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| October 23, 2018

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Migrants Break Fence at Guatemala-Mexico Border

October 19, 2018 |

Some 3,000 Central Americans traveling in a mass caravan broke through a Guatemalan border fence and streamed by the thousands toward Mexican territory Friday, the AP reports, defying Mexican authorities’ entreaties for an orderly migration and President Donald Trump’s threats of retaliation . Arriving on the Mexican side of a…

Europe Offers Britain an Olive Branch to Break Brexit Impasse

October 17, 2018 |

The European Union is prepared to give the U.K. an extra transition year to negotiate a trade agreement in an effort to break a stalemate in Brexit negotiations. What’s News Europe

Disney pulls the plug on its proposed luxury hotel in Anaheim, citing the loss of a tax break

October 11, 2018 |

The Walt Disney Co. has canceled plans to build a 700-room luxury hotel near its Anaheim resort, citing the city’s elimination of a tax rebate agreement that would have saved the media giant $ 267 million over 20 years.

The cancellation of the hotel — what would have been the fourth at the resort…

L.A. Times – Business

U.S.-China Tensions Break Out in Beijing

October 9, 2018 |

Secretary of State Mike Pompeo exchanged testy words with his Chinese counterpart as a rapid deterioration of bilateral ties threatens to jeopardize future cooperation over North Korea. What’s News Asia

Markets Update: Crypto-Traders Patiently Wait for a Break Out

October 4, 2018 |

Markets Update: Crypto-Traders Patiently Wait for a Break Out

Cryptocurrency prices have remained in a consolidated pattern over the last two weeks with a few ups and downs, but have remained fairly stable in recent days. The overall market capitalization of all 1900+ cryptocurrencies is valued at $ 221 billion with close to $ 12 billion worth traded over the last 24-hours.

Also read: Bitpay Phases Out Crypto-Debit Cards for European Cardholders

Crypto-Markets Are Meandering Around as Traders Wait for a Break Out

Digital asset traders are patiently waiting for a break-out of some sort, in any direction, but it’s safe to say a lot of people are waiting for that bearish-to-bullish reversal. Today, just before the weekend, cryptocurrency trade volumes globally have ticked up and prices are meandering along with 2-3 percent swings at times. Bitcoin core (BTC) is hovering around $ 6,596 at the time of publication with a $ 114 billion total market valuation. BTC is the top traded coin by trade volume, as BTC markets are capturing $ 3.8 billion in daily trades. The second highest valued capitalization held by Ethereum (ETH) is around $ 22.9 billion with each ETH trading for $ 224 per coin. Ripple (XRP) is being swapped for $ 0.53 and the currency’s valuation is awfully close to Ethereum’s market cap at $ 21.3 billion. Eos (EOS) markets are up 3.5 percent today as one eos is being exchanged for $ 5.75 per coin.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
Top ten cryptocurrencies October 4, 2018.

Bitcoin Cash Market Action

Bitcoin cash (BCH) markets are up only 0.9 percent today, and over the last seven days the currency has lost 8.3 percent. Today BCH is being traded for roughly $ 516 per coin and the overall market capitalization is $ 8.99 billion. With a 24-hour volume of around $ 452.9 million, bitcoin cash markets hold the sixth highest trading volume throughout the crypto-economy. The top five exchanges today swapping the most BCH include Lbank, Hitbtc, Binance, Okex, and Huobi. Tether (USDT) is the currency traded with BCH the most today as USDT captures 36.5 percent of the market. This is followed by BTC (34.1%), ETH (19.4%), USD (4.6%), and KRW (1.8%).

Markets Update: Crypto-Traders Patiently Wait for a Break Out
Bitcoin Cash (BCH) 10-4-18 3:20 pm EDT.

BCH/USD Technical Indicators

Looking at the daily and 4-hour BCH/USD charts on Bitfinex and Bitstamp show bears have managed to lower the price of BCH to get in on some cheaper coins. On the 4-hour charts, both the RSI (-36) and Stochastic oscillators show markets are remaining in oversold territories at press time. One thing that’s worth noting is the two Simple-Moving-Averages (SMA) are about to cross hairs and this could mean an upside trend reversal is in the cards.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
BCH/USD Bitfinex daily 10-4-18.

The 200 SMA is still slightly above the 100 SMA trendline showing for now the path towards the least resistance is still the downside. The 4-hour MACd shows room for improvement and Bollinger bands are extra tight. Looking at order books we can see lots of opposition at the current vantage point up until $ 550 and then again at $ 580. On the backside, if bears try and claw the price down more then there are thick foundations at $ 480 all the way to $ 460.

Markets Update: Crypto-Traders Patiently Wait for a Break Out
BCH/USD Bitfinex 4-hour 10-4-18.

The Verdict: Traders Uncertain of a Bullish Reversal or Downside Break

Of course, there are a lot of analysts who believe crypto prices will grow bullish again this year and some think BTC can hit $ 20K again. However this week on CNBC the CEO of crypto investment firm Galaxy Digital, Michael Novogratz said he doesn’t think BTC will go above all-time highs in 2018 and continues, “I don’t think it breaks $ 9,000 this year.” During an interview this week the cryptocurrency analyst Nikola Lazić forecasted a downturn in prices.

“I am expecting a breakout from the downside because the horizontal support has already been broken today, the red triangle’s support has been broken in the past when the price found support on the symmetrical triangle’s uptrend line which was respected in the past,” explains Lazić.

The analyst continues:

If that last support gets broken then we are definitely seeing a lower low which would be below $ 5,767 (£4,458).

Overall markets, in general, have been consolidating and traders are simply waiting for the next spike or drop depending on which way they are betting. It’s safe to say enthusiasts and traders are still uncertain where markets will take them during the last quarter of the year.

Where do you see the price of Bitcoin Cash and other coins headed from here? Let us know in the comment section below.

Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”

Images via Shutterstock, Trading View, and Satoshi Pulse.

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The post Markets Update: Crypto-Traders Patiently Wait for a Break Out appeared first on Bitcoin News.

Bitcoin News

Stocks break four-day losing skid as Apple, Amazon climb

September 27, 2018 |

After four days of modest losses, Apple and Amazon led the U.S. stock market to small gains on Thursday. Internet and healthcare companies rose while mining companies fell with metals prices.

Apple and Amazon are the two most valuable U.S. companies, and analysts said each stock should keep climbing….

L.A. Times – Business


Drake Takes Break from Tour to Visit Young Heart Patient in Chicago

August 20, 2018 |

It’s unclear if KiKi loves Drake — but one thing’s for sure … he definitely loved one little girl’s “KiKi Challenge,” ’cause he made a point to visit her in Chicago. Drake stopped by the Lurie Children’s Hospital of Chicago Saturday to meet up…

Can consumer loans ever be so expensive they break the law? The California Supreme Court says yes

August 13, 2018 |

California’s high court has ruled that interest rates on consumer loans can be so high that they become “unconscionable” and, therefore, illegal — a decision that could upend the state’s subprime loan market.

In a unanimous opinion released Monday morning, California Supreme Court justices said…

L.A. Times – Business

In Break From Precedent, Trump’s Moves Aggravate Turkey’s Currency Crisis

August 12, 2018 |

President Trump’s decision to double steel tariffs on Turkey as its government battled a currency collapse marked a departure for the U.S. from how it traditionally handles financial turmoil. What’s News Asia

Walmart Cashier Uses Her Break to Right a Wrong

August 11, 2018 |

Painting someone’s nails surely qualifies as work. But that’s how Walmart cashier Ebony Harris spent her break during a shift last week after learning a woman with cerebral palsy had been refused service at a nail salon within the Walmart in Burton, Mich., because her hands shake. “They denied me…