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Sally Ho's Technical Analysis 21 April 2019

Bitcoin Bitcoin (BTC/USD) weakened early in the Asian session to test an important level, trading as low as the 5260.64 area, just below the 5265.70 area that represents the 50% retracement of the 7402.50 – 3128.89 area. We have written about the significance of this level extensively, including in our 20 April 2019 analysis. Traders are curious to see if BTC/USD again challenges the 5349.70 area, representing the 76.4% retracement of the 5488.00 – 4901.99 range. Above this area, the 5403.82 level represents the 61.8% retracement of the move from 6810.00 to 3128.89. As noted yesterday, technicians are eager to...

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Margin Trading Platform Bexplus Gives You 10 BTC to Trade BTC Futures Contracts

Margin trading is more common with Forex than cryptocurrencies. But during the one and a half year long “Crypto Winter”, with tight margins and stagnant markets across most cryptocurrency, there is a huge demand to trade leveraged cryptos.   Why Use BTC Margin Trading?   As we know that the volatility of the crypto market is huge, cryptocurrency can increase or decrease 15% or even 50% within a single day. With margin trading, as long as you bet on the right price movement direction, you will make profits. Another advantage to margin trading is leverage. For example, if you have...

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Bitcoin (BTC) NVT Ratio Points To Major Sell-Off Any Time Now

Bitcoin (BTC) is trading well above the 200 day moving average and there is the possibility of a golden cross coming to fruition if the price manages to breakout from here. However, the NVT indicator on the daily time frame now points to increasing risk of a major sell-off in the near future. This indicator has historically been very efficient at predicting sell-offs. This is because for something like Bitcoin (BTC) with arguably no intrinsic value, its perceived value depends on its use. As the Network Value to Transactions ratio reaches a certain level, we have a sell signal which...

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eToro Launch New Cryptocurrency Exchange

Earlier this week, the popular eToro retail platform announced the launch of its new cryptocurrency exchange. eToroX will allow users to trade in currency pairs to buy several different cryptocurrencies. The eToro chief executive officer, Yoni Assia, has spoken on the launch “Just as eToro has opened up traditional markets for investors, we want to do the same in the tokenized world. We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance.” Traders that use the Gibraltar-based exchange will have access to eight stablecoins, all of...

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Swiss Food Manufacturer Gets Involved With Blockchain

Most of you will have heard of Nestlé. The Swiss food and drinks company has its products sold in stores all across the world so you will have more than likely have picked up a chocolate bar or two made from Nestlé. Recently, Nestlé is embracing the ’farm to fork’ movement it will share product information with the consumers through a blockchain platform. This is a first for Nestlé. Nestlé has teamed up with the Carrefour supermarket to give shopper in France access to blockchain data for its Mouline instant mashed potato product. The firm has said that this move...

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