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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

Wisebitcoin Launches Professional-Grade Crypto Exchange

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Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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Bitcoin

ISW Holdings Continues to Transition Cash Assets into Bitcoin with $20K Purchase Ahead of Mining Launch

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ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to announce that it is in the process of converting $20,000 of the Company’s cash holdings into Bitcoin. The Company also announces that it will be regularly conducting similar transactions on a quarterly basis to convert a percentage of cash flows into Bitcoin.

Management expects this transaction to be completed this week. The Company began transitioning cash resources into Bitcoin with an initial transaction in March 2019 at approximately $4,000/Bitcoin.

“We believe in the future of Bitcoin and digital payment systems, and cash represents an unproductive asset given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems,” commented Alonzo Pierce, President, and Chairman of ISW Holdings. “We are also on schedule to launch mining operations through our Pod5 solution at the Bit5ive renewable energy project by the end of January.” 

The Company formed a joint venture partnership with Bit5ive, LLC, (“Bit5ive”) in May to build and deliver an elegant, powerful, and efficient data center pod design. The Proceso Pod5ive Datacenter is the result. Designed in partnership with Bit5ive, and geared primarily for the cryptocurrency mining industry, the Proceso Pod5ive Datacenter offers next-generation dynamic self-management functionality, plug-and-play operation, virtually non-existent maintenance needs, and an industry best-in-class 1.06 Power Usage Effectiveness score.

The Company’s first mining pod is set to…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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