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Bitcoin (BTC) Bitcoin Cash (BCH) Ethereum (ETH) Litecoin (LTC) Price Analysis – Where To From Here? Get Ready!

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Bitcoin Price
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Since printing another leg lower last Friday (6/22) on large volume as well as moving into our previously noted potential support zones, the entire cryptocurrency sphere has been trading in a side-ways grind over the past five sessions with many beginning to form potential inverted Flag formations, yet again.

If this scenario appears familiar, it is, because we’ve recently seen this movie before as we witnessed similar action on June 10th, whereby we experienced a large move lower on meaningful (large) volume followed by some side-ways grind before resuming the primary trend, which remains lower.

As we can observe from the daily charts below, BTC; BCH; ETH as well as LTC all continue to trade below their 20; 50 and 200-day moving averages with little to zero indications/evidence of turning the tide thus far, which continues to suggest a poor technical posture and unfavorable conditions.

BITCOIN

BITCOIN CASH

ETHEREUM

LITECOIN

As we can observe from the daily time-frame above, Bitcoin; Bitcoin Cash; Ethereum and Litecoin remain in their prolonged downtrend and continue to display poor technical characteristics.

While we may experience and attempt some upside movement in the days ahead and perhaps flirt with the declining 20DMA (yellow line), we suspect that much like a few weeks ago (6/10-6/21), such move, should it materialize, would most likely be rebuffed before another leg lower ensues.

Thus, where do we go from here?

While the daily time-frames continue to portray potential for lower levels, not everything is bleak.

When zooming-out to both the Weekly and perhaps more specifically, the Monthly time-frame/s, we’re nearing an important inflection point from which we suspect that the bleed lower subsides/pauses and in turn, results in a massive counter-trend rally that may begin as early as the next 2-3 weeks.

Nonetheless, we’ll cross that bridge when we arrive and in the meantime, continue to keep readers of Global Coin Report apprised of the technical landscape and what may be in store ahead.

The following levels may be utilized as guides as well as providing evidence/clues with respect to the short-term direction moving forward.

BTC – Potential resistance resides at R1 6300; R2 6425; R3 6850-6900, while potential support can be found at S1 5700 (minor); S2 5400; S3 4900-5000 Zone.

BCH – Potential resistance resides at R1 780; R2  800-825; R3 860-875, while potential support can be found at S1 700-750 and S2 600-650 Zone.

ETH – Potential resistance resides at R1 475-500; R2 525-550; R3 575-600, while potential support can be found at S1 420-440 and S2 350-400 Zone.

LTC – Potential resistance resides at R1 85; R2 92; R3 95-100, while potential support can be found at S1 70-73 and S2 50-55 Zone.

Once again, while we suspect another leg lower to ensue, positive developments await nearby, as we also believe that we’re rapidly approaching levels as well as Time, where both investors/traders are about to witness a rapid/sharp/vicious counter-trend rally that may catch many off guard/balance and travel to levels far beyond what many may anticipate and or comprehend.

Thus, be prepared and ready as we believe it’s only a matter of weeks now before the sea of red subsides and the landscape is littered with green once again.

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 Anastos Kol via Flickr

Charts courtesy of tradingview.com

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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crypto casinos
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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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