Monthly Archives: August 2018

Markethive

Why Should We Forgive Others?

Leave a comment

Forgive Others as God Has Forgiven You

 

 

“A man loaned money to two people—500 pieces of silver to one and 50 pieces to the other. But neither of them could repay him, so he kindly forgave them both, canceling their debts. Who do you suppose loved him more after that?” Luke 7:41-42 (NLT)

 

Once Jesus shared a meal with a very judgmental person. He used this story to show that a person who understands their debt and receives forgiveness will have great love for the one who forgives. Being judgmental and unforgiving shows that you have little regard for God’s forgiveness.

Do to Others as You Would Have Them Do to You (Luke 6:31)

Jesus tells a story about a man who loaned money to two people and then cancels both debts. (Luke 7:41-42) One person owed more money than the other, so Jesus asked “Who do you suppose loved him more after that?” Simon answers, “the one who had the bigger debt forgiven,” and Jesus agrees (Luke 7:43).

Jesus said, “a person who is forgiven little shows only little love” (Luke 7:47). That shouldn’t sound like you or me. We should think of ourselves as the first person in the story rather than the second. Our debt is sin instead of money. God is perfect, holy and righteous. Any sin against Him deserves punishment, but He canceled our debt. When it’s time to forgive others, remember the huge debt of sin God canceled for you and forgive.

We All Need Forgiveness

Many people don’t think they need forgiveness. They might think, “My sins are small compared to THAT person. I’ve never committed murder or adultery.” But God has a higher standard. Jesus tells us that even being angry with another makes us guilty of murder, and looking lustfully at someone is equivalent to adultery (Matthew 5:21-22; Matthew 5:28).

This shows we all need forgiveness. The Bible goes on to say, “For everyone has sinned; we all fall short of God’s glorious standard” (Romans 3:23). And, “For the wages of sin is death, but the free gift of God is eternal life through Christ Jesus our Lord” (Romans 6:23).

Forgive Others Because Christ Forgave You (Ephesians 4:32)

Jesus died on the cross and forgave us from a debt we could not repay. Are you grateful for His sacrifice? I know I am. When others hurt you and sin, remember that you and I have hurt a perfect God. Instead of God being angry with us, He forgave us. We should treat others the exact same way.

When we forgive others, it is a small picture of God’s forgiveness. We can even make it an opportunity to share the gospel by saying: “Because God has forgiven my sins through Jesus Christ, I am able to forgive you.

Pray this week:

Lord, please help me to remember the gift of forgiveness you’ve give me when I need to forgive others. Help me to joyfully forgive others just as you have forgiven me.

Is there someone in your life, whether in the past or present that you should forgive?

Alan Zibluk Markethive Founding Member

Markethive

Wall Street Bull Tom Lee: Bitcoin Price Is Beating New Round of FUD

Leave a comment

Wall Street Bull Tom Lee: Bitcoin Price Is Beating New Round of FUD

Wall Street Bull Tom Lee: Bitcoin Price Is Beating New Round 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 by the end of the year.

In a new interview on CNBC, Tom Lee points out that Bitcoin’s price actually climbed after two new rounds of fear, uncertainty and doubt hit the market.

“We’ve had some bad news this week. Two big setbacks, right? The SEC almost universally cancelled nine [ETF] applications, and then China did essentially a re-ban because it sounds like they had to clamp down again on crypto – and Bitcoin’s actually rallied.”

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

Last but not least, Lee breaks out the latest numbers on his company’s proprietary Bitcoin Misery Index, which is designed to gauge just how miserable Bitcoin hodlers are based on price and volatility.

Alan Zibluk Markethive Founding Member

Markethive

SEC WILL REVIEW WEDNESDAY DECISION TO REJECT BTC-ETF PROPOSALS

Leave a comment

SEC WILL REVIEW WEDNESDAY DECISION TO REJECT BTC-ETF PROPOSALS

SEC WILL REVIEW WEDNESDAY DECISION TO REJECT BTC-ETF PROPOSALS

The SEC has decided to review yesterday’s orders denying approval of numerous Bitcoin exchange traded funds.

IS THERE A LIGHT AT THE END 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 be 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, as well as Bitcoins availability on numerous unregulated exchanges. In fact, some have gone as far as 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 approve a Bitcoin-based ETF.

Surprisingly, after making yesterday’s denial announcement ahead of schedule, the SEC has now decided to review these orders, which were originally drafted by 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 Commission review.” and She then followed with an additional tweet explaining the previous one in plain English.

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

In the past, Commissioner Peirce has voiced her dissenting opinion regarding SEC’s denial 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 avoid it. The Commission’s action today deprives investors of this choice. I reject the role of gatekeeper of innovation –a role very different from (and, indeed, inconsistent with) our mission of protecting investors, fostering capital formation and facilitating fair, orderly and efficient markets.

Commissioner Peirce also provided a copy of a letter addressed to the NYSE, which explains that SEC Chairman Jay Clayton and associated commissioners will carefully review each application to identify whether or not SEC staff ruled fairly. While the letter does not provide a date for sharing this review decision, it is nonetheless exciting for those who follow cryptocurrencies.

 

EUSTACE CRYPTUS | AUG 24, 2018 | 00:00

Alan Zibluk Markethive Founding Member

Markethive

Forgiving Others in the Church

Leave a comment

How can I forgive someone who keeps hurting me?

Written by Ruth on 21/08/2018
Series: Weekly Devotional
Tags: Church, Church And Community, Forgiveness, Reconciliation
Be kind to one another, tenderhearted, forgiving one another, as God in Christ forgave you.

Ephesians 4:32
Is this true for you? – someone at the church you attend bothers you so much that sometimes you would just rather stay home from church! 

Does an “enemy” keep you away from church?
The day before He died, Jesus told His disciples that the most important command He was giving them was to love each other (John 15:12-17). During the whole final evening with them, He was preparing them for life after His death, resurrection, and ascension to Heaven (John 13-17). He had kept them together as His disciples for the past three years, and now they needed to know how they could remain together even though they would be spread to different parts of the world. Jesus’ answer was love for one another, which would unite them.

We also need help in loving each other, even when there are disagreements among us in the church. The disciples had missed Jesus’ point so often, argued with one another and hoped to gain advantage over one another. (Luke 22:24-30). Without Him walking with them, would selfishness and bitterness divide them? Not if they listened to what He said. He told His disciples they must always forgive each other, and this is what we, too, must do. We must not allow anger and bitterness to grow. When that happens, we become ineffective witnesses for Him.

How am I to forgive another Christian who hurts me?
Jesus was committing His disciples to one another as an eternal family. This means a few things:

First, it's pretty much impossible to avoid offending others in this life, so we should not pretend we're never offensive. Siblings don't always get along. But they never stop being family. What does it take to maintain peace? You have to go to someone who feels wronged—even if you don't know what you did wrong. Jesus even gave this priority over our worship in Matthew 5:23-24.

Second, because we know we've done things that give others reason to be offended, forgive others. They may not even know what they did wrong. Go to them. Be persistent and patient. (Matthew 18:15-22) Jesus never runs out of forgiveness for us; we have to be the same way.

Why should I forgive, even when they are not sorry?
One of my dear friends was the victim of a conspiracy in her family. Divorced and raising two children on her own had made life a struggle, but then her father and younger sister agreed to bypass her in the inheritance of some family property. It caused her to curse and forsake her family for years. She even emigrated to another country in order to make an irreversible break in her family relationships. 

But then, something happened to change her mind. She found Jesus. It was a few years before she reconciled with her family. They didn't recompense her for the lost property or years of hard work. But when God changed her life, He gave her first the desire, then later, the actual power, to forgive. Looking back, she now sees clearly how unforgiveness is really what hurt her and cost her the most. It really wasn't until she released her hold on it that she herself was free.

When Jesus said in Matthew 6:14-15 that we cannot be forgiven if we do not forgive others, He was telling us two things: 1) not forgiving someone is disobedience to Him, and 2) we cannot see our own need for forgiveness if we keep anger and bitterness in our hearts. In essence, forgiving someone is more about our relationship with Jesus than with that person. 

How do we forgive when we do not feel like doing so? Forgiveness is a choice, not a feeling. We must choose to obey. It may be that we must say to Jesus, “I do not want to forgive because that makes what they did right, and it was not right! But I want to be near You more than I want to keep this anger, so I choose to forgive. Help me, Lord Jesus!” Then, the next time you remember what they did or you see them at church or anywhere else, you can simply say to Jesus, “I have given this to You, I will not take it back.” It will not be long before you realize you are free from the slavery of what this person did. You are free from anger and bitterness. You are free to do or say whatever Jesus asks you to say to them with peace in your heart (Philippians 4:7, and Luke 12:11-12).

Pray this week:
Lord Jesus, I have trouble forgiving ___ in my church. I choose to obey You because I need Your peace more than I need proof of being right or even worldly justice. I give this situation into Your hands; help me to leave it with You. Help me also to speak Your words to them so we may be reconciled to each other for the work of Your kingdom.
 

Who do you need to forgive and reconcile with?

Alan Zibluk Markethive Founding Member

Markethive

After Bitcoin Price Breakout Pending ETF Decision May Cap Gains

Leave a comment

After Bitcoin Price Breakout, Pending ETF Decision May Cap Gains

After Bitcoin Price Breakout, Pending ETF Decision May Cap Gains

Bitcoin's (BTC) jump to a 15-day high is encouraging, but caution ahead of the US Securities Exchange Commission's (SEC) imminent decision on a bitcoin exchange-traded fund (ETF) could limit further price gains.

The leading cryptocurrency rose to $6,899 on Bitfinex earlier today – the highest level since Aug. 7 – and is accompanied by a 10 percent drop in the BTC/USD shorts, adding credence to our assessment 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 break of the narrowing price range and signals continuation of the rally from the Aug. 14 low of $5,859.

So, it seems safe to say the doors have been opened for the psychological hurdle of $7,000. However, that may be an uphill task in the short term, as investors are likely to adopt a cautious stance ahead of the SEC's ruling on whether to allow the ETF – due in the next 36 hours.

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

At press time, BTC is changing hands at $6,670 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 will likely crater if the SEC rejects the ETF or delays the decision.

4-hour chart

The upside break of the diamond pattern seen in the chart above confirms a bearish-to-bullish trend change, that is, the sell-off from the July high of $8,507 has ended and the bulls have regained control.

The relative strength index (RSI) is holding above 50.00 in favor of the bulls. Meanwhile, the 50-candle moving average (MA) is beginning to rise in a bull-friendly manner and could soon cut the 100-candle MA from below (bull cross).

Daily chart

BTC's rise to $6,899 validates the bullish crossover between the 5-day and 10-day moving averages (MAs) and the upward sloping RSI.

Although it appears the charts are aligned in favor of the bulls, BTC has already retraced close to 50 percent of the gains seen today, possibly validating the skepticism around today's rally.

What's more, the retreat to $6,670 also 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 $5,859).

 

View

  • BTC's bullish breakout has proved to be lacking in staying power. That said, acceptance above $6,870 (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 drop below $6,000 (February low).

The SEC's decision on the bitcoin ETF could send prices either way, but until then the market will likely trade on a cautious note.

 

Omkar Godbole

Updated Aug 22, 2018 at 11:28 UTC

Alan Zibluk Markethive Founding Member

Markethive

Bitcoin price analysis – Blasts through 6800 critical resistance jumps 4 on a daily basis

Leave a comment

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

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

 

  • Bitcoin bounces sharply to trade intraday highs of $6,875.10 but 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 test $6,900.

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

The cryptocurrency not only reentered the broken rising wedge support at the 50% Fib retracement level with the last swing high of $7,148.96 to a swing low of $5,914.15, it broke out of the resistance at $6,632.31. 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 $6,743 after subtle corrections from the resistance.

Bitcoin is likely to settle in a bullish flag pattern supported by the 61.8% 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 chart is retracting from the oversold to show 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 control.

A support above $6,700 is vital to the buyers who at the moment, have their eyes set on retesting $6,800 and $6,900 in the near-term. It is apparent now that $7,000 is within reach for Bitcoin in the Month of August in spite of the slight dip below $6,000.

 

 

John Isige

FX Street

 

Alan Zibluk Markethive Founding Member

Markethive

Founders Positions STILL Available- with this U are SET FOR LIFE This is TOTALLY PASSIVE INCOME

Leave a comment

Hello Teammates

Thank you again for joining The Stellar Association / Yiggiy with me. It just keeps getting more and more exciting as launch day draws closer. If you haven’t been following what is going on, you might want to listen to the members-only call we had Saturday the 18th. I know I had to talk some of you into joining, but I hope you see the Big Picture now ––> those of us who have Founders Positions with this are SET FOR LIFE. This is TOTALLY PASSIVE INCOME, which you will receive every month forever. It comes from the royalties earned on the intellectual property this business owns, just like someone who writes a book gets a royalty on every copy that is sold ….. You know how that works. Same thing.

 Members Only Recorded Call Link for Saturday August 18th 2018   https://stme.in/mff95gslbO

They announced on that call that sales of the Founders Positions for the Second group will be stopped next Saturday, the 25th, at 3 PM EST. If there is enough demand, they will consider opening a Third batch of positions, but there is no guarantee of that, and it is looking very unlikely at this point.   http://www.theassociation.website/index.html?Ref=RBM24-FE53P

So if you want to take any more positions perhaps to give to your children or grandchildren (they can be millionaires by the time they are ready for college), your Church, your favorite charities, etc — or tell any of your friends about this — please do it before Saturday. If you have one position, you’ll get one royalty share each month –– but if you have two positions you’ll get twice as much money every month –– and if you have five or ten, you’ll get five or ten times as much money every month. This is the biggest bargain ever –– for only a one-time $120 USD you will make millions over time. (Please listen to the call for some really great news. They project that we will start getting $6,300 per position within 5-6 months, and each month will pay more than the month before, as the business expands globally and more people join.)

BECOME A FOUNDER : NEW GAMING PROJECT

http://www.theassociation.website/index.html?Ref=RBM24-FE53P  

(PayPal is the easiest, and you can use your debit or credit card there too.) When you start getting your totally passive monthly payments, I know you’ll wish you were getting twice as much money, or five times as much money — the only way to make that happen is to take more positions NOW, before they stop sales  Saturday. Once the positions are all gone, they are gone forever, and you will lose the opportunity to get more.

To keep up with all the news, please join us on Facebook https://www.facebook.com/yiggiytournaments , or join our Skype chatroom  https://join.skype.com/c0G5PdBkmjBs.

I sincerely hope you understand the potential of this huge global business — I hope you get excited when you listen to the recording of this week’s members-only call. We should all be able to retire next year with this — well, of course it depends on how many positions you have, how much money in royalties you will get every month going forward. How much do you want for your retirement? http://http://www.theassociation.website/index.html?Ref=RBM24-FE53P

It’s always FREE to play, but you can win real cash and prizes for yourself and your favorite charity. Check out the games here  http:// https://yiggiy.com/?Ref=RBM24-FE53P 

If you can swing it to take another position or two, you’ll really be thanking yourself when they start paying this fall. Just think how much more you can do with two or three or five times as much totally passive income. This will probably be the last time I contact you about this, although I may send it out again to be sure you got it. You only have until Saturday the 25th at 3 PM EST to decide how much future passive income you want to receive, how much income you want to retire with, and lock it in.

If you are reading this and you have not registered with us yet you can do so by going here to signup  http://www.theassociation.website/index.html?Ref=RBM24-FE53P

Play free POKER games every night and earn money FREE!!   http://https://yiggiy.com/?Ref=RBM24-FE53P …

Yiggiy weekend games are going on! PLAY BLACKJACK TONIGHT FOR FREE AND EARN. Come and play tonight! Get yourself registered and invite friends to come and play! Come win Cash and Big Prizes. Yiggiy games are always FREE and always FUN  https://yiggiy.com/?Ref=RBM24-FE53P

 

All Yiggiy Tournaments are FREE to play. There is absolutely NO GAMBLING at Yiggiy.

 

Alan Zibluk Markethive Founding Member

Markethive

Bitcoin BTC Price Watch – More Bears Waiting to Hop On

Leave a comment

Bitcoin (BTC) Price Watch - More Bears Waiting to Hop On

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

 

Bitcoin Price Key Highlights

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

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

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

Bitcoin price made a downside break from its triangle pattern and looks ready for a pullback before heading further down.

 

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, there’s still a chance for the uptrend to resume and price to move back inside the triangle pattern.

However, the 200 SMA lines up with the 38.2% Fib at $6,360.50 to add to its strength as resistance and the 100 SMA coincides with the 61.8% Fib at $6,436.90. This is also near the broken triangle support, which might hold as 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 take a break. Stochastic is also heading up to indicate a return in bullish momentum.

 

Market Factors

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

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

 

 

SARAH JENN | AUGUST 21, 2018 | 4:19 AM

Alan Zibluk Markethive Founding Member

Markethive

Serving the Body

Leave a comment

How can we use our spiritual gifts to serve the Church?

Written by Ruth on 24/10/2017
Series: Weekly Devotional
Tags: Church And Community
And let us consider how to stir up one another to love and good works, not neglecting to meet together, as is the habit of some, but encouraging one another, and all the more as you see the Day drawing near.

Hebrews 10:24-25
Have you ever wondered why you should be part of a church? The Bible says in Hebrews 10:24-25 that gathering with other believers is something we should not neglect.

What is so important about church?
Jesus wants us, as a member of a local church, to complete the ministry He began while He was on earth. He wants you to be part of this ministry. But none of us can do this on our own. We need Him as our leader (our Head), and all the rest of the body (other believers) to get the mission accomplished as He has planned. None of us can do it alone, but all our abilities together are used by Him for His purpose. Here’s how you can be a healthy part of the body:

Encouraging each other
First, church is meant for mutual encouragement. In Hebrews 10:23 we read God’s desire for us to “hold fast to the confession of our hope without wavering.” None of us can do that by ourselves because our enemy, Satan, attacks us more when we are alone. Our responsibility to other believers is to encourage them to keep following Jesus closely.

Completing what he began
Second, Jesus left us a task to do. Just before He returned to heaven after His resurrection, He said we were to “go and make disciples of all nations” (Matthew 28:20). He says He is “not wishing that any should perish” (2 Peter 3:9), but no one can know Him unless someone tells them.

In John 14:12, Jesus also said that the Church would do “greater works” than He had done while He was here. None of us who follow Him can accomplish this in our own strength. We, the Church, are called His body and are left on earth now so He can do in the whole world what He did in one region while He was here.

For this reason Jesus gives gifts (called spiritual gifts in the Bible) to each person in the church to help with this task. We read the lists of spiritual gifts in passages such as Ephesians 4:11-12. Alone, we cannot complete all the duties Jesus wants to do, but together we can. Jesus’ body, the Church has different parts just as a body has – ears, nose, mouth, hands, feet, and so on – and each part is important to completing the task. Each of us, with the spiritual gifts He has given us, have our own work to do.

Strength in unity
Third, we as believers must work together. We cannot work as a body if we are not in agreement with each other. The Bible calls this “unity of the Spirit” (Ephesians 4:1-6). Hands cannot help a person in need if the feet will not take them to that person. The heart cannot love someone if the ears have not heard the one who needs encouragement. The arms cannot lift a heavy burden for another if the legs and back do not help with balance and strength.

Jesus gave His disciples, including us today, a wonderful promise in Matthew 16:18 – that the very gates of hell cannot stop what He wants to accomplish. Gates are not attack weapons, but instead used to keep someone out or in. The gates of hell are pictured because Satan wants to keep people from hearing Jesus’ words of hope and follow Him. However, his gates cannot stop us from entering his strongholds to tell them.

There will be times, however, as we enter those gates to invite people to follow us to Jesus, that we will be injured by Satan’s attacks. In those times, the Church – the body of Christ – rushes to help the injured one. We bind the wounds, encourage the disheartened and give strength to those who have suffered in the attacks.

Discovering your spiritual gifts
Finally, every believer is given at least one spiritual gift with which they serve Jesus’ body in a local church. It is our duty to use each gift we are given to help the local body in the church we attend. (1 Peter 4:10)

How do we discover our spiritual gifts? A few will hear God’s call to become pastors. Others will be asked to do something and discover joy in fulfilling that task. Many will try different things to find what gives them the greatest satisfaction as they serve Jesus in their church – encouraging others, giving someone a verse of wisdom when someone is searching for answers, visiting the sick and praying with them, helping a disabled person by taking them to the grocery store and carrying their bags home, or even greeting a foreigner with a word of welcome in their own language. In doing this, you will be serving the body while also finding how God has crafted you best to serve.

Pray this week:
Father, as my love for you grows, teach me also to love my church and use the way you’ve prepared me to bless and build others within it.

What do you do in church that helps others?

Alan Zibluk Markethive Founding Member

Markethive

Bitcoin BTC Price Watch – Waiting for a Triangle Breakout

Leave a comment

Bitcoin (BTC) Price Watch - Waiting for a Triangle Breakout

Bitcoin (BTC) Price Watch – Waiting for a Triangle Breakout

Bitcoin Price Key Highlights

  • Bitcoin price has formed higher lows and found resistance around $6,500 to create an ascending triangle pattern on its 1-hour chart.

  • Price is currently testing the resistance and is nearing the peak of the formation, so a breakout might be due soon.

  • Technical indicators are giving mixed signals on which direction the breakout might take.

Bitcoin price is consolidating inside an ascending triangle pattern and might be due for a breakout in either direction soon.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This suggests that an upside break is more likely to occur than a break lower. Also, the moving averages are near the triangle bottom to add to its strength as a floor around $6,400.

RSI is heading lower to signal that selling pressure is in play and that resistance would likely hold for now. Stochastic is also in the overbought region and turning lower suggests a pickup in bearish momentum. The chart pattern is around $600 in height so the resulting rally or selloff after a breakout could be of the same size.

 

Market Factors

Bulls continue to defend long-term support levels for bitcoin, so there’s a strong chance that the floor won’t be giving way anytime soon. Buyers now have another attempt to spur a larger rebound, possibly one that could last longer on a break of nearby resistance levels.

The anticipation for the SEC decision on the bitcoin ETF applications put on hold is building up as the end of the month nears and September approaches. However, a denial could still lead to another round of losses for bitcoin and its peers while approval might see sustained gains.

Other factors pushing bitcoin around include trade-related updates and potential contagion coming from Turkey, so price could stay sensitive to headlines from here.

 

SARAH JENN | AUGUST 20, 2018 | 4:38 AM

Alan Zibluk Markethive Founding Member