Categories: Bitcoin Entertainment

Bitcoin to Quash Volatility with New Bitreserve

Click here to view original web page at www.forexminute.com


Yesoption Review

Bitcoin, as a currency should ultimately become easier to adopt to if its volatility problems could be solved. Recently, CNET CEO Hasley Minor announced his idea to launch Bitreserve, which will act as a Bitcoin wallet service. According to Minor, Bitreserve will be able to suppress volatility in the price movement by enabling it be easily accessible and introducing features like fixed exchange rates, which will allow users to lock in their deposits. This will additionally allow money transfers at cheap, reliable rates, which could help Bitcoin finally achieve mainstream status.

When looking at the daily chart BTC/USD formed a strong base around the $372 level but continues to trade with a negative bias, as there seems to be no semblance in buying interest at current levels. Additionally, the BTC/USD continues to trade below its 100 day moving average at $489 with resistance remaining near the $408 level.

The stochastic oscillator for the BTC/USD has given a clear reversal signal from the overbought zone, which is shows a shift in momentum towards the sell side. Furthermore, the relative strength index has formed a lower-high, which apart from being a bearish sign also shows a clear lack of buying interest. Analysts now believe that the current sideways correction in the stock will continue and more selling pressure may be witnessed if the BTC/USD breaks below its all-important support zone at $358.

Actionable Insight:

Short BTC/USD if it moves below $360 for a short-term target at $280, with a strict stop loss above $382

Long BTC/USD if it moves above $408 for a medium term target at $450, with a strict stop loss below $372

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: pressshows

Recent Posts

Overstock Will Champion Crypto Despite Cheerleader Byrne’s Exit

Overstock will continue its crypto and blockchain-centric focus despite Patrick Byrne's exit. | Source: YouTube By CCN Markets : Online… Read More

5 hours ago

59-Year-Old Fjällräven Evolves Retail Landscape by Using Blockchain-Based Cryptocurrency for Back-to-School

BOULDER, Colo. (August 22, 2019) — As brands seek ways to engage new, digital-native communities, Fjällräven, the Swedish heritage outdoor… Read More

5 hours ago

Refining The Travel Industry Through Blockchain

If you have travelled before, then you are aware of the myriads of companies that would be involved in a… Read More

5 hours ago

NBA & Blockchain: glimpse of the future?

These days it seems companies quite enjoy adding “2.0” to the end of everything: Internet 2.0, web 2.0, etc. Well,… Read More

5 hours ago

CNBC Analyst Explains Why He is Bearish on Bitcoin

Share Tweet Send Share Earlier this week CNBC Fast Money host Brian Kelly said he is short-term bearish on Bitcoin… Read More

5 hours ago

New York Gym Grit Bxng Accepts BTC Payments

Who would have ever thought that working out and bitcoin could ever go together? Well, thanks to a new Manhattan-based… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More