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Bitcoin Enters China Thanks to Binance & WeChat

Investors on the Binance network are now able to purchase cryptocurrencies such as bitcoin using local payment processors like AliPay and WeChat via the Binance platform. This comes from the CEO of the platform himself, Changpeng Zhao. With the confirmation of AliPay and WeChat implementation by Zhao comes around a month after the announcement of Yi He, the co-founder of Binance, who revealed the fiat-to-crypto over-the-counter trading platform to release in China. Furthermore, the addition of AliPay and WeChat options come at a time when the launch of Binance’s P2P trading functionality for Android users. This would likely eliminate jurisdictional...

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Bitcoin (BTC) Can See Some Near Term Upside But Bearish Setup Remains Intact

Bitcoin (BTC) could see some short term upside as the price is consolidating and in a good position to test the 38.2% fib retracement level from current levels. That move might also coincide with a test of the previously broken ascending channel. In my opinion, for the price to begin a strong downtrend, we have to see a retest of the previously broken trend line support turned resistance. A rejection at that trend line will be key to the price changing direction but at the moment, the RSI and the Stochastic RSI on the 4H time frame indicate that there...

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Sally Ho's Technical Analysis 12 October 2019

Bitcoin Bitcoin (BTC/USD) was slightly weaker early in today’s Asian session after the pair traded as low as the 8226.00 area late in yesterday’s North American session. Market sentiment improved this week after traders lifted the pair back above the 8000 figure to its strongest level since 24 September following BTC/USD’s acute decline below the psychologically-important 10000 figure. The pair spiked to the 8826.00 level during yesterday’s European session after Stops were elected above the 8692.32 area.  One indication of improved sentiment this week emerged when buying pressure kept the pair above the 8473.75 area, representing the 23.6% retracement of...

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Google’s Quantum Supremacy Won’t Have an Impact on BTC According to Antonopoulos

A long-time and prominent member of the crypto space has just confirmed that Bitcoin is now going to have ‘zip’ to fear from the latest advances in quantum computing from the world’s biggest search engine, Google. Speaking in a Q&A session yesterday, Andreas Antonopoulos vanished everyone's fears on the recent success for Google’s quantum computing that could have a knock-on impact to cryptocurrency like bitcoin. “What is the effect on mining and the cryptocurrency world in general? Zip, bupkis, nada, nothing really happens,” he said. Reports came out last month saying that Google had announced it has used a quantum...

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Bitcoin (BTC) Could Surprise Traders Once Again

Bitcoin (BTC) and other cryptocurrencies seem to have just begun their downtrend but I do not expect the price falling straight to the bottom of the descending triangle just yet. I think we are likely to see an attempt to test the previously broken trend line support as resistance again. If we look at the ETH/USD chart, it becomes even clearer that this trend line is likely to be tested. RSI on both the 4H chart for BTC/USD as well as ETH/USD has now found support and is expected to see some short term upside from here. There is a...

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