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Bitcoin, Bitcoin Cash Price Analysis: Pausing for Direction

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Bitcoin

Bitcoin, experiencing bull run, moved beyond $7300 USD and shows positive signs.

Bitcoin Cash showed a decline after reaching the $840 level and is correcting its position.

Bitcoin (BTC/USD)

Price Analysis

  • High: $7414.85 USD
  • Low: $7281.42 USD
  • Major Resistance Level: Near $7600
  • Hourly MACD: Placed in the Buy region with a positive attitude.

Chart courtesy of tradingview.com

“I think then you will have something that will end up being somewhere around $20,000-$40,000” Marc Lasry, co-founder of Avenue Capital Group on CNBC regarding Bitcoin price.

The BTC/USD pair is currently in the mood of setting a short-term bullish flag pattern where the support slightly above the $7300 level, as can be observed from the chart. Bitcoin (BTC) has been gradually progressing towards the green from 14th July 2018, and the BlackRock news seems to have strengthened it on 16th July when the price surged upwards to a little above $6730 USD.

At the time of writing on 19th July 2018, the price action of the BTC/USD pair shows an uptrend even while it keeps consolidating the position. At the time of writing, as can be seen from the chart, the price of Bitcoin shows $7380.02 USD. The moving average (blue line) marking at 6695.1433 indicates the price, at least for the time being, is most likely to move upward.

Yesterday, the weak support at the $7400 level had failed to gain strength and had thus required lower corrections. This had made the space a little more volatile with the formation of slight bearish trends today some time. The corrections will most likely continue until the price settles strongly above the major resistance line near the $7400 level. Meanwhile, the hourly MACD shows that the crypto coin is placed slightly in the Buy region.

Bitcoin Cash (BCH/USD)

Price Analysis

  • High: $831.2 USD
  • Low: $803.4 USD
  • Major Resistance Level: $900
  • Hourly MACD: Placed slightly in the Sell region.

Chart courtesy of tradingview.com

Holding onto the green candles till 17th July 2018 from 13th July 2018, the BCH/USD pair had shown bearish signals yesterday. At the time of writing, however, the price of Bitcoin Cash (BCH) shows $824.9 USD and is sporting a small green candle. As of now, it can be said that the pair is testing the $800 support region.

On 17th July, the Bitcoin Cash price had reached above the $850 resistance against the US dollar. A high had formed neared the $890 level with an eye on the $900 resistance level. The chances of continuing in the upwards direction for the BCH/USD pair depends on how it strengthens on the $800 support line, currently.

The moving average (blue line), at the time of writing, marks at 757.2333. This also indicates that the pressure has bordered on the sellers that have placed the crypto coin slightly in the Sell region. If the position strengths then, it will again create a pressure on the buyers.

Both Bitcoin (BTC) and Bitcoin Cash (BCH) are correcting their positions against the US Dollar at the time of writing and is trying to create a stronger support line.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Bitcoin

Is Bitcoin Esport Betting the next big thing in BTC Casinos?

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Bitcoin Casinos

Ever since the creation of the first sport games, people started enjoying the betting process. As the sports grew more popular around the world, so did the betting community and other than the physical betting shops, online sportsbooks have also started to emerge. Around 5 years ago the crypto gambling industry also made strides to join the fun and Bitcoin Casino started pouring its resources into providing proper sportsbook experience for their communities of players. For several years the things were steady and the concept of Bitcoin Betting was growing exponentially. Although recent events have significantly halted the progress of sports and betting, the new alternative started gaining traction in the gambling world, and that alternative was the Esport Betting. 

How did Esport Betting become so popular?

The beginning of 2020 was unprecedented for the history of mankind and all the global business, including the gambling industry. In the month of March, most of the sports stopped because of the ongoing global Covid-19 pandemic and betting services witnessed huge losses. That’s where the Bitcoin Casino industry found a viable alternative in the virtual sport segment. Because of that, Esport Betting has become increasingly more popular and the biggest BTC Casinos started providing a huge selection of tournaments in their sportsbook section.

How to participate in Esport Betting?

Esport Betting is basically the same process as the usual sports betting.…

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Bitcoin

Bitcoin is Steadily Changing Our Lives in the Greatest Ways Possible

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Bitcoin

Bitcoin has already brought our world some of the most incredible innovation we have seen, but the best is yet to come. 

Bitcoin, cryptocurrencies, blockchain. While often regarded as mere industry buzzwords are actually the fundamentals of something far greater. Things like borderless currency, decentralized business, open-source software, collaborative technology, shared computing. These are just a scant few of the underlying principles that are taking our technology and daily lives into the future. Should these sciences be embraced, it will be a bright future indeed. 

It has become ever more transparent that humans today are living in fear. If nothing else, 2020 has brought the tidal wave of anxiety and distrust that many live in the shadow of, to a terrifying apex. We are all just waiting for the crash. While some flock to literature, or social media, or their favored news outlet, others flock to exchanges. Using platforms like the newbie friendly Bitvavo to place their bets on the future, on what could be, and what already largely is. Bitcoin and the technology that underpins its innermost workings are a preparation for a better tomorrow. An investment in a future that is already changing our lives today. 

The Point Behind the Hype 

In 2008, when Satoshi Nakamoto wrote the bitcoin white paper, few paid attention. It took years to…

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Bitcoin

AAX Crypto Exchange Announces Massive Growth Numbers in August

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AAX Exchange

As the crypto market continues to surge, new traders continue to enter the market on a daily basis.  One of the first questions that new traders have is where should they trade crypto.  While there are countless options for buying and selling digital assets, traders need to exercise extreme caution and perform due diligence to avoid scam exchanges as well as places that have limited or no volume.  While the main platforms such as Coinbase, Binance, and Bittrex will always have significant volume, their fees are known to be on the expensive side.  AAX, a next-generation cryptocurrency exchange with the lowest futures fees in the world, represents a compelling alternative that traders should consider.

Growth Announcement

A few of the most important issues to consider when deciding whether to use an exchange are the number of users and the volume.  On August 7, AAX announced that in a little over two weeks, the exchange doubled its user base bringing the grand total of registered users to over 200,000.  At this rate, AAX may surpass the million mark later this year which would be an incredible achievement and is most certainly due to a variety of factors including extremely low fees and revolutionary technology.

Institutional-Grade Exchange

When AAX decided to build its platform, it set out to meet the demands of both institutional and retail investors.  In order to achieve that goal, the exchange operates at the highest possible…

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