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Data from Coin360 showed BTC/USD 2.25% up on Monday, climbing through $9,800 to challenge a ceiling it failed to break the day before.
At press time, the pair traded at just below the $9,800 mark, having hit $9,840 before rejecting further gains in the short term.
- Bitcoin’s price action has stalled beneath the 100-day moving average, signalling indecision and increasing the odds of another sell-off.
- The daily technicals (RSI and awesome oscillator) show no signs of a relief in bearish selling pressure, at least not for the next few days.
- Should the bulls conceit defeat this week, expect another retest of $9,300 on supporting bear volume.
Veteran trader Peter Brandt believes that Bitcoin is in the early stages of a new parabolic uptrend that could lead it significantly past its all-time high price.
Brandt is, of course, the same trader who predicted the Great Crypto Crash of 2018 and Bitcoin’s major price increase this year when everyone else was talking about price capitulation.
The bitcoin price rallied through the early part of Monday trading and was last seen hovering near session highs. BTC/USD rose 1.1% to $9,872 on Bitstamp, the highest since Wednesday.
Bitcoin has returned above the 100-day exponential moving average (EMA), a sign that price action was picking up momentum. The relative strength index (RSI), a leading momentum oscillator, is back at 45 after plunging below 40 last week. When RSI levels approach 30, it means the asset is oversold and due for a correction.
The crypto markets are continuing to trade sideways, but the outlook appears to be gradually improving. Bitcoin gained more than 2% over the weekend, while altcoins show a diverse landscape of gains and losses
Bitcoin has recorded fresh gains coming into the new week. The new injection revives many investor’s wishes to get back above $10K. Last week prices plunged, seeing the asset wipe out more than 6% of its value to drop below $9,500.
By doing so, the asset broke two crucial supports, $10K and $9,500. Fortunately, before the asset could fall as far as $9K, the asset found support above $9,400. This was followed by a bounce-back above $9,500.
Bitcoin (BTC) trading below or above $10,000 USD is becoming much of a benchmark for bearish and bullish traders respectively. However, zooming out the charts, a very bullish sign appears on the monthly candles.
Since the start of August, the price of Bitcoin has oscillated around the psychological barrier and is currently trading at $9777 USD as at time of writing. The stagnation of BTC’s price below the $10K mark is causing worry across the BTC community but zooming out the charts shows the digital asset is still on a bullish momentum.
Since July, the bitcoin price has tested the so-called “range bottom” from $9,400 to $9,700 a total of six times, weakening the support over the past two months.
Due to the weakened support, analysts like Nick Cote, DonAlt, Scott Melker, and Josh Rager have said that if the bitcoin price fails to climb over key resistance above $10,000 in the near term, it may risk falling below the $9,000 level.
The Telegram Open Network [TON], which is Telegram’s blockchain will publicly debut its testing today and is set to release a fully-fledged blockchain network, by the end of October. Telegram will be forced to return the invested money if it does not meet its deadline.
In a recent interview, Crypto analyst Tone Vays expressed his opinions on the latest entrant to the crypto community. He stated that he really liked Telegram as a messaging app but was against the idea of the company starting its own token. He said,
It’s less than a month until Bakkt officially launches its Bakkt Warehouse. From Friday, the 6th of September, interested users will have access to the Bakkt Warehouse for depositing physically-settled futures contracts beginning in the U.S. Bakkt, which was initially announced more than a year ago, has had a rough time since then, facing regulatory issues which prevented it from kicking off before now as its launch was postponed more than a few times.
Following last weeks announcement on the integration of Bitcoin into Samsungs signature wallet, which was originally developed only for Ethereum and ERC-20 tokens, Samsung is ramping up focus on blockchain-based solutions and products. According to reports, Samsung will disclose its strategical approach towards blockchain technology and products at its annual conference held on the 29th and 30th of October in San Josè, California.
Binance, one of the largest and most recognized cryptocurrency exchanges in the market launched two Futures Testnet Platforms. The information was released by the company in a recent blog post informing they have been working on these platforms behind the scenes.
“Bitcoin has again failed the safe-haven test,” said Peter Schiff, the CEO of Euro Pacific Management. “On Friday, as escalating trade tensions sent global stock markets plunging, investors sought refuge in monetary safe-havens. The Japanese yen, Swiss franc, and especially gold all moved higher. Bitcoin plunged by more than stocks.”
Few hours ago, in a tweet, acclaimed trader and analyst Peter Brandt hinted at bitcoin ‘possibly’ entering the next leg of its next/ fourth parabolic price rally. But, what really is his claim based on?
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코인데스크코리아와 부산광역시는 오는 9월3일 해운대 파크 하얏트 호텔에서 디지털 자산 거래소 박람회 ‘DAXPO2019’를 연다. 각 분야 전문가들을 초청해 다양한 관점에서 디지털 자산 생태계가 맞이한 새로운 국면을 진단할 예정이다.
블록체인 기술과 산업에 전문성을 인정받는 미디어 5사가 공동으로 아시아 최대 규모 블록체인 컨퍼런스 ‘코리아블록체인위크 2019(KBW2019)’를 오는 9월 27일부터 10월 4일까지 개최한다.
9월30일부터 10월1일 양일간 그랜드 인터컨티넨탈 서울 퍄르나스에서 팩트블록의 ‘코리아블록체인위크(KBW) 2019’ 주간(9월27일~10월4일) 중 메인 행사로 열리는 디파인 컨퍼런스에는 국내외 주요 기업들과 블록체인 프로젝트들이 대거 참여할 예정이다.