bitcoin has been trending higher inside an ascending channel and has found support at the mid-channel area of interest. Bulls look ready to take price up to the resistance around the $8500 level and beyond.
Applying the Fibonacci extension tool on the latest correction move shows that the 38.2% level lines up with the channel resistance and the swing high. Stronger bullish momentum could take it up to the 50% extension at $8686 or the 61.8% extension at $8888. The 76.4% extension is located at $9138 and the full extension is at $9542.
The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the uptrend is more likely to resume than to reverse. However, the gap is narrowing to indicate slowing bullish momentum. Still, the 100 SMA is holding as dynamic support at the moment.
Stochastic is turning down from overbought levels, though, so a return in bearish pressure may be due. In that case, another test of the mid-channel area of interest or even the channel bottom could be possible. RSI has some room to climb before hitting overbought conditions so buyers could stay for a bit longer and allow a move to the top of the channel.
According to cryptocurrency hedge fund manager Dan Morehead, CEO of Pantera Capital, bitcoin is showing a rare buy signal. He in an interview with :
Something that’s growing that fast hardly ever gets below its 200-day moving average. When it does, it’s a very good time to buy.”
Morehead went on to say “It’s 65 percent below its high, you don’t get that opportunity very often.” Sentiment in the industry has considerably improved since the news of Soros Fund Management prepping to place bets in the space broke out. Note that Q2 has historically been bullish for bitcoin as well.
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Zeepin, an up-and-coming project out of China, will be visiting Seoul for the very first time on April 23rd at the Le Meridien Hotel. Come and celebrate the team, headed by Zhu Fei and Shenbi Xu, as they present on a number of topics related to their project including the technical structures of Zeepin and their new dApp, Galaxy. Leo Cai, an investment partner with Zeepin from the Feel Free Fund, will also give a presentation about the financial aspects of the project.
One of the largest blockchain social communities in Korea, Crypto of Korea, will be helping to support the event. They can be found easily online at their website or Facebook and Twitter. Additionally, Korean Youtube star, Spunky, will be live streaming the event.
Standard entrance fee for this event is 5,000krw, but members of the Crypto of Korea community have free entrance. The entrance fee gets you in the door to take in the auspicious networking possibilities, Galaxy-related activities, presentations, and a generous gift bag valued at 27,000krw.
The Le Meridien Hotel, located near Shinonhyeon Station exit 4, is one of Gangnam District’s finest hotels. It offers a luxurious European experience in the heart of Seoul. The Zeepin event will be held in the bright, lively, and comfortable Cezanne Room.
Listed as ZPT, Zeepin is the innovative solution for creators, distributors, and manufacturers to protect the value of copyright and boost productivity and growth using revolutionary Blockchain technology. Zeepin is an ideal blockchain project for creators of all types from architects and designers to performers and artists. The blockchain protects copyrights and increases exposure for creators’ work in an efficient and innovative way.
Any creator out there who has ever worried about protecting their passion from infringement should be interested in this event. You will learn the ins and outs of how easy it can be to garner full protection via Zeepin for the intellectual property and physical property you work so hard to create.
CryptoGalaxy is an entertaining mobile dApp soon available for IOS and Android users. Everyone can discover the universe, own a planet, and dig valuable mythic crystals that can later be converted to GALA token that fuels the Galaxy. This will be adding a new scene for Zeepin’s token- ZPT.
Galaxy represents the first dApp to be finalized on the ZPT platform. This looks to be one of many dApps from the platform as user base grows and utilizes the platform in the vast amount of ways that are possible.
Audiences from all backgrounds are welcome to come and enjoy this celebration. There’s no need to feel uncomfortable about language barriers if you don’t speak English since there will be a Korean team to help with communications and interpretations.
We hope that you come and enjoy yourself, meet like-minded individuals, and share some thoughts about blockchain and cryptocurrency in general. Invite your creative friends and co-workers to learn all about Galaxy and Zeepin at the upcoming event.
Sign up for the event at the meetups —
Zeepin —
Crypto of Korea —
Spunky/Bitgosu —
