Now Is the Time to Advance the Decentralized Web

Bitcoin price achieved $450 (Bitstamp) and 2900 CNY (BTCC) overnight. Since then price has entered a pullback that appears incomplete at the time of writing. A strange advance that is not yet surging above the long-term resistance it has just broken (grey trendline). The expectation was that the slow push higher would turn parabolic on the successful push through resistance at $430 (Bitstamp). In the 4-hour timeframe, RSI is reverse diverging to the December high and the advance must now push through a supply level that has been in effect since November of last year. Although the slow....

Bitcoin price continues correcting as the prospect of advance dawns on the market. The general hesitancy to join trend is understandable given this chart’s perverse tendency to fake-out on apparent trending moves. The melodrama of decline in the Chinese exchanges has proven to be just that – every time. They cannot sell lower because there is nothing for the bears down there. The potential reversal at $630 looms but seems less likely as 1day MACD crosses above its zero line at the time of writing. Yet, the situation remains: price advance is constrained by the $630 level and the MACD....

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....

Bitcoin price trend remains up. Advance should retake $630 in the coming days, but a correction may precede a push higher. Price continues pushing higher above its 200-period moving average in the 4hour candle chart (red). The chart is primarily bullish since we see the stochastics rising from oversold (magenta circle, top-right), but an ambiguous indication warns of potential downside as they’re flashing a red divergence dot. This represents a downside risk that traders should be prepared for: price may correct down to the 200MA near $587 before resuming advance. If price can push above....

Bitcoin financial services startup Circle Internet Financial has issued at least one user a $50 credit in order to help refund that customer for possible cash advance fees he may have incurred using the service. Circle, which is currently undertaking a closed test of its platform, appears to be responding to criticisms regarding the charging of cash advance fees, a common headache experienced by those attempting to buy bitcoin with a credit card. As previously reported by PandoDaily, the company was made aware of the cash advance fees and, at the time, promised to investigate the issue. In....