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Sally Ho’s Technical Analysis 15th March 2019



Bitcoin (BTC/USD) displayed some serious volatility along with many of the majors in the alt-coin complex during Thursday’s North American session. In short order, the pair sharply escalated from around the 3850 level to the 3900.00 figure before bidding a hasty retreat to the 3779 level, and then reclaiming most of its lost ground. Stops were triggered above the 3866.46 level, representing the 200-bar MA (240 minutes) and then the 3878.34 level, representing the 23.6% retracement of the 3655 – 3947.33 range. During the sharp spin lower, BTC/USD encountered technical Support just below the 3780.97 level, representing the 23.6% retracement of the move from 4188.79 to 3655.00.

Yesterday’s volatile move created an Outside Bar and the intraday Low was also around the 200-bar MA(240 minute) which came in around the 3783.02 level.

Technical Support is expected around 3763.333684.133620.14 with Stops expected below.

Technical Resistance is expected around 3977.303987.973997.634026.624062.82 with Stopsexpected above.

Upside price objectives remain around the 4163/ 4358/ 4673 levels.

On 240-minute chart, SlowK is marginally above SlowD and MACD is marginally above MACDAverage.

On 60-minute chart, Price activity is trying to break above the 200-bar MA (3866.89) during today’s Asian session. SlowK is Bullishly diverging from SlowD and MACD has been above MACDAveragesince yesterday’s volatility.

ETH/USD (Ethereum/ US dollar)

Ethereum (ETH/USD) also displayed major volatility during Thursday’s North American session as traders took the pair abruptly Higher, electing Stops above the 200-bar MA (132.90), 100-bar MA(133.62), and 50-bar MA (134.11) before testing major technical Resistance around the 134.91 level, representing the 38.2% retracement of the 222.78 – 80.60 range.

Accounts then pushed ETH/USD sharply Lower and elected Stops below the 129.34 level, representing the 61.8% retracement of the move from 122.75 to 140.00, before Support emerged around the 128.90 level.

Bids are expected around the 126.82 level, representing the 76.4% retracement of the 122.75 (4 Mar) – 140.00 (6 March) range.

Technical Support is expected around the 125.16/ 123.25/ 121.76 levels with Stops expected below.

Technical Resistance is expected around the 137.62/139.13/ 140.61 levels with Stops expected above.

Downside price objectives remain around the 119.57 level.

On 240-minute chart, SlowK has just Bullishly crossed above SlowD and MACD Bullishly crossed above MACDAverage during yesterday’s volatility.

On 60-minute chart, Price activity just moved above the 100-bar MA (131.91), triggering nearly USD 0.50 in Stops, and the 200-bar MA is now at 133.91SlowK has just Bullishly crossed above SlowDand MACD is Bullishly diverging from MACDAverage.

LTC/USD (Litecoin/ US dollar)

Litecoin (LTC/USD) was one of the alt-coins that traded in a volatile manner during yesterday’s North American session as traders pushed the pair Higher and elected Stops above the 55.80 level, representing the 50-bar MA (240 minutes). LTC/USD reached the 57.74 level before spinning Lower.

Traders were unable to challenge the key 58.28 level, representing the 50% retracement of the move from 94.39 to 22.17.

During the rapid deprecation yesterday, LTC/USD tested the 53.11 level, right around the 38.2% retracement of the move from 103.06 to 22.17.

Technical Support is expected around the 51.38/ 49.76/ 45.81 levels with Stops expected below.

Technical Resistance is expected around the 59.97/ 62.68/ 66.80 levels with Stops expected above.

Upside price objectives remain around the 62 and 74 levels.

On 240-minute chart, Price activity remains above the 200-bar MA (51.67). SlowK has Bullishlycrossed above SlowD while MACD is marginally above MACDAverage.

On 60-minute chart, Price activity triggered some Stops yesterday above the 200-bar MA (55.79). SlowK is Bullishly diverging from SlowD and MACD is Bullishly diverging from MACDAverage.

BCH/USD (Bitcoin Cash/ US dollar)

Bitcoin Cash (BCH/USD) rocketed Higher during yesterday’s North American session before plumbing intraday Lows and then retracing. Traders reached Stops above the 130.07 level, representing the 200-bar MA (240 minutes), and then pushed the pair as High as the 133.20 level, just below the important 133.44 level, representing the 38.2% retracement of the move from 109.88 to 157.00.

Traders then elected Stops below the 127.93 level, representing the 50% retracement of the move from 120.36 to 135.50.

Technical Support is expected around the 124.74/ 121.00/ 117.12 levels with Stops below.

Technical Resistance is expected around the 133.91/ 136.91/ 139.00 levels with Stops above.

Downside price objectives remain the 110 and 82 levels.

On 240-minute chart, Price activity Bullishly remains above the 50-bar MA (129.36), 100-bar MA(129.31), and 200-bar MA (130.15). SlowK and SlowD appear to be converging while MACD Bullishlyremains above MACDAverage.

On 60-minute chart, Price activity Bullishly remains above the 50-bar MA (129.18), 100-bar MA(128.45), and 200-bar MA (129.37). SlowK Bullishly remains above SlowD while MACD and MACDAverage have converged.




Claims That Former TRON CTO Was Sacked For Bribery & Theft Surface



Earlier this month, the Chief Techincal Officer of TRON, Lucien Chen announced his departure from the project. He had been with TRON since 2017 and laid out a three-point explanation as to why TRON just isn’t TRON anymore.

Following the announcement by Chen, the TRON PR sprung into action and according to the representatives from the project, Chen was actually sacked from his position months ago because:

“Suspicion of misappropriation of funds, bribery, competitive infringement, and theft of trade secrets and intellectual property.”

The CEO and founder of TRON, Justin Sun lent validation to this claim by retweeting it and a Reddit thread came up which relayed this information to the community.

Giving his reasons for leaving, Chen said:

“The whole project has developed into a monetary tool without any “decentralize the web” spirit… The technology platform of TRON was built by me. I certainly know that the real Internet applications cannot function in TRON network at all currently. The TRON ecosystem is still far from commercial applications that users can really apply to.”

There are now claims that the former CTO was bribing people, misappropriately using funds, theft and so on. A post on Reddit claims:

“Chen, Zhu, and Xie were dismissed in January, 2019 for violation of corporate policies and the law. Relevant documents and materials have been handed over to the judiciary.”

News Source:Crypto Daily

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Living on Bitcoin Just Got Even Easier, AT&T Accept Crypto Payments With Bitpay



Earlier today, US telecom giant AT&T proudly announced that it had become the first major American mobile carrier to accept crypto assets for the payment of bills. Customers will be able to settle their accounts using Bitcoin thanks to a deal with BitPay.

Although such developments are great for those earning in Bitcoin, for most people interested in the number one digital currency, the appeal will likely be limited. They therefore do not quite represent the holy grail’s of crypto adoption many portray them to be.

AT&T to Accept Bitcoin Payments Through BitPay

It’s getting easier than ever to live your life exclusively using digital currency. More and more online merchants are opening up to crypto assets in one way or another.

Many with a vested interest in digital currency were excited recently by the news that several large companies would be accepting Bitcoin payments – albeit in a round about way. Bitcoin users can now kit out their wardrobes at Nordstrom, shop for gaming supplies at GameStop, and even pay directly for their groceries at Whole Foods using their favourite digital currency.

This latter point got people particularly excited given that internet retail behemoth Amazon owns WholeFoods. Speculation is rife that Amazon itself could be next to accept Bitcoin via this convoluted method of using a payment processor to pay with a peer-to-peer currency.

You see, part of the recent wave of increased acceptance has been made possible by a deal between crypto exchange Gemini and a payments start-up called Flexa. Users actually pay using an application called Spedn. The merchants themselves don’t receive Bitcoin but they for very little investment they can look supportive of uber-trendy things like cryptocurrency.

The latest company to join the pseudo acceptance bandwagon is US mobile giant AT&T. It announcedvia a blog post earlier today that it would be using crypto payments processing company BitPay to receive payments from its customers online.

In the AT&T press release, Kevin McDorman, the vice president of the company’s business operations, stated of the move:

“We’re always looking for ways to improve and expand our services… We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.”

Sure, It’s Great for Crypto USERS, Not so Much for Speculators

Just like the other recent announcements of so-called merchant acceptance, this is not really the bullish news that many have made it out to be. Since AT&T will be using BitPay to process payments, they will simply receive dollars as they always would have done. To get those dollars, the Bitcoin is immediately sold creating additional downside pressure on the price of Bitcoin. For those purely speculating, it should be realised that by using such services you are increasing the likelihood of dropping the price of Bitcoin. It will be truly exciting when a major retailers takes payment directly in Bitcoin themselves and goes on to finance the business itself using the crypto asset.

Of course, these stories of increased acceptance are great for those who get paid in Bitcoin and don’t want to have to deal with an exchange just to go about their daily routines. Having more options than ever to spend crypto directly at is certainly advantageous for those trying to live without fiat.

News Source

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Bitcoin [BTC] Going Above $7,950 will Start Another Breakout – Analyst



Bitcoin has been in a slight pullback for a few days now and those who have been watching the charts during this time may be confused as to the direction Bitcoin, and indeed the whole market is going next. A cryptocurrency trader known as DonAlt on Twitter has given some light on the market. He said the lead currency will see some light if it manages to rise to $7,950 from the current $7,842 price.

Bitcoin market chart from TradingView

When will this happen?

Bitcoin grew really fast especially in May, rising way above $8,000 and the crypto community expected a move towards $10,000. However, the market started pulling back in what seemed to be a crash, but analysts said was normal. At the time, the cryptocurrency was said to be growing too fast and needed to correct again before rising at a slower pace.

This seems to agree with DonAlt’s position as the cryptocurrency has eventually corrected but its growth has become significantly slower than before. Another analyst Josh Rager says the asset will be consolidating this week and great volatility should be expected on Friday, May 31st. This may eventually lead to a climb to DonAlt’s critical $7,950 price and the long-awaited recovery above $8,000 again.


A long-awaited rise

The initial price rise evidently raised the expectations of the crypto community and many Bitcoin holders cannot wait for the price to go up again. Not only that, altcoins were expected to rise with Bitcoin’s pullback but the current one has held down even the alts. The rise of Bitcoin is currently probably the only hope for the market and the entire space is looking forward to it.

-News Source

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