BTC/USD Seeking Direction Around 9223: Sally Ho’s Technical Analysis 24 May 2020 BTC
Bitcoin (BTC/USD) attempted to extend its recent upward momentum during today’s Asian session as the pair continued to trade above the 9000 figure after bids emerged around the 8800 area during yesterday’s Asian session. Some minor Stops have recently been elected above the 9196.13 area, representing the 38.2% retracement of the recent depreciation from 9836.99 to 8800.00. Buying pressure also emerged around the 9044.73 area, representing the 23.6% retracement of the depreciating range. Additional upside price retracement levels that traders are monitoring include the 9440.86 and 9592.26 levels. The recent depreciation was quite technical in nature, as the 8820.08 area represented a downside price objective and BTC/USD bears were only able to take the pair as low as the 8800.00 level.
Traders are also paying attention to multiple trading ranges including the recent appreciation from 8106.70 to 9957.25, the appreciation from 6456.00 to 10079.00, the appreciation from 5678.20 to 10079.00, and the broader appreciation from 3858.00 to 10079.00. Important technical levels related to these ranges include 9040.41, 9025.32, 8808.52, 8695.01, 8610.84, 8540.29, 8398.89, 8267.50, 7878.60, 7839.99, 7702.58, 7359.31, and others. Chartists are observing that the 50-bar MA (4-hourly) continues to bullishly indicate above the 100-bar MA (4-hourly) and 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 9460.41 and the 50-bar MA (Hourly) at 9137.26.
Technical Support is expected around 8695.01/ 8540.29/ 8267.50 with Stops expected below.
Technical Resistance is expected around 10079.00/ 10316.39/ 10661.23 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
If reproduced, please indicate the source: http://www.uucj.net/btc-usd-seeking-direction-around-9223-sally-hos-technical-analysis-24-may-2020-btc/
Investors from Silicon Valley to Switzerland are whispering about it. The team behind that project, C Labs, is combining the ethereum and Libra models with a $30 million war chest from the likes of Polychain Capital and Andreesen Horowitz (a16z). And with their stablecoins and reserve baskets, the shared backing of a16z isn’t the only similarity between the two projects. “The Celo mobile app, bringing stable payments and remittances to the unbanked, has a chance to bring broad swaths of people to the world of blockchain technology and crypto, but to also level up the economic well-being of those most in need across the globe,” said Polychain President Joe Eagan. Polychain CEO Olaf Carlson-Wee said in a Reddit AMA: “In the best case, Celo is Whatsapp for money.” To that end, C Labs enlisted the makers of LibraCamp to launch a CeloCamp incubator. Starting in April, the eight-week program will match up to 30 teams with mentors including Jane Lippencott of Winklevoss Capital and a16z’s newest hire, Arianna Simpson. “Hopefully, people will build interesting stuff and we can guide them…Feb 12, 2020
Japan could soon release its proposal to create a central bank digital currency (CBDC) or national cryptocurrency. The main goal would be for the country to be able to effectively compete against Facebook’s Libra and a possible Chinese digital yuan. Japanese Experts Work on CBDC Proposal A few weeks ago, we reported at UseTheBitcoin that there were some Japanese lawmakers that were working in order to create a proposal to release a CBDC. At that time, Reuters explained that the lawmakers of the ruling party were thinking about this possibility so as to remain competitive in a world of new digital currencies. Facebook, the largest social media in the world, announced in June 2019 that they were going to be releasing a virtual currency called Libra. Although it has not yet been released, there is a lot of speculation around it. Indeed, digital assets became used in a large number of industries, including such as gambling or finance, among others. Meanwhile, countries such a China are really thinking about issuing their local virtual currency. This would help them increase their…Feb 6, 2020
Bitcoin (BTC/USD) extended its gradual gains early in today’s Asian session as the pair climbed higher to the 7231.27 area after trading as low as the 7111.00 level during Tuesday’s North American session. Traders continue to exhibit a negative trading bias following the pair’s continued inability to sustain moves to the upside. A move to the 7531.00 area earlier in the week was very short-lived and resulted in the pair moving back below the 7250.00 level. Notably, that move higher stalled just below the 7538.97 area, representing the 76.4% retracement of the 7688.99 – 7053.32 level. Some BTC/USD bulls anticipated some near-term strength following a positive crossover of the 50-bar MA (4-hourly) above the 200-bar MA (4-hourly), but price activity quickly fell below these indicators and tested the 100-bar MA (4-hourly). Some Stops were triggered below the 7203.34 area earlier this week, a level that represents the 23.6% retracement of the recent 7688.99 – 7053.32 range. Traders are eyeing some downside price objectives including the 7059.50 and 6910.93 area, representing the 50% and 61.8% retracements of the 6430.00 – 7688.99…Jan 2, 2020
While Tesla (TSLA) stock has corrected 60% in just over a month’s time, its valuations look to be attractive. With strong fundamentals in place, the stock could be a potential buy for the long term. Since the beginning of 2020, Tesla Inc (NASDAQ: TSLA) stock has witnessed heavy trading volumes on Wall Street and attracted many investors who wanted to buy it. Earlier this year when the markets were roaring to its all-time high, Tesla stock appreciated over 100% up to mid-February. At the time of writing, it is possible to buy Tesla (TSLA) stock for $436.24 (+2%). But today the stock has also managed to hit $477. However, just within a month’s time, Tesla investors had to face a hammer blow with the global markets crashing. The Coronavirus pandemic has taken the global markets on a toss. Just in a month’s time, Dow Jones has corrected from its all-time high of above 29,000 all the way to below 20,000 levels. Well, the Tesla (TSLA) stock has also corrected nearly 60% going to $350 on Wednesday, March 18. However, in…Mar 20, 2020
KuCoin Launches Project Pinocchio with Multiple Blockchain Institutions to Fight against Dishonest Behaviors
On March 27, 2020, KuCoin, an IDG-backed exchange, announced the official launch of Project Pinocchio together with 21 top blockchain institutions around the world. The Project Pinocchio is a neutral and credible alert platform for less trustworthy projects in the cryptocurrency industry. Through the establishment of a crypto credit reporting system, it will prevent malignant business behaviors such as cooperative breach of contract, illegal fundraising, and bad cryptos expelling good cryptos. The Project Pinocchio is committed to creating a fair, just and transparent business environment, and providing a foundation for the healthy development of the blockchain and crypto industry. The Project Pinocchio will introduce the Pinocchio Index as the evaluation standard, and all judgment results will be disclosed based on legal compliance. All information records will be stored on-chain with immutability via blockchain technology, eventually, we will establish a non-profit credit reporting DApp. Johnny Lyu, the CEO at KuCoin said, “KuCoin will start this brand-new credit infrastructure “Project Pinocchio” for the entire cryptocurrency industry to maintain the industry order and promote integrity. This program will contribute to society, which we…Mar 28, 2020
Intelletec Our fast-growing Healthtech company is looking for a Director of Data Engineering for a new area of the business. Have you worked in the Health and Wellness space and have a passion for driving better health and financial outcomes for individuals? Does your passion for building and scaling teams get you out of bed every morning? The Analytics Engineering team is currently looking for an exceptional Director of Engineering to join our team in Wellesley MA/ Hartford CT. POSITION SUMMARY Directs the activities of one or more data engineering teams. Provides operational as well strategic leadership for the design, development, testing and delivery of large scale data centric frameworks and integration. Fundamental Components: Leads development and execution of highly complex and large scale data structures and pipelines to organize, collect and standardize data to generate insights and addresses reporting needs. Leads big data centric migration efforts from on-prem to cloud platforms, hands on experience with cloud engineering and migration. Leverages broad knowledge of market-leading edge technologies and specialized expertise in programming skills such as Python or Java or any…Apr 29, 2020
Bitcoin price may be dropping deeper into a downtrend over the course of the last few months, but the first-ever cryptocurrency is actually much closer now to fair market value than it has been throughout the year. However, as Bitcoin price falls toward fair valuations, the cost of production rises exponentially, and may be part of the cause of the downtrend itself. Bitcoin Price Valued Fairly At Current Levels, According to New Data Chartered financial analyst and staunch Bitcoin supporter Timothy Peterson has shared various metrics from crypto data aggregator CoinMetrics related to the leading cryptocurrency by market cap. Related Reading | Former IMF Economist: Current Bitcoin Trend is “Textbook Echo Bubble” According to the analyst, Bitcoin is currently trading at prices that would be considered “fair” for the cryptocurrency. Prices have fallen back toward levels of fairness, after spending much of 2019 soaring higher than the fair market valuation of what Bitcoin should be priced at. Nearly all of my metrics indicate #bitcoin is fairly valued at current levels. I will be posting different metrics throughout the next several…Dec 19, 2019
Bitcoin’s Value is Likely to Decrease Further as Demand Dwindles due to the Coronavirus » The Merkle News
There are many different opinions on whether Bitcoin should be considered a safe-haven asset or not. Cobra, the co-founder of Bitcoin.org, certainly doesn’t seem to be thinking along those lines. Most Bitcoin enthusiasts are quite familiar with the name Cobra. Bitcoin Isn’t a Safe-haven Asset, Cobra Claims For better or worse, this individual often shares personal thoughts and opinions on all aspects of Bitcoin. Recently, he explained why the world’s leading cryptocurrency shouldn’t be considered to be a safe-haven asset during the coronavirus. It is a sentiment that many others share. Bitcoin is anything but a stable asset, and certainly remains linked to traditional market momentum. Cobra is convinced that cryptocurrencies are not a hedge against traditional finance. Nor will Bitcoin and other assets negate losses from a recession or stock market collapse. In that regard, the coronavirus may have very negative effects on Bitcoin moving forward. It is an asset that, according to Cobra, is primarily purchased when users have an excess of cash. During the coronavirus crisis, that will be anything but the case. As such, demand is…Apr 14, 2020
Bitcoin has been firmly caught within a bout of consolidation over the past few days, largely hovering within the lower $9,000 region It appears that it is decision time for the cryptocurrency, as how its ongoing period of sideways trading resolves could set the tone for where it trends in the weeks ahead This next movement could be quite drastic, as some analysts are noting that it could result in a $1,000+ candle Bitcoin has continued ranging sideways within the lower-$9,000 region. The benchmark cryptocurrency has struggled to garner any decisive momentum in the time following its capitulatory decline to lows of $8,800 earlier this past week. Analysts do believe that BTC is positioned to make a massive movement in the days and weeks ahead. Some traders are noting that the resolution of this bout of sideways trading could spark a large move that leads it to rally or plummet by $1,000 or more. That being said, this consolidation phase’s resolution is likely to define Bitcoin’s mid-term trend. Bitcoin Consolidates as Analysts Watch a Massive Pennant Formation At the time…May 23, 2020
Heath Tarbert who is the chairman of the U.S. Commodities and Futures Trading Commission (CFTC) recently indicated his indecisiveness on the status of Facebook’s Libra either as a security or a commodity. He said this to sources on the sidelines of the CME Group Global Financial Leadership conference on Tuesday. Tarbert indicated the U.S. government’s position on cryptocurrencies and their underlying blockchain technology while explaining how the country is handling the issues surrounding the technology. It appears that Mr. Tarbert has been misquoted during the interview having contrasted Bitcoin’s existence with Libra. While Bitcoin has been around for a decade Libra is still in its infancy as per development. He said that the CFTC is “able to classify that not as a security but as a commodity” and added: “Libra is developing and there are a bunch of unanswered questions – and also the way that it’s structured, linking it directly to a set of national currencies – a very different product.” This, of course, is a fundamentally different position from his predecessor Gary Gensler who had previously indicated that…Nov 21, 2019