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Sally Ho's Technical Analysis 13 February 2020 BTC ETH

Sally Ho's Technical Analysis 13 February 2020 BTC ETH

Bitcoin (BTC/USD) extended recent gains early in today’s Asian session as the pair traded as high as the 10392.99 area after finding technical support around the 10250.00 area during yesterday’s European session.  Traders remain curious to see if the pair will be able to reclaim the 11000 figure, a level that has eluded the pair for several months.  The key upside price objective that was closest to that recent high is the 10472.26 area, a level with a technical significance that became relevant after buying demand emerged around the 9078.05 area during the pair’s ascent.  The next downside price objective related to these levels is the 10041.59 level. 

One important level is the 9271.47 area that represents the 38.2% retracement of the move from 13868.44 to 6430.00.  Some additional levels will also provide the pair with a real test if the market retraces lower.  Among these levels, the 9532.39 area represents the 38.2% retracement of the move from 19891.99 to 3128.89 and the 9017.14 area represents the 38.2% retracement of the 13202.63 – 6430.00 range.  Traders are also interested to see how price activity behaves around the 9731.18 area, representing the 23.6% retracement of the move from 8216.71 to 10199.00.

Price activity is nearest the 50-bar MA (4-hourly) at 9892.83 and the 50-bar MA (Hourly) at 10205.48.

Technical Support is expected around 9948.51/ 9757.64/ 9370.10 with Stops expected below.

Technical Resistance is expected around 10483.86/ 10534.04/ 10652.04 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.



Ethereum (ETH/USD) continued its upward trajectory early in today’s Asian session as the pair tested offers around the 276.15 level after finding technical support around the 252.22 area during yesterday’s European session.  The markets are watching closely to see how long ETH/USD can remain above the psychologically-important 200.00 figure following its first trading activity above this level since September.  The pair’s recent high was the 276.15 area, not too far above the 273.00 level that represents an upside price objective related to buying activity that emerged around the 184.29 area in early February.

The next upside price objective related to the buying pressure that emerged around the 116.25 level in late December is the 278.24 area, and the next downside price objective related to this particular buying pressure is the 240.04 area.  One recent relative high around the 230.90 level was also near another important level, namely the 229.46 area that represents the 61.8% retracement of the move from 146.00 to 364.49.  During the market’s recent pullback, the market was supported around the 216.31 area, just below the 216.53 area that represents the 23.6% retracement of the move from 170.00 to 230.90.  Below this level, the 207.64 area is the next downside retracement level.

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CNBC’s Brian Kelly predicts bullish YEAR for bitcoin

CNBC’s Brian Kelly predicts bullish YEAR for bitcoin

Quick take

1 minute read

  • Brian Kelly predicts a bullish future for bitcoin.
  • Bitcoin surpasses $16,000.

Brian Kelly, a well-known advocate for bitcoin recently said on the Fast money show for CNBC that the gains that bitcoin is currently making could be extended to a full year following the halving.

In an interview earlier this week on the 12th of November on the show, Brian said that the spike in high-profile and institutional investors that are moving towards cryptocurrency and specifically, bitcoin, could indicate an exciting and bullish future for the king coin.

“There's a lot of scope for upside. Most of the gains that come are the year after the halving, and we’re seven months into that year after the halving, and Bitcoin’s doing what it should do.”

The host, Melissa Lee said:

“So there could be five more months here of pretty good upside.”

Bitcoin has had a very exciting week this week after it surpassed the $16,000 key resistance level following what was a very exciting time during the United States presidential election. Bitcoin has seemingly come out on top with many people now predicting big things in the short and long-term for bitcoin.

You can see his interview here:

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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How South Africa's scam history has made its investors stronger

How South Africa's scam history has made its investors stronger

South Africa is a country with great diversity and has a rich history which attracts about 2.5 million tourists into the country every year. But what’s more appealing about South Africa is its gold mining industry which is one of the aspects of the country that makes it very attractive to foreign investors. And it comes as no doubt that South Africa has the most industrialized economy in the continent as a whole. Besides natural endowments history and tourism, South Africa is one of the countries in Africa where the activities of the financial market are widespread. Due to its attractiveness, many individuals have fallen victim to scammers in the country in an attempt to make a decent investment. 

According to numerous reports, many investors and visitors have been scammed by South African citizens or even scammers who are established in South Africa because it is a hub for foreign investment. Scammers go a long way to defraud people and it is always almost genuine, which makes it difficult for the investors to notice. Some examples of these activities involve scammers posing as airport staff, engaging in unexpected chats, stealing from backpacks or carry-on bags, or even fake taxi drivers that take passengers to unknown destinations to defraud them. These scammers go as far as telling passengers to get a receipt for some kind of taxi voucher, bus card, or airport receipt, take them to the ATM to get that non-existent voucher, and then try to see you type your PIN before creating a distraction to snatch and run with your card. 

It does not only end at that the height of this was when several South African investors lost over $13 million to a bitcoin scammer. This is one of the most thought out scams in the history of forex scams in South Africa and there are several more of this magnitude or even worse. 

In this case, the mastermind of the bitcoin scam, Willi Breedt who was the CEO of Vaultage Solutions now defunct, allegedly scammed several investors of over 227 million rands ($13.35 million) and escaped to another country when things got messy. It all started when the scammer abruptly severed all connection and communication between his clients and going on vacation. After several reports from his investors to the authorities, he was under criminal investigation, during which he closed shop, it is alleged that he went into hiding as the investigations went on. Reports by local news outlets indicated that Breedt claims that his troubles started in 2019 when the crypto market slumped. However, the truth of the matter is that the markets immediately recovered sufficient enough for him to recover all his losses. Because the slump was short-lived as it occurred only between one day and recovered the next so all losses were recovered. But Breedt claims to have been bankrupt by the slump and went into hiding to avoid his clients. Investigations on his bank account uncovered fraud as some of his investors stated that they had about $3.15 million in their account and the next day there was nothing and Breedt was nowhere to be found.

The members of the crypto community in South Africa have not been amused by Breedt’s actions because it reflects back to them as untrustworthy. But what’s more, is that it has been so common in the country that investors are becoming more accustomed to it. Although scamming is still prevalent in the country, investors are becoming more cautious when investing in South Africa. They have been scammed so much so that they are now stronger and more aware of scamming activities in the country, making it an even harder task for scammers to cook up any story because they’ve seen all and heard all.

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Former Australian senator Cory Bernardi expresses his interest in BTC

Former Australian senator Cory Bernardi expresses his interest in BTC

Quick take

1 minute read

  • Former senator, Cory Bernardi, of the Australian Senate is getting ready to join bitcoin. 
  • During his time in office, Bernardi was a rather controversial figure and he is known for his views against any attempt to bring in anything that could bring the country even slightly to the left-wing.

Former senator, Cory Bernardi, of the Australian Senate is getting ready to join the bitcoin space. During his time in office, Bernardi was a rather controversial figure and he is known for his views against any attempt to bring in anything that could bring the country even slightly to the left wing.

Earlier this year in January, he stepped down from the Senate in order to form his own political party known as the Australian Conservatives.

Publishing a tweet earlier this week, the former member of the Australian Senate showed his interest in the bitcoin industry highlighting that he has been a fan of the asset for around two years now.

Bitcoin is one of those assets that you either love or hate. Many people from all over the world have given their views on the asset. Warren Buffett is one of the many people who has been one to criticise the leading cryptocurrency but he isn’t the only one. People like Buffett believe that bitcoin is an asset without value and that it is too risky to invest in but according to the former senator, the king coin is similar to any other asset, and the risks involved in it are just the same as the others.

Interestingly, he further added in the tweet that bitcoin is the millennial version of gold.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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BTC/USD Eats Turkey on Profit-Taking Dive, But 15808 Safe for Now: Sally Ho's Technical Analysis 26 November 2020 BTC

BTC/USD Eats Turkey on Profit-Taking Dive, But 15808 Safe for Now: Sally Ho's Technical Analysis 26 November 2020 BTC

Bitcoin (BTC/USD) gained back some lost ground early in today’s North American session as the pair appreciated to the 17433.81 area after trading as low as the 16200 level in the European session, following profit-taking from the 18915.48 area during the Asian session.  Traders pushed the pair to a fresh multi-year high around the 19500 area this week before selling pressure pushed BTC/USD lower.  The pair stopped short of testing the 15808.49 area during the move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 100-bar MA (4-hourly) at 17299.22 and the 200-bar MA (Hourly) at 18422.78.

Technical Support is expected around 17657.16/ 17306.03/ 16304.69 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

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