Regardless of all these strong fundamentals ranging from CoinBase to Star Buck's "Acceptance of Bitcoin" custody services through International Exchange, Bitcoin (BTC) is not finding any support. As a matter of fact, it seems likely that sellers could drive prices below $ 6,800 this week. Naturally, when this happens, our long position will no longer hold.
From the news
- You go back to the bankruptcy proceedings of Mt Gox and while Koyabashi, the trustee who holds more than 250,000 BTCs, will not liquidate the BTCs as before, investors will not have a subheading way to receive compensation in altcoins. In recent details, it was revealed that the payments would be made in Bitcoin (BTC) and Bitcoin Cash (BCH) through the cryptocurrency exchange accounts of the victims. In addition to this, there is money that Koyabashi has as income after eliminating BTC in the first and second quarters of this year. That, the details of August shows could be moved to "monetary creditors". All in all, the decision is in progress, the final decision may be late, but everything will be dusted by February 2019.
- In the meantime, after their hacks, deposits and withdrawals of Bitcoin (BTC) and other nine were taken back BitHumb coins. Bithumb is a major South Korean cryptocurrency trade and this news is an injection of liquidity that stimulates morale in the birth market.
[Re-Notice] Recovery of deposit / withdrawal services for 9 types of criovalevanzioni before
• List of cryptocurrencies (9 in total)
: BTC, ETH, ETC, XRP, LTC, BCH, ZEC, QTUM, MITH
• Open Time: 4, August (Saturday) 2018 19:00 PM
▶ https: // t.co/iAJP9YkE0m
– Bithumb (@BithumbOfficial) August 4, 2018
- Ai purpose of mass adoption, there is a new CoinBase Woo Commerce plug-in that allows WP websites to accept cryptocurrency payments. The Woo Commerce plugin allows users to purchase goods or services and settle in Bitcoin, BCH, Litecoin or Ethereum (ETH) depending on their preferences. This plugin for Woo Commerce is free and open source.
Great. Here is the link to their blog. https://t.co/beqXL23Ckv
– 🌜Crypto Goddess🌛 (@ crypt0goddess) 3 August 2018
- Contrary to the "trend" news, Star Bucks still has to accept Bitcoin as payment. It is in the public domain that they have a partnership with Microsoft and are actually analyzing cryptocurrencies. Also, in the coming days Star Bucks will collaborate with International Exchange (IE) for the operation of Bakkt. Together, they will work on a platform that will allow easy spending of Bitcoin and other digital resources in a "global network".
Bitcoin Technical Analysis (BTC)
Too much, Bitcoin prices (BTC) do not they have created enough momentum to justify further disadvantages.
From the graphs, it is clear that the bulls are finding resistance to the key resistance line and what After the closing of last week, the candlestick candle events swallowed bearish of those schemes double-bar bearish swallowing at the beginning of May and March
So, if past events affect future price movements, we could very likely see further devaluations this week – after all, bears are in charge. days, what we have to do is s get on with them and execute the transactions accordingly.
Breaking below the upper limit of our buy zone was on August 4th with the swallowed candle and high volume. Not only did we witness conclusive pauses, but there was a volume peak that accompanied the lowest minimum.
Now, as illustrated in our latest analysis of Bitcoin (BTC), we have dropped our purchase plans from $ 6,800 to $ 7,200.  However, for now, my suggestion is to wait and see the approach knowing that there is a clear double bar reversal pattern to resistance in the weekly chart.
In our case, any interruption below $ 6,800 signifies a bear trend and I will recommend selling our main support line with a stop at the 5 August highs and the first targets at $ 6,000
Disclaimer: The opinions and opinions expressed are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.