submitted by Smart_Smell to Robopay [link] [comments]
Cryptocurrency technical analysis: cryptocurrency assets began the rally
Top crypto assets have been in an uptrend this week. One of the reasons for the growth was the positive dynamics in the US stock market. This was facilitated by the decision of the US Federal Reserve to continue the asset repurchase program in current volumes until March 2021. In addition, a number of news has influenced the digital asset market. So, on July 25, Chief Justice of the District Court of the District of Columbia Beryl Howell recognized bitcoin as a form of money and stated that the asset falls under the money laundering law. This decision was made during the $311 million laundering case, where the head of the Coin Ninja crypto project Larry Dean Harmon is the defendant.
Also since the beginning of the week, Bitcoin futures trading volumes have shown impressive growth, and the regulated crypto exchange Bakkt has reported closing of record high trading sessions. Also, significant support for the growth of the first cryptocurrency was provided by the massive closing of short positions, which were liquidated on July 28 for more than $500 million. And on July 29 it became known that the Central Bank of the Philippines is now participating in the race to launch the first national cryptocurrency. For this, a special committee will be created that will study the issue of launching the CBDC and the legal norms necessary for its work.
BitcoinAfter a rebound from support at $9150, bitcoin quotes easily overcame the $9500 level, which now also acts as support. The 200-day simple moving average (SMA) line passes in this area, as well as the boundaries of the technical analysis “Triangle” (they are marked in pink on the chart below). This allowed Bitcoin to reach the first goal in the form of cluster boundaries of $9,900- $10,000 and $10,400- $10,500.
Now the movement is taking place within the consolidation of $10,800- $11,300. In the coming weeks, maintaining the upward momentum will allow BTC quotes to rush to the following targets — $11,580 and $12,000. divergences ”between the highs on the chart and the MACD oscillator. If this scenario is realized, the targets will be the levels of $10,400 and $10,000. Further downward movement looks unlikely, but may lead to a retest of the $9,500- $9,600 area, where whales will most likely prefer to gain new positions in bitcoin.
BTC / USD chart, four-hour timeframe
On the daily chart of Bitcoin, you can see that there was a breakthrough of the boundaries of the technical analysis model “Triangle” (in the chart below they are marked in orange). From the point of view of technical analysis, a retest of the upper border of this figure should follow in the near future. This can lead to a decrease in the price from the current resistances of $11,000 and the cluster $11,200- $11,300 back to the supports at $10,500 and $10,000. If this scenario is implemented, there is also a chance of Bitcoin falling to the important cluster of $8900 (50% retracement at Fibonacci levels) — $9580.
The presence of divergence between the BTC price and the MACD oscillator indicates a high probability of a correction. But at what levels this reversal will occur is not yet known. But until the end of this year, the first cryptocurrency is ready to maintain its growth trend, which can lead to reaching $11,800, $12,500, a cluster of $13,100- $13,350 and $14,000.
BTC / USD chart, daily timeframe
EthereumAltcoins went up after bitcoin. The ether also shows good growth, the quotes of which continue to confidently rise from the support at $233, below which the 200-day SMA line is located. After overcoming the first target at $280, the ether rushed to the next targets located at the resistance levels of $300 and $320.
Now the ETH quotes have returned to the framework of the “Flag” graphical model, which can reduce the volatility of the asset. At the same time, a correctional decline below $320 will allow big capital to gain positions. The support levels will be $300, $280 and $251. The targets for the development of a long-term upward movement are $363.80, $400 and $420.
ETH / USD chart, daily timeframe
LitecoinOn the daily chart, Litecoin confidently maintains a positive momentum, which led to a breakout of the boundaries of the Descending Triangle technical analysis model. The upward breakout of the $47.45 level, just above which the 200-day moving average (MA) line is located, allowed LTC to go to the targets of $51.50 (38.2% correction level along the Fibonacci lines) and $56.80.
In the medium term, further upward movement may develop to $60.80, $65, $70 and even $83. However, in the event of a correction from the current levels, the whales are likely to gain positions only at the previously tested levels of $50 and $51.50.
LTC / USD chart, daily timeframe
Bitcoin CashBitcoin Cash, as expected, soared from the borders of the “Triangle” price model (on the chart below the borders are marked with pink lines) to the resistance located at the upper border of the “Horizontal Channel” $200- $272. Then the altcoin continued its way to the $305 area.
A correction may develop towards the 200-day SMA line, which is located in the $272 area. But in the long run of the coming months, we can expect a breakout of the $305 level, which will allow Bitcoin Cash to go up to the $356- $368 cluster and further to $400.
BCH / USDT chart, daily timeframe
XRPXRP also took advantage of an influx of liquidity, which led to the breakout of the boundaries of the Descending Triangle model. This allowed the asset to break through the boundaries of the “horizontal channel” of $0.18- $0.2050, in the area of which the 200-day MA line passes. As a result, XRP reached its first targets at $0.2360 and $0.2540.
In the long term, the bulls will be able to take profits at $0.27, $0.2860 and $0.3080. At the same time, the levels of $0.2040, $0.2360 and $0.2540 in the event of a correction can act as supports for the current XRP quotes.
XRP / USD chart, daily timeframe
Binance CoinBinance Coin also did not fail to take advantage of the market situation to break through the resistance in the form of the upper boundary of the “Ascending Triangle” and the level of $18.14. This allowed us to start the long-awaited growth towards the first target in the form of a powerful $19.36– $20 cluster. Maintaining this momentum in the months ahead will lead to the achievement of targets at $21.30, $23.50, $25.80 and $28.20.
But before that, the asset may wait for a correction to the levels of $19.36 and $18, where the 200-day SMA line is located.
BNB / USDT chart, daily timeframe
At the end of this week, we can confidently say that another rally has begun among crypto assets. Moreover, it occurs before the start of the correctional decline on the world stock markets, which some investors warn about. Thus, the cryptocurrency market is becoming a new safe haven for whales, which have preferred to accumulate positions since March. We will not be surprised if this upward movement will last more than one month.
Subscribe to our Telegram channel
The exchange rate for the Binance Coin was last updated on November 2, 2020 from coinmarketcap.com. The exchange rate for the Philippine Peso was last updated on October 29, 2020 from The International Monetary Fund. The BNB conversion factor has 15 significant digits. The PHP conversion factor has 6 significant digits. BNB PHP coinmill.com 0.02000 26.02 0.05000 65.06 0.10000 130.12 0.20000 ... United States dollar to Binance Coin (USD to BNB) Quickly and easily calculate foreign exchange rates with this free currency converter. From (Please choose) To (Please choose) Rate Date Current ... This page lets you see current exchange rate for Binance Coin to Bitcoin including currency converter, forecast, ... (USD) 27.662. 2.2094 (+8.68%) 1M 19.74%. British pound (GBP) 21.619. 1.7268 (+8.68%) 1M 22.18%. Euro (EUR) 23.348. 1.8615 (+8.66%) 1M 18.72%. Canadian dollar (CAD) 36.454. 2.9117 (+8.68%) 1M 18.68%. Australian dollar (AUD) 37.976. 3.0333 (+8.68%) 1M 17.47%. Japanese yen (JPY ... Conversion from Binance Coin to Philippine peso can be done at current rates as well as at historical rates – to do this, select the desired exchange rate date. Today’s date is set by default ... How much Binance USD is 995 PHP? Check the latest Binance USD (BUSD) price in Philippine Peso (PHP)! Exchange Rate by Walletinvestor.com Binance has added support for the Philippine Peso (PHP) peer-to-peer (P2P) trading against BTC, USDT, ETH, BNB, BUSD and EOS with zero transaction fees. Binance is looking for local P2P merchants who have a stable source of cryptocurrencies and PHP. Merchants can profit by offering PHP and cryptocurrency trades and also enjoy tailored benefits ... So, you've converted 1 Philippine Peso to 0.020691 Binance USD.We used 48.330721 International Currency Exchange Rate. We added the most popular Currencies and CryptoCurrencies for our Calculator. In finance, an 1 BTC to PHP exchange rate is the Bitcoin to >Philippine Peso rate at which 1 Bitcoin to Philippine Peso will be exchanged for another. It is also regarded as the value of 1 BTC to PHP in relation to another currency. For example, an interbank exchange rate of 114 Japanese yen to the United States dollar means that ¥114 will be exchanged for each US$1 or that US$1 will be ... 🎉 Our October 2020 Monthly Cryptocurrency Report is here🎉 The rise of Bitcoin, ... Token Exchange-based Tokens. Market Cap $4,252,741,564. 24 Hour Trading Vol $381,868,644 . 24h Low / 24h High $28.36 / $29.80. Circulating Supply 147,883,948 / 179,883,948 BNB. USD. Overview; Markets; Chart; Historical Data; Binance Coin - US Dollar Chart (BNB/USD) Conversion rate for Binance Coin to USD ... The Bitcoin exchange rate is calculated by multiplying the average BTC/USD rates across all major Bitcoin exchanges with the mid-market rates of USD into any other local currency. Due to limited availability at some local Bitcoin markets and various other factors, it can be a challenge to directly convert your local currency into Bitcoin, which leads to variable prices based on geography.
[index]          
A simple PHP script to get current Bitcoin exchange rates in US Dollar, Pound Sterling and many other currencies. Basic PHP API for cryptocurrency exchange r... Checkout my new video: https://www.youtube.com/watch?v=BKCCgB99Rto&t=265s #Bitcoin, #CryptoTrading, #Binance, ️Please like, SUBSCRIBE & Share the video ️ ⚡... Drop shipping in Philippines - Duration: 1:05:23. Olern 181,106 views. 1:05:23. How to turn your Ripple back in to USD using Binance ... How to SHORT or LONG Bitcoin with Leverage BINANCE ... This video shows you how to buy/sell coins and use https://www.binance.com It's very easy. Just remember to load some Bitcoin or coins before you start trying to buy things on there because that's ... This video was the old version of PDAX I ENCOURAGE YOU TO WATCH MY LATEST VIDEO ABOUT PDAX: https://www.youtube.com/playlist?list=PLzKnWOuYT-c9L4vVmrQk80oh1F... Since Binance is not going to be available in the US anymore after September 12th, here are some alternative exchanges to use. ----- Get Brave a... Get an additional $10 in Bitcoins from Coinbase when purchasing through my referral link http://fredyen.com/get/Bitcoins Here is a quick beginner's guide on ... How to Cash Out Your Bitcoins in the Philippines - Duration: 4:40. WeTheCryptos 34,971 views. 4:40 . EARN P110k in 5 days Bitcoin PDAX (BSP Approved!) - Duration: 5:22. DIGITAL BIZ 7,946 views ... Bitcoin experienced its worst month since departing from its all-time highs 2 years ago, but still it managed to outperform the US stock market in the first quarter of 2020. Major crypto exchange ... Learn the basics of Bitcoin Trading in Philippines for beginners. In this video I will show how to Buy and Sell or Trade btc to other altcoins. I will also s...