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1. 20/04/2019 09:10
Bitcoin Clings on Above Key Support Amid Signs of Price Pullback

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  • Bitcoin suffered a rising wedge breakdown, or bearish reversal, on the hourly chart earlier today. The bearish view, however, has been neutralized by the quick bounce from the key support near $5,170.
  • Acceptance below $5,170 would confirm a head-and-shoulders breakdown on the hourly chart and open the doors to $5,000.
  • A close below $4,912 on Sunday would validate the previous week’s doji candle and allow a deeper price pullback.
  • Bitcoin could challenge the recent high above $5,450 if sellers again fail to keep prices below $5,200.

Bitcoin’s (BTC) three-day run of slight gains is showing signs of exhaustion on the short-term technical charts, yet strong support below $5,190 has meant a pullback has remained elusive – so far.

The leading cryptocurrency is currently trading largely unchanged on the day at $5,250 on Bitstamp, having gained 3.4, 0.6 and 0.9 percent on Tuesday, Wednesday, and Thursday, respectively.

The gains invalidated Monday’s bearish outside reversal candle, which had called for a deeper drop below $4,900. Further, price closed above the stiff resistance of the 100-candle moving average (three-day chart) yesterday, signaling a continuation of the rally from April 2 lows below $4,200.

That several long-term indicators have recently turned bullish seems to have strengthened bullish expectations.

This is evident from the fact that bitcoin has established new support just below $5,200 over the last 72 hours, despite persistent price-negative developments like bearish patterns and indicator divergences on the shorter-duration charts.

Hourly chart

On the hourly chart, BTC dived out of a rising wedge pattern at 01:00 UTC today, confirming a bearish reversal.

The follow-through to that bearish setup, however, has been bullish. As seen above, prices have bounced up from $5,180 and are currently looking to re-enter the rising wedge.

Notably, the $5,180–$5,170 range has put a floor under bitcoin’s price for the second time in the last 72 hours.

The cryptocurrency had been feeling the pull of gravity on April 17, courtesy of the bearish divergence of the relative strength index. The pullback, however, ran out of steam around $5,170 with prices rising to $5,325 yesterday.

As a result, if the bears can pull off a break below $5,170, it may invite strong selling pressure and open the doors for a deeper price pullback, possibly to $5,000.

The case for a price pullback looks stronger if we take into account the fact that acceptance below $5,170 would also confirm a head-and-shoulders breakdown – a bullish-to-bearish trend change.

Sellers, however, would need to act quickly, as another strong bounce from levels below $5,200 could entice buyers and lead to a sustained move toward the recent highs above 5,450.

Weekly chart

BTC created a doji candle last week, signaling bullish exhaustion, as discussed earlier this week. As a result, Sunday’s (UTC) close is pivotal.

The buyer exhaustion signaled by the doji would gain credence if the price settles below the candle low of $4,912 on Sunday, possibly leading to a deeper correction next week.

A bullish close above $5,466 (doji high) would strengthen the long-term falling channel breakout seen earlier this month and open the doors to $6,000.

That looks unlikely in the short-term, though, as prices are struggling to find acceptance above a number of key moving averages (MAs) lined up in $5,200–$5,500 range.

2. 19/04/2019 20:32
Bitcoin melonjak cukup signifikan

Memberpasti merasa beberapa waktu lalu harga Bitcoin melonjak cukup signifikan. Ada beberapa alasan di belakangnya, salah satunya adalah kemungkinan mendekati Halving Day.

Apakah yang dimaksud dengan Halving Day?
Halving Day adalah sebuah siklus di mana reward per blok penambangan Bitcoin akan berkurang setiap 4 tahun sekali, atau setiap 210.000 blok yang sudah tertambang. Adanya Halving Day ini dapat berdampak pada kenaikan harga aset digital khususnya Bitcoin.

Semoga bermanfaat!

3. 19/04/2019 09:06
Binance Reveals Timeline for BNB Cryptocurrency’s Move Off Ethereum

Cryptocurrency exchange Binance has launched its new custom blockchain, Binance Chain, which will support its $3 billion BNB cryptocurrency that currently runs on ethereum.

Announced Thursday, the exchange said it will activate BNB on the new network on April 23, after which holders of the token are encouraged to migrate their balances to the new network. Old ethereum-based tokens will be destroyed as new BNB tokens are created on Binance Chain, the company said, in order to maintain a constant supply across both networks.

The initial total supply for BNB tokens will be 200 million, 48 million of which will be frozen and 11,654,398 of which will be burned on Binance Chain.

On April 23, Binance Chain Explorer and Web Wallet will be open to the public and Binance.com will be able to help users with the mainnet swap. Users will be able to provide a Binance Chain address for BNB withdrawal requests, with the withdrawal then acting “as a mechanism to convert ERC-20 BNB tokens into BEP2 BNB tokens.”

The firm said if users want to keep the ERC-20 version of BNB tokens, they would need to withdraw it into an ethereum wallet before April 23. After that, Binance.com will no longer support the withdrawal of ERC-20 BNB tokens. “Please note that withdrawn ERC20 BNB tokens will only have temporary usage, as all BNB tokens will be migrated to Binance Chain,” Binance said.

Binance noted that the timeline of the above events is subject to change.

Binance first revealed the development of Binance Chain in March 2018. At the time, the exchange also said that it would essentially shift its BNB token to its own native blockchain.

In a recent live ask-me-anything (AMA) chat on Twitter, however, Binance CEO Changpeng Zhao explained:

“Binance Coin on the Binance Chain is the same as the Ethereum coin on the Ethereum network. You will have to use it to pay for network transactions, as gas.”

4. 18/04/2019 10:33
AOA mengalami kenaikan sebesar 6,8%
Selamat pagi member, di pagi hari ini AOA mengalami kenaikan sebesar 6,8% diikuti dengan DAX. Sementara XDCE mengalami penurunan
5. 17/04/2019 11:36
Jangan lupa hari ini untuk nyoblos ya!
Semangat pagi.

Hari ini BTT mengalami kenaikan 10% diikuti oleh Ignis dan CRO. 

 

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Latest News

20/04/2019 09:10
Bitcoin Clings on Above Key Support Amid Signs of Price Pullback
View Bitcoin suffered a rising wedge breakdown, or bearish reversal, on the hourly chart earlier today. The bearish view, however, has been neutralized by the quick bounce from the key support near $5,170. Acceptance below $5,170 would confirm a head-and-shoulders breakdown on the hourly char... 
19/04/2019 20:32
Bitcoin melonjak cukup signifikan
Memberpasti merasa beberapa waktu lalu harga Bitcoin melonjak cukup signifikan. Ada beberapa alasan di belakangnya, salah satunya adalah kemungkinan mendekati Halving Day. Apakah yang dimaksud dengan Halving Day?Halving Day adalah sebuah siklus di mana reward per blok penambangan Bitcoin akan be... 
19/04/2019 09:06
Binance Reveals Timeline for BNB Cryptocurrency’s Move Off Ethereum
Cryptocurrency exchange Binance has launched its new custom blockchain, Binance Chain, which will support its $3 billion BNB cryptocurrency that currently runs on ethereum. Announced Thursday, the exchange said it will activate BNB on the new network on April 23, after which holders of the token... 
18/04/2019 10:33
AOA mengalami kenaikan sebesar 6,8%
Selamat pagi member, di pagi hari ini AOA mengalami kenaikan sebesar 6,8% diikuti dengan DAX. Sementara XDCE mengalami penurunan 
17/04/2019 11:36
Jangan lupa hari ini untuk nyoblos ya!
Semangat pagi. Hari ini BTT mengalami kenaikan 10% diikuti oleh Ignis dan CRO.