Category: Cryptocurrency News

Bitcoin extended losses and traded below $20,000 against the US Dollar. BTC could revisit the key $19,500 support zone, where the bears might be tested. Bitcoin is following a bearish path below the $20,500 pivot level. The price is now trading below the $20,500 level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might find support near the $19,500 and $19,350 levels. Bitcoin Price Extends Losses Bitcoin price started a fresh decline after it failed to stay above the $22,000 level. There was a steady decline below the $21,200 and $21,000 levels. The price moved below the 61.8% Fib retracement level of the upward move from the $19,301 swing low to $22,500 swing high. Besides, there was a break below a major bullish trend line with support near $20,500 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below the $20,500 level and the 100 hourly simple moving average. It even settled below the 76.4% Fib retracement level of the upward move from the $19,301 swing low to $22,500 swing high. However, there is a major support waiting near $19,500. On the upside, the price could resistance near the $20,000 and $20,150 levels. Source: BTCUSD on TradingView.com The next key resistance is near the $20,500 zone (the recent breakdown zone). A close above the $20,500 resistance zone could set the pace for a test of the 100 hourly simple moving average. Any more gains might open the doors for a move towards the $21,750 level. The next major resistance sits near the $22,000 level. More Losses in BTC? If bitcoin fails to start a recovery wave above the $20,150 level, it could continue to move down. An immediate support on the downside is near the $19,580 level. The next major support now sits near the $19,300 level or the last swing low. A close below the $19,300 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,500 level. 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 in the oversold zone. Major Support Levels – $19,600, followed by $19,300. Major Resistance Levels – $20,150, $20,500 and $21,750.

While many indicators suggest that the market bottom may be close, time will be the ultimate determinant, according to a new report from Glassnode.

“Even though the tradecraft is not perfect right now… it’s still a fresh market for North Korea,” says former CIA analyst Soo Kim.

Playboy is set to add to its Web3 offerings by launching a ‘MetaMansion’ that will host gaming, social and programmed events, along with future NFT collectible releases from the firm.

The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October. FSB to Present Robust Crypto Regulatory Framework to G20 in October The Financial Stability Board (FSB), an international body that monitors and […]

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Ethereum over the past few weeks has registered multiple rejections at $1,280. It continues to aim toppling above the aforementioned price level. ETH has been trading in a downward channel since July 8. Over the last 24 hours, Ethereum lost 3.3% which to an extent has reversed its weekly gain considerably. Technical outlook remains bearish on the short time frame. The pullback that Ethereum faced multiple times could possibly catapult price higher. In that case, ETH might target resistance levels above the $1280 mark. The two other strong barriers for the coin stood at $1420 and $1540. Broader market strength can help Ethereum regain momentum, Bitcoin too, has been struggling at the $20,000 price level. This has caused most altcoins to follow the same price movement. Buying strength would also start to pick up once Bitcoin displays signs of recovery on its chart. Currently, sellers continue to dominate Ethereum. Ethereum Price Analysis: Four Hour Chart ETH was trading at $1,140 at the time of writing. It breached its support level of $1,170 and inched closer to its critical price floor of $1,000. The coin encountered a total of three price pullbacks at the $1,280 level. Another pullback might cause ETH to push above the $1,280 level. The barriers following $1,280 stood at $1,440 and $1,540 respectively. In case ETH fails to sustain above the $1,140 price level, it could plunge to $900. The possibility of the same cannot be ruled out given the market conditions. Volume of Ethereum traded declined significantly signalling that buying pressure has fallen due to bearish pressure. Technical Analysis ETH registered sharp decline in buying strength over the past few days. In accordance with the same, the Relative Strength Index painted a similar picture. RSI sloped downwards and was seen below the half-line. A reading below the half-line signifies increased selling pressure in the market. Price of ETH was below the 20-SMA line, this indicated that the asset underwent a sell off. Sellers were responsible in driving the price momentum in the market. Related Reading | TA: Ethereum Revisits Key Support, Can The Bulls Protect More Losses ETH’s buying pressure has remained low and the same has been demonstrated on its four hour chart. Moving Average Convergence Divergence indicates the price momentum and a reversal of the same. MACD underwent a bearish crossover and displayed red histograms. The red histograms are tied to a sell signal. This explains the sell-off that Ethereum has been witnessing. Bollinger Bands depict the price volatility of the asset. Bollinger Bands slightly opened up which could be amounted to an anticipated fluctuation in the price of the asset. In case of a further fall, ETH is eyeing $1,000 and on the flipside, the digital currency could manage to break past the $1,280 resistance line. Support from buyers remains crucial for Ethereum. Related Reading | TA: Bitcoin Price Trims Gains, Key Breakdown Support Nearby Featured image from UnSplash, charts from TradingView.com

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Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.   Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading,…
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The exchange Mt. Gox, that once handled over 70% of all bitcoin transactions, went bankrupt in 2014, after losing 86% of its funds due to a security flaw. And next month in August-2022, they will start paying back their customers with the 130k bitcoin they still hold (worth today ~2.6 billion USD) As a comparison:…
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