Bitcoin is finally testing heavy resistance between $4,000 and $4,120 (Coinbase). A decisive break above could signal the start of at least a temporary bull run, while another strong rejection may lead to lower lows.
The daily RSI is looking bullish. There was strong resistance at 53.5 for months. That resistance appears to now be acting as support.
Shorts remain stacked while longs are relatively unchanged.
Looking at the daily chart, we can see the 8 day EMA remains on top of the 21 which is on top of the 55 day EMA. They’re starting to fan out which is bullish. This signals
Bitcoin rose out of the wedge it had been consolidating in over the past month. It’s now hitting resistance at $3,900.
Just prior to the decisive break out, market makers ran a stop hunt that pushed price up to $3,905 and back down to $3,775 before returning to baseline. This happened in under 30 mins.
As price has been on a slow uptick, shorts have been stacking.
Looking at the daily chart, we can see the Bollinger bands are starting to bottleneck.
In today’s analysis I discuss, key areas to watch, traps to avoid and so much more. I hope you find it helpful.
I thought it was happen again as it has happened in the past. Litecoin is leading the crypto sphere off the lows flagging towards highs. In fact all of the crypto’s are flagging I like to watch except Litecoin is already near the prior highs. This is HUGE for the crypto space right now. With the mainstream media completely ignoring (finally) the asset class and enough time has passed we can have a crushing run here. This is not the time to be powering down, this is the time to buy the piss out of these crypto’s
Cosmos, a highly anticipated blockchain itself designed to improve the interoperability between any number of other blockchains, has officially released a live software.
With the mining of its first block at 23:00 UTC, the project has launched Cosmos Hub, the first in a series of proof-of-stake (PoS) blockchains that will be created in the Cosmos ecosystem.
At present, users of the network will not be able to swap tokens between blockchains or otherwise connect to Cosmos Hub with existing blockchain networks until validators officially vote to activate what is called the Inter-Blockchain Communication (IBC) protocol.
Bitcoin’s daily trading volume remains elevated at highs above $10 billion, going against the technical theory that investor interest tends to drop during periods of consolidation. Therefore, the ongoing sideways trading near $3,900 may end with a bull breakout toward the recent high of $4,20
Trading volumes have been strong since the corrective rally kicked off in early February, so a range breakdown looks unlikely.
Prices could first see a drop below $3,865 (March 12 low) due to the extended consolidation. That said, the short-term outlook would turn bearish only if the higher low of $3,743 created on March 3 is breached
More or less decentralized? For Jimmy Song, there’s no in between.
An author and partner at venture firm Blockchain Capital, Song made that point repeatedly in a debate with IBM engineer and Hyperledger Fabric co-lead Chris Ferris at SXSW Thursday, where he told the crowd at the Hilton Austin in no uncertain terms: “You either have control over your stuff or you don’t. It’s a zero or a one.”
The debate pitted permissioned blockchains – the private networks being pitched to big business – against permissionless blockchains – the technology undergirding bitcoin and other open-source networks. Billed as a “deathmatch” on the festival agenda, Song was determined to give the audience what they came for.
The Chicago Board Options Exchange (CBOE) will not add a new Bitcoin (BTC) futures market in March, the firm said in a statement on March 14.
Per the statement, CBOE is re-evaluating how it approaches trading digital assets. CBOE said:
“CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019. CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.”
French commercial court clerks will use a blockchain-based platform to record changes in companies’ legal status within the country. The development was revealed in an official announcement on March 14.
The blockchain network was jointly developed by IBM and the National Council of Clerks (NCC) and will reportedly be deployed starting in 2019 by the clerks operating in commercial courts across France. The blockchain platform is built on the Hyperledger Fabric framework and aims to increase transparency and efficiency in legal transactions associated with the lifecycle of companies in the registry.
MITH holders receive the number of MCX tokens equivalent to 10% of their MITH.
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
As you can see, we broke the support line around 0.49$. However, look the last candles, these candles could be an indicator of reversal and if it is the case, we will go back quickly upper than the support line again. It is a possible scenario as we had many bearish traps these last week. The second scenario is a touch (pull back) on the support line before the continuation of the drop. Let’s see 😉
Calling top are one of the hardest market things to do. 90% of people get them wrong over and over again calling The Top, but i question this…did BA just top. I’m talking top for a very long time? No one thinks it can happen. You saw the buying in this dip the past couple days. Can it happen? Let’s take a look…
Yes, it 100% can happen. What does this look like? It looks like a bubble. It’s the same chart that all the crypto haters saw in December of 2018. You know when they called crypto trash? Well BA
Pulling up charts I see a shakeout earlier and now the assets are rising. They all look like they are going to go. $ETH $LTC $EOS $BAT $NEO $XMR. It all looks good. I think we are about to get a ripper here.
A long, long time ago (8 months – which is like 8 years in crypto terms) I wrote this post on Steemit: https://steemit.com/cryptocurrency/@bitbrain/investing-in-crypto-is-too-close-to-gambling
In it I complained that outsiders see crypto investing as gambling, but then went on to say that:
“Since we’re being accused of it, we might as well be guilty of it!”
I think that it’s time to be guilty of it again…
Let’s Gamble!
(again)
From https://www.maxpixel.net/Gambling-Game-Bank-Game-Casino-Profit-Roulette-1253622, shared under the CC0 1.0 license
Here is how this works:
The prize is the same as last year’s – simply the most enviable prize in all of the known cryptoverse. If you beat me, and it’s a big “IF” then you
In recent market action, BTC shorts have increased by 20% during the last two weeks, while longs have continued to slide for the fourth straight week to consistently post lower lows for 2019 so far. In other markets, ETH shorts have dropped by nearly 50% while longs have pushed into new all-time highs, and LTC shorts and longs alike have recently tested all-time high resistance.
Ethereum (ETH) long positions have experienced significant volatility in recent weeks, with positions falling roughly 15% in two days after posting a new all-time high of approximately 531,000 on Feb. 24. Since Feb. 28, longs have nearly completely recovered, gaining 18% in two days to currently sit at approximately 521,000.
Tether has updated the terms on its website, saying that its dollar-pegged USDT stablecoin may not be backed 100 percent by fiat reserves. The new text states that while its stablecoin is 100 percent backed, its reserves may at times include other assets.
The website reads:
“Every tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”)”.
The Stellar lumen has just become the latest cryptocurrency to be listed on Coinbase’s professional exchange.
Coinbase Pro announced Wednesday that it was accepting deposits of XLM, with trading support coming once sufficient liquidity is established. The process will take a minimum of 12 hours, according to a blog post.
The cryptocurrency is not yet available on Coinbase’s retail platforms, including coinbase.com or its Android and iOS apps.
Major Spanishstock market operator Bolsas y Mercados Españoles (BME) has completed its first blockchain pilot for electronic certificates of collateral pledges, according to an official press release published on March 15.
Implemented along with Renta 4 Banco, which is the only investment services firm listed on the BME, the new pilot intends to eliminate the use of physical certifications by digitizing all processes and providing network participants with real-time access to data.
Best-known internationally as the chief executive of the blockchain smartphone startup Sirin Labs, Moshe Hogeg is becoming known for something else in Israel – mounting lawsuits.
As reported extensively by regional news outlets, a lawsuit filed in January claims Hogeg misappropriated funds from the sale of new cryptocurrencies for both his own gain and to benefit his investment portfolio, including Sirin Labs. The judge has reportedly given Hogeg until March 15 to settle with the plaintiff, Chinese investor Zhewen Hu.
“ETN/BTC and ETN/ETH trading will be available from 15:00, March 14, 2019 (GMT+8).”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
Yesterday, I was saying you that we must have a bounce from the support line in blue and hopefully it happened. We are now going in direction of the previous Top around 0.56$. This is the next objective to reach in order to start again to do new highs. The STEEM is in a UP trend the last weeks and even if it is normal to have some corrections, it looks like the market is much more positive than back. Enjoy !
Basic Attention Token is one of my top 5 favorite tokens in crypto. I am a huge fan of jumping on the bandwagon and “believing in successful people”. Why would you not bet on Steve Jobs? Why would you not bet on Elon Musk? Why would you not bet on Jack Dorsey? This is the same for in the crypto world.
Why would you not bet on Dan Larimer? And why would you not bet on the guy who invented JavaScript and cofounder Mozilla Firefox? Well that is the CEO of Basic Attention Token and the BRAVE Browser. I love
Bitcoin continues consolidating within a wedge just above the $3,800 support. As it approaches the apex we should expect a larger move in the next 48 hours or so.
EOS is also consolidating within a wedge. Like bitcoin, it’s approaching the apex suggesting a larger move should be expected.
In todays analysis I discuss where prices may be heading next, traps to avoid and so much more. I hope you find it helpful.
Video Analysis:
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
