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Bitcoin (BTC) Ethereum (ETH) Price Analysis – Is This Do-or-Die Time?

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Bitcoin
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From a technical perspective, several of the most highly liquid and highly traded cryptocurrencies have begun to hint at some interesting new potential on their charts over recent days.

This type of action is not definitive at this stage – there’s very little confirmation. However, the game here is a probabilistic one that involves close scrutiny of past and present chart patterns mixed with the identification of an advantageous risk:reward statistical edge.

From that standpoint, both Bitcoin (BTC) and Ethereum (ETH) are clearly worth a closer look at the present as both coins are starting to show off some very interesting bullish potential provided key levels continue to hold firm.

Bitcoin (BTC)

Price Analysis:

  • High: $7700
  • Low: $7378.26
  • Major Resistance Level: $7750
  • Hourly MACD: Strong Upward Momentum

Naturally, everyone knows Bitcoin (BTC) has been in a serious bear market trend over the past seven months. However, recent action suggests that the potential for some form of upward inflection should be taken seriously.

First off, we have begun to see signs in recent days of the potential for the affirmation of the formation of a higher low at key support. This higher low pivot stands in relation to the late June dive down well beneath the $6000 level in BTC.

The recent hold at that same level over the last few days suggests that the recent break back above 50-day simple moving average and the $7000 level over recent days is a major inflection the market context.

As noted above, given the direction of the trend on the chart over the larger time frame, this is hardly a confirmation, but it is very promising from a technical standpoint. In other words, the action over the past week clearly suggests that Bitcoin (BTC) is beginning to show a set of signals that demand greater focus from active traders over coming days, and the clear possibility that the bear market has run its course.

Ethereum (ETH)

Price Analysis:

  • High: $469.30
  • Low: $454.55
  • Major Resistance Level: $500
  • Hourly MACD: Emerging Upward Momentum


Ethereum (ETH) has been positively divergent to Bitcoin (BTC) over the past several months, meaning that it has been slightly outperforming on a swing for swing basis in relation to the other clear and key events shown on the chart, internally speaking.

And this continues to bear itself out.

As we noted above, Bitcoin (BTC) has been showing some interesting signs of the possibility of a bullish higher low. In fact, Ethereum (ETH) is posting perhaps even more convincing signs of the same phenomenon, and the potential for a break back above the $500 level over the very near term.

In terms of identifying the other side of the equation – risk – one need only look at the trendline formed over the lows made in this coin over the past 3 to 4 months.

While some interesting potential bullish signals may be coming into place for ETH, one getting involved here on a speculative technical basis certainly would not want to stay involved through a move back underneath that trendline.

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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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