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Bitcoin (BTC) Ethereum (ETH) Price Analysis: Here’s What May Signal a Run to $10,000

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Bitcoin
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In Bitcoin (BTC), we have seen another sharp and sudden dip over the past 24 hours that was very quickly bought back up by traders pressing a continuation of the recent trending action. The real question now is this: what does this say about the sustainability of the trend now in place over the past three weeks?

As we take a close look today at Bitcoin (BTC) and Ethereum (ETH), we want to analyze this recent dip and how it appears in the context of the past week of action, which includes another similar dip and recovery.

Bitcoin (BTC)

Price Analysis

  • High: $8216
  • Low: $7640
  • Major Resistance Level: $8,500
  • Hourly MACD: Continued Accumulation

Chart courtesy of tradingview.com

As we have noted, Bitcoin (BTC) has been out in front of the cryptocurrency complex during this recent bout of strength. There should be little doubt that this is still the leader in the space.

As we watch this recent upward trend evolve and mature, we have seen several sharp shakeouts that have, in each case, offering traders a new opportunity to join the trend on the long side in BTC.

However, in each recent case, the reaction leg has fallen short of testing the all-important 200-day simple moving average that hovers just above at slightly less than $8500.

At this point, it would appear that a decisive break above that level in coming days may well unleash a brand new test of the $10,000 level in Bitcoin (BTC).

Ethereum (ETH)

Price Analysis

  • High: $471
  • Low: $427
  • Major Resistance Level: $500
  • Hourly MACD: Mild Oversold Reading

Chart courtesy of tradingview.com

One of the elements that we have been tracking closely in the chart for Ethereum (ETH) is how it responds to tests of a trend line that captures the hourly chart lows put in place during the swings and pivots that have appeared on the chart since late June.

Over the past 24 hours, we may well be seeing that perspective put to the test with a break of that trendline.

This will call into question whether Ethereum (ETH) is able to stay with Bitcoin (BTC) and many of the other stronger coins during this bounce, or if we are instead to see a divergence in the space with a more striking sense of lagging action for Ethereum (ETH) and its associated compadres.

At this point, it’s far too early to say, particularly as this breach of the slope that defines the pivot lows achieved over the past month may well be a shakeout or a head fake to the downside before a more decisive move higher to test key resistance at the $500 level.

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 Bex500 an alternative to BitMEX?

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Bex500
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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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Bitcoin

How Bitcoin Has Changed Online Gaming

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online gaming
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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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blockchain
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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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