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Ethereum Price Analysis: ETH Soon To Record a New 2019 High?

Over the past few days, Ethereum has continued to climb higher and has now reached the May 2019 resistance area between $271 – $279. This area had caused ETH to retrace as the bulls struggled to break above it during May 2019. Ethereum has now increased by a total of 13% over the past 7 days – but some of the technical indicators suggest that the current resistance still may be too strong for ETH.

Ethereum remains the second largest cryptocurrency with a current market cap of around $29.12 billion. The coin has been on an incredible bull run over the past 3 months, increasing by a total of 94%.

Looking at the ETH/USD 1-Day Chart:

  • Since our previous ETH/USD analysis, we can see that ETH/USD continued to climb higher from the $250 support level but has now reached the aforementioned resistance area around $271 – $279. We can see that the cryptocurrency spiked higher toward the $279 level in yesterday’s trading, however, the price was unable to break above this level.
  • From above, if the bulls can break above the upper boundary of the resistance range at $279 – and above $280 – the next levels of resistance lie at $290 and $300. The resistance at $300 is bolstered by a long term bearish .5 Fib Retracement at $298.50 and by a long term ascending resistance trend line which also converges in this area. Above $300, further resistance lies at $315, $334 and $350. If the bulls continue further, higher resistance lies at $361, $380, $400 and $421.
  • From below: The nearest level of support now lies at $260 and $250. Beneath $250, further support lies at $240, $235, $224, $210, and $200.
  • The trading volume has managed to remain pretty high, slightly above the average.
  • The Stochastic RSI is quickly reaching overbought conditions which may suggest that ETHUSD will not break the $279 resistance level on this test as the market may be starting to become overstretched.

ethusd_jun17-min

Looking at the ETH/BTC 1-Day Chart:

  • Against Bitcoin, we can see that ETHBTC has fallen further from the support at 0.03 BTC. We can see that ETHBTC continued to fall until rebounding from the support at 0.02920 BTC to reach its current point at around 0.02935 BTC.
  • From above: The nearest level of resistance lies at 0.02970 BTC and 0.03 BTC. If the bulls climb above 0.03 BTC, higher resistance is found at 0.030 BTC and 0.031 BTC. Above 0.031 BTC, further resistance can be located at 0.0318 BTC 0.032 BTC, and 0.0325 BTC.
  • From below: The nearest level of support now lies at 0.02920 BTC. Beneath this, support is found at 0.02897 BTC, 0.0285 BTC, 0.028 BTC, and 0.027 BTC.
  • The trading volume is pretty lackluster as it remains below average for June 2019.
  • The RSI has recently broken beneath the 50 level to indicate that the sellers have taken control of the market momentum. The Stochastic RSI sits in oversold territory as we wait for a bullish crossover signal above.

ethbtc_jun17-min

The post Ethereum Price Analysis: ETH Soon To Record a New 2019 High? appeared first on CryptoPotato.

Source: Crypto Potato

Binance Introducing Bitcoin-Pegged Token To Boost DEX Utility

The world’s leading cryptocurrency exchange doesn’t seem to show any signs of slowing down. Just today, it announced that it will issue a number of cryptocurrency-pegged tokens on its decentralized exchange starting with BTCB – a BEP2 token pegged to BTC.

BTC-Pegged Token on Binance Chain

Earlier today, the CEO at Binance, Changpeng Zhao came up with a tweet saying that 9001 BTC will soon be transferred for a “good thing.” Naturally, this caused immediate curiosity among members of the community, most of which praised the CEO for his transparency, as it’s always the case.

It wasn’t long after Zhao’s tweet the reason became evident. The world’s leading cryptocurrency exchange has announced its very first cryptocurrency-pegged token – BTCB.


It is a BEP2-based one which will be pegged to BTC. Immediately after the announcement, the exchange also explained that this is the reason for the transfer of the 9001 BTC earlier today. It was also clarified that 9001 BTCB tokens were already minted.

BTCB will be 100% backed by Bitcoin and the reserve address can be found here. The announcement also outlines that large buy orders will be maintained on the trading pair on Binance.com and that there will be a price spread of about 0.1%, hence providing an easy way for anyone to convert from the pegged token to the native one on the main exchange.

What’s The Point of a BTC-Pegged Token on Binance Chain?

As detailed in the official announcement, cryptocurrency-pegged tokens on Binance Chain bring a few distinct advantages.

For once, it allows traders on the DEX to receive exposure to coins which have their very own blockchains and are not native on Binance Chain. This should, in theory, also increase the volume and the liquidty, hence substantially improving the overall utility value of Binance DEX.

The announcement details that this can also provide a higher degree of transparency compared to fiat tethering as is the case of USDT, for example, because anyone can publicly audit the reserves at any time they want.

However, the post also says that Binance hasn’t excluded decentralized solutions such as cross-chain atomic swaps and that such are already being developed at the time of publishing the announcement.

Finally, Binance revealed that the BTCB/BTC trading pair will be announced within a “day or so” on the main exchange while issuing a proposal for DEX listing as well.

The post Binance Introducing Bitcoin-Pegged Token To Boost DEX Utility appeared first on CryptoPotato.

Source: Crypto Potato

Is Binance – US Clash The Reason Why The Anonymous Beam & Grin Gained Over 80% This Week?

Privacy-oriented cryptocurrencies Beam (BEAM) and Grin (GRIN) have managed to increase in value substantially over the past few days. Most of the gains were made following Binance’s recent announcement that they will no longer allow US traders to use the exchange.

Privacy-Focused Crypto On The Rise

A few privacy-oriented cryptocurrencies have seen splendid increases throughout the past few days. Namely, these include Beam, Grin, and Monero (XMR). Let’s have a look at each one individually.

Beam (BEAM) has increased by about 115% over the last 7 days. During the past 24 hours alone, the cryptocurrency is up more than 23%. BEAM prides itself as a cryptocurrency which allows completely private transactions without revealing the address or any other private information. Moreover, it also claims that users have complete control over their privacy.

Another fairly popular cryptocurrency which is also oriented towards complete privacy is Grin. Over the past 7 days, GRIN is up about 82%, while also marking an impressive increase of about 12% on the day.

Both Grin and Beam are based on the Mimblewimble protocol which became popular fairly recently. It relies on strong cryptographic primitives and it provides a framework for a blockchain which is centered around fungibility, privacy, and scalability.

It’s also worth mentioning that what is perhaps the most popular privacy-oriented cryptocurrency out there, Monero (XMR), has also seen a notable price appreciation. It’s up about 17% during the last week.

What’s Causing The Surge?

As it’s always the case, determining the exact reason for the surge of those cryptocurrencies is rather challenging. However, there are a few things which need to be outlined.

All of the mentioned coins are oriented heavily towards providing users with increased privacy. On June 14th, Cryptopotato reported that the world’s leading cryptocurrency exchange, Binance, will no longer allow traders from the US to trade on the platform. Looking at the chart shows that the majority of the gains in all of the three cryptocurrencies that we mentioned above are made exactly after this period.

In other words, at times where the biggest cryptocurrency exchange is preparing to shut the door on US traders, we can see a notable surge in privacy-oriented cryptocurrencies. While Binance has also said that it’s working on an alternative for US traders, it will be a lot more limited compared to the currently existing solution.

Hence, it could be that users are looking for increased privacy at times when the major exchange is looking to cut them out.

On another note, it can’t be overlooked that Bitcoin (BTC) also surged quite a bit throughout the weekend. The cryptocurrency finally broke the $9,000 level, currently sitting at around $9,150. Big moves of the kind also tend to bring other altcoins up. However, the increase in Grin and Beam is a lot more notable compared to that of other major altcoins, which is perhaps a reason to consider Binance’s decision as a more likely cause of the surge.

The post Is Binance – US Clash The Reason Why The Anonymous Beam & Grin Gained Over 80% This Week? appeared first on CryptoPotato.

Source: Crypto Potato

The Analyst Who Predicted BItcoin’s Bottom & Current Price Says $16K In October

An anonymous analyst, who has already successfully predicted that Bitcoin would reach $9,200 by July 2019, now believes that Bitcoin will reach $16,000 by October 2019. The analyst had nailed his prediction that BTC would reach $9,200 by July 2019 after posting his analysis back in January 2019;

The analyst starts by stating that we are already in a bull market – but bear in mind that he had posted this on 01/21/19 – so he had already noticed the bull market forming very early in the year. He went on to state that we are in the last 3 months of accumulation – this would have been January, February, and March – and after this, we should see Bitcoin slowly rise and then boom.

Well, it seems that so far, his prediction is pretty accurate. We did reverse the previously bearish market during mid-December 2018 and began the bullish market as he had formulated his analysis post. We then went on to see 3 months of accumulation during January, February, and March until Bitcoin started to pop in April and continue to rise higher.

The last part of his analysis stated that after the slow rise we would see a “boom”. It seems that the boom may be about to start as Bitcoin has already reached the analyst first two predictions of $5,300 by April 2019 and $9,200 by July 2019.

Bitcoin At $16,000 By October 2019

His next prediction is that Bitcoin will reach a total of $16,000 by October 2019. This is a bit of an extreme prediction which will require the bullish market to continue throughout the rest of the summer. Bitcoin will need to increase by a total of 72% from the current price to reach the $16,000 target level by October. Considering the fact that Bitcoin has surged by a total of 127% over the past 3 months alone, it is not too outlandish to suggest that it can continue to reach $16,000 by surging another 72%.

Taking a quick look at the long term Bitcoin chart above, we can see that the last time that Bitcoin was at the $10,000 level was during January 2018, when it was actually plummeting. For the cryptocurrency to reach the target level, it will need to overcome some serious resistance at $10,000, $12,000, $13,000 and $15,000.

We can also see that during March 2019, price action had managed to break above a long term bearish trend line which had marked the end of the previous bearish cycle and the start of the new bullish run. Bitcoin had then gone on to create a high above $6,200 which had officially marked (by traditional financial market definitions) the start of the bull period as price action had risen 2x from the December 2018 bottom at around $3,100.

This anonymous analyst’s predictions, that were posted in early January, have played out remarkably accurately which can lead to us to grant some form of credibility to his future analysis. However, the analyst does get a bit extreme for his 2020 predictions as he believes Bitcoin will reach $56,000 by July 2020 and $87,000 by November 2020.

Whichever way it plays out, the analyst has certainly done a very good job so far with his predictions.

The post The Analyst Who Predicted BItcoin’s Bottom & Current Price Says $16K In October appeared first on CryptoPotato.

Source: Crypto Potato

Litecoin Price Analysis: LTC Maintains $130 Amid Rising Bitcoin. What’s Next?

Litecoin has stalled slightly at the $140 level over the past couple of days marking a slight increase of 0.14% in the past 24 hours. The cryptocurrency surged 17% over the past week which brought it up to the $140 resistance level.

Litecion is currently the 4th largest cryptocurrency, sitting on a market cap of about $8.45 billion. Litecoin saw on an epic run as traders load up on the coin in anticipation for the scheduled block halving in about 50 days. The cryptocurrency increased by 122% over the past 3 months as people start to increase their holdings.

Looking at the LTC/USD 1-Day Chart:

  • Since our previous Litecoin analysis, we can see that Litecoin couldn’t surge past the $140 level and had dropped into support at the $130 level. LTCUSD went on to rebound from here but has still struggled to make any movement above the $140 resistance.
  • From above: The nearest level of resistance above $140 lies at $145.76 which contains a long term bearish .786 Fibonacci Retracement level. Above this, higher resistance lies at $150, $155 and $161 – where lies the bearish .886 Fib Retracement. Above this, resistance is found at $170, $180, and $185.
  • From below: The nearest level of support now lies at $130. Beneath this, further support is located at $122, $119, $110 and $100. Beneath $100, support is found at $97.18, $90 and $87.81.
  • The trading volume has continued to remain consistently high.
  • The Stochastic RSI has recently reached overbought conditions and has produced a bearish crossover signal which suggests that the market may be ready to retrace briefly.

ltcusd_jun16-min

Looking at the LTC/BTC 1-Day Chart:

  • Against Bitcoin, we can see that LTC has fallen from the 0.01731 BTC resistance level and has found support around the 0.01443 BTC level – where lies the short term .5 Fib Retracement.
  • From above: The nearest level of resistance now lies at 0.015 BTC. Above this, higher resistance lies at 0.0155 BTC, 0.016 BTC, 0.0165 BTC, and 0.01730 BTC. If the bulls can break above 0.017 BTC, further resistance is found at 0.018 BTC, 0.01860 BTC, and 0.019 BTC.
  • From below: The nearest level of support lies at 0.0144 BTC. Beneath this, further support lies at 0.014 BTC, 0.013643 BTC, and 0.0135 BTC. If the selling continues beneath 0.0135 BTC, further support lies at 0.013 BTC and 0.0125 BTC.
  • The trading volume has been very high since reversing from the 0.017 BTC resistance level.
  • The Stochastic RSI has recently dropped from overbought conditions and is now approaching oversold conditions which may suggest the recent pullback is ready to stop.

ltcbtc_jun16-min

The post Litecoin Price Analysis: LTC Maintains $130 Amid Rising Bitcoin. What’s Next? appeared first on CryptoPotato.

Source: Crypto Potato

Lucky Day: Discovered $50,000 In a Bitcoin Donations Wallet From 2012, Now Looking To Donate It

Like gold bullion that drowned in the sea, Bitcoin wallets too can disappear into the depths of the digital sea. Of the 21 million total Bitcoins, nearly 18 million have already been mined. However, not all of them are accessible, and according to certain estimations, several million are already lost forever.

Interestingly, there have been incidents when lost Bitcoin has been found by its owner. Ron Gross recently described such a case. Gross is a well-known figure from the Bitcoin community who was also the founder of Mastercoin, one of the first Altcoins.

“In those days of 2012, the discussions around Bitcoin were not as widespread as they are today and were mainly conducted on the BitcoinTalk forums.  At one point someone just offered a Bitcoin grant to be paid for someone who would implement a project to improve the currency’s scalability, ” Gross told CryptoPotato.

Gross liked the idea and quickly opened a wallet for Bitcoin donations for implementing a project with the promising name of Blockchain Pruning.

These were the early days of Bitcoin, before the Electrum wallet and any hardware wallets, so Gross had opened the Bitcoin wallet through the infamous Blockchain.info. The donations accumulated amounted to a total of 5.725 Bitcoin, whose current value is approximately $50,000.

Back in 2012, the price of Bitcoin was much lower than its current value, and since the project did not come to fruition, the coins were just forgotten in the wallet over the years.

Who wants a $ 50,000 donation?

However, the taxation of crypto has awoken the wallet from its long sleep. The need to report crypto transactions forced Ron to dig deep into his crypto history in an attempt to trace his full activity, and after seven years, he discovered this lost donation wallet.

bitcointalk_rongross-min2-min
The recent Bitcointalk message by Gross

The wallets on Blockchain.info are associated under the Hybrid wallets category, where access to the wallet is made via the web. The private keys are encrypted and stored on a central server, and access to the wallet is only made possible via a password.  Although Gross knew the password, he could not access the wallet due to changes made over the years, and only after contacting Blockchain.info’s customer service, did he successfully retrieve access to the funds.

Since that time, Gross has been wondering what to do with the funds he raised. “Since it has been a long time, I will wait for the relevant people to respond, and if there is no substantial interest in the next two weeks, the funds will be donated to a relevant project in the field of improving the performance of  Bitcoin,” stated Gross.

Study: About 20% of Bitcoin is lost

Unlike Gross’ case, not all lost wallets are destined to be found. A recent study found out that the total number of lost Bitcoins range from 2.78 to 3.79 million, which is roughly 15-20% of the total Bitcoin in circulation. Among the lost coins are Satoshi Nakamoto’s wallets, which contain around one million Bitcoins, according to various estimations.

In conclusion, Bitcoin is a cryptocurrency that is controlled by the holder of the wallet’s private keys, and as such, it requires a high level of responsibility. James Wallace was miserable to lose the private keys to his wallets containing around 7,500 Bitcoins, which is approximately 60 million dollars as of writing this post.

The post Lucky Day: Discovered $50,000 In a Bitcoin Donations Wallet From 2012, Now Looking To Donate It appeared first on CryptoPotato.

Source: Crypto Potato

NEXT BLOCK ASIA & Fabulous Asia Fashion TV After Party

Bangkok, Thailand will host the 2-day NEXT BLOCK ASIA “Beyond Crypto” by Krypton Events and CoinAdvice on 25-26 June 2019 at the W Hotel. The conference will bring together experts from CRYPTO and BEYOND, combining the best of Blockchain, CFD and Affiliates with the next generation of traditional finance.

Bringing together 750+ participants and 45+ distinguished speakers, investors & startups, the Conference will be devoted to shared fields and common grounds of crypto universe and traditional finance. With the umbrella topic of the conference “Beyond Crypto” the participants will discuss the best of both worlds and how to move the industries from denial and antagonism to cooperation and mutually beneficial coexistence.

As a good tradition, we will host a Private Investors Pre-Party the day before the Conference, where investors can network, discuss, find co-investors, meet best startups – all while enjoying refined drinks and buffet. And of course, the conclusion of the event will be celebrated by the most extraordinary, spectacular, unforgettable Asia Fashion TV After Party co-organized with Fashion TV to conclude the  NEXT BLOCK ASIA on June 26th.

On June 27 join a Cultural Day – a unique opportunity to explore different faces of Bangkok while building connections and enjoying an award-winning 5-hour bicycle & boat tour by Co van Kessel and NEXT BLOCK ASIA!

NEXT BLOCK ASIA Keynote Speaker:

  • Edward Chen, Houbi Asia Pacific Managing Director.

A sneak-peak of the confirmed speakers:

  • Giacomo Arcaro, №1 European ICO Growth Hacker, ICO STO Advisor, University Professor,н

  • Herbert R. Sim, TheBitcoinMan, Broctagon FinTech Group,
  • Felix Mago, Co-Founder of Dash Thailand
  • Topp Jirayut Srupsrisopa, Co-founder & CEO at Bitkub Capital Group Holdings Co., Ltd Board of Director at Thai Fintech Association,
  • Sean Jong, COO of K-Tune Sagl,
  • Neha Mehta, Founder of FemTech Partners,
  • Chris Ziomkowski, Founder at XTend Online,
  • Ralph Liu, Founder and CEO, MuleChain, Inc.

Check next-block.org for the event’s agenda and attending speakers. If you want to know what to expect, take a look at our highlights from recent events in Sofia, Tel Aviv and Kiev.

Present your company in the EXPO ZONE and/or from the main stage – we facilitate promising ventures in getting a great audience.

To get a ticket, sign up for presenting your project, becoming a sponsored or a media partner, visit our site at  next-block.org.

To follow the conversation and deepen engagement with us and participants please join our Facebook event.

Media contacts:  Heena Gupta , +91 965 439 47 97 |  Svitlana Kokarieva , +38 063 213 12 12

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Source: Crypto Potato

Bitcoin Sets a New 2019 High: BTC Price Analysis & Overview Following The Breakout Of $9,000 – $10K Next Target?

Bitcoin doesn’t want to calm down. Just two days ago the coin was trading for $8100, and during the past hours, BTC was ready to set a new 2019 high, almost touching the resistance level at $9400.

If you had to put up a survey during late December 2018, when Bitcoin was hovering around $3500, you would find almost no one saying that 2019 will be bullish for Bitcoin. However, crypto is always unexpected.

The numbers show that Bitcoin completes a 200%+ move since 2019 begun as well as a weekly move of 24%.

Where can it go from here? There’s bullishness surrounding the coin, probably due to the hype of the coming up Facebook coin, along with Binance closing its gates to US traders (which probably caused many to hedge their altcoins into Bitcoin).

The last can be seen by looking at the following data. Yesterday the market cap was $273, with Bitcoin $154.4 of it (56.3% dominance). Today, $13 Billion was added to the market cap, but Bitcoin is responsible for most of the addition as it adds $10 Billion. The Altcoins, in response, are tumbling against Bitcoin and raising a lot less in their USD value.

Last thing, weekends are so far so good for Bitcoin during the past months. We had recently explained why this happens in detail.

Total Market Cap: $286 Billion

Bitcoin Market Cap: $164.4 Billion

BTC Dominance: 57.3%

Looking at the 1-day & 4-hour charts

– Support/Resistance:
Following the breakout, Bitcoin is now aiming for higher levels, which are old resistance levels from the bearish 2018. The next significant resistnace level lies at $9400. Above is $9600 and the legendary level of $10,000, which seems closer than ever in the past year.

From the bearish side, Bitcoin has set the $9000 – $9100 as its first support area, besides lies $8800, before lower support levels at $8500, $8400, $8200 – $8250 and $8100.

– Trading Volume: The volume during the weekend isn’t very significant. It will be interesting to see how this move continues to the new week.

– Daily chart’s RSI: The RSI had produced a fabulous bullish move, and now facing the 70 RSI resistance level. Stochastic RSI is getting into the oversold territory; however, there is space to go up here.

– BitFinex open short positions: Along with the rising Bitcoin, the short positions continue to rise rapidly: There are now 24.8 K BTC of open short positions, which is the highest level of the past 30 days.

BTC/USD BitStamp 4-Hour Chart

btc_jun16_4h-min

BTC/USD BitStamp 1-Day Chart

btc_jun16_d-min

The post Bitcoin Sets a New 2019 High: BTC Price Analysis & Overview Following The Breakout Of $9,000 – $10K Next Target? appeared first on CryptoPotato.

Source: Crypto Potato

CZ, CEO of Binance: Following The US News, The Team Didn’t Sell Any BNB (Price Analysis Inside)

Binance has gone through some very interesting days after announcing that they will close their doors to all US customers by September 12th, 2019.

The new US trading restrictions had sent shockwaves throughout the crypto markets as US investors scrambled to find out which of their coins had alternative US compliant exchanges to trade from – we’ve taken a look into it, but be warned as it is not very pretty for some of the altcoins.

Amid all the scrambling, CZ, the CEO of Binance, has come forward to make it clear that Binance team has not sold any of their BNB holdings, as the coin dumped yesterday to a low of $29.7 just a day after recording a new all-time high over $26.

 

Binance Coin (BNB) has seen a small price rebound, allowing price action to bounce to where it currently trades at around $33.13.

Despite the recent price drop, Binance Coin is still ranked on the 7th place amongst the top cryptocurrency projects by market cap value, as it currently holds a $4.48 billion market cap. Binance Coin has also seen an extraordinary price explosion, which totals over 100% throughout the past three months.

Looking at the BNB/USD 1-Day Chart:

  • Since our previous BNB analysis, we can see that BNB continued to climb further higher above the resistance at the $34.20 level to reach a high at $36.22. However, the coin was unable to close above this level and proceeded to roll over. Binance has now found support at the $32.41 level after bouncing back from below the $30 mark.
  • From above: The nearest level of resistance now lies at $34 – $34.20. Further higher resistance is then located at $35 and $36.22. If the bulls can continue to push above the $38 resistance level, higher resistance lies at $38.53 and $40.
  • From below: The nearest level of support now lies at $32.41. Beneath this, lower support lies at $31.20, $30.25 and $30. Beneath $30, further support lies at $28.88, $26.60 and $25.18.
  • The trading volume has remained consistently high during June 2019 and has increased above average over the past two days.
  • The RSI has recently held at the 50 level, which shows that the sellers are still not in control of the market momentum.

bnbusd_15jun-min

Looking at the BNB/BTC 1-Day Chart:

  • Against Bitcoin, we can see that BNB was able to overcome the resistance at 0.0042 BTC to reach a high above 0.0045 BTC – however, after reaching this level of resistance, the market rolled over. Support was found at 0.00355 BTC and BNB/BTC has since rebounded higher as it trades at around 0.00385 BTC as of now.
  • From above: The nearest level of resistance lies at 0.004 BTC and 0.0042 BTC. Above this, further higher resistance lies at 0.0044 BTC, 0.004615 BTC, 0.0048 BTC, and 0.004930 BTC.
  • From below: The nearest level of support now lies at 0.003680 BTC, where lies the 100-days EMA. Further support lies at 0.00355 BTC, 0.003420 BTC, 0.003190 BTC, and 0.003 BTC.
  • The trading volume has also remained high during June 2019.
  • The Stochastic RSI had recently produced a bearish crossover signal in overbought territory which resulted in the recent price drop. We will need to wait for the Stochastic RSI to settle and reach oversold conditions before can see a push higher, according to the oscillator.

bnbbts_jun15-min

The post CZ, CEO of Binance: Following The US News, The Team Didn’t Sell Any BNB (Price Analysis Inside) appeared first on CryptoPotato.

Source: Crypto Potato

Bitcoin Loves Weekends: Following an $800 Price Move, The 2019 High Is Closer Than Ever

In crypto like in crypto, things happen quick. Following the recent breakout after the 10-day consolidation period, Bitcoin had skyrocket $800 in less than two days.

In our recent analysis, we had stated that “Stochastic RSI had recently gone through a cross over in the oversold area, which could turn into a bullish move.”

Another thing to note is the bullish momentum during weekends. Like happened in May, June 2019 also proves that weekends are good times for Bitcoin.

As of writing this, Bitcoin marked $8800 resistance as the current high. The coin is now very close to its 2019 high around $9100 and in the case that the weekend momentum will continue, we will likely to see it been retested shortly.

Total Market Cap: $273 Billion

Bitcoin Market Cap: $154.4 Billion

BTC Dominance: 56.5%

Looking at the 1-day & 4-hour charts

– Support/Resistance:
Following the bullish move, Bitcoin had broken up all the mentioned key resistance levels and is now facing $8800. Above the last, lies the 2019 year-high area at $9000 – $9100. Success in breaking up, and the way to $9600 and $10,000 will be very close.

From the bearish side, Bitcoin’s support levels are the resistance turned support areas of $8500, $8400, $8200 – $8250 and $8100 (along with the 4-hour chart’s MA-200 and MA-50).

– Trading Volume: Yesterday’s rise had produced the highest volume candle of the past week, which shows strength. However, the volume isn’t significant as compared to the highest days of the previous 3-months.

– Daily chart’s RSI: On our recent analysis, we’d mentioned that there is “a space to go higher.”, by looking on the RSI. The indicator had broken above 56 and now lies in the bullish territory of 62. For the longer term, Stochastic RSI of the weekly chart had gone through a cross over down but hasn’t entered the bearish territory yet.

– BitFinex open short positions: Along with the rising Bitcoin, the short positions continue to rise: There are now 22.8 K BTC of open short positions, which is the highest level of the past 30 days.

BTC/USD BitStamp 4-Hour Chart

btc_jun15_4h-min

BTC/USD BitStamp 1-Day Chart

btc_jun15_d-min

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Source: Crypto Potato