Category: Cryptocurrency News

Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone. Bitcoin struggled to rise above $21,200 and declined towards $20,650. The price is now below the $21,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $20,650 zone. Bitcoin Price Remains At Risk Bitcoin price failed to clear the $21,500 resistance zone and started a fresh decline. The price declined below the $21,200 and $21,000 levels. There was a clear move below the 50% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. There was also a close below the $20,800 level and the 100 hourly simple moving average. Bitcoin tested the $20,600 and $20,500 support levels. It is now consolidating near the 61.8% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. An immediate resistance on the upside is near the $21,920 level. The next key resistance is near the $21,000 level. There is also a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC/USD pair. A clear move above the $21,000 level might start a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price could rise above the $21,250 level. The next major stop might be near the $21,780 high, above which the price may perhaps rise towards the $22,500 level. More Losses in BTC? If bitcoin fails to clear the $21,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,650 zone and $20,500. A downside break below the $20,650 support zone could start a major decline. In the stated case, the price might slide towards the $20,000 level. Any more losses could set the pace for a move towards the $19,200 level or even $18,800 in the coming sessions. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $20,500, followed by $20,000. Major Resistance Levels – $20,920, $21,250 and $22,500.

The alternative investment group is banking on the “CeDeFi exchange” to shape the “future of finance” with a commitment that will bolster Unizen’s ecosystem.

Gensler said he saw many crypto assets having attributes of a security, adding that Bitcoin is the only crypto he was comfortable publicly labeling as a commodity.

The Federal Bureau of Investigation (FBI) has arrested two men who participated “in a violent plan to break into a family’s home in the middle of the night” to steal bitcoin worth tens of millions of dollars,” according to the U.S. Department of Justice. They could go to prison for 20 years. 2 Men Charged […]

The exploiter seems to have rejected the Harmony team’s bounty offer of $1 million to return the $100 million stolen from the Horizon Bridge token bridge.

submitted by /u/ImaFreemason [link] [comments]

Canadian investors represented a hefty $487.5 million worth of outflows for crypto investment products, with the figure partially offset by $70 million worth of inflows from five other countries.

Dogecoin’s price has been optimistic over the last week. The coin secured double digit gains over the last seven days, it rose by nearly 20%. The meme-coin has been experiencing rigid resistance at the $0.07 level and if it trades around the current price level, it could fall to its next support line of $0.05. The bulls have tried to show signs of recovery as the coin tried to move upwards slowly over the past few days. On the shorter time frame, DOGE has lost some of its market value. Over the last 24 hours, Dogecoin depreciated by 4%. Technical outlook for the coin has also depicted some bullishness as the coin went north by almost 20%. Buying strength also recovered over the last week, but as the meme-coin depicted some bearishness over the shorter time frame, currently sellers are more in number. Even though on the four-hour chart DOGE depicted negative price movement, the coin has displayed a bullish reversal pattern. The global cryptocurrency market cap today is $979 Billion with a 2.9% fall in the last 24 hours. Dogecoin Price Analysis: One Day Chart DOGE was priced at $0.072 on the one hour chart. The coin has been stuck at the same resistance level for a couple of weeks now. A fall from the current price level will push Dogecoin to $0.060, failing to stay above which the coin can attempt to trade at $0.047. Overhead resistance for the coin stood at $0.08 and then at $0.09. On a relatively longer time frame, the coin has formed a bullish reversal pattern. The pattern is called the BARR Bottom pattern. The BARR Bottom pattern is referred to as a bump-and-run reversal bottom pattern. This technical pattern is tied to an extended trend reversal in an ongoing bear market. The pattern is characterised by three phases which are the Lead-In phase, Bump and finally the Run phase. At the current moment, Dogecoin was in the bump phase which will be followed by the run phase that will overturn the bearish price action. If this happens the coin could touch the $0.090 and then the $0.011 level. Volume of Dogecoin traded fell indicating that the buying strength has fallen on the chart. Technical Analysis DOGE was inclining towards a bearish price action. It even formed a rising wedge pattern on the four hour chart. The Relative Strength Index also depicted a downtick signifying that buyers were fading out of the market. A rising wedge pattern is tied to a bearish price signal. It could be possible that over the immediate trading sessions DOGE might register some bearishness. On the longer time frame, the coin could recover. On the 20-SMA indicator, the coin was above the 20-SMA line. This indicated that despite falling buying pressure, buyers were still driving the price momentum. Related Reading | TA: Ethereum Bulls In Control, Why ETH Could Clear $1,300 In consonance with the technical outlook on the four-hour chart, the coin registered a sell signal. The Awesome Oscillator which depicts the price momentum painted a red signal bar. The red signal bar is tied to a sell signal on the chart. Parabolic SAR indicates the current trend and also the trend reversals. Dotted lines underneath the candlesticks are a signal of bearishness on the chart. It could be so that that the coin might dip over the immediate trading sessions and then move upwards. Related Reading | Cardano Formed This Pattern On Its Chart, Where Is The Coin Headed? Featured image from Unsplash.com, chart from TradingView.com

I am curious to hear feedback from others on this subject. My feeling is that Gensler probably thinks it's not a security but it's a little to close to others in the space to mention it without providing any rationale. Any other thoughts? submitted by /u/Old_Chip3003 [link] [comments]

submitted by /u/AftonCoger [link] [comments]