Category: Cryptocurrency News

Bitcoin extended losses and traded below $19,200 against the US Dollar. BTC found support near $19,000 and started an upside correction. Bitcoin traded as low as $18,916 and started an upside correction. The price is now trading above the $20,000 level and testing the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it clears the 100 hourly SMA and $20,600. Bitcoin Price Recovers Above $20K Bitcoin price started a fresh decline below the $20,000 support zone. The price even broke the $19,600 and $19,250 support levels. Finally, there was a spike below the $19,000 level. A low was formed near $18,916 and the price is now correcting losses. There was a steady move above the $19,250 and $19,500 levels. The bulls pumped the price above the 23.6% Fib retracement level of the downward move from the $22,499 swing high to $18,916 low. Besides, there was a break above a key bearish trend line with resistance near $19,400 on the hourly chart of the BTC/USD pair. The price even climbed above the $20,000 resistance level. Bitcoin is now trading above the $20,000 level and testing the 100 hourly simple moving average. It seems to be facing resistance near the $20,350 level. On the upside, the price could resistance near the $20,600 level. The next key resistance is near the $20,700 zone. The 50% Fib retracement level of the downward move from the $22,499 swing high to $18,916 low is also near the $20,700 level. A close above the $20,700 resistance zone could set the pace for a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps rise towards the $21,650 level. The next major resistance sits near the $22,000 level. Fresh Decline in BTC? If bitcoin fails to start a recovery wave above the $20,600 level, it could start a fresh decline. An immediate support on the downside is near the $20,000 level. The next major support now sits near the $19,500 level. A close below the $19,500 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,800 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $20,000, followed by $19,500. Major Resistance Levels – $20,350, $20,600 and $20,700.

Swiss post office’s banking unit, the state-owned Postfinance, is reportedly preparing to enter the crypto market. “Our clients want direct access to this market through their house bank.” Swiss Post Office’s Banking Arm to Enter Crypto Market The banking and financial services arm of Swiss Post, the state-owned enterprise responsible for Switzerland’s postal and other […]

The company says it’s planning to continue operations throughout the restructuring process, though withdrawals will continue to be paused at this time.

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Litecoin attempted to rise on its chart, however, the bears were still strong on the chart. Although the coin showed some recovery, technical outlook pointed towards further decline. Bitcoin too has lost steam as the coin plunged below the $20,000 mark. Broader market weakness can be attributed to Litecoin’s downward price movement. Closest support line for LTC stood at $45 and the price of the coin was trading very close to the aforementioned support level. The latest drop in price over the past 4 days have invalidated LTC’s weekly gains. Ever since Litecoin lost the support of $50, the coin has been on a consistent downfall. Buyers have existed the market and that has caused LTC to further plunge in value. With the slightest bit of demand, LTC could push upwards and cross above the $50 price mark. The global cryptocurrency market cap today is $924 Billion, with a 0.2% positive change in the last 24 hours. Litecoin Price Analysis: Four Hour Chart LTC was trading at $48 on the four hour chart. The nearest support line rested at $47 and then $45. The technical outlook pointed towards LTC’s possibility of dipping further on the chart. It might revisit $47 and then could trade at a level lower. The overhead resistance for the coin awaited at $50. If demand for the coin rises then LTC might move above the $50 price level. For the bearish thesis to be invalidated, the coin has to trade above the $51 level for a considerable period of time. The amount of Litecoin traded in the last session dropped indicating a fall in buying strength. Technical Analysis The altcoin noticed a sharp decline in buying strength over the past few days. As soon as LTC lost the $50 support, buyers started to quit the market. In consonance, the Relative Strength Index was below the half-line signifying overpowering of selling pressure. RSI however displayed a small uptick signalling at LTC’s struggle to recover on chart. The price of Litecoin was below the 20-SMA line which meant that sellers were driving the price momentum in the market. It is in indication of bearish pressure. LTC might show signs of upward movement shortly after it declines on its chart further. Related Reading | Bitcoin Bearish Signal: Exchange Whale Ratio Is Trending Up The four hour chart displayed mixed technical outlook for LTC. Chaikin Money Flow determines the capital inflows and outflows. CMF was way underneath the half-line pointing towards extremely low amounts of capital inflows. Awesome Oscillator reads the price momentum and direction of the coin. AO was below the half-line displaying green signal bars. These green signal bars were a buy signal with chances of a potential shift in the price action. For LTC to follow through a reversal, broader market weakness has to decline. Related Reading | Bears Refuse To Budge As Bitcoin Struggles To Reclaim $20,000 Featured image from UnSplash, charts from TradingView.com  

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European Securities and Markets Authority (ESMA) Chair Verena Ross says that the crypto market crash should be a “cautionary lesson” for investors. She noted that there is a “real question” about whether many crypto assets will survive. ESMA Chair on Crypto Risks and Regulation Verena Ross, chair of the European Securities and Markets Authority (ESMA), […]

This challenge was posted 5 hours ago: https://www.reddit.com/r/CryptoCurrency/comments/vyaj4t/how_to_remember_your_12_word_seed_by_spreading_it/ig27rrv/ After setting up an elaborate social game where individual words of the seed are trickled out to commenters who must work with each other, the OP writes as a hint: Last note: I will periodically give out hints below if the seed is not discovered before the…
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