Bitcoin Price Analysis – One More Triangle Bottom

Bitcoin  Price Analysis -  One More Triangle Bottom

Bitcoin Price Analysis – One More Triangle Bottom

Bitcoin broke below a previous triangle consolidation but may be finding support at a larger one.

Bitcoin made a triangle breakdown earlier on but seems to be finding some support at a larger triangle bottom. Price bounced off the $3,800 area but is making another test and might be attempting another break.

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, support is more likely to break than to hold. In that case, bitcoin could slide by the same height as this chart formation, which spans $3,500 to $4,600.

RSI is still heading lower to reflect the presence of bearish pressure. However, the oscillator is nearing the oversold region to reflect exhaustion. Turning higher could confirm that buyers are ready to return and might push for a move back to the triangle top at $4,100. Similarly stochastic is dipping into the oversold region but has yet to turn higher to signal a return in bullish pressure.

More and more mainstream coverage on the recent slump in bitcoin and other cryptocurrencies is piling on the FUD that’s currently weighing on prices. Although the improvement in sentiment last week from revived expectations on institutional investment propped bitcoin higher, it seems that traders are hoping to get actual developments before sustaining any rallies.

Still, a lot of analysts are holding on to their bullish bets and this may be why bulls continue to defend nearby support levels. Some expect bitcoin to make a strong rebound before the end of 2019 while some believe that it could take place as early as Q1 2019.

According to a recently published A.T. Kearney report:

“By the end of 2019, Bitcoin will reclaim nearly two-thirds of the crypto-market capitalization as altcoins lose their luster because of growing risk aversion among cryptocurrency investors. More broadly financial regulators will soften their stance towards the sector.”

 

Author Rachel Lee December 5, 2018

 

Alan Zibluk Markethive Founding Member

Bitcoin Price Analysis – BTCUSD Another Day Another Breakdown

Bitcoin Price Analysis - BTC/USD Another Day, Another Breakdown

Bitcoin Price Analysis – BTC/USD Another Day, Another Breakdown

Bitcoin previously consolidated inside a symmetrical triangle to pause from its selloff, but it looks like bears are still in control. Price broke below the triangle bottom at $4,000 major psychological level to signal that another slide is in the works.

The 100 SMA is starting to cross below the longer-term 200 SMA as additional confirmation of bearish pressure. However, RSI seems ready to climb out of the oversold region to indicate that buyers might take over while sellers take a break. Similarly stochastic is moving north so bitcoin could follow suit.

Bitcoin is also trending inside a small descending channel and is bouncing off the bottom. A pull back to the top might be due before sellers return again. This lines up with the broken triangle support that might now hold as resistance and also the moving averages dynamic inflection points.

Bitcoin has given way to FUD once more as last week’s updates didn’t seem enough to sustain any recoveries. As it is, more and more media outlets continue to cover the bloodbath and are likely convincing more holders to liquidate. Recall that revived focus on institutional investments allowed bitcoin to pause from its sell off and many hoped that it could be followed by an even larger bounce.

Traders might have been able to digest the latest SEC commentary on how the lack of consumer protection measures in the crypto market means that they’re not likely to approve any bitcoin ETF applications anytime soon. This puts the industry a huge step back as it would mean other altcoins would have to wait much longer.

Bulls are also likely holding out for bigger developments instead of mere speculations. For now, it looks like the slide could carry on until actual evidence of a pickup in volumes from institutional investors early next year are seen.

 

SARA JENN · DECEMBER 4, 2018 · 12:30 AM

Alan Zibluk Markethive Founding Member

Bitcoin Prices Down – Leaders Call for Crypto Taxation

Bitcoin Prices Down - Leaders Call for Crypto Taxation

Bitcoin Prices Down – Leaders Call for Crypto Taxation ?

Investing.com – Bitcoin and other major cyptocurrencies all slipped on Monday in Asia, pressured by reports that G20 leaders had called for taxes on cryptocurrencies during a summit over the weekend in Argentina.

Bitcoin lost 5.04% to $4,041.3 by 10:31 PM ET (03:31?GMT) on the?Investing.com index.?Ethereum was down 4.59% to $114.34, and XRP dropped 3.37% to $0.36319 on the?Poloniex?exchange.???

Litecoin?also slid?5.53% to $32.10?on the?Bitifinex?exchange.?

Bitcoin continues to hover at the $4,000 range after losing roughly 40% of its value since mid-November.

On Monday morning, media reported that members of the G20 agreed to work on international effort to regulate cryptocurrencies in line with standards stipulated by the Financial Action Task Force (FATF), an intergovernmental organization launched in 1989.

The move is seen as an effort to curb tax evasion by investors and traders of crypto-assets. G20 members, included crypto-assets in the joint declaration at the end of the summit.

“We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed,” reads a section of the declaration.

G20 members are also looking to build a system of taxation for cross-border electronic services, with the joint declaration noting that the group will “work together to seek a consensus-based solution to address the impacts of the digitalization of the economy on the international tax system with an update in 2019 and a final report by 2020.”

 

Source Investing.com Cryptocurrency News

 

Alan Zibluk Markethive Founding Member

Report: Bitcoin Mining Benefits Global Economy is Not Detrimental to Environment

Report: Bitcoin Mining Benefits Global Economy, is Not Detrimental to Environment

Report: Bitcoin Mining Benefits Global Economy, is Not Detrimental to Environment

A new study by Coinshares has revealed that about 78 percent of Bitcoin miners use renewable energy when operating their mining businesses, while China has taken steps to prevent wastage of surplus electricity. Contrary to the mainstream media demonising Bitcoin mining operations as environmentally degrading, the UK-based digital asset management company argues that nost mining operations buy electricity as a “last resort”.

China has taken some major leaps in terms of generating clean energy, with the government pouring billions of dollars into solar, wind and hydroelectric power. With almost 60% of the world’s bitcoin mining operation happening in China itself, the clean power move has resulted in an excess of that energy being used, the report noted.

Situations are similar in the Pacific Northwest, with renewable energy dominating mining operations all across British Columbia, Washington and Oregon. Scandinavia, whose mines generate almost 35% of the global Bitcoin share is also seeing an upsurge in the use of renewable energy.

China’s large-scale investments have caused stress on the electricity grids, resulting in grid operators to refuse to accept surplus renewable energy capacity, in a move termed as ‘curtailing’. According to the report, most of the Chinese miners are using this curtailed electricity instead of letting it go to waste.

The report noted that large sections of these mining operations were using renewables. For example, China’s Sichuan province which is home to a big chunk of the country’s mining operation is using almost 90 percent of its energy from renewable sources.

Researchers from the University of Hawaii looked at how Bitcoin mining contributed to the world’s carbon emissions as compared to other conventional forms of technology that are used in our daily lives. But it turned out to be a difficult task to quantify its carbon footprint due to its computationally demanding process and the use of multiple, expensive pieces of technology.

The report reveals that 77.6 per cent of the world’s cryptocurrency miners use renewable sources of energy such as hydro power, making it “greener than almost every other large-scale industry in the world.” The researchers also noted that miners were environmentally conscious themselves, with cooler mining regions of Northern China saving up electricity on cooling systems for the mining hardware.

The report concluded by stating that although the miners were self-serving in that they simply looked for the most cost-effective sources of energy to mine cryptocurrency, they inadvertently also made the majority of the industry more environment-friendly than most other industries.

 

By Debarun Gupta

Alan Zibluk Markethive Founding Member

Bitcoin bulls ask where’s the bottom?

Bitcoin bulls ask, where's the bottom?

Bitcoin bulls ask, where's the bottom?

  • Bitcoin lost 37 pct in the month of Nov.

  • The bottom not yet in sight as bulls scramble for stability.

Bitcoin, the largest cryptocurrency by market capitalisation and the coin that gave blockchain to the world, has lost 37 percent of its value in the month of November, has still not been able to find a stable bottom, as the prices fell back again after rallying back above $4,000 during the week.

BTC/USD is down nearly one percent on day at $3,942, but trading in less than 0.3 percent range for the day, thanks to lower volumes and resulting in lower volatility for the crypto whose second cousin is volatility.

A quick look at various time-frames of the chart reveals us that although volatility has come down a but after November sell-off, by no means a long term meaninful bottom has been placed yet. BTC may well touch and even break recent lows and head towards $3,000 as mentioned last week. (Read here) Even as experts such as Morgan Creek Capital Management's CEO, Mark Yusko, believe that there is long term value for the largest coin and bottom should be somewhere around the corner.

BTC/USD daily chart:

Manoj B Rawal

FXStreet

 

Alan Zibluk Markethive Founding Member

Bitcoin volatility fading away -where from here?

Bitcoin volatility fading away -where from here?

Bitcoin volatility fading away -where from here?

  • BTC/USD is hovering around $4,300.

  • Mati Greenspan says volatility is good for Bitcoin's popularity.

Bitcoin is hovering around $4,300 handle, locked in a narrow range with the upper border at $4,400. The first digital coin has calmed down after a volatile week as the market players seek to understand what comes next.

According to Mati Greenspan, a senior market analyst at eToro, volatility growth brought the discussion of crypto mass adoption issues to the forefront.

“Certainly, it would be better for the use case of cryptocurrencies if they remained more stable, or to see a slow but steady increase in prices. But let’s be straight, would bitcoin be as popular as it is today if not for the wild volatility?” he commented.

Mr. Greenspan believes that the bull run of 2017 brought a vast amount of new users to the crypto universe.

“The outrageous bull run of 2017 has been largely responsible for bringing an unprecedented number of new users into the network but it seems that excitement can be generated on the way down as well.”

Bitcoin's technical picture

From the short-term point of view, BTC/USD is supported by SMA50 (1-hour) at $4,166. Once this level is cleared, the downside may be extended towards critical $4,000 with SMA200 (1-hour) on approach. A sustainable move under $4,000 with expose $3,900-$3,870 area

On the upside, the nearest resistance lies with congestion zone $4,500, which needs to be cleared before we can proceed to the next psychological hurdle $5,000.

BTC/USD, 1-hour chart

 

Tanya Abrosimova

FXStreet

Alan Zibluk Markethive Founding Member

Never Talk to Strangers?

God wants us to share His good news with everyone

Written by Gary Schneider on 27/11/2018

Series: Weekly Devotional

Tags: EvangelismGospelJesus


And he had to pass through Samaria. So he came to a town of Samaria called Sychar, near the field that Jacob had given to his son Joseph. Jacob's well was there; so Jesus, wearied as he was from his journey, was sitting beside the well. It was about the sixth hour. A woman from Samaria came to draw water. Jesus said to her, “Give me a drink.” (For his disciples had gone away into the city to buy food.) The Samaritan woman said to him, “How is it that you, a Jew, ask for a drink from me, a woman of Samaria?” (For Jews have no dealings with Samaritans.) Jesus answered her, “If you knew the gift of God, and who it is that is saying to you, ‘Give me a drink,’ you would have asked him, and he would have given you living water."

John 4:4-10

Though most of our personal evangelism probably happens in the context of some kind of relationship (friend, family member, coworker, neighbor, classmate, teammate, etc.) there are countless opportunities we have throughout our lives to engage complete strangers with the Good News, just like Jesus did with the Samaritan woman in John 4.

To miss those opportunities is to miss the hand of God in our everyday lives. I believe that He is constantly orchestrating moments where intentional Gospel conversations can take place.

The gospel has power

After the woman at the well went back to town to proclaim her newfound faith in Christ, He told his astounded disciples (a rabbi would never talk to a woman in this culture, let alone a Samaritan woman like Jesus did) this: “You know the saying, ‘Four months between planting and harvest.’ But I say, wake up and look around. The fields are already ripe for harvest” (John 4:35). In the same way we must wake up and look around to see the ripe harvest field around us every day… at the restaurant we frequent, in the grocery store we shop at, at the gym we work out in.

One of the biggest blessings this brings is a reminder of the power of the Gospel. Romans 1:16 tells us, “I am not ashamed of the Gospel, for it is the power of God for salvation to everyone who believes.”

There’s something inherently powerful about the message of Jesus, so much so that most of the evangelism you read about in the New Testament centers around Jesus and the disciples reaching complete strangers with the Good News. These are people they bumped into along the way. They were fishermen, tax collectors, everyday Harrys and Sherrys who needed that message of hope.

Those kinds of people are all around us today. In this high-stress, low-hope culture, people need the Gospel message now more than ever.

I know that we’re called to make disciples (not just converts) and I’m convinced that disciples can best be made in the context of a relationship, so I believe that a huge part of our evangelistic efforts should center around people we know and are getting to know. Because once they come to Christ we can help them grow in Christ so they can make more disciples.

A story of a changed heart

Several years ago I lived in northern Quebec, Canada for the purpose of learning the French language. During the very early stages of that difficult task, I met a fellow student named Raul who came from Colombia to learn French. God distinctly nudged me to share the Gospel with Raul. Over breakfast one day, I struggled and strained to share the basic truths of the Gospel with Raul. We had a very limited number of French words in common to communicate with as his native language was Spanish. With the help of a napkin, a pen, and the Holy Spirit, I could tell Raul was understanding the message.  My very first prayer ever in French was to lead Raul to Christ. After the prayer he reached into his wallet as if to pay me for the prayer.  I said, “no, no it’s not like that.” He was actually pulling a picture of Jesus out of his wallet.  He then said that all his life he has wanted to know the Jesus in his wallet. Now, Raul said, “this Jesus is not just in my wallet, now He’s in my heart.”

I would have totally missed that opportunity if only shared the Gospel with those I have a relationship with. The only reason I shared the message is because God put him on my heart.  Even with very limited vocabulary and ability to communicate, the Holy Spirit made the message understandable and Raul’s life was changed. We met every week for a year after that breakfast and he became a great friend and a reproducing disciple of Christ back in Colombia.

Let’s share Jesus with those we know. Let’s invest in them and introduce them to the Lord. But let’s lift up our eyes and look around at the harvest all around us all the time.  Divine appointments are waiting for YOU!


Pray this week:

Lord, forgive me for the opportunities I haven’t taken advantage of to share the good news of your Gospel with those I come in contact with. I pray that you will give me more of these opportunities, and that you’ll give me the correct words to say to share your love with those around me. Amen.


Why do you think you don’t share the gospel with those around you – even if they are your friends? What should you do to feel more comfortable sharing the good news with others?

Alan Zibluk Markethive Founding Member

Bitcoin Prices Soar -Nasdaq to Launch Bitcoin Futures in Q1 2019

Bitcoin Prices Soar -Nasdaq to Launch Bitcoin Futures in Q1 2019

Bitcoin Prices Soar -Nasdaq to Launch Bitcoin Futures in Q1 2019

Investing.com – Bitcoin and other major digital coins’ prices all traded higher on Thursday in Asia on news that Nasdaq is set to introduce Bitcoin futures in the first quarter of next year. ?

Bitcoin jumped 6.55% to $4,187.5 by 09:31 PM ET (02:31?GMT) on the?Investing.com index.?Ethereum added 4.49% to $118.77 and XRP gained 2.48% to $0.37633?on the?Poloniex?exchange.???

1337/LTC?also advanced?8.68% to $33.550?on the?Bitifinex?exchange.?

Bitcoin regained a bit of momentum following a second low this week. The most traded digital coin dropped below $3,800 in mid-week before bouncing to this week’s peak at $4,395 on early Thursday morning.

However, Bitcoin remains trading 30% less of its value since mid-November, when the digital coin dropped from above $6,500.

On Thursday, media reported that Nasdaq is set to launch bitcoin futures in the first quarter of 2019 despite the current bearish sentiment for cryptocurrencies.

Bitcoin futures will provide investors with a centralized marketplace where participants can speculate on the future price movements of Bitcoin.

Nasdaq has reportedly been working closely with the Commodities Futures Trading Commission (CFTC) to secure regulatory approval for its proposed Bitcoin futures launch together with investment management firm VanEck.

Gabor Gurbacs, VanEck's director of digital asset strategy, said the firm "ran a few extra miles working with the CFTC to bring about new standards for custody and surveillance."

Nasdaq is not the first one to enter the digital currency space. The CFTC has so far approved two crypto futures products. One is from the Chicago Board Options Exchange and another from the Chicago Mercantile Exchange.

Nasdaq showed interest in tapping into the crpyto space earlier. In April, its CEO Adena Friedman told media that “certainly Nasdaq would consider becoming a crypto exchange over time.”

 

Alan Zibluk Markethive Founding Member

Bitcoin BTC Bulls Are Back in the Game

 

Bitcoin (BTC) Bulls Are Back in the Game!

Bitcoin could be due for a reversal from its slide as it just broke past the top of a descending channel.

Bitcoin was previously trending lower inside a descending channel but has just broken past the resistance to indicate that a reversal is due. Price has also closed above the 100 SMA dynamic inflection point as an additional bullish signal.

However, the 100 SMA is still below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the downtrend is more likely to resume than to reverse. Price has yet to test the 200 SMA dynamic inflection point which might also lead to some bearish pressure.

RSI has also reached the overbought zone to indicate that buyers are starting to feel exhausted. Similarly stochastic is in the overbought area to signal that buyers might want to take a break. Turning lower could confirm that sellers are about to take over, possibly pushing bitcoin back inside the channel and onto the lows.

Still, it’s also worth pointing out that both oscillators are pointing up for now and have yet to show any inclination to head south. This suggests that bulls could keep charging.

Also, bitcoin is forming a double bottom pattern with the latest move and could be due to test the neckline at $4,200. A break beyond this could spur a rally that’s the same height as the chart pattern, which is around $400. Increased bullish momentum could lead to technical breaks of the next areas of interest, that might draw even more buyers in.

Indications that institutions are pushing ahead with crypto investments despite the recent bear market are making it to the newswires. Confirmation from a few key figures in the industry also led to the improvement in sentiment that is likely driving the recent moves.

 

Rachel Lee by Rachel Lee November 28, 2018

Bitcoin (BTC) Bulls Are Back in the Game!

Alan Zibluk Markethive Founding Member

What is True Worship According to the Bible?

Worshiping both in Spirit and Truth

Written by Dan Lee on 23/08/2016
Series: Weekly Devotional
Tags: God, Singing, Worship
The hour is coming, and is now here, when the true worshipers will worship the Father in spirit and truth, for the Father is seeking such people to worship him. God is spirit, and those who worship him must worship in spirit and truth.

John 4:23-24
In John 4:23-24, Jesus spoke about worship with the Samaritan woman. Let’s try to understand what true worship is according to the Bible, and how you can apply it to your own relationship with God:

1. True worship requires our spirit.
“. . . true worshipers will worship the Father in spirit . . .” Does this mean our spirit, or God’s Holy Spirit? Actually, it’s both! Worship is meant to include our whole self. This is why the Lord commanded Israel in Deuteronomy 6:5, “You shall love the LORD your God with all your heart and with all your soul and with all your might.” Both publicly and privately, we must not just go through the motions of worship, but be fully involved with our heart and soul – our inner selves.

2. True worship requires to worship in the Holy Spirit.
Ephesians 5:19-20 tells us, “And do not get drunk with wine, for that is debauchery, but be filled with the Spirit, addressing one another in psalms and hymns and spiritual songs, singing and making melody to the Lord with your heart.” When we are filled with God’s Spirit, a natural result is heartfelt worship – singing to God, and talking about Him to others.

3. We need to worship in Truth.
What is the truth? A better question is, who is the truth? The answer is Jesus: “Jesus told him, ‘I am the way, the truth, and the life. No one can come to the Father except through me.’” (John 14:6)

Jesus also said, “And you will know the truth, and the truth will set you free.” (John 8:32). The more we know Jesus, who is the truth, the more we will be able to worship in truth. We get to know Jesus through prayer (we talk to Him) and His word (He speaks to us).

When you worship God in a church or anywhere else, ask the Lord to help you “Think about the things of heaven, not the things of earth” (Colossians 3:2). He will help you to worship him with your whole heart, and not just go through the motions. The Lord will be glorified, and your faith will grow, and others will hear about Him.

Pray this week:
Father, Please help me understand how to worship You in spirit and in truth.

Do you need more help understanding worship?

Alan Zibluk Markethive Founding Member

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