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Bitcoin (BTC) Bitcoin Cash (BCH) Price Analysis: The Straight Dope

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Bitcoin Price
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As the bear market in the cryptocurrency complex rolls on with seemingly inexhaustible selling pressure, it is natural for traders to try and look for technical signals of a bottom before a bottom is actually made.

As we take a close look at the charts for Bitcoin (BTC) and Bitcoin Cash (BCH), it’s important to keep this in mind. As technicians often note, “The trend is your friend, until the end, when it bends.”

This is not meant to be mysterious for the sake of being mysterious. While many things can be counterintuitive in the world of technical analysis, in this case, the picture is relatively straightforward.

Bitcoin (BTC)

Price Analysis

  • High: $6253.7
  • Low: $5898.3
  • 24-Hour Volume: $4.55B
  • 7-day Percent Change: -14.29%

As noted above, the action right now is defined as a bear market context. Indicators and the Bitocin price have rolled over. Coins are trading below major moving averages. And volume is starting to rise on the downside as levels are taken out.

Bitcoin (BTC) has managed to avoid taking out most of its major levels so far, with the $6000 level only taken out last night.

At this point, all eyes are going to be fixated on the $5800 level as a last-ditch support before we start logging new 2018 lows.

Because the retail public and most financial media outlets all focus on the Bitcoin price as being the defining central point of the cryptocurrency complex, new 2018 year-to-date lows may spur some headlines that create the possibility of a self-reinforcing feedback loop of demoralization.

While that sounds like an awful outcome, it may, in fact, be the best thing that could happen right now. It’s important that we shake out the weak hands in coins like BTC and find a new base of support before moving higher so the next rally isn’t a false one.

Bitcoin Cash (BCH)

Price Analysis

  • High: $531.29
  • Low: $474.37
  • 24-Hour Volume: $407.69M
  • 7-day Percent Change: -28.78%

Bitcoin Cash (BCH) had been a clear point of relative strength, forging a bullish ascending triangle (that never triggered) and showing extra gusto during the spiking rallies recorded last month.

However, since then, we’ve seen a series of sloped and lateral support levels broken with ease like a hot knife slicing through butter. Bitcoin Cash (BCH) has become a point of relative weakness during this decline that has lasted over the past couple of weeks.

As should be clear on the chart above, the April lows are now toasted. All eyes will start to fixate far below the $300 level as the important line in the sand if current weakness persists in BCH.

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

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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