Correction Inevitable? Bitcoin Paints a ‘Shooting Star’ Pattern on Key Timeframes
The new weekly and monthly Bitcoin price candle kicked off with a powerful move to the upside, but yesterday was rejected with force.
Although it is extremely early in each trading session, the recent price action has left behind a Shooting Star doji on weekly and monthly timeframes, which could signal that a larger correction is inevitable.
Early Session Bullish Advance Rejected Back Down By Bears
Over the last three months, Bitcoin has climbed from lows set on Black Thursday at $3,800 to as high as $10,400. Despite over an over 150% climb, the leading cryptocurrency by market cap continues to struggle with resistance above $10,500.
After Sunday night’s important weekly and monthly close – which arguably closed bullish – Bitcoin price surged to over $10,000 in an over $600 move that took less than one hour to play out.
style=”display:block; text-align:center;” data-ad-layout=”in-article” data-ad-format=”fluid” data-ad-client=”ca-pub-4791668236379065″ data-ad-slot=”8840547438″>,
If reproduced, please indicate the source: https://www.uucj.net/correction-inevitable-bitcoin-paints-a-shooting-star-pattern-on-key-timeframes/
Facebook Libra and Calibra wallet that goes with it have undoubtedly faced more opposition and controversy than any other stable coin and that too before it is even launched. From the United States government to international banking organizations and the G-7 countries have mostly been critical of the stable coin being launched by Facebook Inc, albeit in collaboration with ninety-nine other investors. Facebook Libra and Calibra connection For those still unaware Facebook Libra and Calibra are both parts of the same project. Where Libra is the blockchain that would gear the Libra stablecoin Calibra would be the wallet that would come with the stablecoin as the norm demands. Facebook Libra and Calibra connection, however, is deeper than a regular stablecoin and wallet. A Cindicator report on Facebook Libra states that where the Libra blockchain is not completely decentralized, it has some level of decentralization since the hundred (100) investing companies get one vote each. On the other hand, Calibra is controlled by Facebook; therefore, it is neither decentralized nor makes people feel any safer about their wallets. Similarly, where the…Sep 9, 2019
A growing number of Bitcoin analysts are sounding the alarm about the need for the flagship cryptocurrency to prove its worth during the current financial crisis. They assert that now is the time for the decentralized asset to prove its resiliency amid an increasingly unstable global economy. Global Conditions Open the Door For Big Gains Tone Vays, a long-time Bitcoin maximalist, has tweeted a video from last June where he sounded an alarm about the rapid price increase to over USD $13,000. Vays noted at the time that such quick value jumps usually led to major corrections: Flashback: June 2019 when $BTC hit $13,800 – “I didn’t think it was possible to drop back down to $3,000 but I do now” –@UglyOldGoat1 – “I can see a prolonged #Bitcoin Bear Market for 6-9 Month” For full video https://t.co/EllkLEpEHl pic.twitter.com/fOTjdFgOT6 — Tone Vays – TheFinancialSummit.com (@ToneVays) March 28, 2020 The key takeaway from this video is that Vays at the time asserted that in 6-9 months Bitcoin should start to recover from any price drop. Now is the time, of course,…Mar 29, 2020
Kane limped off with a hamstring injury during Wednesday’s loss to Southampton. Tottenham do not have a like-for-like replacement for the England international. One win in four games has left Spurs six points adrift of the top four. It was injury added to insult. In the 74th minute of Tottenham’s clash with Southampton on New Year’s Day, Harry Kane had the ball in the net. Spurs thought they had equalized. Instead the goal was chalked off after a VAR intervention. Moments later, Kane hobbled off having injured his hamstring while stretching to turn the ball home. The extent of the injury is not yet clear. But as Mourinho said afterwards, “hamstring is always negative”. Kane left St Mary’s on crutches. Tottenham fans will be anxiously awaiting the outcome of a scan likely to be held on Thursday. Spurs slumped to a 1-0 defeat against Southampton, a team that had previously won just two Premier League home games all season. They are now six points adrift of Chelsea in the final Champions League qualification spot. It’s not an exaggeration to say…Jan 3, 2020
The crypto industry has yet to evolve from exchanges which are nothing more than digital banks in reality. A couple are taking bold moves to slash their fees but how many others will follow and how will it affect the wider crypto industry. Crypto Exchanges: Banks in Disguise True financial decentralization should consist of direct peer to peer transactions and more decentralized exchanges (DEXs), yet still centralized exchanges reap the profits like their banking counterparts. Over the past year or two centralized trading platforms such as Coinbase and Binance made millions. Profits for Binance are easy to estimate considering the exchange burns 20% of its profits every quarter. The last time this happened was in October this year when 2 million BNB went up in smoke which equates to an estimated third quarterly profit of $185 million. Coinbase is a little coyer when it comes to the firm’s vast earnings from some of the highest fees and spreads in the industry. Reports estimated that it cleared a billion dollars in 2017 and made around $520 million in revenue in 2018…Dec 10, 2019
Cointelegraph Launches Consulting Division to Drive Enterprise Blockchain Adoption, Partners With Insolar and VeChain
Cointelegraph, the leading publication for blockchain and cryptocurrency news, has announced the launch of its Cointelegraph Consulting division. The new business sector is focused on advancing enterprise blockchain adoption by helping companies understand the potential of blockchain technology and then matching them with enterprise blockchain vendors to implement solutions. According to Gartner, the business value added by blockchain will grow to more than $176 billion by 2025. This number is expected to exceed $3.1 trillion by 2030. While the growth of enterprise blockchain is on the rise, traditional consulting firms are just becoming familiar with the blockchain space. Given Cointelegraph’s six years of expertise covering the blockchain industry, the company believes that it is best positioned to boost enterprise blockchain adoption by educating and connecting customers with leading blockchain vendors. Its wide network across blockchain startups and technology leaders will facilitate this endeavor. Cointelegraph Consulting is initially partnering with Insolar, a provider of scalable private and public blockchain solutions focused on North American and European enterprise markets, and VeChain, which powers Walmart China’s blockchain platform, along with Foodgates’ blockchain food…Dec 4, 2019
Ripple is currently recovering above $0.2325 against the US Dollar and bitcoin is trading above $8,700. XRP price is likely to surge towards $0.2500 or $0.2600 once it clears the $0.2400-$0.2420 resistance. Ripple price is showing a few positive signs above the $0.2320 area against the US dollar. The bulls seem to be facing a couple of hurdles near the $0.2400 and $0.2420 levels. Yesterday’s followed important bearish trend line is active with resistance near $0.2385 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is likely to start a strong rally if it settles above the $0.2400 resistance area. Ripple Price To Continue Higher After forming a support base above $0.2240 and $0.2260, ripple started a decent increase against the US Dollar. XRP price broke the $0.2320 resistance area and the 100 hourly simple moving average. Furthermore, there was a break above the 23.6% Fib retracement level of the downward move from the $0.2540 high to $0.2240 swing low. However, the price faced a strong resistance near the $0.2400 area and it seems to…Jan 22, 2020
Bitcoin (BTC) futures traders generated at least $20 billion in daily volume last week as two new options products prepared to hit the market. According to data released by futures provider CME Group on Jan. 9, its futures contracts alone saw open interest almost 70% higher than at the end of 2019. “Serious” volume precedes options debut Open interest was the among the highest ever last week, only noticeably lagging behind the peak seen at the end of June. At the time, BTC/USD was circling its local highs of $13,800, while the past seven days likewise saw a price uptick up to $8,400. Bitcoin futures open interest and volume. Source: CME/ Twitter As Cointelegraph reported, interest has surged in the run-up to CME releasing its Bitcoin futures options. A launch could come as soon as Monday subject to “regulatory approval,” officials claimed, with the data already set for release on the company’s website. On Saturday, meanwhile, Bitcoin derivatives exchange FTX quietly rolled out its own Bitcoin options product. According to aggregate volume data for Bitcoin futures products by analyst Skew…Jan 13, 2020
Published on December 29th, 2019 by BTCMedia,Dec 30, 2019
EA announces Star Wars Jedi: Fallen Order as its best-selling PC Star Wars launch title. The game has garnered a positive reaction from critics and players alike. EA should take note that gamers are hungry for single-player games free of microtransactions. Electronic Arts (EA) announced today in a press release that Star Wars Jedi: Fallen Order is now the publisher’s top-selling launch-period Star Wars game on PC. The game also secured the fastest-selling digital launch for a Star Wars game in its first two weeks. Star Wars Jedi: Fallen Order Critical and Commercial Success It comes as little to surprise to anyone who’s sampled the delights of what is a fitting homage to the Star Wars universe and a worthy addition to the action-adventure genre. Critics agree, with generally positive reviews across the board and a healthy 8.2 user score over on Metacritic. With accolades such as the “best Star Wars game in recent memory” associated with Fallen Order, it’s no wonder gamers have flocked to spend their hard-earned cash. Fallen Order provides a long-awaited quality Star Wars title to…Nov 26, 2019
Chainlink is joining forces with Smart Chain Arena and Cryptonomic to provide the Tezos developer community with real-time data feeds via its decentralized oracle network. Now, anyone building smart contracts on top of the Tezos protocol will be able to access off-chain resources and use this data within their on-chain applications. “Providing Tezos developers with the most secure and reliable oracle solution is essential to advancing the Tezos ecosystem… Chainlink’s secure decentralized oracle network makes possible a plethora of new use cases across DeFi, Equities, Insurance, and much more,” said Vishakh, co-founder of Cryptonomic. The integration of Chainlink’s oracle solution will make it easier for developers to build on top of Tezos. Essentially, they will be able to avoid the pitfalls of creating a decentralized pricing feed on their own. This process is described by Sergey Nazarov, the head of Chainlink, as a big onion due to the problems discovered after each layer. As Chainlink expands its utility and Tezos eases the development of smart contracts applications, both cryptos will likely benefit substantially from the partnership in the long run….May 1, 2020