Bitcoin on Friday surged a minor 0.21 percent against the US Dollar, intensifying the bias conflict it has been in since yesterday.
The BTC/USD opened the day while valued at 6590-fiat and is currently fluctuating around 6593-fiat. Between then and now, the pair, however, witnessed a robust intrarange action, in which the value retested 6500-fiat as its psychological support, and found its uptrend capped by an equally strong resistance level near 6627-fiat. The sideways consolidation action offers adequate opportunities to traders to enter and exit markets on decent profits.
BTC/USD Technical Analysis
The medium-term triangle pattern continues to trap the Bitcoin price action. We still haven’t been able to establish a breakout action, despite BTC/USD moving in an upward parallel channel. On smaller timeframes, the pair is trending above its 100 and 200H SMAs, while the RSI and Stochastic both are also inside a buying region, with their heads towards the north.
A near-term bullish sentiment can be established if BTC/USD closes above the upper trendline of the prevailing triangle formation. Similarly, a sell-off towards the 38.2% Fibonacci retracement of the last swing from 6447-low and 6627-high could switch the bias towards bears. If the long-term trend is taken into consideration, BTC/USD is clearly going down to retest its bottom range below 6000-fiat.
BTC/USD Intraday Analysis
No wondering too much about where the price would go, we will rather focus on what we can make out of the current sideways action. That said, let’s see what levels are we watching out for today.
As of now, the upper trendline of the triangle formation serves as our interim resistance. A breakout scenario will be confirmed if we break above 6627-fiat. Even if we don’t, a false breakout signal on a close above the interim resistance would have us put a long position towards 6627-fiat. Also, a stop loss 3-pips below the entry level will define our risk.
If we do break above 6627-fiat, we’ll confirm a near-term bullish bias, and open a long position towards 6660-fiat, the higher high from September 30.
Conversely, a pullback from the interim resistance level would have us enter a short position towards 6558-fiat. At the same time, we’ll open a stop loss order 3-pips above the entry level to protect our trade from additional losses, if price reverses towards the north.
On.Live Is Pleased to Announce That ONL Token Holders Can Now Use Bitgo’s Industry-Leading Wallet and Custodial Offerings
BitGo is the market leader in digital asset financial services providing security, compliance, custodial, liquidity solutions for institutional investors. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of global Bitcoin transactions and $15 billion per month across all cryptocurrencies.
In 2018, BitGo introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo Business Wallets and BitGo Custody are used by hundreds of clients around the world including the largest cryptocurrency exchanges.
Since its inception in 2013, BitGo has been focused on the institutional market and that makes working together a natural fit, as we want to extend the accessibility of ONL tokens for institutional and enterprise clients.
On.Live is a distributed live video broadcast network project, build to fill the niche in payed live and on demand services delivery in the Internet. The platform offers one of the kind, innovative, no subscription business model, beneficial for all parties involved in On.Live marketplace.
With live streaming on the rise, and lack of other comparably flexible solutions on the market, On.Live is natural choice for access and delivery of live streamed services for individuals, small and big businesses. On.Live is aiming at becoming market leader and platform of choice for everyone who realizes the huge potential in live streaming, and what profits it may bring in his own economic activities.
We believe that BitGo’s support will elevate On.Live’s business potential, contribute to growth of the platform itself and positively affect the security of ONL.
10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report
Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.
Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.
“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”
The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.
Tobacco shops are selling crypto despite regulatory uncertainty.
France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.
But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.
Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights
The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.
The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.
According to the act, digital assets are considered intangible personal property.
“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”
The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.
Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.