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Avalon Bitcoin Miner Maker Canaan Is Plotting Another IPO Attempt
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Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down
n After a short recovery attempt yesterday, crypto markets have lost more than billion in total market cap today, Bitcoin trading around ,850n
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Crypto Markets Attempt to Stem Recent Losses, Some Top Alts See Solid Green
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Bitcoin Cash Price Analysis: BCH/USD’s Failed Upside Attempt Near $530
Key Points
- Bitcoin cash price failed to break the 0 resistance and declined against the US Dollar.
- Yesterday’s highlighted ascending channel was breached with support at 1 on the hourly chart of the BCH/USD pair (data feed from Kraken).
- The pair is currently below the 0 support and it could decline further in the near term.
Bitcoin cash price struggled to break the 0 and 0 hurdles against the US Dollar. BCH/USD is likely to retest the 0 support if sellers remain in action.
Bitcoin Cash Price Analysis
Yesterday, we discussed a possible upside break above the 0 resistance in bitcoin cash price against the US Dollar. However, the BCH/USD pair failed to clear the 0 resistance level and started a fresh decline. During the downside, it broke the 5 support level. It also cleared the 50% Fib retracement level of the last wave from the 0 swing low to 0 high.
Moreover, yesterday’s highlighted ascending channel was breached with support at 1 on the hourly chart of the BCH/USD pair. The pair is currently trading below the 0 support and the 100 hourly simple moving average. An immediate support is near the 0 level. It represents the 61.8% Fib retracement level of the last wave from the 0 swing low to 0 high. Below the 0 support, the price is likely to accelerate declines towards the 5 and 0 support levels. On the other hand, if there is an upside move, the price may struggle near the 0 level. Above this, the 0 resistance could be retested.
Looking at the chart, BCH price seems to be forming a broad range above the 0 support. It could continue to move inside a range before breaking to the upside above 0.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is about to move into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now well below the 50 level.
Major Support Level – 0
Major Resistance Level – 0
The post Bitcoin Cash Price Analysis: BCH/USD’s Failed Upside Attempt Near 0 appeared first on NewsBTC.
Bitcoin Cash Price Analysis: BCH/USD’s Failed Upside Attempt
Key Points
- Bitcoin cash price moved a few points above 0, but it failed to gain momentum against the US Dollar.
- This week’s highlighted important bearish trend line was broken with resistance at 8 on the hourly chart of the BCH/USD pair (data feed from Kraken).
- The pair failed to gain traction and it could move back below 0 in the near term.
Bitcoin cash price failed to recover above 0 against the US Dollar. BCH/USD may perhaps resume its slide for more losses below 0.
Bitcoin Cash Price Support
Yesterday, there was a minor upside move initiated from the 8 swing low in bitcoin cash price against the US Dollar. The BCH/USD pair tested the 76.4% Fib retracement level of the last wave from the 4 low to 0 high. Later, it started an upside move and traded above the 0 level. More importantly, this week’s highlighted important bearish trend line was broken with resistance at 8 on the hourly chart of the BCH/USD pair.
However, the price failed to gain momentum after it broke the trend line and 0. It also faced a strong resistance near the 38.2% Fib retracement level of the last drop from the 0 high to 8 low. Lastly, the 100 hourly simple moving average and the 0 resistance also stopped gains. The price is once again under pressure and it may perhaps break the 0 level. On the downside, supports are seen near the 8 and 5 levels.
Looking at the chart, the price has to move above the 0 resistance and the 100 hourly SMA. The 50% Fib retracement level of the last drop from the 0 high to 8 low is also at 4 to prevent gains. A successful close above 5-740 is needed for buyers to take control.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is slightly in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is now placed above the 50 level.
Major Support Level – 8
Major Resistance Level – 5
The post Bitcoin Cash Price Analysis: BCH/USD’s Failed Upside Attempt appeared first on NewsBTC.
Bitcoin (BTC) Price Watch: Another Breakout Attempt?
Bitcoin Price Key Highlights
- Bitcoin price bounced after forming a bullish divergence on its 1-hour time frame.
- Price could make another test of the longer-term channel resistance to attempt an upside break.
- However, bitcoin has to contend with Fib retracement levels and dynamic inflection points nearby.
Bitcoin could have another shot at a downtrend reversal if it’s able to break past the nearby inflection points.
Technical Indicators Signals
The 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the downtrend is more likely to resume than to reverse.
However, bitcoin price has moved slightly past the 100 SMA dynamic inflection point as an early signal of a pickup in bullish momentum. Price could test the 200 SMA resistance next and this lines up with the top of the channel on the 4-hour time frame, as well as the 61.8% Fibonacci retracement level.
RSI came off a bullish divergence as price made lower lows while the oscillator had higher lows. However, RSI appears to be turning lower without hitting overbought levels to hint that sellers are eager to return. Stochastic is also on the move down to indicate a pickup in selling pressure.
In that case, bitcoin could still find itself resuming the selloff back to the mid-channel area of interest or support at ,400. A break past the ,500 area, on the other hand, could mark the start of a reversal.
![](https://s3.amazonaws.com/main-newsbtc-images/2018/06/26023930/180626_bitcoin-600x361.png)
BTC/USD Chart from TradingView
Some speculate that the bounce was merely due to a release of 250 million Tether, a stablecoin that was seen to be responsible for influencing bitcoin price back in 2017. Still, it’s worth noting that Japan is stepping up the game in terms of overseeing bitcoin exchanges so there could be reason for investors to stay cautious.
The post Bitcoin (BTC) Price Watch: Another Breakout Attempt? appeared first on NewsBTC.
Bitcoin Cash Price Technical Analysis – BCH/USD Failed Upside Attempt
Key Points
- Bitcoin cash price corrected higher but it faced sellers near the 30 level against the US Dollar.
- There was a break below a key bullish trend line with support at 50 on the hourly chart of BCH/USD (data feed from Kraken).
- The pair may correct further in the near term as long as it is below 00 and the 100 hourly simple moving average.
Bitcoin cash price failed to settle above 00 against the US Dollar. BCH/USD is again correcting lower and is trading below the 00 level.
Bitcoin Cash Price Resistance
Recently, we saw a decent recovery above 00 in bitcoin cash price against the US Dollar. The price traded above the 00 level, but it failed to settle above the 00 level. It made a top at 30 and started a downside correction. During the downside, there was a break below the 23.6% Fib retracement level of the last wave from the 49 low to 31 high.
More importantly, there was a break below a key bullish trend line with support at 50 on the hourly chart of BCH/USD. The pair moved down and even broke the 00 support and the 100 hourly simple moving average. It has opened the doors for more losses below 00. At the moment, the 50% Fib retracement level of the last wave from the 49 low to 31 high is acting as a support. Should there be a break below the 00 support, there could be more declines toward the 00 level.
On the upside, the broken support at 00 and the 100 hourly SMA are likely to act as a resistance. Above 00, the last high at 31 may be tested in the near term.
Looking at the technical indicators:
Hourly MACD – The MACD for BCH/USD is not showing any major bearish sign.
Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently below the 50 level.
Major Support Level – 00
Major Resistance Level – 00
Charts courtesy – Trading View, Kraken
The post Bitcoin Cash Price Technical Analysis – BCH/USD Failed Upside Attempt appeared first on NewsBTC.
How Blockstack Counterattacked a Phishing Attempt on Its ICO
When phishing sites tried to con investors during its recent ICO, Blockstack used its tech expertise to turn the tables on the tricksters.
CoinDesk