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Bitcoin (BTC) Price Spotter- Bulls Defend Uptrend Line, Aiming Higher

Bitcoin Price Key Highlights

• Bitcoin price pulled back to the expanse of interest marked previously and bounced off support.

• Price is setting its sights back on upside targets indicated using the Fibonacci extension tool.

• Technical indicators are giving mixed signals in terms of direction, simply bearish pressure appears to be fading.

Bitcoin price is resuming its climb after testing the ascent tendency line connecting the lows since mid-August.

Technical Indicators Signals

The 100 SMA is nevertheless below the longer-term 200 SMA on the iv-hour time frame to indicate that the path of least resistance is to the downside. In other words, there's still a chance for the selloff to resume at this point.

Yet, the gap betwixt the moving averages is narrowing to indicate slowing selling pressure. The 200 SMA, which lines up with the trend line, also held as dynamic back up and could continue to do then moving forward.

In that instance, bitcoin price could aim for the 38.two% extension at the swing high next or the fifty% extension simply by the $7,200 major psychological resistance. Stronger bullish momentum could bring it upward to the 61.viii% extension at $7,315 or the 78.six% extension at $7,457.seventy. The full extension is just above the $7,600 mark.

RSI is on the move up so bitcoin price could follow arrange while buyers have the upper manus. This oscillator has some room to climb before striking overbought levels, which means that buyers could stay in the game for a flake longer.

Meanwhile, stochastic just pulled up from the oversold area to indicate a return in bullish pressure. This has more room to caput n, too suggesting that the bounciness could be sustained.

A fleck of month-end profit-taking flows could be seen so be mindful of whatever sharp dips as traders attempt to book profits off contempo positions. In the meantime, traders still seem optimistic that the SEC could have a more than positive conclusion in the pending bitcoin ETF applications.

SARAH JENN | Baronial 31, 2018 | iv:32 AM

David – http://markethive.com/david-ogden

Bitcoin (BTC) Toll Sentinel – Make Or Break At $7,000

Bitcoin Price Primal Highlights

• Bitcoin price is once over again attempting to pause past the key $vii,000 barrier on its climb.

• If it does, bullish pressure could kick in and complete the formation of a long-term double bottom reversal pattern.

• The pattern's neckline would be at the $8,400 mark and a break higher could spur a prolonged rally.

Bitcoin price is dorsum to the key $seven,000 marking and a strong upside pause could ostend that a big rebound is in lodge.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA on this fourth dimension frame to point that the path of to the lowest degree resistance is nevertheless to the downside. In other words, resistance is more likely to hold than to pause.

However, the gap between the two indicators has narrowed significantly to indicate that a bullish crossover may be in the works. In that case, more buying pressure level could be seen once completed, giving bitcoin price plenty energy to sustain a motion by $seven,000.

This would put in on track towards testing the neckline around $8,400 to $8,500 and complete a large double lesser pattern. This reversal formation would bridge around $2,700 in acme, which suggests that the resulting motility could be roughly the same size.

RSI is nevertheless heading lower for now, though, and so sellers might have the upper mitt. Similarly stochastic is moving due south and then bitcoin price could follow suit while sellers stay in control. Sustained bearish momentum might fifty-fifty lead to some other exam of the bottoms at $5,800.

BTCUSD Chart from TradingView

However, the mood is somewhat positive in the industry every bit investors await the SEC decision on pending bitcoin ETF applications. To top it off, run a risk ambition has been evident in global financial markets thanks to developments in NAFTA and Brexit.

It might take an manufacture-specific catalyst to sustain any potential rallies, though, and it'due south probable that the regulator's ruling could do the pull a fast one on. Approval could bring stronger volumes and increased activity for bitcoin and its peers.

Sarah Jenn – NewsBTC – 1 hr ago

David – http://markethive.com/david-ogden

Bitcoin (BTC) Price Watch – More Buyers Waiting to Join

Bitcoin Toll Fundamental Highlights

• Bitcoin price is all the same on a tear, making its manner up to the top of an ascending aqueduct on the 1-hour chart.

• Price could be due for a pullback to the aqueduct bottom from hither in order to proceeds more bullish momentum.

• The Fib levels on the latest swing low and high prove the areas where buyers might be waiting.

Bitcoin price could be due for a quick pullback from its ongoing climb as buyers wait to hop in at better prices.

Technical Indicators Signals

The 100 SMA is safely above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. In other words, the uptrend is more than probable to resume than to reverse.

The gap between the moving averages is also widening to betoken strengthening buying momentum. The 100 SMA lines upwards with the 38.2% Fib at $six,800 while the 200 SMA is closer to the bottom of the channel, which might be the line in the sand for a bullish pullback.

In addition, this is near the area of interest or former resistance around $6,700 which might concord as back up moving frontward. If then, bitcoin toll could resume the move to the swing loftier or the top of the channel closer to $7,200.

RSI is on the motility down, though, so there may exist some bearish pressure level left. This oscillator has a flake of room to head south earlier indicating oversold conditions, so the correction could keep for a bit longer.

Similarly stochastic is pointing down to confirm that sellers are in control for now. Once both oscillators hitting oversold levels and beginning turning support, buying pressure could render and permit the climb to resume.

Speculations for a rebound until the finish of the year are being revived as traders are now turning their attending to potential approval from the SEC when it comes to bitcoin ETF applications.

SARAH JENN | AUGUST 29, 2018 | 4:03 AM

David – http://markethive.com/david-ogden

CHARLIE SHREM TALKS BITCOIN, HODLING, AND THE FUTURE OF CRYPTOCURRENCY

Charlie Shrem sat downwardly with Yahoo Finance recently to discuss his thoughts on the present and time to come states of cryptocurrency.

THE STARTING LINE

Charlie Shrem, early Bitcoin $6901.27 +0.one% adopter and founder of BitInstant and Crypto.IQ was interviewed past JP Mangalindan of Yahoo Finance on Sunday. The sit-downwards took identify at the MoneyShow conference in San Francisco last Thursday.

Shrem gave the audience some nuggets of wisdom and advice, while also discussing his thoughts on the current cryptocurrency market and its time to come trajectory.

The pair began by discussing Shrem's early days in the dawn of Bitcoin — running the largest bitcoin exchanges at the fourth dimension in the early 2000'south, followed past a stint in prison subsequently selling Bitcoins to resell on the at present-defunct 'black market place' website, The Silk Road.

Afterward serving two years, Shrem teamed upward with Randall Oser to create Crypto.IQ, which offers a membership service that includes access to portfolios, cryptocurrency analysis, reports, and education.

A PHOENIX FROM THE ASHES

When asked virtually his take on the electric current land of Bitcoin, Shrem took the hazard to remind new investors that historically, it hasn't been all sunny days for the cryptocurrency markets. He stated:

A lot of crypto people aren't traders, traders know there are bull and acquit markets. A lot of crypto people call up it's always balderdash.

Shrem does not seem discouraged by the current bear marketplace. "It'southward during these bear markets," he said invoking ideas of creative devastation, "it'due south when things die, things are born and rebuilt."

GETTING IN — GETTING INTRIGUED

With the number of existing cryptocurrencies exploding to over 1,800, many are jump to die out in time. Shrem noted that the cryptocurrency space has get much more than competitive due to the big number of different projects. Bear market cycles are necessary to milk shake out projects that have no existent-world value.

The huge proliferation of cryptocurrency projects likewise allows people more avenues to become a function of the cryptocurrency economy.

Shrem praised projects that are legitimate and genuinely attention-grabbing of new people saying, "It's getting people in. It'south getting people intrigued."

He advised those who are just beginning to invest, "Choose an amount that y'all'd be okay with losing." he connected, "Invest [that amount] in a basket of crypto and just have fun with it. Just enjoy it and larn."

Shrem recommended locking upward the investment to allow information technology to mature for five years.

'PUTTING MY MONEY ON 2019'

Mangalindan asked Shrem how to respond to those concerned almost the volatility and price of Bitcoin. Shrem responded optimistically, "It was a crazy move. We went from $1,000 to $20,000. The marketplace has to assimilate that."

Shrem and other long-time investors realize that the current behave marketplace is merely following the pattern of experiencing periods with big-percentage gains, and subsequent corrections.

Shrem is still bullish on Bitcoin $6901.27 +0.one% claiming, "Honestly, I'm a heir-apparent between $5,000 and $6,000. "Shrem was also asked almost his thoughts on the contempo rejection of Bitcoin Commutation-Traded Funds (ETFs) by the SEC, a topic that has garnered a great deal of media coverage lately. Some investors are claiming that ETFs will make the price skyrocket, others call up ETFs will take only a small effect on the market.

"Nosotros're not ready for an ETF." said Shrem, "The marketplace is also liquid, information technology's too manipulatable." He cited the recent pump of Bitcoin toll during maintenance on the BitMEX exchange as an example.

"We only accept a first shot at it." Shrem stated, "We have an ETF, something happens, we get screwed, they close it downward. Do you know how hard it's going to be to have an ETF again?"

Shrem remains certain that the ETF will happen, stating, "I'1000 putting my coin on 2019."

KYLE BAIRD · @CRYPTOBIZZLE | AUG 28, 2018 | 00:00

David – http://markethive.com/david-ogden

Investing.com – Bitcoin and other major cryptocurrency prices gained on Monday. Fundstrat Global Advisors' Thomas Lee'due south comments received some focus as he said there is a stiff correlation between emerging markets and virtual coins.

Bitcoin was upward 0.8% to $half dozen,668.9 at 11:55AM ET (03:55 GMT) on the Bitifinex substitution.          

Ethereum edged up 0.1% to $272.4 on the Bitifinex exchange.              

XRP traded up 0.three% to $0.32328 in the last 24 hours on the Poloniex exchange, while Litecoin was besides up 0.half dozen% to $56.654.   

Lee said hedge funds are not buying risk when emerging markets sell-off, while the contempo slump in digital assets suggested the funds are not buying crypto either.

"Both actually essentially peaked early this twelvemonth, and they both have been in a downward tendency," Lee said in an interview with CNBC. "Until emerging markets begin to turn, I recollect in some ways that correlation is going to hold and tell us that sort of the risk on mentality is those buyers aren't ownership bitcoin."

Lee added that he believed the bear market could come up to an end presently, particularly if the dollar weakens and the Federal Reserve slows its involvement charge per unit hike policy, and that he thinks bitcoin could surge to $25,000 by the stop of the year. "I still call back information technology's possible," said Lee. "Bitcoin could end the twelvemonth explosively higher."

Cryptocurrency prices received some support on Friday subsequently the U.South. Securities and Substitution Commission (SEC) said it would review a decision to reject the applications of Bitcoin commutation traded funds, later on its staffs rejected the applications from nine companies to list their Bitcoin ETF funds on Wednesday, citing concerns about fraud and manipulation of bitcoin markets.

David – http://markethive.com/david-ogden

Wall Street Balderdash Tom Lee: Bitcoin Price Is Beating New Circular of FUD

The co-founder and head of research at Fundstrat Global says he's sticking to his prediction that Bitcoin will hit $20,000 past the end of the year.

In a new interview on CNBC, Tom Lee points out that Bitcoin's toll actually climbed after 2 new rounds of fear, dubiousness and doubt hit the market.

"Nosotros've had some bad news this week. Two large setbacks, right? The SEC most universally cancelled ix [ETF] applications, and so China did essentially a re-ban because it sounds like they had to clench down again on crypto – and Bitcoin'southward actually rallied."

Lee also talks almost a potential leading indicator for BTC, outlining the impact that the MSCI Emerging Markets Index and hedge funds have on the market.

Final only not least, Lee breaks out the latest numbers on his company'southward proprietary Bitcoin Misery Index, which is designed to gauge just how miserable Bitcoin hodlers are based on price and volatility.

David – http://markethive.com/david-ogden

SEC WILL REVIEW WEDNESDAY Determination TO Pass up BTC-ETF PROPOSALS

The SEC has decided to review yesterday'due south orders denying approval of numerous Bitcoin substitution traded funds.

IS THERE A LIGHT AT THE Terminate OF THE TUNNEL?

In what is sure to be surprising news for all, the U.S. Securities and Exchange Commission (SEC) has decided to place a stay on three orders that rejected Bitcoin exchange-traded funds (ETFs) seeking to exist listed on the NYSE Arca and other regulated exchanges. Initially, the SEC denied each of the derivative backed Bitcoin ETFs over genuine concerns of manipulation, also as Bitcoins availability on numerous unregulated exchanges. In fact, some have gone as far equally suggesting that Bitcoin's recent 1 minute $300 dollar leap that coincided with BitMEX going offline for 'maintenance' is a validation of the SEC's apprehension to corroborate a Bitcoin-based ETF.

Surprisingly, later making yesterday's denial announcement ahead of schedule, the SEC has at present decided to review these orders, which were originally drafted past staff members on behalf of agency leadership.

In fact, SEC Commissioner Hester Peirce tweeted, "Yesterday's staff orders disapproving SRO rules related to a number of bitcoin ETFs are stayed pending Committee review." and She and then followed with an additional tweet explaining the previous one in plain English language.

Commissioner Peirce went on to explain that the SEC frequently delegates similar rulings to staff members, and reserves the right to review and meliorate decisions even later on official statements take been made.

In the past, Commissioner Peirce has voiced her dissenting opinion regarding SEC'south deprival of the Winklevoss twins' Bitcoin-ETF by arguing:

If we were to approve the ETF at issue here, investors could choose whether to buy it or avert it. The Commission'southward action today deprives investors of this choice. I reject the role of gatekeeper of innovation –a office very dissimilar from (and, indeed, inconsistent with) our mission of protecting investors, fostering capital formation and facilitating off-white, orderly and efficient markets.

Commissioner Peirce also provided a re-create of a letter of the alphabet addressed to the NYSE, which explains that SEC Chairman Jay Clayton and associated commissioners will carefully review each awarding to place whether or non SEC staff ruled fairly. While the letter does not provide a date for sharing this review decision, it is even so exciting for those who follow cryptocurrencies.

EUSTACE CRYPTUS | AUG 24, 2018 | 00:00

David – http://markethive.com/david-ogden

Subsequently Bitcoin Toll Breakout, Pending ETF Decision May Cap Gains

Bitcoin'south (BTC) jump to a 15-day high is encouraging, but caution ahead of the Usa Securities Exchange Commission's (SEC) imminent conclusion on a bitcoin substitution-traded fund (ETF) could limit farther toll gains.

The leading cryptocurrency rose to $half-dozen,899 on Bitfinex earlier today – the highest level since Aug. seven – and is accompanied by a x percent driblet in the BTC/USD shorts, adding acceptance to our cess that BTC has been mimicking the price action observed in the run-up to a major rally that occurred on April 12.

More importantly, BTC's convincing move above $6,600 marks an upside pause of the narrowing price range and signals continuation of the rally from the Aug. 14 depression of $v,859.

Then, it seems safe to say the doors have been opened for the psychological hurdle of $vii,000. Even so, that may be an uphill task in the curt term, equally investors are likely to adopt a cautious opinion ahead of the SEC's ruling on whether to permit the ETF – due in the side by side 36 hours.

Farther, BTC picked up a bid exactly at 1:00 UTC – the moment when Bitmex, the world'southward largest commutation for synthetic shorts, shut down for maintenance, forcing many to question the legitimacy of the price rally. Every bit a result, investors may remain on the fence until a more credible evidence of the bullish breakout emerges.

At printing time, BTC is changing hands at $half dozen,670 on Bitfinex – up 3.6 percent on a 24-hour basis. While prices could skyrocket if the SEC approves ProShares bitcoin ETF, the bitcoin market volition likely crater if the SEC rejects the ETF or delays the conclusion.

four-hour chart

The upside break of the diamond blueprint seen in the chart above confirms a bearish-to-bullish trend change, that is, the sell-off from the July high of $eight,507 has ended and the bulls have regained command.

The relative strength alphabetize (RSI) is holding above 50.00 in favor of the bulls. Meanwhile, the fifty-candle moving average (MA) is showtime to rising in a bull-friendly way and could shortly cut the 100-candle MA from below (bull cross).

Daily chart

BTC's rise to $vi,899 validates the bullish crossover betwixt the 5-day and 10-twenty-four hours moving averages (MAs) and the upwards sloping RSI.

Although it appears the charts are aligned in favor of the bulls, BTC has already retraced close to fifty percent of the gains seen today, perchance validating the skepticism effectually today'south rally.

What's more than, the retreat to $vi,670 likewise marks a failure to hold on to gains above the key resistance at $6,870 (38.2 percent Fibonacci retracement of the sell-off from $8,507 to $v,859).

View

• BTC's bullish breakout has proved to exist lacking in staying power. That said, credence to a higher place $vi,870 (Fibonacci hurdle) could boost the odds of a rally to $7,000.

• On the downside, a move below $6,230 (Aug. 20 low) would shift risk in favor of a drib below $6,000 (February low).

The SEC's decision on the bitcoin ETF could ship prices either fashion, but until and then the market volition likely trade on a cautious note.

Omkar Godbole

Updated Aug 22, 2018 at 11:28 UTC

David – http://markethive.com/david-ogden

Bitcoin price analysis – Blasts through $6,800 critical resistance; jumps 4% on a daily basis

• Bitcoin bounces sharply to trade intraday highs of $half-dozen,875.10 just currently seeking support above $6,700.

• Bitcoin price bullish momentum not only reentered the broken rising wedge pattern support, it broke out of its resistance to exam $6,900.

Bitcoin price is trading in the green on Tuesday 22 after adding about $400 in less than 30 minutes. The world'south largest digital asset by market capitalization has jumped 4 percent pushing the cost in a higher place $six,800 for the first time in weeks. Bitcoin opened the trading session at $6,476.97 and traded intraday highs of $half dozen,875.10.

The cryptocurrency not merely reentered the broken rising wedge support at the 50% Fib retracement level with the last swing high of $7,148.96 to a swing depression of $5,914.fifteen, it bankrupt out of the resistance at $six,632.31. The price trade above the medium-term stubborn resistance at $6,800, but stalled short of $6,900. At the time of press, BTC/USD is trading at $half-dozen,743 later on subtle corrections from the resistance.

Bitcoin is likely to settle in a bullish flag blueprint supported by the 61.eight% Fib level at $6,676.44. The trend is slightly bearish at the moment, but the outlook of the chart is still positive. The stochastic oscillator on the hourly nautical chart is retracting from the oversold to testify that the sellers are pushing for entries. The MACD momentum indicator, on the other hand, is deep in the positive region signaling that the buyers still have the command.

A support above $6,700 is vital to the buyers who at the moment, have their optics attack retesting $6,800 and $6,900 in the near-term. It is credible now that $vii,000 is within reach for Bitcoin in the Month of August in spite of the slight dip below $6,000.

John Isige

FX Street

David – http://markethive.com/david-ogden

Bitcoin (BTC) Toll Watch – More Bears Waiting to Hop On

Bitcoin Price Primal Highlights

• Bitcoin price broke below its ascending triangle consolidation to signal that more than losses are in the cards.

• Price is finding a bit of support, though, and so a pullback may be taking identify from here.

• The Fibonacci retracement tool shows the next potential resistance levels, but technical indicators are signaling more gains.

Bitcoin toll made a downside suspension from its triangle pattern and looks ready for a pullback earlier heading further downwards.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to indicate that the path of to the lowest degree resistance is to the upside. In other words, in that location's still a risk for the uptrend to resume and toll to move back inside the triangle pattern.

However, the 200 SMA lines up with the 38.2% Fib at $half dozen,360.50 to add to its force as resistance and the 100 SMA coincides with the 61.8% Fib at $vi,436.90. This is also near the broken triangle support, which might hold equally resistance from here. A move past this level could lead to another test of the resistance at the swing high.

RSI already made it to oversold territory and is pulling back up to signal that buyers are returning while sellers have a break. Stochastic is too heading up to indicate a return in bullish momentum.

Market Factors

Bitcoin price seems to be shedding its gains due to the comeback in risk appetite in global financial markets. The economic turmoil in Turkey is taking the backseat to the upcoming merchandise talks between the US and China, which many traders are hoping to get positive updates from.

One affair to keep in mind, though, is these are just low-level talks and there's a depression likelihood of any decisions being made. Worsening trade tensions could even lead to a return in risk disfavor and dollar weakness, which might revive demand for bitcoin. Escalating troubles in Turkey could too boost bitcoin demand as people look for an culling store of value.

SARAH JENN | AUGUST 21, 2018 | 4:nineteen AM

David – http://markethive.com/david-ogden

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Source: https://topseoresultstool.com/2018/08/

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