP under the ticker symbol HODL in November.
Puerto Rico-based cryptocurrency trading platform San Juan Mercantile Exchange (SJMX) has launched banking operations via a new subsidiary, the company announced in a press release on April 2.
SJMX, which exists as a membership-based exchange for digital asset traders, is seeking to expand the scope of its operations for institutional investors.
The new venture, dubbed San Juan Mercantile Bank & Trust International (SJMBT), received a banking license from Puerto Rican regulators last month.
The government of Pakistan will soon release draft regulations for financial institutions that wish to provide services related to <abbr title="
A digital store of monetary value the primary use of which is for buying and selling goods, services, or property, such as Ether or bitcoin. Cryptocurrencies are cryptographically secured against counterfeit and often are not issued or controlled by any centralized authority.
“>cryptocurrency and other digital assets, according to local English-language news outlet The Express Tribune.
Citing sources in Pakistan’s ministry of finance, the article states that a ceremony to introduce the new regulations is being held today, April 1, at the Islamabad office of the State Bank of Pakistan (SBP). According to Pakistan’s finance minister, who attended the meeting, the Pakistani government is committed to transforming the country into a knowledge-based economy. It believes that information technology will help create more jobs and develop “world-class knowledge workers in sync with international market trends.”
To this point, the finance minister said, “It is our government’s policy to encourage the use of e-commerce amongst [the] public through awareness campaigns to promote a culture of e-commerce in the country, which supports electronic business transactions at national, regional and international levels.”
“ZB.com will list Grin/QC and Grin/UDST for trading at 2019/04/02 14:00 (UTC+8).”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
Today again, STEEM is correcting while the BTC is increasing. So we are again in the middle of the 2 lines and we need to see which line the market want go test. Perhaps we are just taking some distance to go test again the resistance line at 0.49$ or the STEEM want do a bigger correct and we will go test the support line at 0.43$
Been talking about how this Spike would come, Let’s Ride!
Much of Crypto is up more than 8% this morning. Bitcoin has spike Huge off the resistance break. Litecoin continues to show strength and is spiking big. EOS is running into resistance and closing in on a spot where it could slow down. Hopefully it blows through!
I have been bullish crypto pretty much all of 2019 and I am even more bullish today. Every day another ALT coin is breaking higher out of the rounding bottom and the news is ignoring. This is GREAT NEWS (lol) actually. Below you can see both Monero and Zcash breaking up to new highs.
Bitcoin is next folks. Just look at this rounding bottom. I love finding these and the media not talking about it. Strap on the seat belts boys and girls!
Again we are in another decisive moment, BITCOIN is reaching the latest High around 4200 USD.
Everyone
is focused on this level since it represents the expected moment to
tackle with in order to know if the market is under the power of BULLS
or still under the domination of the BEARS.
Two options
can be predicted as more likely among others, one for each one of the
“fighters” however, what I see here is, anyway, a Positive reading of
the market today.
1st Option, for longs:
After having touched the bottom, BITCOIN has completed 2 Waves and is building the 3rd up:
After a general climb of nearly eight weeks, Bitcoin has finally reached the “GO / NO GO” point.
A “GO” situation means that BTC will break free from the current pattern – a converging triangle – and reach new 2019 highs. This would be the real beginning of the next bull market.
A “NO GO” situation means that BTC will bounce off resistance in the $4150 to $4200 region and return to lower levels of between $3720 and $3600.
On the charts below, the white lines are the upper and lower borders of the tapering triangle. The yellow lines are previous price movements
Bitcoin has been putting in higher lows over the last couple of weeks and months. We are approaching 3 month highs and building a triangle with higher lows pressing against 4200 Resistance.
This is beyond obvious (as long as the price action remains the same) this results in a bust through the resistance level. Stay the course here. I am expecting crypto to start making some big moves across the entire sector in the coming weeks. Litecoin and EOS have led the troops, it’s now time to extend it and many catch up!
In recent days Bitcoin has creeped up toward the top of the trading range that it’s been stuck in for many months now.
Being we saw several alts level up in the past month it is easy to get excited that maybe, just maybe bitcoin will now do the same.
Looking at the chart things are a bit quiet though with volume rather light. It will probably take a wave of buyers to come in and push this thing, where that comes from I am not sure.
Either way price is flirting with the opening/closing price highs that we have seen twice this
The Korean exchange has been hacked for over 3million EOS and an amount I do not know of XRP (because I don’t care about XRP). This happened a little over 14 hours ago…and EOS is just not selling off.
With that said, this sell off will likely be Blamed on the hacking of BITHUMB because the media always needs a story. I am here to tell you that this is great news! Why? Well we now have a catalyst for a sell off and we can ASSESS the selloff. Does EOS hold and rip back to highs? My gut says yes!
Twitter just put in place an inside week to end the month. The charts are looking very constructive and if TWTR is able to clear $34 with authority we are running to $40+. The man behind $SQ is the man behind $TWTR. If I believe in him then I believe in Twitter.
Twitter is the best most informational (centralized) social media out there and quite frankly all the others are mostly worthless IMO. I am seeing a major rounding bottom and if $34 gives on volume….the rocket ship has left the building…
