The CEO of a major cryptocurrency exchange, Bitstamp, says that his trading platform is seeing “massive crypto interest” from institutional clients. “Many institutional companies are looking to make their first move into crypto,” he explained. Bitstamp’s CEO on Crypto Regulation, Institutional Interest Bitstamp’s global CEO, Jean-Baptiste Graftieaux, shared his view on cryptocurrency regulation in an […]
Metagame’s founder, who’s behind the NFT offering said he has no idea whether it’ll actually incentivize hackers to return funds, but it’ll “be cool if it does!”
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Bitcoin is struggling to recover above $21,500 against the US Dollar. BTC is consolidating and remains at a risk of a move towards the $20,000 support. Bitcoin is consolidating above $21,000 and facing a lot of hurdles. The price is now trading above the $21,200 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $22,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover higher, but upsides might be limited above the $22,000 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price remained well bid above the $21,000 support zone. BTC formed a base above $21,000 and started a consolidation phase. There was a minor upward move above the $21,250 and $21,350 levels. The price was able to surpass the $21,500 level and the 100 hourly simple moving average. However, the bears were active near the $21,640 resistance zone. It seems like the 23.6% Fib retracement level of the main drop from the $24,415 swing high to $20,797 low is acting as a strong resistance. Bitcoin price is now trading above the $21,200 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $21,500 and $21,640 levels. The first major resistance on the upside sits near the $22,000 level. If there is an upside break above the $22,000 resistance zone, the price may perhaps rise towards the $22,500 resistance zone. There is also a key bearish trend line forming with resistance near $22,500 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com The trend line is near the 50% Fib retracement level of the main drop from the $24,415 swing high to $20,797 low. Any more gains might send the price towards the $23,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $22,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $21,000 level. The next major support now sits near the $20,800 level. A clear move below the $20,800 support and the last swing low might spark a fresh decline. In the stated case, the price might decline towards the $20,000 level. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level. Major Support Levels – $21,000, followed by $20,800. Major Resistance Levels – $21,640, $22,000 and $22,500.
Say what you will about Coinbase, as I agree with the concept of “not your seed not your coins,” but at this point Coinbase is becoming pretty damn close to a bank. I’ve had the coinbase card for a long time now and I recently set up my direct deposit, 50% goes straight into BTC,…
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XRP Price was constantly consolidating on its four hour chart. The bulls have faded out from the market but are consistently trying to protect price from falling below the immediate support level. Despite the 1.5% appreciation over the last 24 hours, XRP price doesn’t seem to be out of the woods yet. Over the last one week the coin lost 10% but the coin has maintained its price above the vital support line. Technical outlook for the coin also indicated bearishness. After XRP price lost the $0.39 price level, the altcoin was mostly trading sideways. For the coin to move upwards it is important that XRP moves above the $0.34 price mark. Buying pressure on the chart declined considerably which was a sign of price weakness. With Bitcoin moving down on the chart, other altcoins have also dipped on the chart. If XRP price loses the current support level then further downward movement could be expected over the immediate trading sessions. XRP Price Analysis: Four Hour Chart The altcoin was trading for $0.34 at the time of writing. It is crucial for the coin to maintain its price above the immediate support level of $0.33. A fall below that will make the coin trade at $0.29 which would make the coin trade at a multi-week low. Overhead resistance for the coin stood at $0.37 and if it topples over that price ceiling, the next target was at $0.40. Ever since the coin lost its long holding support of $0.36, the coin has moved southbound. A move above the $0.34 will help XRP gain back some of its lost value. The amount of XRP traded in the last session dropped which indicated that the buying strength dropped on its chart. Technical Analysis The fall in the price of the altcoin has made sellers re-enter the market. XRP price will need help from the buyers in order to move up the chart. The Relative Strength Index was below the half-line which meant that selling strength was higher than buying strength. XRP price however, started to peep above the 20-SMA line which is an indication that price could be recovering over the next trading sessions. At this moment however, buyers were starting to drive the price momentum. Sellers although exceeded buyers at the time of writing. Related Reading: Bearish Indicator: Bitcoin Retail Volumes Show Weakness In Rally The cryptocurrency although registered fall in buying strength depicted buy signal on its chart. This could mean a change in the price action for the upcoming trading sessions. The Moving Average Convergence Divergence indicates the current price momentum and displayed green histograms which were tied of buy signal for the coin. If buyers act on the price, there are chances that XRP price might log in gains proving that the bears could exit the market. The Parabolic SAR also determines the price direction of altcoin. The indicator formed dotted lines below the price which is a sign of change in the current price direction. This meant that XRP price could witness some despite over immediate trading sessions. Related Reading: XRP Price Could Rise If It Clears This Price Barrier Featured image from Currency.com, chart from TradingView.com
SEC Chairman Gary Gensler says that there is no need to treat the crypto market differently from other capital markets. Noting that “the SEC will serve as the cop on the beat,” Gensler encouraged crypto trading and lending platforms “to come in and talk to SEC staff.” SEC Chairman Gensler on Crypto Regulation The chairman […]
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