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Sally Ho's Technical Analysis 3 May 2019

Bitcoin Bitcoin (BTC/USD) continued to add to recent gains during today’s Asian session as the pair traded as high as the 5417.00 level after trading as high as 5422.99 during yesterday’s North American session. Stops were elected after the pair crossed above the 5403.82 level, representing the 61.8% retracement of the 6810.00 – 3128.89 range and the pair’s strongest print since 25 April 2019. Early in the Asian session, Bids emerged around the 5387.57 level, representing the 61.8% retracement of the move from 5650.01 to 4963.00. If this level holds, it is an important indication the pair may look to...

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Crypto-Rewarding Blogs Increasing in Popularity

A former CTO of Ripple’s, Stefan Thomas launched a closed beta testing of his Coil startup headquartered in San-Francisco last year. For those that don’t know, Coil is a public venue for bloggers enabling them to earn XRP. Since the beta launched last summer, around a thousand 1,000 users have been paying around $5 on a monthly basis for the service. Unlike other platforms such as Apple Music, coil automatically pays bloggers in XRP depending on how popular their content is. As reported by CoinDesk: “Coil.com cooperates with Stronghold, a platform that enables converting crypto to USD. The final target...

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Gene Simmons: “Bitcoin is volatile, but it goes up.”

We’ve all heard of KISS. They were perhaps one of the most notorious rock bands of the 1970s with such hits as ‘I Was Made For Lovin’ You’ and ‘Rock and Roll All Nite’. Bear with me here as we are going somewhere with this. The former frontman of the infamous rock band, Gene Simmons has been speaking with Anthony Pompliano about Bitcoin. Simmons may be known to promote many things but he doesn’t seem to go near anything until he has an ‘emotional connection’ to it, as he once told CNBC. The rumours suggest that Bitcoin is near death...

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Bitcoin Volatility Index (BVOL) Points To High Probability Of A Sluggish Rally

Bitcoin (BTC) is struggling to rally towards $5,800-$6,000. While most traders are expecting a big move towards this strong resistance zone, the price action clearly shows that BTC/USD is not ready for such a move. However, now the Bitcoin Volatility Index (BVOL) also corroborates what is going on with the price and suggests that we might see a sluggish rally in the days and weeks ahead but it will happen nonetheless. This rally towards the resistance zone at $5,800-$6,000 is important because the price has to either break it or face rejection at this zone in order for the market...

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Grayscale Investments Call for BTC to Replace Gold

In 1971, a movement to decouple gold from the world economy began. Now, a similar movement has returned to the forefront with the It Is Time to Drop Gold campaign launched by Grayscale. Yesterday, 1st May, Grayscale Investments launched a provoking mission focused on challenging investors to reconsider their traditional beliefs about gold investing and instead embrace Bitcoin as a superior alternative. The CEO of Digital Currency Group, Barry Silbert said” “Bitcoin has superior physical properties and market utility.” Grayscale’s social media ad campaign to #DropGold has based on the premise that the asset is obsolete as a store-of-value in...

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