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

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  #11  
Old 05-09-2017, 05:53 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for 05/09/2017

The recent slide in the Bitcoin price was related to the news from China where in the near future, the Chinese government may decide to regulate the ICO - the ability to raise capital through new ideas based on the Blockchain technology. Despite the fact that the Chinese authorities have not issued any official bill, it is alleged that they perceive the ICO as a violation of the law on fundraising.

Citing an anonymous source from the Caixin report, the People's Bank of China conducted research on ICO. As a result, it was concluded that many of the ICO's capital-raising projects violate the law: "more than 90% of ICO projects have violated the law regarding illegal capital collection or fraud. Only 1% of projects participating in ICO actually allocated the capital to develop the idea."

Moreover, the source states that the rulers and experts have come to negative conclusions on ICO-related projects. Although most of the projects are trying to prove that they operate legally, they actually collect funds, breaking the letter of the law.

Let's now take a look at the Bitcoin technical picture on the H1 time frame. The price has slid just below the 61%Fibo in order to bounce from the golden trend line support around the level of $3,992. Currently, to get back to the uptrend, the bulls will have to break through the resistance zone between the levels of $4,377 - $4,470 (around the level of old 38% Fibo).

This zone is located around the 50% Fibo of the leg down, so this is the main reason, why it is so important. From the Elliott Wave Principle point of view, the level of $3,992 is the bottom of the corrective zig-zag pattern of the wave (a).

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  #12  
Old 05-09-2017, 06:39 PM
mazri_2008 mazri_2008 is offline
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Forecast for Bitcoin on September 5

The pressure on bitcoin rose at the beginning of the week after it was updated to a historic high of around $ 5,000. Most likely, fixing profits on long positions coincided with unpleasant news from China, where the People's Bank decided to take the most stringent measures with respect to the primary placements of the tokens. This is an ICO, a mechanism of financing, which is somewhat similar to the IPO, held in the stock markets. The website of the People's Bank of China reported that the ICO violates the laws on money circulation because the tokens are not a means of payment in China and should be banned.

Many investors and traders are now concerned that such actions and banning may spread beyond China, which will lead to serious restrictions on the use of blockchain and cryptocurrency in various countries.

South Korea also did not stand aside, saying today that it would tighten the rules on bitcoin and take the most serious measures against ICO. It became known that the regulatory authorities of South Korea are strengthening the monitoring and regulation of digital currencies, including bitcoins.

Bitcoin (BTC)

The signal to buy Bitcoin (BTC):

A serious decline in bitcoin was stopped today at the level of 3991, but so far the upside prospects are very unfavorable. The divergence on MACD is formed. Returning to buying bitcoin is best after a decline to the support levels of 3858 and 3739, or from a larger area of 3588, where the bulk of orders will be located. If you manage to gain a foothold above 4205, you can return to buying bitcoin in the area of 4404. However, above this level is unlikely to succeed today.

The signal for sales of Bitcoin (BTC)

Sales can be searched from the level of 4205.50, after an unsuccessful attempt to gain a foothold above. By this time, the 30-day moving average will also go down there, which will also limit the upward potential. If a quick sell off from level 4205 does not happen, then it's best to post short positions to a larger resistance level of 4404.

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  #13  
Old 05-09-2017, 06:51 PM
cari_makan cari_makan is offline
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kalau tuan TT boleh buat posting guna BM lagi bagus utk newbie yg lemah english ni,,,
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Malas buat dah.
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  #14  
Old 05-09-2017, 09:54 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for September 05, 2017



The Bitcoin (BTC) is trading lower at the level of $3.996 driven on the news that the People's Bank of China, the central bank of the country, has officially declared initial coin offerings (ICOs) as an illegal method of raising money. In an official statement, the PBoC announced that organizations and individuals are no longer permitted to conduct ICO (intial coin offering) campaigns and token sales. "PBoC bans ICOs. From now on, no organizations and persons in China are allowed to raise funds via ICOs. Fund-raising platforms are not allowed to provide trading and exchange services. Raised funds should be 'cleared up' and refunded to protect investors." Technical picture confirming weakness on the Bitocin.

Trading recommendations:

According to the 1H time frame, I found a broken rising wedge in the background, which is a sign of weakness. My advice is to watch for potential selling opportunties. The downward target is set at the price of $3.610.

According to the 1H time frame, I found a broken rising wedge in the background, which is a sign of weakness. My advice is to watch for potential selling opportunties. The downward target is set at the price of $3.610.

Support/Resistance

$3.610 – Major support (projected target)

$4.396 – Intraday resistance cluster

$3.995 – Intraday support cluster
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  #15  
Old 06-09-2017, 11:07 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for September 06, 2017



The Bitcoin (BTC) is trading higher at the level of $4,588. Anyway, the news from Russia are not so promising for Bitcoin. The Bank of Russia has issued a statement warning about the risks of digital currencies including bitcoin as well as Initial Coin Offerings (ICOs). The central bank says it is premature to allow the circulation and use of cryptocurrencies within the financial infrastructure of Russia. "Operations with cryptocurrencies carry high risks both during exchange operations due to sharp exchange rate fluctuations, and in case of raising funds through the ICO (Initial Coin Offering – a form of attracting citizens' investments in the form of issuing and selling new cryptocurrency to investors / tokens)". The technical picture is confirming that there is space for lower price.

Trading recommendations:

According to the 1H time frame, I found a broken rising wedge in the background, which is a sign of weakness. Most recently, there is a smaller rising wedge in creation and my advice is to watch for potential selling opportunities if the price breaks the upward trendline. The downward targets will be set at the price of $4,000 and $3,607

Support/Resistance

$4.000 – Local support (projected target)

$3.606 – Major short-term support

$4.622 – Resistance (gap zone)

$4.570- Fibonacci resistance 61.8%
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  #16  
Old 06-09-2017, 11:33 PM
mazri_2008 mazri_2008 is offline
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Trading recommendations for Bitcoin, September 6, 2017

The fixation of profit on Bitcoin has come to the end, but the market participants have not yet found the strength to the new leap. Apparently, investors are alarmed by the fact that central banks are gradually starting to enter the cryptocurrency market, and it is with restrictions. If earlier the market of cryptocurrencies was different, that it was completely independent, now the regulators turned their eyes on it. In particular, investors have yet to digest the recent restrictions imposed by the People's Bank of China. Nevertheless, the restrictions are not so radical, and most importantly, that neither the ECB nor the Fed has yet taken any action. So if the main central banks continue to limit themselves to mentioning cryptocurrencies, there will be fewer reasons for panic. The potential for decline seems to have been exhausted so that we can expect gradual growth in the near future.

Technical picture

As previously predicted, the quotation managed to reach the first value of 4420, where we saw a slowdown. It is possible to assume that the current level (4420) will serve as a point for the bulls to regroup forces for a further move. The current judgment on BTC can be considered in this sense: a temporary fluctuation within the limits of 4460/4330 forms a platform for long positions, where after a clear fixation of the price above the value of 4500 will open the way to the first value of 4650, with a further refill to the psychological level of 5000.

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  #17  
Old 06-09-2017, 11:36 PM
mazri_2008 mazri_2008 is offline
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Bitcoin's forecast for September 6

Bitcoin managed to restore its position from a minimum of 4000 USD. After yesterday, it was reported that the Bitcoin Foundation received legal support and is ready to continue to fight against all hard forces against tough federal and regional regulation in the United States. Let me remind you that the main task of the fund is to protect the interests of bitcoin and blockade. The fund said that the priority will be the participation of a dialogue with the US Congress, which lately has been struggling against the introduction of the cryptocurrency.

If the Bitcoin Foundation actually manages to find leverage for at least some congressmen, this could lead to an increase in demand for Bitcoin and its return to the historic maximum of 5000 USD.

Let me remind you that the pressure on Bitcoin earlier this week was caused by the decision of the People's Bank of China, which took an unprecedented step to ban all ICOs in the country.

Bitcoin (BTC)

The signal for purchases Bitcoin (BTC):

While the trade is above 4364.50, and it was possible to gain a foothold above this level yesterday at the end of the American session, there is a real chance of continued growth of bitcoin already to the area of larger resistance levels of 4600 and 4787. In the case of falling to the level of 4364.50, it's best to go back to the purchases when updating to 4205 support, which was formed yesterday in the afternoon or on a rebound from 3991.

The signal for Bitcoin sales (BTC):

Sellers yesterday lost the upper limit of the downward channel, which led to the formation of instant demand for Bitcoin. At the moment, it's best to go back to sales after descending to the support level of 4364.50 or after updating new highs in the area of 4600 and 4787.

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  #18  
Old 06-09-2017, 11:39 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for 06/09/2017

Despite the fact that China's authorities banned the ICO, Hong Kong regulators have released a "cautionary statement" to prospective investors. The Hong Kong Securities and Futures Commission (SFC) reiterates the message that ICO tokens could constitute securities under the local law. Previously, the US Securities and Exchange Commission (SEC) had issued multiple warnings about tokens requiring testing for securities compliance if necessary, so it looks like Hong Kong is following the SEC footsteps. In the meantime, it is still unclear whether China will permit ICOs to trade in a more controlled environment at some point in the future.

What country remains still the best for all blockchain technology users and companies starting out with blockchain technology who would like to release their own ICO? Singapore has long been a mecca for start-up companies because of such factors as friendly tax rules, unconstrained legal policies, and state funding. In the past, the Lion City has already hosted many successful ICO projects as it tries to regulate and support the cryptocurrencies and blockchain technology.

Let's now take a look at the Bitcoin cryptocurrency technical picture on the H4 time frame. After the bounce from the golden trend line support at the level of $3,992, the bulls have managed to push the price higher towards the key resistance zone between the levels of $4,376 - $4, 4470. According to the EWP, this bounce is a part of a corrective sub-wave (b) and might get terminated soon in order to complete wave (c) to the downside. In this situation, only a clear breakout above the recent all-time highs at the level of $4,970 will invalidate the downward scenario.

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  #19  
Old 08-09-2017, 06:56 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for 08/09/2017

Many Bitcoin enthusiasts are trying to anticipate a realistic projection for the Bitcoin price over the next few years. There are some analysis that expect a rational $15,000-$20,000 value to extraordinary projections of $1 mln per Bitcoin. For now, the fact is that after activation of the SegWit protocol which includes the Lightning Network technology, the whole Bitcoin market capitalization is slowly approaching $80 bln, which makes the Bitcoin market alone worth a half of this sum.

Moreover, the Bitcoin daily transactions are growing steadily as well (about 400,000 BTC per day according to Coinmarketcap) and 1,728 new Bitcoins are created through mining each day. If by the next halving the number of mined Bitcoins will drop to 864 and then in 2024 to 432, around the year of 2032 99% of all Bitcoins will be mined already. This situation will likely make the investors realize, that they are missing out the opportunity to mine the remaining 1.6% of all available Bitcoins, and then the prices should climb accordingly. With the given pace of rise, the target of $20,000 by 2020 is very likely to be hit.

Let's now take a look at the Bitcoin technical picture at the H1 time frame. The price is currently trading inside of the gray rectangle supply zone, but it was declined from this zone twice already.

So, will the third time be lucky? The clear bearish divergence between the price and momentum oscillator supports the downward view, but any breakout above the level of $4,691 will likely indicate a further move towards the swing high at the level of $4,970. On the other hand, according to the Elliott Wave Principle, the wave (b) correction might get more complex and time-consuming before the wave (c) to the downside unfolds. The bigger time frame trend remains bullish.


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  #20  
Old 08-09-2017, 08:02 PM
mazri_2008 mazri_2008 is offline
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Bitcoin analysis for September 08, 2017



The Bitcoin (BTC) is trading sideways at the price of $4.617 driven on the news that several Chinese cryptocurrency exchanges have delisted markets in a bid to comply with China's recent clarifications on the legality of ICOs. Yunbi, Dahonguo, and Yuanbao have issued statements addressing the central bank's new regulations, moving to delist markets that facilitate the trade of tokens issued via initial coin offering. Technical picture is showing that there is weakness in the backround.

Trading recommendations:

According to the 1H time frame, I found a broken rising wedge in the background, which is a sign of weakness. The price is testing the gap zone from Monday and gap zone acting like resistance at this point.There is also a hidden bearish divergence on the moving average oscilator. My advice is to watch for potential selling opportunties. The downward targets are set at the price of $4.460, $4.351 and $4.000.

Support/Resistance

$4.680 – Gap resistance

$4.920 – Major price action resistance

$4.460 – Intraday support

$4.351 – Intraday support

$4000 – Projected pattern target (support)
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