submitted by Smart_Smell to Robopay [link] [comments]
Cryptocurrency technical analysis: cryptocurrency assets began the rally
Top crypto assets have been in an uptrend this week. One of the reasons for the growth was the positive dynamics in the US stock market. This was facilitated by the decision of the US Federal Reserve to continue the asset repurchase program in current volumes until March 2021. In addition, a number of news has influenced the digital asset market. So, on July 25, Chief Justice of the District Court of the District of Columbia Beryl Howell recognized bitcoin as a form of money and stated that the asset falls under the money laundering law. This decision was made during the $311 million laundering case, where the head of the Coin Ninja crypto project Larry Dean Harmon is the defendant.
Also since the beginning of the week, Bitcoin futures trading volumes have shown impressive growth, and the regulated crypto exchange Bakkt has reported closing of record high trading sessions. Also, significant support for the growth of the first cryptocurrency was provided by the massive closing of short positions, which were liquidated on July 28 for more than $500 million. And on July 29 it became known that the Central Bank of the Philippines is now participating in the race to launch the first national cryptocurrency. For this, a special committee will be created that will study the issue of launching the CBDC and the legal norms necessary for its work.
BitcoinAfter a rebound from support at $9150, bitcoin quotes easily overcame the $9500 level, which now also acts as support. The 200-day simple moving average (SMA) line passes in this area, as well as the boundaries of the technical analysis “Triangle” (they are marked in pink on the chart below). This allowed Bitcoin to reach the first goal in the form of cluster boundaries of $9,900- $10,000 and $10,400- $10,500.
Now the movement is taking place within the consolidation of $10,800- $11,300. In the coming weeks, maintaining the upward momentum will allow BTC quotes to rush to the following targets — $11,580 and $12,000. divergences ”between the highs on the chart and the MACD oscillator. If this scenario is realized, the targets will be the levels of $10,400 and $10,000. Further downward movement looks unlikely, but may lead to a retest of the $9,500- $9,600 area, where whales will most likely prefer to gain new positions in bitcoin.
BTC / USD chart, four-hour timeframe
On the daily chart of Bitcoin, you can see that there was a breakthrough of the boundaries of the technical analysis model “Triangle” (in the chart below they are marked in orange). From the point of view of technical analysis, a retest of the upper border of this figure should follow in the near future. This can lead to a decrease in the price from the current resistances of $11,000 and the cluster $11,200- $11,300 back to the supports at $10,500 and $10,000. If this scenario is implemented, there is also a chance of Bitcoin falling to the important cluster of $8900 (50% retracement at Fibonacci levels) — $9580.
The presence of divergence between the BTC price and the MACD oscillator indicates a high probability of a correction. But at what levels this reversal will occur is not yet known. But until the end of this year, the first cryptocurrency is ready to maintain its growth trend, which can lead to reaching $11,800, $12,500, a cluster of $13,100- $13,350 and $14,000.
BTC / USD chart, daily timeframe
EthereumAltcoins went up after bitcoin. The ether also shows good growth, the quotes of which continue to confidently rise from the support at $233, below which the 200-day SMA line is located. After overcoming the first target at $280, the ether rushed to the next targets located at the resistance levels of $300 and $320.
Now the ETH quotes have returned to the framework of the “Flag” graphical model, which can reduce the volatility of the asset. At the same time, a correctional decline below $320 will allow big capital to gain positions. The support levels will be $300, $280 and $251. The targets for the development of a long-term upward movement are $363.80, $400 and $420.
ETH / USD chart, daily timeframe
LitecoinOn the daily chart, Litecoin confidently maintains a positive momentum, which led to a breakout of the boundaries of the Descending Triangle technical analysis model. The upward breakout of the $47.45 level, just above which the 200-day moving average (MA) line is located, allowed LTC to go to the targets of $51.50 (38.2% correction level along the Fibonacci lines) and $56.80.
In the medium term, further upward movement may develop to $60.80, $65, $70 and even $83. However, in the event of a correction from the current levels, the whales are likely to gain positions only at the previously tested levels of $50 and $51.50.
LTC / USD chart, daily timeframe
Bitcoin CashBitcoin Cash, as expected, soared from the borders of the “Triangle” price model (on the chart below the borders are marked with pink lines) to the resistance located at the upper border of the “Horizontal Channel” $200- $272. Then the altcoin continued its way to the $305 area.
A correction may develop towards the 200-day SMA line, which is located in the $272 area. But in the long run of the coming months, we can expect a breakout of the $305 level, which will allow Bitcoin Cash to go up to the $356- $368 cluster and further to $400.
BCH / USDT chart, daily timeframe
XRPXRP also took advantage of an influx of liquidity, which led to the breakout of the boundaries of the Descending Triangle model. This allowed the asset to break through the boundaries of the “horizontal channel” of $0.18- $0.2050, in the area of which the 200-day MA line passes. As a result, XRP reached its first targets at $0.2360 and $0.2540.
In the long term, the bulls will be able to take profits at $0.27, $0.2860 and $0.3080. At the same time, the levels of $0.2040, $0.2360 and $0.2540 in the event of a correction can act as supports for the current XRP quotes.
XRP / USD chart, daily timeframe
Binance CoinBinance Coin also did not fail to take advantage of the market situation to break through the resistance in the form of the upper boundary of the “Ascending Triangle” and the level of $18.14. This allowed us to start the long-awaited growth towards the first target in the form of a powerful $19.36– $20 cluster. Maintaining this momentum in the months ahead will lead to the achievement of targets at $21.30, $23.50, $25.80 and $28.20.
But before that, the asset may wait for a correction to the levels of $19.36 and $18, where the 200-day SMA line is located.
BNB / USDT chart, daily timeframe
At the end of this week, we can confidently say that another rally has begun among crypto assets. Moreover, it occurs before the start of the correctional decline on the world stock markets, which some investors warn about. Thus, the cryptocurrency market is becoming a new safe haven for whales, which have preferred to accumulate positions since March. We will not be surprised if this upward movement will last more than one month.
Subscribe to our Telegram channel
Tracking the victims funds related the Twitter hack that happened on Wednesday 15th of July to Elon Musk, Jeff Bezos, Barack Obama, Joe Biden, Kanye West, Bill Gates as well as numerous celebrities. AML Philippines & the Bitcoin Apps in the Country. Coins.ph, Bitbit.cash, and every bitcoin site in the Philippines implement KYC in accordance to AML. Read: KYC in the Philippines) “We are doing this because it might be a venue for money laundering and since it is electronic, it may be hacked so we are regulating the virtual currency exchange.” – Nestor A. Espenilla Jr., BSP Deputy ... While an inordinate number of Bitcoin exchange executives are facing increased violence, and even death (see here and here), one exchange CEO is on trial in the Philippines for the opposite – namely, allegedly killing his girlfriend.. Troy Woody Jr., apparently the CEO of an exchange in the US called Luxr LLC, was arrested in Manila with another person named Mir Islam, and charged with the ... The U.S. Federal Trade Commission is refunding about 8,000 victims who lost money from investing in two bitcoin scams. The fraudulent schemes promised that investors could turn their ... The Philippines has many places you can buy bitcoin from. Not only has the Bangko Sentral ng Pilipinas licensed some cryptocurrency exchanges, but there are also peer-to-peer marketplaces, bitcoin ... CZ: “Although I can’t comment on the case, Binance has procedures in place to prevent money laundering from happening. We don’t agree with the allegation and we’ll see what the results are.” The central bank of the Philippines is preparing a new framework for digital banking, in a move that could lead to more digital banks being established in the country. The Bangko Sentral ng Pilipinas is set to publish a circular on the framework later this month, according to comments by deputy governor Chuchi Fonacier to Philippine Daily Inquirer. The move coincides with developments around ... But some bitcoin exchange website are not concerning about trading limits, it gives the free way for people to do money laundering through bitcoin exchange website. It directly affects the goodwill and legality of a bitcoin exchange website. So in this article, we are going to understand about how to avoid money laundering activities in a bitcoin exchange business. Bitcoin Philippines Blockchain News Philippines Cryptocurrency News. Crypto; Tech; Business; Regulation; Feature ; How To Guides; Promotions; Events; About. Staff and Contributors; Advertise on Bitpinas; Submit Press Releases; Contact Us; News Feature Regulation . Wedding Bells – The Uneasy Marriage Between the Financial and Crypto Sectors . 6 Nov 2020 6 Nov 2020 Dr. William Scott Grob ... Binance Korea will be monitoring activity on its platform for signs of money laundering thanks to a solution developed by Coinfirm.The partnership, announced on June 1, will help Binance’s Korea branch remain compliant with Anti-Money Laundering (AML) regulations resulting from the Financial Action Task
[index]          
Binance Coin (BNB) Analysis & Deep Dive ... Regent University School of Law Recommended for you. 46:39 "Why our church no longer plays Bethel or Hillsong music," Pastor explains false teachings ... Close. This video is unavailable. Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin trading is the act of buying low and selling high. Unlike investing, which means... Exploring the revolutionary Bitcoin digital currency. It doesn't need banks or to be printed. It can be transferred in a second to anywhere in the world. With g... Thanks for watching! For donations: Bitcoin - 1CpGMM8Ag8gNYL3FffusVqEBUvHyYenTP8 Binance blocks US customers: “Binance is unable to provide services to any U.S. person.” Visa, Mastercard, PayPal, Uber back Facebook’s new cryptocurrency Samourai wallet to add privacy to ... Could the long arm of the US law be closing in on the bitcoin, crypto & tether chinese money laundering scheme? Tune in to find out! Tune in to find out! 👌Subscribe to The Chico Channel-- https ... In this podcast I'm going to talk about the EUs new anti-money laundering directive, the AMLD5. Want to support the Channel? Below you find my donation addre... Bitcoin has been accused of being used by Terrorists, Money Launderers, extortionists and worse. Donald Trump is against Bitcoin calling it "bad". Is this really true - is Bitcoin the Currency of ... Decoding The Elite Plan For The World Economy - Mike Maloney On Federal Reserve Strategy - Duration: 56:48. GoldSilver (w/ Mike Maloney) 1,204,910 views