May 4, 2019

Bitcoin (BTC) Price Dips Remain Attractive To Bulls

bitcoin price surged above the $5,800 level and traded to a new 2019 high against the US Dollar.
The price traded as high as $5,837 on Kraken and recently corrected below the $5,600 level.
This week’s followed two bullish trend lines are intact with support near $5,500 and $5,480 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair remains supported on dips and it is likely to bounce back above $5,650 in the near term.

bitcoin price surged above the $5,700 and $5,800 resistance levels. BTC corrected lower recently, but dips remain attractive to the bulls near $5,500 in the near term.

bitcoin Price Analysis

The past two days were very bullish on bitcoin price above the $5,500 resistance against the US Dollar. The BTC/USD pair broke the $5,650 and $5,700 resistance levels to trade to a new 2019 high. The pair even surged above the $5,800 level and settled well above the 100 hourly simple moving average. The price traded as high as $5,837 and recently started a downside correction. As a result, it broke the $5,650 level and the 50% Fib retracement level of the recent wave from the $5,372 low to $5,837 high.

However, there are many supports near the $5,550 and $5,500 levels. The 61.8% Fib retracement level of the recent wave from the $5,372 low to $5,837 high seems to be acting as a strong support near $5,540. More importantly, this week’s followed two bullish trend lines are intact with support near $5,500 and $5,480 on the hourly chart of the BTC/USD pair. If the price dips again, the bulls are likely to defend the $5,500 support area. The last line of defense is near $5,480, and the 76.4% Fib retracement level of the recent wave from the $5,372 low to $5,837 high.

On the upside, an initial resistance is near the $5,650 level. The next key resistance is near $5,650 and a connecting bearish trend line on the same chart. A successful close above $5,650 may call for a fresh increase above $5,700 and $5,750.

Looking at the chart, bitcoin price is trading in a strong uptrend above $5,500 and $5,480. Therefore, any dips remain attractive and the price could bounce back above $5,700 in the near term. The main hurdle is near the $5,800 level, above which the price is likely to test the $6,000 resistance area.

Technical indicators:

Hourly MACD – The MACD is currently placed heavily in the bearish zone, with a few positive signs.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD dipped sharply below the 50 level, but stable near 35.

Major Support Levels – $5,550 followed by $5,500.

Major Resistance Levels – $5,600, $5,650 and $5,750.

Published at Sat, 04 May 2019 15:38:06 +0000

You might be interested in …

March 15, 2017

Re: [ANN][GAMEUNITS] 🏆 THE NEXT GENERATION GAMING CURRENCY | CSGO GAMBLING SITE 📈

Re: [ANN][GAMEUNITS] 🏆 THE NEXT GENERATION GAMING CURRENCY | CSGO GAMBLING SITE 📈 We are please to announce a Docker container for Gameunits. Docker allows 3rd party developers a streamlined process of building on the […]

January 6, 2018

FLUX: Restructure the Gaming Ecosystem with Blockchain Technology

Much has been said about ICOs during the course of 2017. Are ICOs key to a successful startup journey? Yes, ICOs are now a huge part of the fundraising landscape, with a similar impact as Venture capital funding. While some beg to differ about the future of the crowdfunding phenomena, one can’t deny the impact it has had on many startups this year.

A successful ICO can say much about the innovative nature of a startup. For instance, a majority of presale participants are industry professionals and seasoned industry investors. This means the product is valuable at face value and can find mainstream applications. That’s seriously easy math.

Case in point is blockchain based FLUX, which announced its token sale on December 10, 2017, and set to end on December 31, 2017. Earlier, the gaming ecosystem successfully closed its presale with over $2 million worth of investment in BTC, ETH, USD, and EUR to successfully gaining recognition as one of the most promising blockchain projects in the gaming industry. The success can be attributed to the implementation of a unique investment system called SICS (Special Investment Control System), which is a personal escrow plan for every person who invests $500 thousand. The plan is a key stepping stone to ensure that all funds collected during the ICO round are correctly applied in accordance with the initial agreement.

FLUX’ concept revolves around creating a unique global gaming ecosystem where players, developers, traders, and the gaming community can convert time spent into gaming token FLUX COIN. The platform also creates a competitive gaming atmosphere that offers a marketplace for games, online streaming, and trading in-game items. Using blockchain technology, gamers, developers and investors will get rewards for matchmaking competitions, trading items on the marketplace and even crowdfunding their own ideas within the platform, in a transparent and automated way. This makes FLUX a good extension to the over $105 billion annual revenue – gaming industry.

The foundation of the FLUX ecosystem is based on introducing support platform which will allow players to compete in games from a list of available games, and earn opponent’s money after a successful win. With the use of smart contracts, the system will be capable of supporting a secure and transparent matchmaking process. Players can use BTC, ETH, LTC, EUR, or Visa/MasterCard payments etc to finance their gaming endeavors online. This will in turn guarantee the player descent earnings, given his/her gaming skills on a safe platform backed by a decentralized system. The platform will be available for Windows, MacOS, Linux, Windows Phone, iOS, and Android.

The 1st stage of the token sale is currently underway, while the 2nd stage will take place during the 1st quarter of 2018. The 1st stage started with a 25% bonus during the first hour, followed by 20% for the remaining part of the day. The bonus gradually reduced to 15% on the first week, 10% during the second week and 5% in the final week. The tokens will be available for purchase against payments in ETH (Ethereum), BTC (bitcoin), USDT, DASH, ETC, LTC, ZEC, VISA, MasterCard, USD, EUR, and SHAPESHIFT. Of the total amount raised, the FLUX team will control only 15% of the amount to give room for SICS plan holders.

More information about the platform and ongoing token sale is available at – http://flux.fund/

The post FLUX: Restructure the Gaming Ecosystem with Blockchain Technology appeared first on NewsBTC.

March 31, 2017

Judge Finds Federal Jurisdiction in Bitcoin Investment Lawsuit

Judge Finds Federal Jurisdiction in bitcoin Investment Lawsuit A U.S. District Court judge has ruled that investors in a bitcoin-farming operation can continue with their federal suit, which saw around $1.3 million of bitcoin invested. […]