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Ethereum Price Technical Analysis – Can ETH/USD Hold This?

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Key HighlightsETH price is correcting lower, but it is holding the $900 support area against the US Dollar. There is a short-term bearish trend line forming with resistance at $920 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair is now below the 100 hourly simple moving average and $950, which are likely to act as resistances.

Ethereum price is moving lower further against the US Dollar and Bitcoin. ETH/USD has to hold the $900 support level to remain in a bullish trend.

Ethereum Price Support

There was a nice upside move above $940 this past week in ETH price against the US Dollar. The price traded above the $950 level, but it could not test the $1,000 level. A high was formed at $970 from where a downside correction was initiated. It moved down and broke the 38.2% Fib retracement level of the last wave from the $868 low to $970 high.

There was also a break below the $925 support and the 100 hourly simple moving average. However, the downside move was protected by the $900 support. A low was formed at $895 and the price started an upside correction. It traded above the 23.6% Fib retracement level of the last decline from the $970 high to $895 low. However, the price failed to gain upside momentum above the $930 level and the 100 hourly SMA. It failed to break the 50% Fib retracement level of the last decline from the $970 high to $895 low.

On the upside, there is a short-term bearish trend line forming with resistance at $920 on the hourly chart of ETH/USD. As long as the pair is below the trend line, $930 and 100 hourly SMA, it could continue to struggle.

Hourly MACD – The MACD has moved into the bearish zone.

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Asian Altcoin Trading Roundup: Top Cryptocurrency is Polymath

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A Sunday pull-back is becoming almost regularity in the crypto markets and a red Monday morning is the result.  Bitcoin made it to a weekly high of $11,300 before cooling off a little and retreating back to $10,600 where it currently trades. The correction has taken all of the altcoins with it and most are in the red during the Asian trading session this morning.

To find one that is performing well we need to leave the top 25 once more and go further down the chart. Nothing really stands out in the top 50 which takes us all the way down to 71 and a token called Polymath which is trading 16.3% higher. This newcomer to the altcoin world is trading at $1.35 up from $1.11 yesterday while all others are in decline.

Polymath is a securities based token which aims to allow them to be migrated to the blockchain. According to the white paper, which has only been published this month, Polymath provides a decentralized protocol for trading security tokens enabling s individuals and institutions to authenticate their identity, residency, and accreditation status to participate in a wide range of security token offerings. Using the network organizations and companies can launch ST20 tokens that are already automatically legally compliant and regulated security tokens. Tickets for their up and coming Polycon security token conference in the Bahamas have already sold out.

Interest in POLY, which has only really been traded on the Kucoin exchange since early February, spiked on the 12th. Current market capacity sits at $318 million and there are 1 billion POLY tokens available with 239 million currently circulating.

The only cryptocurrency in the top 25 showing a slight gain this morning is Ethereum Classic, up 0.75% to $34.39. 

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Bitcoin Price Technical Analysis for 02/19/2018 – Aiming for Extension Levels?

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Bitcoin Price Key Highlights

Bitcoin price is still trending higher after breaking above a few key resistance levels. Bulls are gaining traction and allowing price to move above an ascending trend line on the 1-hour time frame. Price appears to have completed its pullback from the recent rally and could head up to the extension levels next.

Bitcoin price looks ready to resume its rally after a brief pullback to a short-term rising trend line.

Technical Indicators Signals

The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. This confirms that the uptrend is more likely to continue than to reverse. Also, the 100 SMA lines up with the ascending trend line to add to its strength as support.

Stochastic is also pulling up from oversold levels to signal a return in bullish pressure. RSI is on the move down, though, so bears might still have enough energy for another test of support or perhaps a breakdown.

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Bitcoin Cash Price Technical Analysis – BCH/USD Breaks Short-term Support

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Key PointsBitcoin cash price after a nice upside move found sellers near the $1,600 level against the US Dollar. There was a break below a short-term bullish trend line with support at $1,520 on the hourly chart of BCH/USD (data feed from SimpleFX). The pair is currently holding the $1,400 support, but it may remain under pressure for some time.

Bitcoin cash price lost momentum above $1,600 against the US Dollar. BCH/USD is currently correcting lower and is showing a few bearish signs.

Bitcoin Cash Price Resistance

There were decent gains this past week above $1,500 in bitcoin cash price against the US Dollar. The price traded above the $1,550 and $1,600 levels. However, the price was not able to maintain momentum above $1,600 and started a downside move. A high was formed at $1,617 and later the price corrected below $1,550. It also moved below the $1,400 support and the 100 hourly simple moving average.

Moreover, there was a break below a short-term bullish trend line with support at $1,520 on the hourly chart of BCH/USD. Later, the pair recovered and moved above the $1,400 level and the 100 hourly SMA. It corrected above the 23.6% Fib retracement level of the last decline from the $1,617 high to $1,381 low. However, the upside move failed near the $1,500 level. BCH price could not move above the $1,500 level and is currently trading in a bearish zone.

The 50% Fib retracement level of the last decline from the $1,617 high to $1,381 low was tested recently. It means the price completed an upside correction and it may decline once again towards or below $1,400. Below $1,400, the price mat decline towards $1,320.

Looking at the technical indicators:

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Lisk Price Dominating the Market Again: Testing New-Record?

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When you read that the cryptocurrency values have survived one of the major dips of its history, it brings positivity and confidence to an enthusiast. While the market has entered a recovery-phase with many cracks going on, there are coins that are doing very well.

As it happens very often, during the weekends the leading digital currencies enter a sort of consolidation mode while various lower in market cap altcoins take turns to shine. As it happened during 7-8 of Jan, Lisk [LSK] is performing exceptionally leading with gains of 12.00 percent in the last 24-hours against the US Dollar.

 

Even though the Lisk price is close to its all-time high of $37.80, it remains to be seen if a new record can be set. While the current gain is rather impressive, the previous all-time high earlier this week was rejected pretty quickly. It is evident upward momentum in the cryptocurrency world is hard to come by, especially when it comes to sustaining the price trend for more than a few days

The upward movement that is taking place for almost two weeks now, has brought just slight below 200 percent advantage of the pair LSK/USD. Despite the fact that altcoins usually follow the leaders [in market cap Bitcoin #1] steps of surge or decrease against the US Dollar, LSK is leading the BTC market for 4.26 percent.

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Chicago Trader Steals Over $2 Million in Bitcoin and Litecoin Cryptocurrency

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A Chicago trader is facing up to 20 years in prison for stealing over $2 million in Bitcoin and Litecoin cryptocurrency from his employer.

Most 24-year-olds would be quite happy to be attached to a new cryptocurrency unit for a major financial entity. That’s not a bad career path for someone who previously worked as a cryptocurrency trader in South Korea before joining Consolidated Trading LLC to become an assistant bond trader in July 2016. A new department looking to dive into the burgeoning crypto world is a great stepping stone for moving up. That is unless that person is a degenerate gambler. Such is the case of Joseph Kim, who stole over $2 million in Litecoin and Bitcoin cryptocurrency from his employer.

Stealing Begins Almost Immediately

The cryptocurrency group was created by Consolidated in September 2017, and Joseph Kim joined the unit sometime during that month. He had his own personal cryptocurrency accounts, which he informed his employer of, and he was told to cease all personal trading to avoid a conflict of interest.

However, Kim transferred 980 litecoins (worth $48,000) on a weekend shortly after joining the new unit. When a supervisor found out, Kim said he transferred the coins to a “personal digital wallet for safety reasons” due to issues he was having with Bitfinex, the cryptocurrency exchange in Hong Kong. He then said that the coins had been transferred to a Consolidated wallet (which was untrue).

In November, the trader then sent 55 bitcoins (value of $433,000) from Consolidated into an unknown account. When confronted on this transfer, Kim said that the transfer had been blocked and that he was taking steps to unblock it. He later sent back 27 bitcoins into the corporate account, leaving 28 in his possession.

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Swiss Financial Regulators Publish “Pretty Reasonable” ICO Guidelines

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FINMA, the Swiss Financial Market Supervisory Authority, yesterday published guidelines explaining to organisers and investors how existing financial legislation would be applied to initial coin offerings. The document also details the criteria by which the regulator will judge each fundraising effort. The aim is to dispel uncertainty in the space and should allow investors and organisers alike to act with greater confidence.

A press release accompanying the document stated that FINMA felt the clarity the official guidelines would provide were “important given the dynamic market and the high level of demand”.

Amidst the guidance, the Swiss regulators state that each ICO will be judged independently. There will be no “catch-all” regulation. They admit that “financial market law and regulation are not applicable to all ICOs”. Therefore the Swiss agency will consider the manner in which the tokens issued will be used when deciding which existing legislation should govern a coin offering.

They define tokens in three ways: Payment tokens, utility tokens, and asset tokens.

Payment tokens have no other purpose other than to provide a means of payment. They do not interact with specific applications in any unique way. For the purposes of regulation, they must comply with existing anti-money laundering legislation. They will not be treated as securities.

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Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens

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It is likely that most altcoins will complete a 3-bar bull reversal pattern known as a morning star right at key support levels in the weekly chart.

LTC, Lumens and EOS/USD will lead the charge and offer wonderful buy opportunities next week.

My advice is for buyers to wait for meaningful entries next week and not to buy at peaks at current prices.

Let’s have a look at these charts:

XLM/USDXLMUSD Daily Chart for February 17, 2018

In the coming sessions, trading Lumens is pretty much straight forward.

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7 speakers of Blockchain & Bitcoin Conference Thailand

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Cryptocurrency investments, blockchain trends and industry development vectors will be discussed at Blockchain & Bitcoin Conference Thailand 

On March 6, Bangkok will host a large-scale international conference on blockchain, cryptocurrency and ICO – Blockchain & Bitcoin Conference Thailand. The event will be held at the five-star hotel Pullman Bangkok Grande Sukhumvit.

Leading experts of the cryptocurrency sector from Thailand, as well as international experts from other countries will speak at the conference. Names and topics of the seven speakers are already known.

Joseph Tsou is the managing director at BlockEx. He has extensive experience in financial services and he is also a fintech expert. The topic of his presentation is “Basic concepts of blockchain technology and a review of the cryptocurrency sector: trading, investments and ICO.”

Vladislav Sapozhnikov is a co-founder and CEO of a decentralized cryptocurrency exchange Deex.Exchange. This expert in digital assets will talk about why decentralized ecosystems that use BitShares platform are the future of blockchain technology.

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Asian Altcoin Trading Roundup: Top Cryptocurrency is Neo

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The Asian holiday weekend is upon us and markets are looking good. Most digital assets are in the green and Bitcoin is holding steady at over $10k again. Altcoins are once again being pulled up by their big brother and, as expected, one is standing out from the crowd.

According to Coinmarketcap NEO is the only altcoin trading in double digit gains during this morning’s Asian session. Up to $140 from $121 this time yesterday, Neo is having a solid run and is 13% higher. All other cryptocurrencies are marginally up on yesterday’s levels. Neo has been one of the few altcoins that has shown a lot of resilience during the big dip on February 6. It dropped to a low of $67 and has since made gains of over 100% over the past ten days. Neo’s all-time high came in mid-January when it reached $195.

Often referred to as the Chinese Ethereum, Neo has made steady progress over the past three months. It does not have the wild fluctuations that other altcoins experience and is one of the more stable cryptocurrencies. Neo is a platform, similar to Ethereum, which enables developers to build decentralized applications on. It is being used for a number of ICOs and new projects in the region.

The community is very active and developer conferences are held often across the world. The launch of a new decentralized NEO and GAS powered exchange called Neon is likely to boost prices further however the project is still in pre-ICO stage. As with most cryptos, Neo is traded predominantly in South Korea which has over 30% of the global volume. Market capacity currently sits at $8.9 billion and Neo is ranked at number 7. Over $264 million has been traded in the past 24 hours.

Other altcoins enjoying solid gains during the Asian session are Monero, Litecoin, OmiseGO and Verge.

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