Bitcoin Forex Forum | Forex Community Place
Bitcoin Forex Forum
Forex Community Place
Page 79 of 81 FirstFirst ... 29697778798081 LastLast
Results 781 to 790 of 808

Thread: Cryptocurrency Analysis

  1. #781 Collapse post
    Technical Analysis of BTC/USD for 14 September 2020

    Crypto Industry News:
    At a virtual conference hosted by the Brookings Institute, Andrew Bailey, Governor of the Bank of England (BoE), stressed that crypto assets are simply "inappropriate for the payment world."

    In his prepared comments on the future of cryptocurrencies and stablecoins, Bailey categorized Bitcoin as an asset that "has nothing to do with money." He has also shown hesitant to believe that crypto assets are a suitable investment opportunity as "their value can fluctuate quite, widely and unexpectedly."

    This is what Bailey made when he spoke of accelerating the pace of innovation in payments. However, in the case of stablecoins, the governor said it could offer some "useful benefits", such as reducing friction in payments, while warning:

    "If stablecoins are to be widely used as a means of payment, they must have standards equivalent to those currently in force for other forms of payment and money transfer through them."

    In June, UK-based L3COS submitted a proposal to the Bank of England (BoE) for a blockchain-based operating system that would power the digital currency issued by the central bank. In addition, in March, the BoE published an in-depth discussion on CBDC which analyzed the rapidly changing payment landscape and the potential role that CBDCs could play in supporting a bank's mandate to manage monetary and financial stability.


    Technical Market Outlook:
    The BTC/USD pair keeps hovering around the level of $10,000 again as this is very important psychological level for market participants. The market has been consolidating in a narrow range located between the levels of $9,825 - $10,586. The nearest technical resistance is seen at the level of $10,890 and $10,940 and the key short-term technical support is seen at the level of $9,922. The market conditions are oversold and the momentum remains neutral on H4 time frame chart. The weekly time frame trend remains up.

    Weekly Pivot Points:
    WR3 - $11,302
    WR2 - $10,908
    WR1 - $10,609

    Weekly Pivot - $10,206
    WS1 - $9,887
    WS2 - $9,466
    WS3 - $9,157


    Trading Recommendations:
    The weekly trend on the BTC/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. All the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $13,712. The key mid-term technical support is seen at the level of $10,000.

    b-s-140920.jpg



    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  2. InstaForex
  3. #782 Collapse post
    Technical Analysis of ETH/USD for 14 September 2020

    Crypto Industry News:
    Yearn Finance launched yETH vault earlier this week. The protocol attracted over 137,000 ETH on the very first day of its launch. YETH vault pays profits to those who have blocked their resources on the platform. They come from the profits generated by the bonus obtained from ETH blocked on various platforms.

    The ETH community has expressed concerns about the unusually large number of blocked ETH resources as the yETH protocol could theoretically control and lead to an unprecedented 51% attack on the Ethereum network.

    Vitalik Buterin commented on the whole situation, who replied that the risk associated with a 51% attack against the upcoming update is unjustified. In a tweet, he stated that someone could indeed attempt an attack, but would quickly lose control of the network as a result of the actions of other participants:

    "We need to get past the myth that it's * fatal * if one entity gets enough to 51% attack PoS. The reality is they could attack * once *, and then they either get slashed or (if censorship attack) soft-forked away and inactivity-leaked, and they lose their coins so can't attack again ".

    Concerns came days after Ethereum Classic experienced its third 51% attack in just one month. The security of this network has been heavily criticized and questioned since then.


    Technical Market Outlook:
    The ETH/USD pair has been moving up in an ascending channel towards the level of $388 where it was capped due to the upper channel line resistance level. The market had made a Bearish Engulfing candlestick pattern at this level and reversed towards the lower channel line. Currently, the market is consolidating in a narrow zone between the levels of $355.24 - $369.37 and due to the fact, that the last move inside the channel is corrective in nature, more weakness is expected in ETH/USD pair. The next technical support is seen at the level of $332.28 (outside of the channel). The key demand zone is seen between the levels of $305.20 - $321.95 and if violated, then the next key long term support is seen at the level of $288.

    Weekly Pivot Points:
    WR3 - $460.14
    WR2 - $422.13
    WR1 - $395.03

    Weekly Pivot - $357.60
    WS1 - $326.67
    WS2 - $291.16
    WS3 - $261.17


    Trading Recommendations:
    The weekly and monthly time frame trend on the ETH/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. The key mid-term technical support, seen at the level of $364.95 had been violated, but all the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $500.

    e-s-140920.jpg



    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  4. #783 Collapse post
    BTC analysis for September 14,.2020 - Breakout of the rising channel in the background and potential for test of $9.140 and $8.400

    Further Development

    b-p-140920.jpg

    Analyzing the current trading chart of BTC, I found that there is no change since my last analysis and I still expect another downside movement towards the $9,135 and $8,400.

    There is the breakout of the rising channel in the background and I see the current rally like the re-test phase after the downside breakout, which is another confirmation for the downside continuation.

    Watch for selling opportunities on the rallies...


    Key Levels:

    Resistance: $11,000

    Support level: $9,135 and $8,40


    s_jacimovic.png
    Performed by Petar Jacimovic
    0Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  5. #784 Collapse post
    Technical Analysis of BTC/USD for 15 September 2020

    Crypto Industry News:
    Bitcoin enthusiasts in Hong Kong have come up with a new way to raise public awareness of Bitcoin on a large scale.

    Starting from September 11, three double-decker trams decorated with the BTC logo began to run on the streets of Hong Kong. Each of them, apart from the Bitcoin logo, contains a certain message whose task is to educate the public.

    Earlier in August, the well-known hedge fund Grayscale also launched a massive educational campaign on Bitcoin in the US.

    As part of an educational campaign launched by the Bitcoin Association of Hong Kong, 20 giant billboards will also be created in various public places. The trams themselves will be entirely decorated with the BTC logo and will run on different routes for the next four weeks.

    The campaign focuses in part on communicating the importance of the deficit phenomenon and how it relates to healthy monetary policy. One of the billboards refers to the American money printing in 2020. We can read on it:

    "More U.S. dollars have been printed in 2020 than were in existence in 2009. There will only ever be 21 million Bitcoins. "

    A publication that foreshadowed the event in a well-known local newspaper said the cryptocurrency community hoped to initiate a conversation about what role cryptocurrency could play in providing economic infrastructure for a new, rapidly digitizing global market.


    Technical Market Outlook:
    The BTC/USD pair has broken out from the narrow range located between the levels of $9,825 - $10,586 and made a new local high at the level of $10,779. The nearest technical resistance is seen at the level of $10,890 and $10,940 and the key short-term technical support is seen at the level of $9,922. The market conditions are oversold and the momentum remains neutral on H4 time frame chart. The weekly time frame trend remains up.

    Weekly Pivot Points:
    WR3 - $11,302
    WR2 - $10,908
    WR1 - $10,609

    Weekly Pivot - $10,206
    WS1 - $9,887
    WS2 - $9,466
    WS3 - $9,157


    Trading Recommendations:
    The weekly trend on the BTC/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. All the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $13,712. The key mid-term technical support is seen at the level of $10,000.

    b-s-150920.jpg



    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  6. #785 Collapse post
    Technical Analysis of ETH/USD for 15 September 2020

    Crypto Industry News:
    DeFi Swap is now available on the Ethereum network and offers many interesting features that can be useful to cryptocurrency users:

    Swap: Users can trade any two supported tokens after paying an exchange fee of 0.3%;

    Pool: each pool consists of the reserves of two ERC-20 tokens and issues an ERC-20 token as proof of proportional possession of the underlying reserves;

    Boost: allows you to increase profits in the CRO DeFi;

    APY: Liquidity Providers (LPs) can estimate their profit in the CRO DeFi;

    Analytics: Users can analyze DeFi Swap CRO protocol token / pair data including liquidity, trading volume etc.

    Liquidity providers (LP) will be rewarded with a share of the collected 0.3% trading volume in the relevant liquidity pools. They can also stake CROs to increase their profits (up to 20x).

    The service is not available to residents and citizens of the following markets: United States, Hong Kong, Singapore, Afghanistan, Bangladesh, Bolivia, Burundi, Central African Republic, Crimea Region, Cuba, Congo, Dem. Rep. Ecuado, r Eritrea, Guinea, Republic of Guinea, Bissau, Hong Kong, SAR, Iran, Iraq, Kyrgyzstan, Lebanon, Libya, Mainland China, Mali, Burma, (Myanmar) Namibia, Nepal, North Korea, Singapore, Somalia, Sudan, Sudan South, Syria, Venezuela, Yemen, Zimbabwe.


    Technical Market Outlook:
    The ETH/USD pair keeps trading inside of the ascending channel and it was recently capped around the level of $388 due to the upper channel line resistance level. The market had made a Bearish Engulfing candlestick pattern at this level and reversed towards the lower channel line. Currently, the market is consolidating in a narrow zone between the levels of $355.24 - $369.37 and due to the fact, that the last move inside the channel is corrective in nature, more weakness is expected in ETH/USD pair. The next technical support is seen at the level of $332.28 (outside of the channel). The key demand zone is seen between the levels of $305.20 - $321.95 and if violated, then the next key long term support is seen at the level of $288.

    Weekly Pivot Points:
    WR3 - $460.14
    WR2 - $422.13
    WR1 - $395.03

    Weekly Pivot - $357.60
    WS1 - $326.67
    WS2 - $291.16
    WS3 - $261.17


    Trading Recommendations:
    The weekly and monthly time frame trend on the ETH/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. The key mid-term technical support, seen at the level of $364.95 had been violated, but all the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $500.

    e-s-150920.jpg


    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  7. #786 Collapse post
    BTC analysis for September 15,.2020 - Key level around the price $11.000 is on the test. Watch carefully price action around it...

    Further Development

    b-p-150920.jpg

    Analyzing the current trading chart of BTC, I found that BTC is trading near very important pivot level at $11,000.

    Key Pivot level: $11,000



    s_jacimovic.png
    Performed by Petar Jacimovic
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  8. #787 Collapse post
    Technical Analysis of ETH/USD for 16 September 2020

    Crypto Industry News:
    The Swiss arm of Russia's largest bank is researching the blockchain-based trade finance process.

    Sberbank Switzerland AG, a subsidiary of Russia's largest bank, Sberbank, has just signed an agreement with the Swiss trade finance platform Komgo. The cooperation between the two entities is to involve the use of a trade financing service based on blockchain technology.

    Sberbank Switzerland AG told the media that the collaboration with Komgo was about "the increasing digitization of trade finance".

    Evgeny Kravchenko, head of trade finance at Sberbank, emphasized that trade finance is a strategic activity of Sberbank Switzerland AG. According to the director, Russia and the Commonwealth of Independent States are the company's key markets. He added that Sberbank Switzerland AG also handles trade flows worldwide.

    "In recent years, the digitization of trade finance has accelerated rapidly, in line with the needs of market players" - said Kravchenko, adding that trade financing by Komgo will further increase the effectiveness of Sberbank's operations.

    It is worth recalling that Komgo is an innovative startup dealing with trade finance, which is developing a platform for financing trade in goods based on the Ethereum blockchain. One of its goals is to accelerate trade finance transactions as well as allowing interested parties to track the transaction.


    Technical Market Outlook:
    The ETH/USD pair has been testing the lower channel line around the level of $355.24 after the price had made a Bearish Engulfing candlestick pattern at the level of $389.91 and reversed lower. Currently, the market is consolidating in a narrow zone between the levels of $355.24 - $369.37 and due to the fact, that the last move inside the channel is corrective in nature, more weakness is expected in ETH/USD pair. The next technical support is seen at the level of $332.28 (outside of the channel). The key demand zone is seen between the levels of $305.20 - $321.95 and if violated, then the next key long term support is seen at the level of $288.

    Weekly Pivot Points:
    WR3 - $460.14
    WR2 - $422.13
    WR1 - $395.03

    Weekly Pivot - $357.60
    WS1 - $326.67
    WS2 - $291.16
    WS3 - $261.17


    Trading Recommendations:
    The weekly and monthly time frame trend on the ETH/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. The key mid-term technical support, seen at the level of $364.95 had been violated, but all the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $500.

    e-s-160920.jpg



    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  9. #788 Collapse post
    Technical Analysis of BTC/USD for 16 September 2020

    Crypto Industry News:
    According to Chainalysis, bitcoins are sent to exchanges, but they don't find a place in their order books. This would mean that market participants send their cryptocurrency to exchanges to sell it, but are not yet blocking it on orders. Instead, they wait for the price to rise.

    Trading intensity analyzes two variants of stock market data. It is about the number of BTC in the order books of the exchange in relation to the number of coins sent to the exchanges. A high value for trade intensity would mean that many BTC orders are placed on exchanges for a small amount of bitcoins sent to exchanges, while a low value for trade intensity would indicate otherwise. At the time of writing this publication, the median BTC trading intensity was 2.13. This is the lowest level in a year.

    Chainalysis data also suggests that the BTC value sent to exchanges is quite high at the moment. According to Chainalysis data, there has been a change of 26.36 BTC in bitcoin held on exchanges, which is not only positive but above the 180-day average. Hence, from the point of view of trading intensity, this makes the number of BTC in exchange order books low or relatively lower than the increase in the number of bitcoins stored on exchanges.

    Looking at it in the context of a price scenario can reveal where market participants expect the next price increase. Since a large number of bitcoins are traded on exchanges but have not yet been sold or placed to place an order, the breeder and trader expect the price to rise. When the price rises as there are more inflows to the exchanges than the payouts, a selling frenzy would ensue.

    Market Participants therefore seem to be waiting for prices to rise to their preferred level in order to start their sell orders and cash in their profits. However, this may prove to be a problem when prices rise significantly.


    Technical Market Outlook:
    The BTC/USD pair has made a new local high at the level of $10,883 recently, but it does not look like the bulls want to continue the rally as the momentum had decreased significantly. If there is no breakout higher in the coming days, then the market might be moving sideways for some time and event reverse again. The nearest technical resistance is seen at the level of $10,890 and $10,940 and the key short-term technical support is seen at the level of $9,922. The weekly time frame trend remains up.

    Weekly Pivot Points:
    WR3 - $11,302
    WR2 - $10,908
    WR1 - $10,609

    Weekly Pivot - $10,206
    WS1 - $9,887
    WS2 - $9,466
    WS3 - $9,157


    Trading Recommendations:
    The weekly trend on the BTC/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. All the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $13,712. The key mid-term technical support is seen at the level of $10,000.

    b-s-160920.jpg



    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  10. #789 Collapse post
    BTC analysis for September 16,.2020 - Watch for selling opportunities due to lack of buyers and strong resistance

    Further Development

    b-p-170920.jpg

    Analyzing the current trading chart of BTC, I found that there is potential for the downside movement again towards the $9,700.

    Key pivot resistance is set at the price of $11,150. I would watch for selling opportunities on the rallies with the downside target at $9,710

    Additionally, there is divergence on the Stochastic oscillator, which is good sign that buyers are losing power.


    Key Levels:

    Resistance: $11,150

    Support levels: $9,710




    s_jacimovic.png
    Performed by Petar Jacimovic
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


  11. #790 Collapse post
    Technical Analysis of BTC/USD for 17 September 2020

    Crypto Industry News:
    Robert Kiyosaki calls the United States "bankrupt" because the country's public debt is $ 27 trillion, while listing Bitcoin as one of the top three long-term investments. The author of "Rich Dad Poor Dad" also predicts that when the world finds an effective vaccine against the coronavirus, Bitcoin will collapse.

    In a tweet yesterday, Kiyosaki warned that the functional solution for Covid-19 would destroy the so-called Safe assets. Continuing, Kiyosaki argued that the virus masks "real" problems, particularly in the US economy. The country, with $ 26.7 trillion in debt according to the US National Debt Clock's monitoring resources, most of which came from stimulus measures since the Covid-19 hit, is now "bankrupt."

    The argument for long-term investment in Bitcoin has become increasingly public since the asset market crash in March. Despite its current strength, the US dollar is widely viewed as in a downturn that will only worsen thanks to the Federal Reserve's policies also purported to counter the effects of the coronavirus.

    The weakness of the US dollar index has pushed Bitcoin and gold up in recent months, highlighting the inverse correlation that remains the main factor for investors to consider.


    Technical Market Outlook:
    The BTC/USD pair has made a new local high at the level of $11,043 recently, but the rally was capped at this level. The zone located between the levels of $11,062 - $11,222 is the supply zone. If there is no breakout higher above this zone in the coming days, then the market might be moving sideways for some time and event reverse again. The nearest technical resistance is seen at the level of $10,890 and $10,940 and the key short-term technical support is seen at the level of $9,922. The weekly time frame trend remains up.

    Weekly Pivot Points:
    WR3 - $11,302
    WR2 - $10,908
    WR1 - $10,609

    Weekly Pivot - $10,206
    WS1 - $9,887
    WS2 - $9,466
    WS3 - $9,157


    Trading Recommendations:
    The weekly trend on the BTC/USD pair remains up and there are no signs of trend reversal, so buy orders are preferred in the mid-term. All the dynamic corrections are still being used to buy the dips. The next mid-term target for bulls is seen at the level of $13,712. The key mid-term technical support is seen at the level of $10,000.

    b-s-170920.jpg



    s_seliga.png
    Performed by Sebastian Seliga
    Analytical expert
    InstaForex Group © 2007-2020

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Earn up to
$50 000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
Start trading without
any investments and risks
WITH NEW STARTUP
BONUS 1000$
GET BONUS
55%
from InstaForex
on every deposit