Following the last events that sparked a major fall in Bitcoin and the other major Cryptos as well, we can see that opportunities are more probable now for the bears.
We can take this opportunity of the Bear bias to enhance our confidence to invest in the popular coins with some very tasty results.
If we take these opportunities now we may see some huge volatility but following the smart money we can take some correct and profitable decisions.
Bitcoin continued to fall on Wednesday, now the world’s largest digital coin tumbled to its lowest level since February.
Bitcoin lost more than 50% in 2018 and went, down from a record high of $19,511 it hit in December.
Kyle Samani, managing partner at Austin, Texas-based crypto hedge fund Multicoin Capital, said “I don’t think this is driven on any particular news, just the general downtrend after the 2017 run,”
“A lot of people who bought at $9,000 in April are realizing that they’re not going to break even anytime soon, and are instead trying to get out.”
Ethereum: fell 5.9% at $496.2 on the Bitfinex exchange.
Bitcoin: was at $6,553.4 around 12:00 AM on the Bitfinex exchange, went down about 4% over the last 24 hours.
Ripple’s token: slide down 5.4% to $0.55448 on the Poloniex exchange.
BTCUSD: Technical Analysis
If we examine the technical aspect of the Bitcoin based on the Ichimoku system we can clearly see that a new Kumo breakout signal is in a development.
A strong level of support could be considered in the combination of Tekan sen and Kijun sen lines with the 38.2% Fibonacci level that stopped the price to go further up.
Following that, the price broke through the thin cloud and it is trading lower.
Now before we start looking for any potential bearish signals we want to see the last element that a Kumo breakout signal could be considered valid and that is if the chikou span trades below the cloud as well.
ETHUSD : Technical Analysis
The Ethereum seem to be in bear mode also, here the price is below the cloud Tekan sen and Kijun sen lines are below the Kumo and seem to be in a bear formation. The Chikou span is below the price and Kumo. With that, we may confirm a Valid Kumo breakout.
Before we can spot any potential bearish signals we need to see the price bounce on the Kijun sen that is also a 38.2 Fibonacci Level.
Ripple’s token: Technical Analysis
A very similar picture here with the Ripple, price trades below Kumo cloud Tekan sen and Kijun sen seem to be in a bear formation and below Kumo cloud as well.
Chikou Span is below the price and cloud as well giving us the last element to consider a Valid Kumo breakout.
As well here we need the price to bounce on the Kijun Sen line to be able to consider a short signal valid.
These 3 coins are in line with the external factors that affect the Cryptos and those factors are clearly applied on the chart.
The bias seems short based on the external factors and the technical as well based on the Popular Japanese system Ichimoku Kinko Hyo.
Bitcoin (BTC/USD) forecast and analysis on December 16, 2018
Cryptocurrency Bitcoin (BTC/USD) is trading at 3223. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish trend on Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Bitcoin (BTC/USD) forecast and analysis on December 16, 2018
As part of the Bitcoin exchange rate forecast, a test of 3340 is expected. Where should we expect an attempt to continue the fall of BTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2820. The conservative area for sales of Bitcoin is located near the upper border of the Bollinger Bands indicator at the level of 3500.
Cancellation of the option to continue the decline in Bitcoin will be the breakdown of the area of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of 3550. This will indicate a change in the current trend in favor of the bullish on BTC/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the cryptocurrency fall.
Bitcoin BTC/USD forecast for December 16, 2018 suggests a test level of 3340. Further, it is expected to continue falling to the region below the level of 2820. The conservative area for selling Bitcoin is located area of 3500. Canceling the option of falling cryptocurrency will break the level of 3550. In this case, we should expect continued growth.
Romanian Bitcoin Exchange CEO Helped Launder Stolen Funds: Report
According to a Cluj, Romania-based newspaper, the case of bitcoin exchange executive Vlad Nistor is much deeper than the simple illegal operation of a cryptocurrency firm. Their most recent report on the case speaks to some much more serious allegations as to the behavior of Vlad Nistor.
More Details Emerge in Bitcoin Exchange CoinFlux CEO’s Arrest
The paper reports that Nistor was part of a group that executed phishing attacks on United States soil between 2014 and 2015 when CoinFlux was just getting started. A total of 14 Romanians have been indicted by federal authorities based out of Kentucky, Vlad Nistor just being one of the more notable due to his business ties and outward appearance as an upstanding citizen.
He is said to have advised some of the active cyber criminals via Telegram and helped them launder the proceeds of their illegal activity. They apparently executed a number of phishing attacks on US soil, some even traveling to the US to better succeed.
From the report (roughly translated):
“Two of these methods were run online via phishing or through various fictitious sale ads (via eBay or through online platforms ). For example, Romanians were sending e-mails using instant messaging programs or telephone numbers where the user is advised to give confidential data to win certain prizes or was informed that they are necessary due to technical errors that led to loss of original data. A web address containing a clone of the site of a financial or trading institution was indicated in the e-mail.”
After stealing funds from phishing victims, the criminals would use the newly created CoinFlux exchange to wash funds through various crypto methods. That alone would not normally be enough to indict an exchange operator, as most exchanges have some form of user agreement which bans illegal activity and absolves itself of wrongdoing on the part of its clients. Provided they following know-your-customer and anti-money-laundering regulations, they are usually free of responsibility.
However, in the case of Vlad Nistor, according to allegations, he actually advised the phishers on how to dispose of their proceeds using his crypto exchange.
Nistor Extradition Delayed, Others Involved in Progress
coinflux cluj, romania bitcoin vlad nistor
Vlad Nistor is CEO of CoinFlux, a Cluj-Napoca, Romania-based bitcoin and cryptocurrency exchange.
The most recent reporting from the Cluj newspaper indicates that the court has given Nistor and his lawyers until Dec. 20 to make arguments as to why he should not be extradited. He appears to be what we would call in the US “free on bond,” but he is currently banned from using bitcoin or any other sort of digital currencies for any reason and must report to the court if they request his presence at any time.
Three criminals in the conspiracy have had their extradition requests approved: Popescu Bogdan-Ştefan, Dobrică Alin-Ionut and Arvat Florin. In the view of the Cluj reporter, the only difference between their actions and Vlad Nistor’s is that they carried out their illegal activities directly on US soil. The work of Nistor’s attorneys and the government of Romania is to determine whether or not Nistor acted in sufficient violation of US laws to warrant an extradition.
Can Bitcoin retain $3k line? Sideways motion continues
The sideways market movement continues over the weekend, with the crypto market having, for the most part, culled the bleeding while displaying no signs of any imminent breakaway successes.
Both BCH and BSV continue to drop, reversing their brief moment in the sun. Stellar continues to drop significantly. On the positive side, EOS is seeing some consistent gains, but notably has come under fire recently, with investors predicting (http://www.chepicap.com/en/news/5982/eos-criticism.html) some imminent for the blockchain ecosystem underpinning the coin.
Bitcoin hasn’t showed much motion, hovering around $3,200 for the past 24 hours. While this isn’t particularly exciting for anyone looking to make back their crypto fortune, Bitcoin enthusiasts will note that BTC hasn’t plummeted below the $3,000 line which many were worried about, and may end up holding through the holidays.
Generally, the market continues its slow bleed, having lost $7 Billion over the past four days, but this downturn is slowing as Bitcoin in particular, and many significant altcoins, finding a bottom (at least for now). Total market cap hovers around $102 Billion for the past day and a half