Bitcoin Has Met a Familiar Resistance Again
Bitcoin rose dramatically in the past few days, pushing past several barriers until it got to the 4th arc on this setup on the daily chart: As you can see, it was this same arc pair that stopped the last major advance in early January of this year. This setup is sized from the start of the current rally in August 2015 and the spike top 3 months later at almost $500. You really can’t make a bigger useful setup from this chart. The question that always arises is: “Will it get through the arc quickly this time?” Regretfully, there aren’t many clues on the chart. It does not bode well that the....
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Those familiar with torrents will undoubtedly be aware of - what was generally considered the king of the peer-to-peer space - Pirate Bay. Those familiar with Pirate Bay will also undoubtedly be familiar with the fact that the company was shut down during the latter half of last year. Further, those familiar with the shooting down of Pirate Bay will also be familiar with the process of trawling the net for a decent proxy. Cue OldPirateBay.org. OldPirateBay.org has quickly become the go to proxy for wondering torrenters everywhere, having grown to more than 1 million users a day. Who runs....
As expected in the last column, Bitcoin sold off after touching the 5th arc on the 2-hour chart, falling from $1050 top $1005. However, the fall was less than expected, and then the asset reversed and pushed its way through the arc pair. For those following along at home, the buy signal was given at $1028 on the 2 hour chart. On the 4 hour chart, this is what recent price action has looked like when seen through the prism of an Andrew’s pitchfork: For those not familiar with the pitchfork, the bold blue line is the “0 line”. It stopped price from advancing 3 times in a row. But the 3rd and....
Perhaps the surname Winklevoss sounds familiar to you. Maybe even the Winklevoss twins is more familiar. They're the duo that sued Facebook's Mark Zuckerberg for allegedly ripping off their 'ConnectU' social network at Harvard. Well, they're avid Bitcoin investors and see it's promising much like you may. They appeared this morning on CNBC to discuss bitcoin, which is something you may find interesting. The report describes bitcoin as Gold 2.0. Very interesting stuff, indeed. [via CNBC]
One has introduced smart contracts and is the fabric of decentralized finance, the other is... a meme. In just over five years since it launched, Ethereum introduced the world to smart contracts, decentralized finance, yield farming and non-fungible tokens, and has long stood just behind Bitcoin as the second-largest blockchain project by market capitalization.Dogecoin (DOGE) is a meme cryptocurrency which has provided no innovation, has no real raison d'etre, and is only popular because it became the plaything of a famous multi-billionaire during the past 12 months.So naturally, as one....
New allocations from big business come as momentum behind the latest altcoin rally seems to shift away from familiar names. Bitcoin (BTC) touched $58,000 on Thursday as the latest phase of its comeback seemed to come at the expense of altcoins.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin claws back lost limelightData from Cointelegraph Markets Pro and TradingView showed BTC/USD’s return to battle familiar resistance near old all-time highs on Thursday.The move builds on strength from earlier in the week. As Cointelegraph reported, Wednesday saw $57,000 and 5% daily....