Connect with us
  • Home
  • Start here
  • Bitcoin Charts & More
  • Cryptopedia
  • Advertise
  • Submit PR
CLOSE

Bitcoin News

Ether And Bitcoin Still Vulnerable, Looking For Direction

Published

on

ether and bitcoin

The past few weeks have been bad for Ether and Bitcoin – the two coins managed to rally and surge by over 42% but only for a short while. As we can see from the analysis and ETH news, both of these coins are vulnerable and are going near their bottoms in the sideways trading session this Sunday.

The back to back bounces for Ethereum (ETH) are still in as the cryptocurrency traces towards the $162 and $153 support. A comparison of the daily and weekly charts shows that both ETH and BTC have a number of similarities. The Doji candle is one of them – currently set right outside the upper arm of a wedge pattern. Ether and Bitcoin are consolidating into a tightening range as BTC cools off and is looking for direction after the meteoric 42% rise on October 25.

What’s also interesting, as the latest Bitcoin news updates show, is that the weekly close is approaching and traders are probably enjoying the weekend while waiting for the candle close to provide insight in which direction the market might go forward. When looking at the charts, we can see the direction of ETH nicely.

Meanwhile, similar to Bitcoin, Ether trades outside of a descending channel (wedge for Ether) in a close and tight range. From the daily timeframe, we can see that the 12 exponential moving average (EMA) has pulled slightly above the 26 EMA and the volume profile visible range (VPVR) clearly shows that.

Ether and Bitcoin need to clear new prices in the following months. ETH needs to clear $184.27 and $185.12 in order to gain above the high volume node of the range. As custom over the past weeks, double bottom patterns have provided pleasant results before this and the recent bottom of $177 for Ether was followed by a successive 4.30% gains.

Just like Bitcoin, the Bollinger Bands for ETH are drawing closer and the cryptocurrency rides atop the middle. In other words, a move to $187 would mean that the high volume nodes are cleared which could lead to a move to $191 with a potential 5% gain.

All in all, the ETH/BTC pair looks relatively unchanged but needs to change soon. Ether and Bitcoin should look for new heights and spark investor interest in the coming days and weeks.

 

Share This With Your Friends

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Altcoin News

Royal Bank Of Canada (RBC) Is Set To Open A Crypto Exchange

Published

on

By

royal bank of canada
The Royal Bank of Canada (RBC) which is headquartered in Canada is apparently ready to turn to crypto and open its own cryptocurrency exchange. The crypto news story was confirmed in a report from The Logic and the media outlet claims that it has learned that the RBC wants to allow customers to trade in cryptocurrencies such as Bitcoin and Ethereum - mainly for investment purposes.However, the RBC bank also wants to provide a platform for in-store and online crypto purchases. The Royal Bank of Canada plans to include offering customers cryptocurrency bank accounts, even though the media outlet said that RBC has not responded directly to the requests for comments about the scheduled launch of the exchange.So far, the Royal Bank of Canada (RBC) has registered even four cryptocurrency banking related patents in the country and has been exploring various blockchain technology banking applications since 2017.As a report submitted on The Logic outlet shows, RBC is certain that this can be a challenge.
“To individual users, managing cryptographic keys and transacting with different cryptographic assets can be a challenge. In some situations, cryptographic asset transactions may take time to be confirmed, and/or may not be compatible or supported by merchant systems or point-of-sale devices." an excerpt from the patent paperwork noted.
Analysts right now are also commenting on the case. As Marc Kaufman who is a Washington DC based partner at Rimon Law said, "I can’t think of one of the big banks anywhere in the world that has a patent that directly relates to a crypto exchange."The CEO of Royal Bank of Canada (RBC), David McKay, spoke about the bank's experiments with blockchain technology, too. He was in the blockchain news earlier this year when he said that "blockchain is an opportunity in the future to take assets that are less liquid and make them more liquid. I think that’s exciting."If the Royal Bank of Canada proceeds with the crypto exchange launch, it might immediately become the most prominent domestic exchange in the sector and a major international player. As stats from the recent report show, the net income for Q3 at RBC was USD 2.5 billion, while the quarterly revenue was USD 8.7 billion in the same period. When it comes to assets, it possessed more than USD 1 trillion at the end of Q3.
`
Continue Reading

Bitcoin News

BTC Trader Says $8,400 Could Be The Next Target For Bitcoin

Published

on

By

btc trader says
The price of the leading cryptocurrency Bitcoin (BTC) seems to be ranging and trading near the $8,800 region for the third day in a row. As one BTC trader says, the new target for Bitcoin could be set in the $8,400 region and the cryptocurrency could trade even lower by next week.The Bitcoin news now show that according to charts, the BTC/USD trading session between $8,700 and $8,800 on Tuesday morning has fallen to local lows of $8,630 in the past 24 hours. This is what made the BTC trader and analyst certain that the leading cryptocurrency can drop more and visit lower grounds.Despite the volatility warning in recent days, Bitcoin (BTC) managed to remain lower as the week began and lost support at $9,000. Having exited the previous trading range, the cryptocurrency was laying the foundations of a further downside.The BTC trader and analyst named Michael van de Poppe eyed the potential for Bitcoin to fall in the $8,400 region. On Twitter, he wrote:
“Could continue the ranging here. For bulls; break back above $9,050 required.”
Van de Poppe also added that the current price behaviour signified a tussle between the bull and bear forces over Bitcoin - and was something which was not repeating on the altcoin markets.Speaking of which, the altcoin news today show that many altcoins are in the green - but not with significant gains. Among the leading ones are Cardano (ADA) which rose by 3.84% to a price of $0.044, Binance Coin (BNB) with a 1.94% increase and Bitcoin Cash (BCH) which is up by 1.21%.With a mixed behaviour between Bitcoin and altcoins, this BTC trader and many other analysts are uncertain of the near future for cryptocurrencies like these. We can see that shifts of up to 5% have been constant over the past month and characterized the top twenty cryptocurrencies by market cap.Meanwhile, Ether (ETH) which is the largest altcoin copied Bitcoin's behaviour and is shedding 0.25% just to remain at its price of $186. The overall cryptocurrency market cap was $240.4 billion with Bitcoin's share making up 66% of the total market cap.The 24 hour trading volume is at $63 billion right now. Bitcoin makes up more than 20% of the volume and with its price below $8,800 is trading with a volume of $18 billion in the past 24 hours.
`
Continue Reading

Altcoin News

New CoinMarketCap Update Provides Investors With Liquidity Data

Published

on

By

new coinmarketcap update
Investors can now rest assured of seeing information about liquidity on one of the leading cryptocurrency data providers - CoinMarketCap. The company is in the latest cryptocurrency news for unveiling a completely new feature reserved for this. Following the announcement, the new CoinMarketCap update was described as an ideal one for comparing exchanges and token pairs based on their liquidity.Speaking of, the official announcement comes from The Capital, which is the inaugural conference that was held in Singapore on November 12. The tool is officialized and now live on the company website.As described, the new CoinMarketCap update will reportedly incorporate data from 3,000 crypto assets. While thinking of filtering out the market manipulation, the leading crypto data provider will reportedly base the new liquidity metric on adaptive data.
“We believe our adaptive methodology will make our metric very difficult to ‘game’ as orders would need to be placed close to the mid-price, or risk being counter-productive to the Liquidity metric scoring,” said Carylyne Chan, the chief strategy officer (CSO) at CoinMarketCap.
The firm also said that they see the new metric as a nice way to escape the dependence on volume reporting which is often used to wash trading and other means of manipulation on different exchanges. At The Capital, Chan noted that "volume has lost its value as a metric." She also explained that the new CoinMarketCap update is meant to shift the focus away from the volume:
“Today, we are introducing a new metric to highlight what matters most to investors and traders: liquidity. With our Liquidity metric, we hope to provide public good to the crypto markets by encouraging the provision of liquidity instead of the inflation of volumes.”
The leading cryptocurrency data provider has not been available for comments or more information on the news. However, as shown before, they apparently teased their planned liquidity metric at the end of August, in which they cited November 12 as the target date.Before the new CoinMarketCap update, in July this year, we could see the data provider launching a new institutional grade analysis product called Simetri. The main idea of the product was to provide verification and transparency in order-book data from crypto exchanges, the news outlet Crypto Briefing said at the time.
`
Continue Reading

Bitcoin News

Alibaba Partners With Lolli, Allowing US Shoppers To Earn ‘Free Bitcoin’

Published

on

By

alibaba partners with lolli
The major Chinese eCommerce giant Alibaba recently partnered with the Bitcoin (BTC) rewards shopping app Lolli - enabling its shoppers to earn 5% back in the cryptocurrency. As Alibaba partners with Lolli, the customers can now get Satoshis (sats) which is the smallest unit of Bitcoin currency worth 0.00000001 BTC when shopping "thousands of items online" as the app revealed.The partnership was officially announced on Singles Day, which is a shopping holiday that is celebrated in China on November 11 and is considered to be the biggest one-day shopping event in the world. As the app Lolli said, Alibaba spent more than $31 billion on Singles Day in 2018.While Alibaba partners with Lolli, the Chinese giant is also working on other things. The CEO and co-founder of Lolli pointed out that this new move is a milestone partnership for the app as Alibaba is known to be the largest retailer and eCommerce company in the world.
“Our partnership allows our users to earn free bitcoin on millions of products online every day. Arguably the most important piece of this partnership is that it supports our mission of connecting the entire world through commerce," he stated.
According to one report by Coindesk, this new program will only be available for purchases in the Untied States. Aubrey Strobel who is Lolli's head of communications claimed that residents in China will not be able to participate and the products would be shipped directly from China to US shoppers.The report detailing that Alibaba partners with Lolli also hints on Adelman highlighting the firm's plans to expand globally in 2020. He also emphasized that the partnership is a great first step to connect China and the US through Bitcoin and commerce.In the other news, we can see that the Chinese retail giant Alibaba has not been very much friendly to Bitcoin to date. On October 10, the digital payment arm Alipay reiterated its negative stance to Bitcoin and confirmed that it will be banning all transactions which were identified as linked to Bitcoin.Meanwhile, the latest Bitcoin news today show that the leading cryptocurrency is trading at $8,799 and is still near its resistance zone of $8,800. The uptick of 0.57% on the day is merely nothing compared to previous surges.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - Ether And Bitcoin Still Vulnerable, Looking For Direction

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - Ether And Bitcoin Still Vulnerable, Looking For Direction

ADVERTISEMENT

oasistrade banner

Join us on Facebook

ADVERTISEMENT

300 250 - Ether And Bitcoin Still Vulnerable, Looking For Direction

UPCOMING EVENTS RECOMMEND BY DC FORECASTS

december

No Events

FO710FC3F2305 1 - Ether And Bitcoin Still Vulnerable, Looking For Direction

ADVERTISEMENT

300 600 3 - Ether And Bitcoin Still Vulnerable, Looking For Direction

Trending Worldwide

Show Buttons
Hide Buttons
X
X