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Bitcoin price analysis – BTCUSD rangebound under 6400 but further losses are limited

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Bitcoin price analysis - BTC/USD rangebound under $6,400, but further losses are limited

Bitcoin price analysis – BTC/USD rangebound under $6,400, but further losses are limited

  • BTC/USD stays below critical support, but the downside momentum is fading away.

  • New Tether coins hit the market, BTC did not react.

BTC/USD is changing hands at $6,388, consolidating losses incurred at the beginning of the week. The digital currency No. 1 touched $6,327 low on Tuesday, though the bearish momentum has faded away, allowing for the recovery towards the key resistance area, created by 23.6% Fibo retracement for the downside movement from September 4 peak.
 

Bitcoin's technical picture

Looking technically, BTC/USD is recovering slowly from September 8 low reached at $6,114. This trend remains untouched as long as the price stays above the upside trendline currently at $6,280. Once it is broken, $6,000 will come into focus, threatening to push BTC/USD back on the bearish track.

Meanwhile, from the short-term point of view, a sustainable move below $6,400 looks nasty. If this ground is not regained soon, the selling pressure may intensify and push the price towards the above-said critical trend line support.

The next hurdle is created by SMA40 (4-hour chart) above $6,500 and $6,600 (38.2% Fibo retracement). A sustainable movement higher will allow proceeding towards $6,650 (SMA200, 4-hour chart) and psychological $6,700.
 

Tether movements

Meanwhile, crypto community noticed that the amount of Tether in circulation increased by $12.89M. The newly minted coins were transferred to Bitfinex, the fourth largest cryptocurrency exchange by trading volumes. However, this Tether issuance did not influence Bitcoin's momentum in any noticeable way.

 

Tanya Abrosimova

FXStreet

 

Alan Zibluk Markethive Founding Member

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While I Kept Partying My Parents Kept Praying:

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eryone has to decide for themselves whether they are going to be followers of Christ.

Tags: Salvation, Testimony

This article was written by Andrew Palau.

Like all people, I had to decide for myself whether or not I was going to be a follower of Jesus Christ. My parents had hoped and prayed that I would make this decision as a child, but I did not. It took 27 years for me to finally decide for myself.

I grew up in a great Christian home. Mom and Dad loved me and were truly gentle parents. We went to a great church. Regardless of the tremendous blessings in my life, I wanted what the world had to offer. Although my father, international evangelist Luis Palau, preached to millions, he had no words that could humanly change my heart.

When I was about 12 or 13 years old, a friend’s older siblings introduced me to stuff that even the wilder kids weren’t doing. As time went on I began building a reputation of being the wildest and craziest kid around. I just loved to party… and drink… and smoke marijuana, which some say is the biggest cash crop in my home state of Oregon.

When my parents learned what I was doing, they couldn’t believe it. They were wise because they sought biblical counsel, and they understood that they could not convince me to live a godly lifestyle. They decided that the only thing they could do was to trust the Lord, model faith in the midst of trying circumstances, and do their best to live lives filled with the joy of the Lord.

It was very convicting as I watched them release me to God. “We love you,” they told me. “We’ve done our best, but we trust the Lord… The Holy Spirit is the One who convicts of sin and unrighteousness.” Dad and Mom kept praying for me; I kept partying.

Is there a loved one in your life who is far from God? Are you asking God how He would have you relate to this person, and relying on Him? What have you learned so far that may help others in this difficult situation?

Or is this a story that you can relate to?

Whatever your situation, talking to someone about what's going on can help. S

 

Alan Zibluk Markethive Founding Member

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Bitcoin BTC Price Watch – Back to Support Yet Again

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Bitcoin (BTC) Price Watch - Back to Support Yet Again!

Bitcoin (BTC) Price Watch – Back to Support Yet Again!

Bitcoin Price Key Highlights

 

  • Bitcoin price has formed higher lows and lower highs to trade inside a triangle pattern on its 4-hour time frame.

  • Price got rejected on a test of resistance once more and a move to support appears to be taking place.

  • Technical indicators are suggesting that further declines could be in the cards.

Bitcoin price bounced off the top of its triangle consolidation pattern and is gearing up for another test of support.

 

Technical Indicators Signals

 

The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, support is more likely to break than to hold. Price is currently testing the 100 SMA dynamic inflection point and might be due for further losses if it breaks below this level or the $6,250 triangle bottom.

Stochastic is also heading south so bitcoin price might follow suit while sellers have the upper hand. This oscillator is nearing oversold levels, though, so bears might be feeling exhausted soon. RSI is pointing down and has more room to fall before hitting oversold levels, so sellers could stay in control for a bit longer.

The chart pattern spans $6,000 to around $8,250 so a break lower could be followed by a drop of the same height. Similarly an upside break could lead to a rally that’s the same height as the triangle.

Bitcoin price has drawn support from the SEC decision to open the comment period for the proposed rule change to list the bitcoin ETF by VanEck/SolidX on an exchange. This keeps traders’ hopes up that an approval may be in the works sooner or later as it managed to avoid a quick rejection.

Meanwhile, there appears to be no major catalyst that has spurred the sharp tumble, apart from profit-taking. Some point to the BIS report that regulation has been a driving factor for bitcoin price also.

SARAH JENN | SEPTEMBER 25, 2018 | 4:34 AM

Alan Zibluk Markethive Founding Member

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In the World Not of the World

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Jesus calls us to be different from the World, while making a difference in the World.

Written by Joy on 08/08/2015
Series: Weekly Devotional
Tags: Culture, Life, Light, Sin
“Jesus prayed, ‘They do not belong to this world any more than I do. Make them holy by your truth; teach them your word, which is truth.’” John 17:16-17

We cannot expect non-believers to have godly moral standards and desire to please God. We can, and should, expect Christians to act differently than the culture that they live in—as different as night and day.

Darkness of World Culture
“This, then is the judgement: The light has come into the world, and people loved darkness rather than the light because their deeds were evil.” (John 3:19). Human culture is ruled by sin and selfish desires. Without Jesus people are lost in darkness (Matthew 18:10-14), dead in their sin (Ephesians 2:1-5), separated from God (Colossians 1:21-22) and condemned without hope (John 3:18). When you are in the dark, you cannot see the truth.

Remember, that is where we ALL began. (Romans 3:11, 23)

Jesus is the Light of the World
“He (Jesus) has rescued us from the domain of darkness and transferred us into the kingdom of the Son He loves. We have redemption, the forgiveness of sins, in Him.” (Colossians 1:13-14). Becoming a Christian is not about reciting a prayer or going to church. It is a complete transfer of your allegiance from one king to another. It is a radical transformation of your identity. Jesus said, “I tell you the truth, unless you are born again, you cannot see the Kingdom of God” (John 3:3).

Have you been born again? What King do you serve?

Become Born Again

Live as Children of Light
Read Ephesians 4:17-24 and understand that “Christ-followers” must be different from the popular culture that surrounds them. We no longer belong to this world but to God. “Do not love this world nor the things it offers you. If anyone loves the world, love for the Father is not in him. For everything that belongs to the world – lust for physical pleasure, a lust for everything we see, and pride in our achievements and possessions- is not from the Father, but is from this world. And this world with its lust is fading away, but the one who does God’s will remains forever.” (1 John 2:15-17).

Are you seeking first to please God?

Pray this week:
That God would expose any way that you are letting worldly culture influence you. Ask Jesus to rule your thoughts and actions as your rightful King.

Do you act and think differently than non- Christians? 

Alan Zibluk Markethive Founding Member

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Bitcoin Price Analysis – BTC Acquires Safe Haven Status After Brexit Woes

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Bitcoin Price Analysis - BTC Acquires “Safe Haven” Status After Brexit Woes

Bitcoin Price Analysis – BTC Acquires “Safe Haven” Status After Brexit Woes

All in all, Bitcoin prices are on an uptrend. Backing these are boosting fundamentals with investors anchoring their bullish hopes on Bakkt, the ICE subsidiary. The platform will make use of Microsoft technologies for expediency. Regardless, our previous trade plan holds true. Even with a modest three percent gain in the last week, we need to see strong gains above $7,000 or safely $7,200 for trend continuation. Thereafter we shall recommend large volume buys with targets at $10,000.

Latest Bitcoin News

At current levels, Bitcoin prices are not only vibrant but are bottoming up. Bitcoin prices are up roughly $500 from last week’s lows. Factoring in candlestick formations, it appears that there is more room for upsides thanks to spikes in market participation levels.

All eyes are now set on Intercontinental Exchange (ICE), the owners of the New York Stock Exchange. The ICE plans on launching a new regulated “on-ramp” platform for institutional investors, merchants and retail investors to trade, store and spend various digital assets through

All aspects of the existing futures market will, for the first time, be part of physical delivery and warehousing of Bitcoin

Bakkt will utilize MS cloud solutions with backing from traditional Wall Street companies and crypto funds as Starbucks, BCG and Fortress Investments. Once they get the green-lights, Bitcoin prices will likely on a high by the end of the year as investors rush to invest. In fact the optimism is so high that Michael Novogratz, the Former Managing Partner at Goldman Sachs said it is impossible for Bitcoin prices not to test $10,000 by the end of the year re-affirming his previous stands on price.

Bitcoin Technical Analysis

Weekly Chart

Though there is optimism in the market, our last Bitcoin trade plan is solid and on course. From the weekly chart, it’s clear that Bitcoin prices are on a consolidation. As they oscillate within a $1,200 range with supports at $5,800–$6,000 support and $6,800–$7,200 resistance level, our Bitcoin buy triggers would only go live once there are conclusive surges above the resistance trend line separating buyers and sellers at around $7,200—Sep 2018 highs. Besides the ranging market, the $6,000 level is proving to be a solid foundation for Bitcoin buyers.

After all, BTC sellers have so far retested $6,000, six times. Every time sellers fail to breach these resilient floors. Overly, this is good for BTC optimists. It goes to show how important $5,800–$6,000 level is from our analysis.

Daily Chart

Before Sep 18 surges, $6,500 or Sep 17 highs were our minor resistance level. Cementing our decision to anchor suitable stops and buy triggers at $6,500 was those high trading volumes of Sep 17.

Notice that average volumes before Sep 17 bearish engulfing candlesticks were low. Besides, we would strong reasons to hold on to short positions because Sep 18-20 candlestick volumes were low. However, after Sep 21 price explosion at the back of high volumes, sells were nullified and short term bulls were triggered with first targets at Sep 5 highs at $7,300.

In the course of this week, it’s likely that Bitcoin bulls will follow through. In that case conservative buyers would only enter long trades if and only if there is Sep 21-like breach above $7,000–$7,200. Thereafter, we can recommend loading on pull backs in lower time frames with first targets at $8,500 and later $10,000.

 

DALMAS NGETICH | SEPTEMBER 24, 2018 | 4:30 AM

Alan Zibluk Markethive Founding Member

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How Long Will God Take to Answer My Prayer?

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Have you ever wondered, “Is God there? If He is, why doesn’t He answer my prayer?"

Written by Janet Perez Eckles on 18/09/2018
Series: Weekly Devotional
Tags: Anxiety, Peace, Prayer, Stress
Do not be afraid. Stand firm and you will see the deliverance the LORD will bring you today. The Egyptians you see today you will never see again. The LORD will fight for you; you need only to be still.

Exodus 14:10-14
If you’ve asked yourself “how long God will take to answer my prayer?” You’re not alone, we’ve all been there! Even the Israelites join us in that grumbling. 

When Pharaoh ordered the Egyptians to march after the Israelites, they were terrified and cried out to the LORD. They said to Moses, “Was it because there were no graves in Egypt that you brought us to the desert to die? What have you done to us by bringing us out of Egypt? Didn’t we say to you in Egypt, ‘Leave us alone; let us serve the Egyptians?’ It would have been better for us to serve the Egyptians than to die in the desert!”

Moses answered the people, “Do not be afraid. Stand firm and you will see the deliverance the LORD will bring you today. The Egyptians you see today you will never see again. The LORD will fight for you; you need only to be still.” (Exodus 14: 10-14)

Have you ever complained like that? Let’s we be honest, we all have. And that’s because we’re deep into our own struggles. We end up terrified like the Israelites. We grumble in the hot desert of frustration. And as we trudge through the dry land of conflict, of uncertainty and nervousness, we desperately look for God’s answer, a clear path, a solution; we look to be rescued now.

But no one is there. And we have our own Egyptians called stress and anxiety that chase us, threatening to ruin our day.

But if Moses were alive today, he might post a message to all of us, “Do not fret, God will fight your battles. His answer is already here. You need only to be still.”

That’s because it’s in the still of His presence that His peace can fill our nights. In the still of our heart is when His whisper brushes through. And in the still of the moment is when we see His promises come alive.

Pray this week:
Father, calm my heart, whisper your answer into my longing. Silence the distractions so I can see your answer to my prayer. In Jesus name. Amen.

Can you tell me, in the midst of your hectic life, what keeps you from being still enough to hear His answer? 

Alan Zibluk Markethive Founding Member

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In Argentina Investors Flock to Safe-Haven Bitcoin

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The economic crisis in Argentina is driving investors to buy Bitcoin in order to protect their wealth, pushing the cryptocurrency’s price higher in-turn. In parallel, to satisfy the increasing demand, the first of 12 Bitcoin ATMs has already begun to operate in a Buenos Aires mall. The number of stores accepting Bitcoin also continues to rise.

BITCOIN IS A SAFE-HAVEN DURING AN ECONOMIC CRISIS

As the country’s currency plunges, Argentinian investors and ordinary people are exchanging their pesos for Bitcoin (BTC) $6720.73 +0.22%. In this regard, economist and mathematician D.H. Taylor writes,

“Argentinians are moving in large numbers out of their peso and into a more stable currency, BTC. The numbers being witnessed by the markets in BTC are surging from Argentina.” And he adds, “The stability being offered by the digital currency is far greater than the peso and Argentinians are moving in quickly.”

As for substantiating evidence, Taylor refers to the chart below showing the weekly volume of Bitcoin purchases in Argentina:

One of the wealthiest countries in Latin America, Argentina is once again undergoing a severe economic crisis. In April 2018, the peso started plunging against the dollar at an unexpected speed.
 

Most economists agree that the devaluation of the peso is due to investors’ doubts about the government’s ability to contain its unrelenting inflation and to minimize the effects of the U.S. Federal Reserve interest rate increases, which have strengthened the dollar all over the world.

Now, the Argentina year-over-year inflation rate reaches over 34 percent.

TAYLOR: THE BIGGEST SOLUTION IS BITCOIN

So far, the efforts of Argentina’s Central Bank to stabilize the peso have been to no avail. As a result, according to Taylor, the Central Bank is exploring the possibility of diversifying into Bitcoin,

The biggest solution is Bitcoin, or BTC-USD and, according to the data, Argentinians are buying large amounts. At the same time, the Argentinian Central Bank is considering diversifying their currency reserves into BTC.

The Central Bank has already eased regulations regarding ATMs in the country. This easing of regulations has facilitated the installation of ATMs processing cryptocurrencies.

In Argentina, Investors Flock to Safe-Haven Bitcoin

Alan Zibluk Markethive Founding Member

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Restored Sexuality

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God’s plan for sex

Written by Joy on 14/06/2016
Series: Weekly Devotional
Tags: Lust, Marriage, Sex, Sin
Carefully determine what pleases the Lord.

Ephesians 5:10
God created sex to be a beautiful gift. In Genesis 2, God says it was not good for man to be alone so God created the perfect partner, a woman, so they could become one flesh. The chapter closes with the statement, “they were both naked and felt no shame.” Sex creates a unique relationship that involves physical, emotional and mental unity and completion.

If sex is blessed by God, what makes it immoral?

Blessings Lost
When we forget God has authority to set limits, blessings are lost. “Yes, they knew God, but they wouldn’t worship him as God or even give him thanks. And they began to think up foolish ideas of what God was like. As a result, their minds became dark and confused.” (Romans 1:28). Your phone works best when you use it the way it was designed. In the same way, God designed sex to work a certain way. Rejecting His design leads to darkness, confusion, secrecy, shame, and judgement.

Blessed Design
God used His infinite wisdom to design sex in the beginning. God does not need to “evolve.” He does not change his mind based on our opinions. Scriptures from Genesis to Revelation give a very clear picture of the kind of sex that pleases God. “This explains why a man leaves his father and mother and bonds with his wife, and they become one flesh.” (Genesis 2:24). God approves of sex when it is between one man and one woman who have made a lifelong commitment to marriage. Jesus confirmed this to be an unchanging truth in Matthew 19.

Are you willing to trust God’s wisdom and love and follow his guidelines?

Blessing Restored
“He has rescued us from the domain of darkness and transferred us into the kingdom of the Son He loves. We have redemption, the forgiveness of sins, in Him.” (Colossians 1:13-14). We no longer have to sit in the darkness of shame and confusion. Jesus has made us children of light! (Ephesians 5:8-11)

“You cannot say that our bodies were made for sexual immorality. They were made for the Lord, and the Lord cares about our bodies…If we belong to Christ our body is not our own but a temple of the Holy Spirit and therefore we should honor God with our body.” (1 Corinthians 6:13, 19-20). Obedience to God’s plan for sex is a choice we make when we want to please God, not ourselves (Colossians 3:1-17). God has given every Christian the Holy Spirit to teach us truth and empower us to obey it.

Are you going to find out what pleases the Lord and choose to live by it?

Pray this week:
Show me, Lord, where I am not pleasing you in my attitudes and actions regarding sex.

Alan Zibluk Markethive Founding Member

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Bitcoin Price Analysis: BTCUSD Testing Double Bottom Neckline

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Bitcoin Price Analysis: BTC/USD Testing Double Bottom Neckline

Bitcoin Price Analysis: BTC/USD Testing Double Bottom Neckline

Bitcoin could be due for an uptrend anytime now as the price is already testing the neckline of its double bottom on the 1-hour chart. A break past the $6,650 area could lead to a climb that’s the same height as the chart formation, which spans $6,100 to $6,600.

However, the 100 SMA recently crossed below the longer-term 200 SMA to signal that bearish pressure is present. This could force the neckline resistance to hold and push Bitcoin back down to the bottoms again. Then again, the moving averages just seem to be oscillating to reflect consolidation conditions, so a bullish crossover might be possible again.

RSI is hovering close to the overbought zone to signal bullish exhaustion. Turning lower could confirm that sellers are taking over while buyers take a break. Stochastic has some room to climb before hitting overbought levels, though, so buyers could have a bit more energy left to push for a neckline breakout.

he SEC just issued an order to gather more input from the public to help in its ruling on the proposed rule changes to list the Bitcoin ETF from SolidX/VanEck. Recall that they already pushed the ruling deadline back on this and could still do so again, possibly not making any decision until February next year.

If so, Bitcoin bulls might still be disappointed but could continue to keep hopes up for an approval. A flat-out rejection, on the other hand, could douse any expectations that a strong rebound to the record highs could take place this year. Approval, although seemingly least likely, could usher in strong gains across the board.

The decision is due at the end of the month and analysts are already pointing to the buildup of short positions on Bitcoin, likely the cause for the sharp dip earlier this week.

 

SARA JENN · SEPTEMBER 21, 2018 · 1:00 AM

Alan Zibluk Markethive Founding Member

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Bitcoin BTC Price Analysis – Tossing And Turning At Wedge Support

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Bitcoin (BTC) Price Analysis – Tossing And Turning At Wedge Support

Bitcoin has spiked around current support levels as bulls and bears battle it out.

 

Bitcoin underwent a pickup in volatility, leading to spikes in both directions, but ultimately holding its head above the falling wedge support. Technical indicators are giving mixed signals, so it’s still tough to tell which direction the next move might go.

 

The 100 SMA just recently crossed below the longer-term 200 SMA to signal 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 fall by the same height as the chart pattern. Price is also below the moving averages dynamic inflection points, which could keep holding as resistance.

 

RSI is on the move up, though, so there may be some buying pressure left in play. Heading further up until it reaches overbought levels could take bitcoin price along with it. Similarly stochastic has room to head higher before hitting overbought territory, so buyers could have some energy to push for more gains.

 

Price also looks ready to complete a double bottom formation on the latest bounce, with the neckline located around $6,600. A break past this resistance could spur a rally that’s the same height as the chart formation. Stronger bullish pressure could even lead to a test of the wedge resistance at $7,000 or a break higher, which might then be followed by a rally that’s the same height as the chart pattern.

 

Analysts point to the buildup of sell orders leading up to the SEC decision on bitcoin ETF applications. Recall that the regulator already rejected a handful then announced a decision to review those proposals. Soon after, the SEC decided to temporarily suspend a couple of crypto-based instruments, citing “confusion” on the nature of underlying markets and reiterating their mandate to protect consumers.

 

Still, bulls strongly defended support yet again as many have been waiting to buy on dips.

By Rachel Lee On Sep 20, 2018

Bitcoin (BTC) Price Analysis - Tossing And Turning At Wedge Support

Alan Zibluk Markethive Founding Member

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