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Bitcoin (BTC) Bitcoin Cash (BCH) Ethereum (ETH) Litecoin (LTC) Cardano (ADA) Tron (TRX) Technical Analysis – Inverted Pennants

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After last week’s dive to lower depths, whereby the entire cryptocurrency universe was treated to yet another sharp leg lower, there has been little to no meaningful bounce out of the recent lows, thus far.

While we certainly expected/suspected a more vibrant bounce in order to work-off the short-term oversold conditions, we’ve yet to witness such action and in fact, the entire cryptocurrency landscape appears content in consolidating the recent leg lower via side-ways grind.

As a result, we’re starting to see numerous names, both large-cap as well as some of the Altcoins, beginning to carve-out inverted pennant formations as we can observe from the charts below.

Although such formations remain in development and have as of yet to break either topside or to the downside, it’s evident that the formation of such pattern continues to tightly coil where we suspect that it’s only a matter of time before these pennants witness resolution.

That being said, let’s take a quick look at the following technical posture of but a handful of names that continue to display the inverted pennants.

BITCOIN

BITCOIN CASH

ETHEREUM

LITECOIN

CARDANO

TRON

As we can witness from the above charts, each sports the inverted pennant formation. While we’re not specifically isolating this phenomenon to those solely referenced above as we could all but showcase another several dozen that remain in an identical technical posture, due to time and space constraints, we wanted to provide readers of Global Coin Report merely a visualization of what is taking place throughout the landscape.

In addition to the developing short-term inverted pennant formations throughout awaiting resolution, it’s quite obvious that bearish conditions remain from a cyclical perspective within the context of a much larger secular bull when you zoom-out the time-frames to a monthly technical glance.

Nevertheless, both investors/traders may want to continue to monitor the action of the here-and-now, which is suggestive that we are going to witness a resolution in one direction or the other in the days ahead.

While we suspect that resolution favors a breach out of the pennants to the downside, as investors/traders, we must always defer to the action of the market itself and leave our biases at the door and be prepared for any and all potential outcomes via proper risk management mitigation measures.

Therefore, for those short-term traders, continue to keep things on a tight leash and honor Your Stops, while for those longer-term investors, patience and discipline remains in order until and or unless the storm clouds subside awaiting the dust to settle.

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

Basic Guide on How to Spend Bitcoin and Other Cryptocurrencies

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Bitcoin and other cryptocurrencies
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In recent years, Bitcoin and other cryptocurrencies have entered more into the mainstream. Most people walking down the street have at least heard of Bitcoin. While a lot of people got involved in the buying and selling of cryptocurrencies to try and make a quick buck, most people who are enthusiastic about the world of blockchain are in it for the long haul. 

These are usually the people who are going to be more likely to actually use their Bitcoin and other cryptocurrencies as a payment tool and not just as a storage of wealth or a trading tool. This guide looks at a few different ways in which you can use your Bitcoin in spending capacity. 

Crypto Debit Cards

Perhaps the easiest way for you to spend your cryptocurrency is by linking up your holdings to a debit card. 

These days, many of the leading card providers such as MasterCard and Visa have these types of crypto-linking debit cards. These cards can be used just like you would a normal debit card that is linked to your fiat currency bank account. 

Naturally, the most popular type of crypto debit card is going to be for Bitcoin, but there are other cryptocurrencies catered for also. 

Prepaid Cards

There…

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Bitcoin

Hybrid Bitcoin Casinos or Bitcoin-Only Casinos – Which Are Better?

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The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method

Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.

This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.

Advantages of Hybrid Bitcoin Casinos

Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time. 

They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio. 

If you decide to join an online casino of this type, you will be able to enjoy the following benefits.

Lower Risks

Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.

They are known for protecting the customers and monitoring all actions…

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Bitcoin

Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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