bitcoin price recovered recently and tested the $6,375 resistance area against the US Dollar.
There is a significant bearish trend line in place with resistance at $6,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair must break the $6,365, $6,375 and $6,400 resistance levels to trade higher in the near term.
bitcoin price is still above the $6,250 support against the US Dollar. However, BTC/USD is facing a crucial resistance near the $6,375-6,400 area.
This past week, there was a below the $6,300 support in bitcoin price against the US Dollar. The BTC/USD pair traded close the $6,200 support where buyers emerged. As a result, the price started a decent recovery and moved above the $6,250 and $6,300 resistance levels. The upside move was positive as there was a break above the $6,340 level as well. Besides, the price surpassed the 61.8% Fib retracement level of the recent decline from the $6,429 high to $6,201 low.
However, the upside move stalled near the $6,375 resistance and the 100 simple moving average (4-hours). Moreover, the 76.4% Fib retracement level of the recent decline from the $6,429 high to $6,201 low acted as a resistance. To the topside, there is a significant bearish trend line in place with resistance at $6,400 on the 4-hours chart of the BTC/USD pair. At the outset, there is a contracting triangle forming with resistance near $6,360. Therefore, the price needs to surpass the to trade higher.
Looking at the , BTC price is clearly facing a solid hurdle near the $6,375 and $6,400 levels. If buyers fail to clear these, there could be a bearish reaction back towards the $6,250 or $6,200 support.
Looking at the technical indicators:
4-hours MACD – The MACD for BTC/USD is about to move back in the bearish zone.
4-hours RSI (Relative Strength Index) – The RSI is currently flat near the 50 level.
Leading digital goods company Gameflip is extending its marketplace onto the blockchain — and incentivizing publishers to follow suit.
[Note: This is a press release.]
San Jose, California—November 24, 2017—Hot on the heels of its successful pre-ICO last month, , the veteran Silicon Valley gaming marketplace, has now announced new dates for its much-anticipated ICO: December 4, 2017, through January 29, 2018.
Gameflip’s digital goods marketplace has 2+ million gamers with millions of USD in transactions each month. With FLIP, its digital token and ecosystem, Gameflip is extending its proven marketplace onto the blockchain — creating significant value for gamers and game publishers.
exceeded its pre-sale goal — achieving 112% of its goal with hundreds of people from around the world participating to support the goal of creating a seamless decentralized digital marketplace for gamers. The veteran team has modified its ICO dates to start on December 4, 2017, and end on January 29, 2018, to best meet the needs of its growing community and align with current market trends.
Why are global gamers, industry veterans, and blockchain enthusiasts flocking to support FLIP? One: gamers will be able to use FLIP on the existing Gameflip platform — creating value and utility for gamers immediately. Two: publisher incentives are built into FLIP, and they are designed to maximize the growth of the network.
Providing a liquid marketplace for digital gaming goods represents a $1 trillion opportunity for the gaming industry. Not surprisingly, others are also trying to build an ecosystem to support these transactions across games. But a key differentiator for Gameflip is its focus on — and existing connections with — game publishers.
JT Nguyen, CEO of Gameflip, said:
Publishers are the key to success in this market. Our competitors are trying to build marketplaces on the blockchain without an established platform behind them, an experienced team among them, or an outward focus on publishers guiding them — and that’s simply impossible.
Gameflip has great incentives for publishers to put their digital goods onto the blockchain. It works like this: publishers adopt the use of FLIP and integrate Gameflip’s SDKs with their own games. They receive a generous commission for every blockchain transaction of those goods that they decide to place onto the blockchain — that is, for every subsequent transaction of those digital goods, they will have a commission, forever. This opens an entirely new revenue stream for publishers, which promotes quick adoption. In addition, Gameflip has reserved 40% of the total supply of FLIPs to incentivize publishers by allowing them to sell these FLIPs to their community and keep up to 100% of the proceeds.
This publisher-centric model is the product of decades of combined experience in the gaming industry. Prior to founding Gameflip, the company’s core team built the global games publishing business Aeria Games from the ground up, cultivating a community of 40 million gamers.
Nguyen said:
Our strategic partners, advisors and core team have longstanding connections in the gaming and startup communities. That means we have insider access to the top publishers and developers in the world.
Gameflip’s ICO target is to raise $5 million (soft cap) to extend its already successful digital goods marketplace onto the blockchain and to onboard a handful of innovative publishers in a beta period before proceeding with top global publishers. The additional capital, together with the company’s existing financing from Silicon Valley VC firms, will let Gameflip quickly scale and expand its platform.
about Gameflip, its token sale, and its expert team.
About Gameflip
Ijji, Inc. (doing business as “Gameflip”) is a corporation based in San Jose, California, USA, and funded by Silicon Valley venture capital funds and other investors. The Gameflip management team has decades of combined experience in the gaming industry, as game developers and publishers in prior capacities, and now as digital goods marketplace operators. The Gameflip digital goods marketplace has more than 2 million registered users and 500,000 monthly actives.
Legal Disclaimer
The FLIP token sale is only available to purchasers who are: (i) not “U.S. Persons” (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) and not purchasing for the account or benefit of any U.S. Persons and (ii) eligible to purchase FLIP tokens under the applicable laws of each such purchaser’s jurisdiction.
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