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XRP Bitcoin Cash (BCH) Price Analysis – The Karate Chop Opportunity

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XRP
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It would appear as though the entire cryptocurrency space is reacting to recent news suggesting another denial by regulators of a Bitcoin ETF.

Unquestionably, this is impactful news, but it should hardly be seen as entirely unexpected, and therefore may be having an effect on crypto charts that represents an opportunity in the making.

So let’s turn to the charts. We’re going to focus here on XRP and Bitcoin Cash (BCH), and attempt to read the tea leaves as we explore this narrative.

XRP (XRP)

Price Analysis:

  • High: $0.45094
  • Low: $0.44740
  • Major Resistance Level: $0.50
  • Hourly MACD: Tightening Lateral Consolidation

Chart courtesy of tradingview.com

We continue to see XRP as locked in a knock-down-drag-out fight with the $0.50 level. But before it’s able to land a punch, it needs to cleanly surmount the $0.48 level, which hasn’t happened in nearly a week.

What we do see in recent action is a series of higher lows perhaps coiling up under that level with the potential for a sharp breakout that could bring the coin back up to test the $0.52 level in short order if the bidding feeds on itself once the level is taken out.

Technical analysts often refer to concepts such as this. It represents chart behavior that shows something of the underlying emotion built into the chart and the population of traders most heavily focused on it.

After all, a chart is nothing but a record of highly important decisions by a crowd of people.

In the case of XRP, there is a tremendous amount of emotion built into this chart, and the move above a key level at this point could unleash that emotion and drive the action in a self-reinforcing feedback loop, making this a potentially powerful setup at present.

Bitcoin Cash (BCH)

Price Analysis:

  • High: $801.80
  • Low: $790.00
  • Major Resistance Level: $875
  • Hourly MACD: Downside Jolt

Chart courtesy of tradingview.com

Bitcoin Cash (BCH) has put together a series of rising low pivot points over the last two weeks that have begun to bunch up underneath the $800 level in a potentially important fashion.

While the very short term candlestick pattern has shown us a slightly bearish lean in BCH, if you step up one time frame, you will find that the trendline defining recent lows over the past several weeks is a far more important indication.

A flat top to a pattern that has shown rising lows underneath it creates a sense of something coming to a head.

If we see BCH get itself back above the $800 level, we could be in for some fireworks.

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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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crypto billionaire
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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