n Microsoft Korea has said the country is facing an increase in crytojacking incidents, in which attackers use a targeted computers processing power to mine crypto by stealthn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Blockchain Use in Finance Still Faces Major Challenges Chinese Researcher
n The use of blockchain in the financial sector still faces major challenges, head of blockchain research at Chinas government-backed research center saysn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Danish Man Faces Over 4 Years in Prison for Laundering $450K With Bitcoin
n A 33-year old Danish man has been sentenced to four years and three months in jail for laundering over 0,000 in Bitcoinn
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Electrum Faces Another Fake Wallet Attack, Users Reported to Lose Millions of Dollars
n Bitcoin wallet Electrum faces an ongoing DoS attack on its servers that reportedly caused losses of millions of dollars to daten
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Bitcoin Faces Price Pullback Amid Extremely Overbought Conditions
Bitcoin could be in for a minor price retreat as the RSI is showing the most overbought conditions for 16 months.
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Bitcoin Grinds Higher, But BTC Faces Critical Hurdle as it Nears Key Resistance Level
Bitcoin has been able to climb somewhat higher after finding relative levels of support in the low ,900 region. Although its ability to maintain stability is certainly positive, BTC is getting closer and closer to the ever-so important ,000 level, which could mean that significant volatility is on its way.
Analysts are now expressing a somewhat cautiously bullish sentiment when it comes to the cryptocurrency, as it is showing some bullish signs, but must soon face an important hurdle at the ,000 level.
Bitcoin Stable Above ,900, May Soon See Increased Volatility
At the time of writing, Bitcoin is trading up roughly 1% at its current price of ,960. BTC has been slowly creeping higher over the past several days and recovered the stability it recently lost after it climbed to ,000 before swiftly dropping to ,900 yesterday.
Mati Greenspan, the senior market analyst at eToro, recently spoke to MarketWatch about Bitcoin’s current state, explaining that the cryptocurrency’s trading volume is higher than usual, but is down from its recent highs.
“Bitcoin remains rather flat, still trying to break through the interim resistance at ,000. The crypto rally may have lost some of its momentum, as volumes across exchanges do seem to be tapering off from their recent highs but remain elevated just under billion per day,” he explained.
Chonis Trading, a popular cryptocurrency analyst on Twitter, recently pointed out that Bitcoin has been able to close above the middle of two tightening Bollinger Bands, but refrained from making any predictions.
“$BTC – another daily candle closed above the middle of a tightening BB… bitcoin dominance 51% and over Bill in daily volume which is higher than average.”
$BTC – another daily candle closed above the middle of a tightening BB….#bitcoin dominance 51% and over Bill in daily volume which is higher than average
— Chonis Trading (Crypto Mentor) (@BigChonis) March 15, 2019
Analyst: Bulls Have a Growing Chance of Gaining Control After Recent Failed Sell Signal
Because Bitcoin has garnered some bullish momentum after experiencing the aforementioned volatility yesterday, one analyst believes that BTC’s bulls may have a change of gaining control over the crypto in the near future.
Mr. Anderson, another popular cryptocurrency analyst on Twitter, discussed why the bulls may have a chance to push the crypto higher in a recent tweet, saying:
“$BTC H1 – The best Buy signals are often failed sell signals. $BTC followed it’s best “Darth Maul” impression w/ Bullish action… H1 gave a cpl “momentum before price” signals. Stoch is in the go zone currently… Supply will dictate the move as always. But, Bulls have their chance.”
$BTC H1
The best Buy signals are often failed sell signals. $BTC followed it's best "Darth Maul" impression w/ Bullish action
H1 gave a cpl "momentum before price" signals. Stoch is in the Go zone currently
Supply will dictate the move as always. But, Bulls have their chance pic.twitter.com/bc9agSeBm0
— Mr. Anderson (@TrueCrypto28) March 15, 2019
Traders and analysts alike are closely watching how Bitcoin responds to the upper-,900 region and the lower-,000 region, as these price levels have proven to be strong areas of resistance in the past and will likely continue to be unless bulls can muster up a significant amount of buying pressure in the near-future.
Featured image from Shutterstock.
The post Bitcoin Grinds Higher, But BTC Faces Critical Hurdle as it Nears Key Resistance Level appeared first on NewsBTC.
Bitcoin Short Positions Rise as BTC Faces Growing Resistance at Critical 4,000 Level
After facing increased levels of selling pressure yesterday, Bitcoin as been able to maintain above ,900, which is increasingly becoming a level of support for the cryptocurrency. Despite this, ,000 still remains a key level of resistance for BTC, and the crypto’s short positions are rapidly climbing as it continues to fail to break above this price level.
Analysts continue to watch Bitcoin’s key support levels as the cryptocurrency fails to garner any significant amounts of buying pressure to propel it above ,000, which may ultimately lead it to drop back towards its strong support levels in the low-,000 region.
Bitcoin Finds Continued Support Around ,900
At the time of writing Bitcoin is trading up marginally at its current price of ,915 and is up slightly from its daily lows of ,870. Importantly, BTC has found some levels of buying pressure in the upper-,800 region, but it has continued to struggle to move towards ,000.
Because of this, the crypto’s short positions have been climbing, and are looking to outnumber BTC’s long positions for the first time since early January.
“$BTC (LONGS V SHORTS) – longs continue to deleverage as shorts continue to rise and look to pass longs in open positions for the first time since early January,” Chonis Trading, a popular cryptocurrency trader on Twitter explained in a recent tweet.
$BTC (LONGS V SHORTS) – longs continue to deleverage as shorts continue to rise and look to pass longs in open positions for the first time since early January… #bitcoin pic.twitter.com/1DxssSU6BK
— Chonis Trading (@BigChonis) March 12, 2019
BTC Currently Caught in Trading Channel Between ,800 and ,000
Furthermore, Chonis also explained that Bitcoin is currently back-testing its middle channel resistance, which could either lead it to surge to the upper end of the channel – which is around ,000 – or to sink towards the bottom end at around ,800.
“$BTC – has been stuck in this channel since late February, currently backtesting middle channel resistance. Alts continue to pop as #bitcoin remains relatively stable as dominance hovers around 51%…Channel resistance at k and rising support around 50…”
$BTC – has been stuck in this channel since late February, currently backtesting middle channel resistance. Alts continue to pop as #bitcoin remains relatively stable as dominance hovers around 51%…Channel resistance at k and rising support around 50… pic.twitter.com/FOAX8mc7bN
— Chonis Trading (@BigChonis) March 12, 2019
Alex Kuptsikevich, financial analyst at FxPro, also spoke about the crypto’s current levels of resistance and support, noting that the mid-,600 region remains a key support level that is blocking BTC from dropping back towards its 2018 lows around ,000.
“The price level at K remains a serious resistance for BTC, and the market clearly lacks a positive [catalyst] to overcome this threshold… From the technical analysis side, bitcoin caught between resistance at ,000 and 50-day moving average support, which almost a month ago turned from resistance into support. At the moment, this level passes through ,657, leaving the potential for decline,” he explained while speaking to MarketWatch.
As the week drags on and Bitcoin reacts to these aforementioned levels of support and resistance, traders and analysts alike will garner a greater understanding of where the cryptocurrency, and the overall markets, are heading next.
Featured image from Shutterstock.
The post Bitcoin Short Positions Rise as BTC Faces Growing Resistance at Critical 4,000 Level appeared first on NewsBTC.
Bitcoin Price Surges Following Recent Drop, But BTC Faces Strong Resistance Around 3,900
Following the recent influx of selling pressure that sent Bitcoin’s price spiraling below its previously established support level at ,800, the cryptocurrency’s bulls were able to garner an influx of buying pressure that sent BTC back above ,800 and towards ,900.
It now appears that Bitcoin is facing relative levels of resistance at ,900, and analysts believe that this is a key price level for BTC to break decisively above in order for the crypto to maintain its bullish momentum.
Bitcoin Price Surges Nearly 4%, But Faces Strong Resistance at ,900
At the time of writing, Bitcoin is trading up nearly 4% at its current price of ,900. This past Sunday, BTC dropped below its previously established support level at ,800 and fell to lows of ,700 before trading sideways for a couple of days before surging this morning.
Although the bull’s ability to keep BTC’s price in the upper-,000 region is positive for the cryptocurrency, it has struggled to break decisively above ,000, and may be unable to break above this level in the near-term if it is unable to surge above ,900.
UB, a popular cryptocurrency analyst on Twitter, spoke about the importance of the ,900 level in a recent tweet, explaining that BTC needs to push above ,900-3,940 in order for a decisive break above ,000 to be in the cards.
“$BTC – So far so good. Bitcoin is currently testing the first area of resistance (3830) after popping up a bit. The real test will be at 3900-3940. The reaction at those levels will be very important for either bullish or bearish arguments for the next few days.”
$BTC – So far so good.
Bitcoin is currently testing the first area of resistance (3830) after popping up a bit.
The real test will be at 3900-3940. The reaction at those levels will be very important for either bullish or bearish arguments for the next few days. #Bitcoin pic.twitter.com/sobKy85JBd
— UB (@CryptoUB) March 5, 2019
If Bitcoin continues to struggle to break above ,000, it may be plausible that the crypto falls back to its 2018 lows of ,200 before finding more buying pressure.
Analyst: Bitcoin Finding Strong Support at Top of Previous Pennant Resistance
Bitcoin’s latest move up may be due to it establishing the top of its previous pennant resistance as a strong level of support.
Crypto Rand, a popular cryptocurrency analyst on Twitter, recently noted that long positions in Bitcoin currently look far more attractive than short positions, as BTC has continued to respect the top of the old pennant resistance as support and has found strong horizontal support around ,800.
“Not trading it for now but way more interested on long setups. Horrible spot to short #Bitcoin. The old pennant resistance still playing as support. Confluence of the downtrend channel with the horizontal support and 0.786 FIB.”
Not trading it for now but way more interested on long setups. Horrible spot to short #Bitcoin.
The old pennant resistance still playing as support. Confluence of the downtrend channel with the horizontal support and 0,786 FIB.
More info and analysis: https://t.co/WV7FKTZRa0 pic.twitter.com/7b3rh1xDY5
— Crypto Rand (@crypto_rand) March 5, 2019
Traders and analysts alike will be closely watching to see if Bitcoin is able to decisively move above the low-,900 region, as if it does it may retest ,200, which is a recently established level of strong resistance.
Featured image from Shutterstock.
The post Bitcoin Price Surges Following Recent Drop, But BTC Faces Strong Resistance Around 3,900 appeared first on NewsBTC.
Analyst: Bitcoin Faces Serious Demand Problem Despite BTC Holding Above $3,800 Support Level
After trading sideways since experiencing some volatility over this past weekend, Bitcoin (BTC) has now established a fresh trading range between approximately ,800 and ,900, finding relative levels of support at the former price and resistance at the latter price.
Now, analysts believe that the lack of significant buying pressure at these relatively low prices signals that further downside may be imminent.
Bitcoin Stable Above ,800, But Faces Resistance at ,900
At the time of writing, Bitcoin is trading down marginally at its current price of ,855. Yesterday, BTC dipped to lows of ,800 before finding some buying pressure that propelled it back up towards ,900, where it was rejected and pushed down to its current levels.
In the short-term, it is highly likely that this will be a new trading range, and without an increase in trading volume BTC may be stuck between these prices for the foreseeable future.
SalsaTekila, a popular cryptocurrency analyst on Twitter, spoke about this newly formed trading range in a recent tweet, noting that it is incredibly difficult to profitably trade within tight ranges like this.
“The $BTC range I was speaking of worked out splendidly: both extremes hunted… From here I don’t care what happens, speculate on up or down all you want I won’t counter trade you for the rest of the day… Be back after the daily close,” he said.
The $BTC range I was speaking of worked out splendidly: both extremes hunted.
From here I don't care what happens, speculate on up or down all you want I won't counter trade you for the rest of the day
Be back after the daily close. pic.twitter.com/aDkBfJEN3i
— SalsaTekila (JUL) (@SalsaTekila) February 28, 2019
SalsaTekila further explained that he expects BTC to shortly see further downside.
“To be fair, that looks like downtrend continuation for now.”
/2 To be fair, that looks like downtrend continuation for now.$BTC pic.twitter.com/TUSXL3GkES
— SalsaTekila (JUL) (@SalsaTekila) February 28, 2019
Analyst: Bitcoin’s Lack of Buying Pressure at Current Prices Signals Technical Weakness
Although Bitcoin has been able to hold strongly above its 2018 lows set in the low-,000 region, one analyst believes that Bitcoin’s current lack of strong buying pressure could mean that the cryptocurrency has run out of “dip buyers” and that further downside is imminent.
“Bitcoin failed to hold on to last week’s rebound [above ,000] and slipped back under this psychologically significant level. If dip buyers were waiting to pounce on these discounts, they would have done so by now,” Jani Ziedins of the CrackedMarket blog explained while speaking to MarketWatch.
Ziedins further noted that the weakness of Bitcoin’s last rebound signals a “serious problem” for the cryptocurrency.
“The latest rebound failing to stick tells us demand is still a serious problem for the cryptocurrency and no one is coming to the rescue anytime soon,” he said.
Bitcoin will likely continue to follow its recent trend of making large price swings after experiencing extended period of sideways trading. If history continues to repeat itself, BTC will likely see increased levels of volatility during the upcoming weekend or into the early-half of next week.
Featured image from Shutterstock.
The post Analyst: Bitcoin Faces Serious Demand Problem Despite BTC Holding Above ,800 Support Level appeared first on NewsBTC.
Major Exchange Faces System Overload as Bitcoin (BTC) Plummets After Yesterday’s Surge
The crypto markets plummeted today following yesterday’s price surge that was widely seen as being highly bullish by many analysts. Yesterday’s sharp and sudden surge sent Bitcoin above ,000, which had previously been a strong level of resistance for BTC.
Today, however, the crypto markets have plummeted, sending BTC down towards ,800. This recent volatility has led to an influx of trading volume that temporarily had an adverse impact on Binance’s systems.
Bitcoin (BTC) Plummets Below ,000 Amidst Market Sell-Off
At the time of writing, Bitcoin is trading down nearly 6% at its current price of ,825. Yesterday, BTC’s price exploded to highs of ,200 before running out of buying pressure and plummeting to its current price levels.
This volatility has highlighted the importance of Bitcoin’s 100-day moving average and 50-day moving average as key levels of support, which must continue to hold or else significantly further losses could be in play.
Chonis Trading, a popular cryptocurrency trader on Twitter, spoke about the importance of these moving averages as levels of support in the near-term, noting that a close above these levels is ideal on a daily chart.
“$BTC – Two key moving averages that ideally need to hold support on the daily candle close”
$BTC – Two key moving averages that ideally need to hold support on the daily candle close…#bitcoin pic.twitter.com/gF2BkEl1pg
— Chonis Trading (@BigChonis) February 24, 2019
Bitcoin’s drop has led most cryptocurrencies to fall today, with Ethereum plummeting 9%, Litecoin plunging 12%, and XRP dropping 7%.
Major Crypto Exchange Faces System Overload Amidst Market Volatility
This bout of weekend volatility has been driven by increased trading volumes, which have climbed from weekly lows of .5 billion to their current levels of nearly billion.
This sudden surge in trading volume led Binance’s systems to face delays as they incurred an all-time-high trading system load earlier today.
Changpeng Zhao (CZ) – the CEO of Binance – spoke about the system load his exchange saw earlier today in a recent tweet, noting that the delays occurred during the system’s auto-scaling.
“We seen [sic] ATH for trading system load about an hour ago, some users experienced ui delays during system auto scaling. Still improving.”
We seen ATH for trading system load about an hour ago, some users experienced ui delays during system auto scaling. Still improving.
— CZ Binance (@cz_binance) February 24, 2019
The recent surge in volume signals that cryptocurrency traders are becoming increasingly keen on finding trading opportunities during the relatively quiet market conditions.
As the markets head into the week ahead it is likely that analysts and investors alike will gain greater insight into where Bitcoin’s new support and resistance levels exist, and to whether or not Bitcoin’s recent lows in the low-,000 region are a long-term bottom.
Featured image from Shutterstock.
The post Major Exchange Faces System Overload as Bitcoin (BTC) Plummets After Yesterday’s Surge appeared first on NewsBTC.