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Blockchain World Forum · London

Blockchain World Forum · London
The future of Blockchain is here! Blockchain World Forum will explore the opportunities and challenges associated with Blockchain. The event is a initiative in creating an interactive platform for the leading technologists, entrepreneurs, regulators, investors, academics and financial institutions in the emerging Blockchain industry. Presented in a series of top-level keynotes, interactive panel discussions and solution-based case studies with a focus on learning and building partnerships in the emerging Blockchain space, Blockchain World Forum will explore the industries that are set to be disrupted the most by this new technology, including; legal sectors, financial services, insurance, energy, music, government, real estate and more. Within the conference, there will be the exhibition of technological and business application innovations for the industry. TECHNOLOGY & BUSINESS TOPICS Sessions will be rated on how tech vs biz focused they are intended allowing you to pick the right content based on your background. BLOCKCHAIN EXHIBITION The bitcoin exhibition will showcase latest bitcoin innovation technologies, solutions and services for the industry. BLOCKCHAIN WORLD AWARDS The Blockchain World Awards are the unique celebration of the drive, innovation and hard work in the bitcoin technology ecosystem. WHY SHOULD YOU ATTEND BWF is where the bitcoin professionals create their own program from a wide range of high level options including conference sessions, workshops, live show, case demos and mentoring clinics. The leading speakers, presenters and mentors took to the stage, with the conference sessions drawing consistently strong attendance right across the themed agenda. • Discuss on regulation around bitcoin, crypto currencies like bitcoin, ethereum & ICO’s.• Hear from inspirational keynote speakers and the industry panelists who have taken their businesses to the next level• Meet with the potential partners, customers, investors, and advisors who can help your business to flourish• Share knowledge with fellow industry leaders and experts in the conferences• Watch scores of in-depth product presentations in the showcase theater• Benefit form on site advisory clinics with market experts• Network with the entire bitcoin ecosystem WHO WILL YOU MEET Unique in its scale, positioning and format, BWF sits at the cross section of start-ups, incumbent tech providers, entrepreneurs and the investor community. It is a true ecosystem event. • Service Providers• Operators• Platform Providers• Investors• Software Providers• Hardware Manufacturers• Data Scientists• FinTech Professionals• Business Analysts• M2M Platorm Providers• Developers• Blockchain Start Ups• Banking and Financial Services• Healthcare Companies• Energy Companies• P2P Lenders• Payments• Water Companies• Venture Capitalists• Computer Security Companies• Industrial Automation Companies• Industry Associations• Government• Others THE BLOCKCHAIN INNOVATION AWARDS The Blockchain Innovation Awards honor the highest achievements from the global bitcoin industries, celebrating teams and individuals who are blazing a trail within the sector. Reinforce client relationships – remind your customers and prospects that you are the best choice of supplier; Stand out among your peers – let the market see that you are head and shoulders above the competition; Make headlines on an international scale – international press coverage ensures the industry will know about your win; Network with the industry’s most influential people – with C-level representation from the most important operators in the region there is no better informal networking forum; Reward your team – recognize and celebrate their achievements. PHOTO GALLERY • Sponsorship / Exhibition For information on sponsorship and exhibition opportunities at the event, please click here or send your email to sponsors@thebwf.com • Blockchain Innovation AwardsLearn more about awards selection process, please click here or send your email to awards@thebwf.com • Media PartnershipFor media partners related inquiries, please click here or send your email to partners@thebwf.com Blockchain World Forum · Dubai | March 21-22, 2019http://db.thebwf.com Blockchain World Forum · Shenzhen | May 23-24, 2019http://sz.thebwf.com Blockchain World Forum · Santa Clara | July 25-26, 2019http://sc.thebwf.com Blockchain World Forum · Singapore | September 19-20, 2019http://sg.thebwf.com Blockchain World Forum · London | November 21-22, 2019http://ld.thebwf.com
starting on 2019-11-21 08:00:00

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Bitcoin Price Analysis: Breach of Local Top Could Lead Push to $5000

Bitcoin Price Analysis

Another day, another all-time high for the BTC-USD markets. bitcoin has been on a strong bull run since its bottom in the $1800s and, despite many technical indicators, has pushed to new highs, week after week. With the international uncertainty surrounding the North Korean conflict and the recent news of Dalia Blass’s recent hire at the SEC, there is plenty of bullish news to fuel the push. However, the current BTC-USD all-time high resides in the lower $4800s, which many market analysts say is the local top of this run.

Figure_1 (4).JPGFigure 1: BTC-USD, 6-Hour Candles, Bitfinex, Recent Bull Fibonacci Extension

Typical Fibonacci Extensions are 127% and 160% of the total length of the bull run. $2600 (0% retracement value shown above) marks the breakout point of the current bull market BTC-USD is experiencing. There have been 4 attempts made to break the $4480 values (100% retracement value shown above). Due to the prolonged effort to break these values, we can make the argument that $4480s are the local top values; any values that breach beyond the $4480s are extensions of the bull run.

A week ago, BTC-USD made a test of the lower $3600s in a move that would ultimately bounce and push us to our current all time high. However, the move from the local bottom to the $4800s is currently forming a reversal pattern called a “Rising Wedge.” Although a Rising Wedge has a relatively high rate of failure, it is still something BTC-USD traders should keep an eye on:

Figure_2 (4).JPGFigure 2: BTC-USD, 2-Hour Candles, Bitfinex, Rising Wedge

The Rising Wedge is characterized by higher highs and higher lows that converge about an ascending value. For anyone trading reversal patterns, it is paramount to confirm the breakout before entering a position. In low confidence patterns like Rising Wedges, we must wait for a breakout below the wedge and for strong trading volumes to increase the likelihood of success. Some evidence that points toward a possible reversal is the RSI and MACD divergence.

Divergence is essentially an indication that there is potential bullish momentum loss in the market. It’s important to note that bearish divergence does not guarantee a market reversal and it does not mean the market will pullback. The only thing we are permitted to take away from bearish divergence is the argument that the market has an increased probability of either consolidation or a market pullback. In strong bull markets, bearish divergence can be seen for hours, days and even weeks.

Should the Rising Wedge break to the bottom, we can calculate the expected price move as follows:

Figure_3 (5).jpgFigure 3: BTC-USD, 2-Hour Candles, Bitfinex, Rising Wedge Price Target

In our case, should the Rising Wedge break to the bottom, we can expect an approximate $500 move downward. However, should the pattern fail to break to the bottom, we can expect a price upward to test the 127% Fibonacci Extension values around $5000 before encountering any significant resistance.

Summary:

  1. Global uncertainty surrounding North Korea’s aggression plus ETF optimism give further evidence to support a continued bullish market.

  2. A potential Rising Wedge could potentially cause a $500 BTC-USD market retracement. The pattern has yet to be confirmed.

  3. Should the Rising Wedge fail to break to the bottom, we can expect a further push toward the 127% Fibonacci Extension values of $5000.

Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

The post Bitcoin Price Analysis: Breach of Local Top Could Lead Push to $5000 appeared first on Bitcoin Magazine.

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