Bitcoin Bulls Need to Make a Move or Pay a Heavy Price

Bitcoin – Bulls Need to Make a Move or Pay a Heavy Price

Bitcoin – Bulls Need to Make a Move or Pay a Heavy Price

Bitcoin holds on to positive territory in the early hours, though will need to break back through to $7,400 levels to avoid a bearish move.

Bitcoin gained 1.23% on Tuesday, reversing Monday’s 0.47% decline, to end the day at $7,357.2.

Recovering from an early morning intraday low $7,246.2. Steering clear of the day’s first major support level at $7,187.47, Bitcoin rallied through late morning and early afternoon to an intraday high $7,415.4.

The rally through to the day high saw Bitcoin break through the day’s first major resistance level at $7,356.47 and back through the 38.2% FIB Retracement Level of $7,376 to hit $7,400 levels for the 2nd time in 3-days, prior to which was back in the 1st week of August.

In spite of the breakout from the 38.2% FIB Retracement Level of $7,376, Bitcoin failed to hold on to $7,400 levels with a late in the day broad based market sell-off seeing Bitcoin’s gains for the day reduced, with Bitcoin pulling back through the 38.2% FIB Retracement Level by the day’s end.

With selling pressure evident at the 38.2% FIB Retracement Level, Bitcoin’s failure to hold above $7,376 by the day’s end reaffirmed the extended bearish trend formed at early May’s swing hi $9,999, with a break out from $7,376 needed to support the formation of a bearish trend reversal.

The gains came with the news wires on the friendlier side at the start of the week, with regulator chatter on hold, allowing the Bitcoin bulls to talk up the prospects of a return to bullish form and a run at $20,000 levels by the year-end.

At the time of writing, Bitcoin was up just 0.07% to $7,363.9, with moves through the early morning seeing Bitcoin recover from a start of a day morning low $7,357.2 to a morning high $7,398.7 before easing back, the early moves leaving the day’s major support and resistance levels untested, while resistance at $7,400 proved to be too great in the early hours.

For the day ahead, moving back through the 38.2% FIB Retracement Level of $7,376 would support another run at $7,400 levels to bring the day’s first major resistance level at $7,433 into play, with market sentiment to dictate whether Bitcoin can take a run at $7,500 levels, investors continuing to be on the more cautious side in spite of Bitcoin’s recent weekly gains and hold on to $7,300 levels.

Failure to move back through the 38.2% FIB Retracement Level of $7,376 could see Bitcoin hit reverse, with any fall through 7,340 bringing sub-$7,300 levels and the day’s first major support level at $7,263.8 into play before any recovery.

We would expect Bitcoin to steer clear of sub-$7,300 levels should the news wires remain crypto friendly, with Bitcoin’s relatively minor gains through the early part of the week likely to limit profit taking in the middle part of the week, though investors will wary of what’s to come on the regulatory front, which continues to pin Bitcoin back from $8,000 levels and beyond.

 

Bob Mason

19 minutes ago

Alan Zibluk Markethive Founding Member

Bitcoin BTC Price Watch- Nearby Inflection Points to Watch

Bitcoin (BTC) Price Watch- Nearby Inflection Points to Watch

Bitcoin (BTC) Price Watch- Nearby Inflection Points to Watch

Bitcoin Price Key Highlights

  • Bitcoin price continues to crawl higher and is moving closer to completing its double bottom.

  • Once completed, price would need to break past the neckline at $8,400 to confirm a long-term uptrend.

  • Corrections from the climb could find support at the short-term rising trend line that held since last month.

Bitcoin price is slowly moving up to form a double bottom reversal pattern, and a neckline break could lead to more gains.
 

Technical Indicators Signals
 

The 100 SMA is also completing its bullish crossover from the 200 SMA to indicate that the path of least resistance is to the upside. This would mean that the rally is more likely to resume than to reverse. Price is also moving above a rising trend line connecting the lows since mid-August and the moving averages could serve as dynamic support close to this area.

However, RSI is pointing down after recently reaching overbought territory, which means that selling pressure might still return. Similarly stochastic is on the move down so bitcoin price could follow suit while bearish pressure is in play.

Market Factors

In the absence of any major updates lately, bitcoin appears to be taking its cues from the improving sentiment in the industry. More and more analysts are renewing their bullish calls, with one group even predicting that it could reach $33,000 in 2019.

Furthermore, Satis ICO Advisory Research projects that bitcoin price could surge to $96,000 over the next five years then to $143,900 in 10 years. The firm is also bullish on Monero, predicting it will reach $18,000 over the next five years.

On the flip side, it is less optimistic about ethereum and litecoin while being bearish on Ripple, Bitcoin Cash, EOS. The report also wasn’t optimistic on utility tokens either, and this “weeding out” sentiment appears to be more favorable to bitcoin.

 

SARAH JENN | SEPTEMBER 4, 2018 | 4:19 AM

Alan Zibluk Markethive Founding Member

Bitcoin BTC Price Watch – Don’t Miss This Bullish Pullback

 

Bitcoin (BTC) Price Watch – Don’t Miss This Bullish Pullback

Bitcoin Price Key Highlights

  • Bitcoin price is trending higher inside an ascending channel on the 4-hour chart and is testing the top.

  • A pullback to support might be due from here, so as to gather more bullish energy on the climb.

  • The uptrend is likely to resume since the 100 SMA is completing a crossover above the 200 SMA.

Bitcoin price hit resistance at the top of the channel but might be ready to resume the climb on a test of support.

 

Technical Indicators Signals

The 100 SMA is crossing above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. This suggests that the uptrend is more likely to resume than to reverse or that support is more likely to hold than to break.

However, RSI is pointing down to indicate that sellers are trying to regain control from here while buyers take a break. Similarly stochastic is moving south so bitcoin price might follow suit while bearish pressure is in play.

Price could bounce upon hitting support at the Fib levels or the channel bottom, which lines up with the 61.8% level in particular. This also coincides with a former resistance around $7,000, which might also hold as an area of interest.

A larger pullback could last until the swing low just above the moving averages, which might be the line in the sand for any bullish correction.

BTCUSD Chart from TradingView

Bitcoin price does seem to remain support, especially after landing back above the $7,000 major psychological mark that many are watching. Optimism for approval by the SEC in bitcoin ETF applications appears to be keeping bulls present for fear of missing out on a big rally.

Apart from that, many analysts are renewing their bullish calls on this particular cryptocurrency, with Tom Lee even citing that the launch of ethereum futures might wind up positive for bitcoin.

 

Sarah Jenn – NewsBTC – 1 hour ago

Alan Zibluk Markethive Founding Member

Nagricoin public sale is over

Dear members of NagriCoin community! We are happy to announce that our public sale has successfully come to an end. We have reached the soft cap and solidified many important agreements, which will certainly help the growth of Nagri.

We appreciate everyone who supported this project and inspired us to develop products to improve organic farming. Your contribution to Nagri is a step toward a better world.

Nothing would be possible without your support, and nothing motivates more than your trust. Thank you again, organic farming will no longer be pushed to the background, it will be the standard at the forefront of agricultural innovation.
We will continue to update our community on project developments, exchange listings, new distribution partnerships, hiring opportunities, and much more. We will announce our central exchange listings once each investor has passed KYC and AML standards for our exchange partner. We have an agreement in place and plan to be listed by the beginning of October, barring any delays in the investor verification. We are finishing the registration for several decentralized exchanges and should have those available much sooner.

We are excited to provide this opportunity to our supporters. We are also continuing the private sale of tokens and other offers for institutional investors. We have some new investors we are working with and should announce any new private deals soon.

Thank you one last time and we look forward to bringing the world better farming by design and being a champion for organic agriculture because of your support.

Alan Zibluk Markethive Founding Member

Facing Sexual Temptation

Everyone—from presidents to preachers—is subject to sexual temptation.

Tags: Sex, Sin, Temptation
Adultery. It’s a common word and a common occurrence in our society.

But adultery’s stain goes deeper than the individual. More dishonor has come to the name of Jesus Christ by sexual sin than any other sin.

You Will be Tempted.
C.S. Lewis, in The Screwtape Letters, said, "No man knows how bad he is until he has tried to be good. There is a silly idea that good people don’t know what temptation means."

We must learn from the Lord to enjoy full mastery over sex, His marvelous gift. "For God did not give us the spirit of timidity," Paul reminds us, "but the spirit of power and love and self-control."

Proverbs 4:23 exhorts, "Above all else, guard your heart, for out of it flow the springs of life." How can we do that?

Monitor your fantasizing and daydreaming when your mind is idle. Refuse pornography, whether written or in movies or videos.

You can talk yourself into sexual sin. It happened to a friend of mine. He had won thousands to Christ during 25 years. Suddenly he left his wife and became hard and rebellious, even pretending to return to evangelism. I found out that for years he had secretly watched pornographic films, yet preached heavily against immorality. Eventually, like a serpent, it bit him. It has happened to better people than you and me.

Firmly implant in your soul God’s principles established for our protection.
Believe them, accept them, reaffirm them. Study Malachi 2:13-16 and 1 Thessalonians 4:1-8, and make Joseph in Genesis 39 a model. He faced, resisted and triumphantly ran from temptation. But be ready! As my mentor, Ray Stedman, said, "Woe to the man who has to learn principles at a time of crisis!"

The Word of God, as our meat and drink, keeps the inner man and woman strong and sensitive on a continuing basis. "Your Word I have hid in my heart, that I might not sin against you" (Psalm 119:11).

Resisting temptation by quoting scripture still is a mighty tool.

One preacher I know allowed himself to become enchanted by an attractive, sensuous convert who had made advances shortly before he led her to Christ. He resisted and she had converted.

Three years later, he saw her again. He drew close to offer an "innocent" kiss nothing more, he tells us when the young woman started quoting, "No temptation has overtaken you that is not common to man. God is faithful, and he will not let you be tempted beyond your strength, but with the temptation will also provide the way of escape, that you may be able to endure it" (1 Corinthians 10:13). He left in a hurry!

God will remove His hand from your service to Him if you allow lust to lead you to actual sexual immorality. Samson lost his power. "He did not know that the Lord had left him" (Judges 16:20). So many friends started out well—winsome, friendly, authoritative. Where are they now? I can think of half a dozen on the sidelines because of money, sex, or pride. Useless, lonely, fruitless, bitter.

Beware:
Failure does not occur suddenly, overnight, in one blast of a careless moment or the explosion of uncontrolled passion. Dr. George Sweeting of Moody Bible Institute said, "Collapse in Christian life is rarely a blowout. It’s usually a slow leak." When a man takes that fatal step, it has been gestating in his soul for months, perhaps years. Toying, daydreaming. One step at a time, the sensitivity level lowers. Then, the unthinkable occurs.

Have you stumbled in this sensitive area of your life? Confess, make amends, clear yourself with the proper people. Where are you in your walk with God? If you must get reconciled to Him, do it now! "He who comes to me, I will in no way cast out," the Lord has said.

Sexual holiness demands we not play games in flirting, body language, and clothing. In the cases of fallen men I know, they first failed in precisely those areas. Keep friends accountable before drastic failure, discipline, and sadness happen.

What Bible verse helps you the most when faced with sexual temptation? Do you have an accountability partner? For additional help in this area, send a message by clicking the below, and ask your Onine Missionary to send you the "Sexual Purity" Bible studies.

Alan Zibluk Markethive Founding Member

Why Should We Run from Sexual Sin?

The proper place for sex is between a husband and wife. Outside of that relationship, sex is destructive to you and to others, just like an out of control fire.

Written by Dan Lee on 22/02/2015
Series: Weekly Devotional
Tags: Love, Lust, Marriage, Pleasure, Relationship, Sex, Sin, Temptation
“Flee from sexual immorality. Every other sin a person commits is outside the body, but the sexually immoral person sins against his own body. Or do you not know that your body is a temple of the Holy Spirit within you, whom you have from God? You are not your own, for you were bought with a price. So glorify God in your body.” 1 Corinthians 6:18-20

A fire provides warmth, light and comfort. But if a fire gets out of control, it can destroy your home, your possessions and even your life. Sex is a lot like that. The proper place for sex is between a husband and wife. Outside of that relationship, sex is destructive to you and to others, just like an out of control fire. Here are 3 important reasons to avoid sexual sin.

1. Sex Affects Our Body, Mind and Spirit
God created us with a body, a mind and a spirit. These parts of us are completely woven together. When we use our bodies to do things outside of God’s will, we not only impact our body, but our mind and soul as well.

2. It Offends God
God wants us to avoid sexual sin. 1 Thessalonians 4:3 says “God’s will is for you to be holy, so stay away from all sexual sin.” When you came to know Christ, His Spirit came to live in you. When we sin sexually, we are, in a way, “taking Him along for the ride” – to a place He tells us not to go. After King David confessed his sexual sin, he addressed God, saying “Against you, you only, have I sinned, and done what is evil in your sight” (Psalm 51:4).

3. It Hurts Others
Jesus said, “If you cause one of these little ones who trusts in me to fall into sin, it would be better for you to have a large millstone tied around your neck and be drowned in the depths of the sea” (Matthew 18:6) The Lord uses very strong language here, because our responsibility as His followers is to teach others godly behavior that glorifies Him. Leading another believer into sin is the exact opposite of what we should do.

When we are tempted to lead someone we believe we love into sin, we have to question if the feelings we have for that person are really love. After all, God reveals to us that love is patient, not selfish, and that it does not take pleasure in evil. Instead, love waits patiently with the best of intentions toward the other person. (1 Corinthians 13:5-7, Ephesians 5:25-28)

How do we leave sexual sin?
God always gives us hope and a way out (1 Corinthians 10:13). Whatever you have done, know that God is always ready to forgive (1 John 1:9). Are you ready to accept Jesus and leave sexual sin? Click here to start a new life with Jesus.

Pray this week:
Lord, thank you for reminding me that because you have bought me with a price, that I am not my own. Help me through the power of your Holy Spirit to glorify you with my body and in every aspect of my life. Give me the courage to seek the help I need.

What reason is most effective in helping you avoid sexual sin – affects your body, mind, spirit; offends God; hurts others? Talking to someone is vital in overcoming this area of sin; don't wait to get help.

Alan Zibluk Markethive Founding Member

Bitcoin At 7000 Undervalued Or Overvalued

Bitcoin At $7000, Undervalued Or Overvalued

Bitcoin At $7000, Undervalued Or Overvalued?

At $7,000, Bitcoin can be both undervalued or overvalued, depending on how the “intrinsic” value of the digital currency is calculated.

After testing the $6000-mark for a while, Bitcoin has staged a big comeback lately. In the last seven days, the digital currency has rallied 6.15%, trading close to the $7,000-mark. Other cryptocurrencies have rallied in sympathy—see table 1 and Table 2.

Table 1

Coin %7d

Bitcoin (BTC) 6.15%

Ethereum (ETH) 1.35

XRP 3.22

*As of 8/31/2018, at 4pm.

Source: Coinmarketcap.com

 

Table 2

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks Over The Last Seven Days

Cryptocurrencies Advance/Decline Number

Advance 84

Decline 16

*As of 8/31/2018, at 4pm.

Source: Coinmarketcap.com

The rally in cryptocurrencies have some experts cheering. One of them is Global Blockchain CEO, Shidan Gouran, who sees a 'hard value' at$6000. “What this means for the present is that motion is already happening. Because it costs about $6,000 to mine a Bitcoin, it couldn’t go too much lower than that. If no one sees any value in it, it will naturally only command its ‘hard value’ price of about that much. But as we can see, people clearly do see value in it. For example, the efforts to legalize a Bitcoin ETF are persisting. Further, story after story is hitting the news about big-name institutions taking steps to trade Bitcoin. While the idea of these big-time uses of Bitcoin were nothing more than a fantasy about a year ago, the signs are actually starting to emerge that it’s going to happen. So undoubtedly, this is stimulating demand to some degree.”

Clement Thibault, Senior Analyst at Investing.com, doesn’t share Gouran’s enthusiasm. "$7,000 is a level we've seen before so I don't regard it as a particularly noteworthy milestone,” says Thibault. “Psychologically, there might be something to it for speculators but the price is completely disconnected from any meaningful fundamentals. If the level was the result of an event, development, or adoption, that would be something more substantial — but at this point, we're trying to invent a narrative to explain the price action when there's nothing to explain."

What do econometric models say? My co-author of an academic paper on Bitcoin valuation, Greg Giordano, ran three econometric models — the Haye’smodel, the Wheatley model, and the Market Model (our own)—see table 3.

On the one side, the Hayes’ model and the Market Model estimate the Bitcoin’s intrinsic value to be $8,778.11 and $8,335.54 respectively. This means that at the current price level the digital currency is undervalued.

On the other side, Wheatley’s Model estimates Bitcoin’s value to be $1,080.58. This means that at the current price the digital currency is overvalued.

 

Table 3

Three Estimates Of Bitcoin’s Intrinsic Price*

Econometric Model Price Estimate

Hayes $8,778.11

Wheatley $1,080.58

Market Model $8,335.54

 

 

Panos Mourdoukoutas

Contributor

 

Alan Zibluk Markethive Founding Member