Billionaire and former Wall Street fund trader Mike Novogratz has raised 0 million for his cryptocurrency venture Galaxy Digital.
CoinDesk
LTC FINDS RESISTANCE AT $250 AS IOTA CONSOLIDATES
As IOTA consolidates, Monero and DASH are bouncing from the minor support trend line and the triple bottoms respectively.
Of the 5 alt coins we are focusing on, NEM is the only token that has gained ground this week.
NEM BUYERS EYEING .1
![NEM buyers aim for .1](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/NEMUSD-4HR-Chart-30.12.2017.png)
Nothing serious for NEM. Our trade plan is panning out well. From yesterday’s price action, the 38.2% Fibonacci retracement seem to be a perfect spring board for buyers.
On the secondary chart, the stochastics are turning from oversold territory complete with a buy signal. Because everything is going according to our plan, our immediate bull target at .1 remains unchanged.
DASH FOUND SUPPORT AT THE TRIPLE BOTTOMS
![DASH bounces from triple bottoms](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/DASHUSD-4HR-Chart-30.12.2017.png)
The charade continues. Even after DASH tested the triple bottoms with sellers appearing to be in control, buyers jumped in and buoyed prices.
The 00 round number not only proved sensitive but a perfect trampoline for buyers. Any close above 00 or the 61.8% Fibonacci retracement level on the upper side will invalidate our bear projection.
Considering the buy signal which has been printed, any pump to confirm the recent bull candlestick in the 4HR chart shall increase odds of bear cancellation.
IOTA CONSOLIDATES
![IOTA consolidates](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/IOTUSD-4HR-Chart-30.12.2017.png)
Even though we can see IOTA found support at .3, it is highly likely that a retest will be on the cards in the coming days. Besides the persistent sell pressure, we have to note the influence of the middle BB.IOTA prices have been moving along it in the past 4 sessions.
From the chart, a stochastic buy may print. Therefore, we shall have to see if IOTA price action will follow through and sync with momentum.
Of course, is our immediate resistance and should act as our ceiling in the next couple of day. What is of importance though is the support at .3.
We need a strong close below it to confirm sell pressure otherwise this consolidation will render stochastics useless.
MONERO PRICES BOUNCE FROM THE MINOR SUPPORT TREND LINE
![Monero bounces off minor support trend line](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/XMRUSD-4HR-Chart-30.12.2017.png)
A couple of Monero higher highs relative to the lower BB is relieving for buyers. Additionally, the fact that there is support at the minor trend line hints of possible reversal and paring of December 22 losses.
The 61.8% Fibonacci retracement level from where I recommended selling will be our immediate resistance level and assuming prices close above it, then well, we shall have no option but to trade with the trend.
LTC FINDS RESISTANCE AT 5
![LTC prices find resistance at 5](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/12/LTCUSD-4HR-Chart-30.12.2017.png)
We are definitely in a down trend and should 5 and the minor resistance trend line remain a reliable LTC price tag, then it is likely that the bear pressure we saw yesterday may continue.
There is a little bit of buy pressure yesterday but the fact that buyers are not able to break past the immediate resistance at 5 means we continue shorting with every LTC appreciation.
Conversely, if prices blast through the middle BB and the minor resistance trend line by New Year, then LTC might be on a path towards recovery.
All charts courtesy of Trading View
The post LTC FINDS RESISTANCE AT 0 AS IOTA CONSOLIDATES appeared first on NEWSBTC.
Prosecutors File Charges in Alleged $250 Million Crypto Mining Fraud
Authorities in South Korea have reportedly filed suit against a U.S. cryptocurrency mining firm, alleging a multi-million dollar fraud.
CoinDesk
Bitcoin Gold Price Technical Analysis – Can BTG/USD Stay Above $250?
Key Points
- Bitcoin gold price is currently under a correction and is holding the 0 support against the US Dollar.
- There is a major bullish trend line forming with support at 5 on the hourly chart of BTG/USD (data feed from Bitfinex).
- The pair must stay above the 0 and 5 support levels to bounce back in the near term.
Bitcoin gold price is currently correcting lower against the US Dollar. BTG/USD must hold 0 and the 100 hourly SMA to trade back above 0.
Bitcoin Gold Price Trend
There was a minor correction wave initiated from the 7 swing high against the US Dollar. The price declined below the 0 and 0 support levels and traded close to the 0 level. There was also a push below the 50% Fib retracement level of the last wave from the 1 low to 7 high. However, the 100 hourly simple moving average, currently at 0 protected declines.
More importantly, there is a major bullish trend line forming with support at 5 on the hourly chart of BTG/USD. The trend line support is just above the 100 hourly simple moving average, which is currently at 0. Moreover, the 76.4% Fib retracement level of the last wave from the 1 low to 7 high is near 5. Therefore, a break below the 0-270 support zone won’t be easy.
As long as the price is above the 0 support, it could bounce back and move above the 0 level. Above 0, the next target for buyers could be around the last swing high of 7. On the flip side, a break below the 0 support will most likely set the tone for a test of 0.
Looking at the technical indicators:
Hourly MACD – The MACD for BTG/USD is currently reducing its bearish slope.
Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is now well below the 50 level.
Major Support Level – 0
Major Resistance Level – 0
Charts courtesy – Trading View, Bitfinex
The post Bitcoin Gold Price Technical Analysis – Can BTG/USD Stay Above 0? appeared first on NEWSBTC.
Monero Price Achieves $250, a New All-Time High
&8230nThe post Monero Price Achieves 0, a New All-Time High appeared first on CryptoCoinsNews.n
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Ethereum Drops Below $250 as Price Hits Inflection Point
Eher may be set to head lower. If analysis is any indication, traders may be turning bearish as the market readies to retest July lows.
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Ethereum Drops Below $250 as Price Hits Inflection Point
Eher may be set to head lower. If analysis is any indication, traders may be turning bearish as the market readies to retest July lows.
CoinDesk
Bitcoin Price Drops By Over $250 as Crypto Markets Lose Billions
Just two days after achieving a historic high of over ,000 on September 2, bitcoin’s price has plummeted to below ,400.
CoinDesk