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Bitcoin, Bitcoin Cash Price Analysis: Trading in the Green

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Bitcoin
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Bitcoin is going strong and has crossed the major resistance level of $8000 for the first time since May 2018.

Bitcoin Cash has broken the barriers at $820 and $840 resistance levels and continues to show a stronger uptrend.

Bitcoin (BTC/USD)

Price Analysis

  • High: $8341.83 USD
  • Low: $7695.99 USD
  • Major Resistance Level: Near about $8400
  • Hourly MACD: Placed in the Buy region.

Chart courtesy of tradingview.com

Bitcoin has jumped from yesterday’s high of $7809.00 to a whopping high of $8341.83 against the US Dollar so far today. From 14th July 2018 onwards, the price of Bitcoin (BTC) has been experiencing an uptrend largely with short-term pressure on the sellers. Since almost the beginning of January 2018, Bitcoin and many other cryptocurrencies market had been affected by the drop in prices. So, this surge experienced by the crypto coin today can be expected to bring in more investors and create a stronger pressure on the buyers. This will keep the BTC/USD pair in the green and the pair will then continue with the uptrend.

At the time of writing, the price of Bitcoin (BTC) shows nearly $8340.00 against the US Dollar. (As of 24th July 2018). The moving average (blue line) is currently marking at 7454.7967. This too indicates that the price of the BTC/USD pair has more or less strengthened itself near the $7500 level. It is to be seen whether the BTC/USD price will reach the major resistance level near about $8400. If Bitcoin finds support above $8050 then, it can be expected to provide anchorage in case there is a trend reversal.

Bitcoin Cash (BCH/USD)

Price Analysis

  • High: $876.4 USD
  • Low: $772.0 USD
  • Major Resistance Level: Near about $870
  • Hourly MACD: Placed slightly in the Buy region.

Chart courtesy of tradingview.com

The BCH/USD pair had been featuring a short-term uptrend again from 13th July 2018 and continued till 17th July 2018. After that, as observed from the chart, there has been a pressure on the sellers and Bitcoin Cash had experienced a price drop. On 20th July 2018, the BCH/USD pair had experienced a drop to $760.6 from the previous day’s high of $803.4. On 22nd and 23rd the market was also bearish for Bitcoin Cash.

Today, again the price of BCH has surged so far to $869.8 against the US Dollar. (At the time of writing, as of 24th July 2018) The moving average (blue line) is currently marking at 810.4444. This has created a pressure on the buyers that make the technical analysis from Trading View to place the crypto coin slightly in the Buy region. The market for BCH/USD pair at the time of writing is bullish and a comparatively large green candle has formed beside the past two days’ short bearish red candles. Tomorrow again a pressure may form among the sellers and push the price down a little bit, as of now the uptrend is going quite strong. It may also happen that the price action of BCH/USD continues to feature a stronger uptrend. Let’s wait and see for the moment.

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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Bitcoin

New Tendencies of Bitcoin Gambling

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Bitcoin gambling
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Gambling has always been an integral part of human nature. Nothing is sweeter than the money you win, and that’s why wagering games have always captivated people throughout history. Last couple of decades saw the gamblers switch increasingly towards virtual gaming, instead of physically being inside a casino. The popularization of online casinos led to the integration of Bitcoin Gambling into the systems and today a very large share of the casino industry is based on the virtual currency.

Reasons behind the transition

The tendency to switch from classic casino environment was dictated by the fact of mobility and accessibility. But the new age has brought us cryptocurrencies like Bitcoin that revolutionized the gambling business. From now on, the gamblers of the world don’t have to rely on traditional banking transactions to be able to enjoy themselves online. A simple crypto-wallet and ownership of virtual currency is enough to engage in Bitcoin Gambling.

Bitcoin Gambling and Blockchain Technology

The big reason for the heavy shift towards Bitcoin Gambling is the fact that Bitcoin and other cryptocurrencies are based on the blockchain technology. This means that the process is decentralized, resulting in a much faster speed of transactions, when it comes to depositing or withdrawal of funds in or from the casino accounts. It also makes gambling incredibly secure,…

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Bitcoin

Bitcoin will return to the bear market? Bex500 senior investor teaches you how to get profit in the Bear market

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—— Don’t forget to join Bex500 bonus program at the bottom of the article.

Since September, the Bitcoin price has been decline from beyond $10000 to below the $8000, which 20% of the bitcoin value has been removed. The collapse of bitcoin price brings about the new panic in the bitcoin trading market. Many bitcoin investors are scared of the returning bear market as the early of this year. On the contrary, some of the bitcoin-believer, especially the investor who brought Bitcoin in the height of the price still thought that the bitcoin price will rebound very soon. However, it is no doubt that the early stage of the bear market has been shown up in the past month. Many crypto analysts start to predict the bottom price of this market movement.

However, as the market developed, crypto traders have detected more tools to safely pass through the bear market. They realized more ways to avoid the loss of the price decline; moreover, they began to earn profit from the bear market. The key to the tools is the bitcoin futures contracts. We are honored to make an interview with Bex500 senior investor Tom Beck and he introduces the details about bitcoin futures contracts. (Reporter=R, Tom Beck=T)

R: Hi, Tom, Thank you for accepting our interview, Could you introduce yourself?

T: Sure, My name is Tom, I have over…

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