Crypto
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Traders use this classic trading pattern to determine when to ‘buy the dip’
Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel. An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on candlestick charts. Ascending channel basics An ascending channel is formed when the price action can be contained within two upward sloping parallel lines. First, the main trendline is drawn by joining the two reaction lows. Then a parallel line is drawn by connecting two reaction highs. This line is called the channel line. The main trendline is the support area from where the price rebounds and the channel line act...
Traders identify $51K as the key level for Bitcoin to overcome in the short term
The crypto market is back in high spirits on Sept. 2 after Bitcoin price briefly tapped the $50,000 level in the early morning trading session. The move above the key resistance level came as industry insiders hinted that major companies and institutional investors hinted that recent Bitcoin purchases would soon be disclosed in public documents. Additional bullish news came after Vast Bank announced that it had become the first U.S. bank to allow customers to buy, sell and hold Bitcoin (BTC) directly in their checking accounts. BTC/USDT 1-day chart. Source: TradingView Here’s what traders and analysts are saying about what to expect next from Bitcoin now that it is trading near the psychologically important $50,000 level. Bitcoin finally broke out of resistance This latest move from Bitcoi...
Twitter to allow users to add BTC and ETH addresses to profiles: Screenshots
Twitter appears to be developing functionality that enables users to add Bitcoin and Ethereum addresses to their profiles. The latest update is believed to be a part of Twitter’s Tip Jar feature — which was introduced in May this year — and adds to reports which surfaced earlier this week that the firm would enable Bitcoin (BTC) tipping for content creators. Italian mobile developer and self-described “leaker” Alessandro Paluzzi tweeted screenshots on Sept. 3 which showed BTC and Ethereum (ETH) wallet address options in the settings toolbar of the app version of Twitter. #Twitter is working to allow you to add your #Bitcoin and #Ethereum address to your profile to receive tips via the Tip Jar feature ℹ️ It is not necessary to link a Strike account to add them to your profile....
XRP price chart ‘bull flag’ puts the next bullish target at $1.50
The price of XRP edged higher on Sept. 2 as traders assessed Ripple Labs gaining an edge over the United States Securities and Exchange Commission in an ongoing courtroom battle. The XRP/USD exchange rate surged 4.74% to reach $1.296 for the first time since Aug. 23. The pair’s climb appeared alongside a spike in trading volume on the four-hour chart, confirming traders’ intent to support the upside move in the coming sessions. XRP has shot to go higher this week, reflecting a similar bullish move in other top digital assets. CrediBULL Crypto, an independent market analyst, noted that the Ripple blockchain token could reach $1.50 to $1.60 next, citing impulse buying sentiment near the bottoms of almost every major cryptocurrency, including Bitcoin (BTC). $XR...
ShapeShift open-sources its upcoming version 2 platform code
As part of its ongoing decentralization efforts, non-custodial cryptocurrency exchange ShapeShift announced Thursday that it has open-sourced the code of its upcoming version two platform, giving developers the opportunity to contribute to the iteration process. ShapeShift’s v2 code repository is now available on Github, making it easier for developers to download it to their local drives. “This is a great step in our ongoing efforts to open source and involve the community in iterating on the first comprehensive, multichain, community-built interface,” said Josh Foreman, engineering workstream lead for ShapeShift DAO. The company also announced that open-source developers can attend biweekly community calls held on ShapeShift’s Discord channel. The meetings will feature demos and di...
NFT projects and high yield opportunities back Zilliqa’s strong rebound
One of the most important factors in the long-term success of a blockchain platform is having an active community of supporters and developers that work to showcase the capabilities of the network by creating new products and interacting with projects on the protocol. Zilliqa (ZIL) is one project that saw its price surge throughout August as developers built out its ecosystem and made improvements to the protocol. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.05 on July 20, the price of ZIL proceeded to rally 145% to an swing high at $0.1244 on Aug. 24 ZIL/USDT 4-hour chart. Source: TradingView Three reasons for the bullish momentum seen in ZIL include a rapidly growing ecosystem that is attracting new participants, the launch of nonfungible...
Cryptocurrencies now legally recognized under commercial law in Texas
Two bills aimed at furthering the adoption of cryptocurrencies and blockchain are now law in the state of Texas. Texas House Bills 4474 and 1576, passed by both chambers in the state legislature in May and signed into law by Governor Greg Abbott in June, officially took effect on Sept. 1. H.B. 1576 establishes a blockchain working group in Texas, while H.B. 4474 amends the state’s Uniform Commercial Code to recognize cryptocurrencies under commercial law. Lee Bratcher, president of the Texas Blockchain Council, said in a July interview that H.B. 1576 could “set out a road map” for Texas to invest in and take advantage of blockchain technology, while the other bill better defines the security interests for Bitcoin (BTC) and other cryptocurrencies so “institutions can feel more comfort...
SEC Chairman shares crypto regulation recommendations with EU Parliament
The SEC Chair pointed out that crypto and fintech have the potential to be as big as the internet in the 1990s United States Security and Exchange Commission (SEC) Chairman Gary Gensler stated that the $2 trillion cryptocurrency market was too large to exist on its own and must be incorporated within regulatory frameworks for its survival. Appearing before the European Union Parliament’s Committee on Economic and Monetary Affairs, Gensler emphasised how crypto and fintech are playing a role in globalising economic flows, stating that the technologies might be as big as the internet in the 1990s. The former professor of Blockchain Technology at the Massachusetts Institute of Technology explained that cryptocurrency was a truly global asset, pointing out that “It has no borders or boundaries...
Twitter could roll out a Bitcoin tipping service soon
Jack Dorsey has been heavily involved in the Bitcoin ecosystem in recent years and could be set to launch another feature soon Social media giant Twitter is reportedly working on a new feature that would make it easier for people to tip using BTC. The tipping feature is designed to make it easier for people to make micropayments via the social media platform. According to a report by MacRumors, Twitter’s beta update suggests that the social media giant is testing the feature. However, Twitter is yet to make any public announcement regarding the service or how it intends it to work. Popular developer Alessandro Paluzzi posted a picture of how the Bitcoin tipping feature will look. The report explained that the Bitcoin tipping service would use the Lightning Network (LN) to carry out sm...
Litecoin price analysis: LTC targets $200 after passing resistance at $180
The general cryptocurrency market is rallying again after stagnating for the past few days The cryptocurrency market has resumed its rally after days of stalling, with Bitcoin crossing the $50,000 threshold once again. This performance has trickled down to the entire market, with Ether, Cardano, XRP, Binance Coin and several other leading cryptocurrencies all up by more than 5% in the past 24 hours. Litecoin is also performing excellently after rising by more than 5% in the last 24 hours. LTC surpassed the 23.6% Fib level at $178 to break past the $180 resistance mark. Litecoin could look to test further resistance levels over the coming hours if the current market conditions persist. The short-term performance of the broader market is promising and market participants are still opti...
British tween earns almost $400K on NFT sales without a bank account
A 12-year-old boy from London reportedly earned nearly $400,000 by selling a series of nonfungible tokens (NFT) during the school holidays. In an interview with Geo.tv, Benyamin Ahmed shared his excitement about being able to make money online by selling NFT artworks “without having a bank account.” Ahmed’s artwork caught attention on Twitter and eventually went viral. Ahmed used his school holidays to create and tokenize digital pictures of whale emojis branded as “Weird Whales,” which were then sold in the form of NFTs online. Previously, the child had tokenized a Minecraft-inspired art set, which did not sell on the market due to low popularity. Imran Ahmed, the father of the young boy, reportedly taught Benyamin and his brother to code from the age of six. Despite his son being unable ...
Crypto exchange OKEx launches DeFi hub and NFT marketplace
Global crypto exchange OKEx is ramping up its decentralized finance (DeFi) efforts with the introduction of the DeFi Hub, a decentralized digital asset ecosystem that includes a marketplace for nonfungible tokens (NFTs). According to a Sep. 2 announcement, the crypto spot and derivatives exchange launched its DeFi Hub with two initial tools, NFT Marketplace and DeFi Dashboard. The NFT Marketplace enables users to mint their own NFTs to sell with a royalty fee that is set by the creator. Users would be able to import NFTs from other supported platforms like OKExChain to the OKEx NFT Marketplace, where they can buy, sell or trade nonfungible tokens “with zero fees paid out to OKEx.” The new DeFi Hub requires a connection with the OKEx Wallet, a multi-chain decentralized wallet offered ...
