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CryptoCurrencies Discussion of bitcoin and all alternate cryptocoins. Mining, wallets, investments, exchanges and etc.

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  #301  
Old 13-04-2018, 10:48 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for April 13, 2018



The Bitcoin (BTC) has been trading upwards. As I expected, the price tested the level of $8,096. Trying to take its share of the profits, the government of Latvia may accept cryptocurrencies as a legal means of exchange. This year's tax filing campaign is underway and officials don't have much time. Two parliamentary commissions and the Ministry of Finance have expressed their views on the matter this week. Latvians may very soon owe the state tax on their gains from crypto transactions. Technical picture looks bullish.

Trading recommendations:


According to the Daily time frame, I found that price is holding well above the horizontal resistance and supply trendline in the background, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward target is set at the price of $8,800

Support/Resistance

$7,684 – INtraday support

$8,095– Intraday resistance

$8,800 – Objective target
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  #302  
Old 16-04-2018, 05:46 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for 16/04/2018

After the investment mogul Tim Draper said this week that Bitcoin could make up to $ 250,000 by 2022, Brian Kelly supported this forecast in a TV interview. In response to the question about Draper's high predictions, Kelly replied that although it sounds crazy, considering that Bitcoin has grown by 4,000 percent in two years and 3,000 percent in four years, it could be a continuation of the trend. Kelly continues, noting that the growth of institutionalized money in the cryptographic sphere - Rockefeller's VC arm, Executive Goldman Sachs and Soros Fund Management - can make the cryptocurrency variability decrease, making it easier to use as real currencies and will only need four years to reach Draper's price point suggested in 2022. At the moment, the most common use of cryptocurrencies in the opinion of Brian Kelly are citizens of countries where there are no reliable governments or banking systems. Asked why someone would risk losing 20 percent or more by investing in cryptocurrencies, he replied: "Well, it's better than to lose 100 percent if your assets are taken over by a dishonest government".

The key aspect in which Bitcoin reaches $ 250,000 by 2022 or $ 25,000 by the end of 2018 is to increase the volume of transactions. Moreover, this week, Crypto Pantera Capital hedge fund also predicted that Bitcoin will reach $ 20,000 again by the end of this year, and $ 6,500 was the likely bottom.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has made a bottom of the wave (c) of the wave Y at the level of $6,400 and since then the new cycle up has developed. The recent high for this cycle was made at the level of $8,355 and was labeled as the top of the potential wave (1) or (a). Currently, the market is in the corrective cycle wave (2)/(b), so a potential test of the level of $7,500 is possible before the uptrend will resume.


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  #303  
Old 16-04-2018, 08:32 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for April 16, 2018



Bitcoin (BTC) has been trading sideways at the price of $8.030. Bitcoin in Brief today is slanted toward a crypto winter slowly thawing, as Pantera Capital bets on a moonshot price point. Besides, the world's most popular decentralized digital asset has been forked more than a plate of good pasta; there's a growing list of countries who're less likely to nab your crypto profits; Yahoo! smashes rumors; and a good-hearted wager between bitcoin core and bitcoin cash partisans exemplifies how ecosystem actors should treat one another. Technical picture looks bullish.

Trading recommendations:

According to the Daily time - frame, there is a breakout of falling wedge and flat base, which is sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward target is set at the price of 8.837.

Support/Resistance

$8.342 – Intraday resistance

$7.926– Intraday support

$8.837– Objective target
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  #304  
Old 16-04-2018, 08:34 PM
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Quote:
Originally Posted by mazri_2008 View Post
Bitcoin analysis for April 16, 2018



Bitcoin (BTC) has been trading sideways at the price of $8.030. Bitcoin in Brief today is slanted toward a crypto winter slowly thawing, as Pantera Capital bets on a moonshot price point. Besides, the world's most popular decentralized digital asset has been forked more than a plate of good pasta; there's a growing list of countries who're less likely to nab your crypto profits; Yahoo! smashes rumors; and a good-hearted wager between bitcoin core and bitcoin cash partisans exemplifies how ecosystem actors should treat one another. Technical picture looks bullish.

Trading recommendations:

According to the Daily time - frame, there is a breakout of falling wedge and flat base, which is sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward target is set at the price of 8.837.

Support/Resistance

$8.342 Intraday resistance

$7.926 Intraday support

$8.837 Objective target
great info
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  #305  
Old 18-04-2018, 03:04 PM
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BITCOIN Analysis for April 17, 2018

Bitcoin has been quite impulsive with the bearish gains recently, which engulfed the previous bullish daily candle easily. However, today bears seemed absent in the process, whereas bulls tried to retain their ground. The price has gained over 20% recently, which was quite remarkable and which also explains the possibilities of further bullish pressure for the coming days. The overall crypto market is looking pretty well with the recovery, where the flagship bitcoin is proceeding faster in comparison. As of the current scenario, the price is expected to push higher without any deeper pullback if today's daily close remains strong with bullish pressure. As the price remains above $7,000 with daily close, further impulsive bullish pressure is expected for the future.

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  #306  
Old 18-04-2018, 06:28 PM
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Bitcoin analysis for 18/04/2018

The rating giant, Moody's Investor Service, said in a recent report that Blockchain technology for cross-border transactions could potentially harm banks in Switzerland more than in any other country. Because half of the Swiss banking sector's revenues come from fees and commissions, Switzerland is more at risk of losing money because Blockchain technology makes cross-border transactions cheaper and faste. According to the Moody's report: making cross-border transactions faster and cheaper would be more advantageous for bank borrowers, but these improvements could also compress their fees and commissions, which would be a negative result.

Switzerland is also the third, after Great Britain and Belgium, the national Moody's position for banks that process the largest number of cross-border transactions with respect to GDP (except for Luxembourg and Hong Kong). Switzerland has recently been described as a "crypto nation" due to its supporting ecosystem for crypto, Blockchain and ICO. Earlier in April, a board member of the Swiss National Bank (SNB) said that although the technology of a scattered accounting book, such as Blockchain, can reduce the cost of cross-border payments, it does not meet the real-time gross requirements.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market is now in wave b cycle of the corrective wave (2)/b, which should end at the level of $7,442. There is a possibility that the wave (2)/b had been completed already at the level of $7,722, but it would have been very short in price and time. The key level to the upside is the recent swing high at the level of $8,355. If broken, then the market will likely rally towards the next technical resistance at the level of $9,134.

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  #307  
Old 18-04-2018, 08:02 PM
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Bitcoin analysis for April 18, 2018



Trading recommendations:

According to the H4 time – frame, I found a broken falling wedge and flat base in the background, which is a sign that buyers are in control. I also found a failed head and shoulders pattern, which is another sigh of strength. My advice is to watch for potential buying opportunties. The upward target is set at the price of $8.875.

Support/Resistance

$8.100 – Intraday resistance

$7.730– Intraday support

$8.875– Objective target
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  #308  
Old Yesterday, 03:36 PM
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Bitcoin analysis for 19/04/2018

The Vice-President of the Bank of Japan spoke negatively about the impact of digital currencies issued by Central Banks on the current financial system. In his opinion, deputy governor Masayoshi Amamiya said that though the digital currency issued by the Central Bank may have a negative impact on the current financial system, the bank is open in the future to use new economic technologies such as cryptocurrencies. The conference was held jointly with the International Monetary Fund, the Japanese financial services agency and the Japanese bank. "The issue of the Central Bank's digital currency for general use may be analogous to allowing households and businesses to have direct bank accounts with the Central Bank. This can have a major impact on the two-level currency system and the financial intermediation of private banks" - Amamiya says and adds "IT innovations pose many basic questions and challenges related to the currency system, designing the Central Bank's infrastructure and using information related to business operations".

Amamiya came to the conclusion that although the Bank of Japan will no longer spend its own virtual currency, the bank understands that the use of new technologies is always possible for the Central Bank's infrastructure. The Bank of Japan and the European Central Bank are currently working on a joint initiative, called Project Stella, exploring the potential Blockchain opportunities in the field of securities settlements.

Let's now take a look at the Bitcoin technical picture in the H4 time frame. The market is now in wave b cycle of the corrective wave (2)/b, which should end at the level of $7,442. There is a possibility that the wave (2)/b had been completed already at the level of $7,722, but it would have been very short in price and time. The key level to the upside is the recent swing high at the level of $8,355. If broken, then the market will likely rally towards the next technical resistance at the level of $9,134.


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  #309  
Old Yesterday, 08:53 PM
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BITCOIN Analysis for April 19, 2018

Bitcoin has been consolidating above $8,000 price area for a while. The price is being supported by the dynamic levels of 20 EMA, Tenkan and Kijun line respectively to push further upwards. The slower momentum of the bulls is currently raising questions on the reliability of the bullish trend it has formed recently. The price is expected to gain impulsive momentum after it clears above $8,500 price area with a daily close targeting towards $10,000 in future. The lack of fundamentals and market participants in the market account for the slow and steady price action in Bitcoin. As for the currents scenario, the bulls are still sustaining prior gains and expected to push much higher in the coming days as the price remains above $7,000. The Kumo Cloud has broadened its edge from Span A to Span B which also explains the reliable support. The price has to support its bullish pressure. As the price remains above $7,000 area, the bullish bias is expected to continue further.

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