Categories: Bitcoin Entertainment

More Online Retailers on Board But Bitcoin Still Flailing

Click here to view original web page at www.forexminute.com
More Online Retailers on Board But Bitcoin Still Flailing

Coinbase teamed up Daily Steals to provide customized deals for Bitcoin users. This is tremendously positive as it gives more opportunities for Bitcoin users to use Bitcoins on their online purchases. Over the last couple of months, many retailers both online and offline have started accepting Bitcoin as a form of payment. This should a whole new slew of participants.

In last night’s session the BTC/USD plummeted below its support level near $373 after being unable to sustain itself, indicating that the bears are certainly active in this stage in the game. The digital currency continues to trade below its important daily moving average, with its 100-day moving average heading closer to $411.

During the Asian morning session, the BTC/USD still is continuing to trade flat but is now forming a bearish bias, something which many analysts consider troubling. Resistance for the crypto-currency continues to remain near the$400 psychological level, whereas support on the downside is still situated around $358.

Its stochastic oscillators are additionally trending lower, which indicate that strong selling momentum is indeed present. Additionally, the BTC/USD’s relative strength index is providing us with a distinct sell signal which is of course a bearish sign. Selling pressure is due to above average volumes, which have leading experts worried as to what sort of future is in store for Bitcoinin the short-term.

Actionable Insight:

Short the BTC/USD at current levels for an intermediate target at $321, with a strict stop loss above $401.

Long the BTC/USD if it moves above $400 for a short term target at $451, with a stop loss below $383.

In last night’s session the BTC/USD plummeted […]

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: press

Recent Posts

Ripple Gives One Billion XRP to Former CTO Startup, Plus Paying For Publicity

Ripple Labs, the company behind XRP, has given for free some 1 billion XRP, worth $270 million, to a company… Read More

31 mins ago

54% of Bitcoin Volume on “Lower Quality Exchanges”: Report

The vast majority of the world’s cryptocurrency trading volume is in the hands of “lower quality exchanges”, while the world’s… Read More

31 mins ago

Bitcoin is Used more by Civilians than Some Bankers, Lawmakers or Terrorists

In many countries, including Palestine and the entire world at large, Bitcoin is used more by civilians than some bankers… Read More

31 mins ago

Billionaire Investor Tim Draper Claims Bitcoin Prices Will Hike Upto $250,000 By 2022

Very rich person Investor Tim Draper Claims Bitcoin Prices Will Hike up to $250,000 by 2022Bitcoin (BTC) may proceed to… Read More

31 mins ago

Bitcoin (BTC) mining giant Bitmain firm announces purchasing more crypto mining chips that subject to a potential profit of $1.2 billion

Risk Disclaimer - By using this web site you agree to its terms and conditions. All materials, including but not… Read More

31 mins ago

Squeaky-Clean Apple Is Quietly Pummeling Its FAANG Stock Buddies

Apple stock is brushing off a decline in iPhone sales while continuing to make gains in 2019. | Source: REUTERS/Joshua… Read More

31 mins 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