Price Analysis 5/15: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM – BTC Ethereum Crypto Currency Blog

The action in altcoins has become coin specific, meaning, traders should remain with those that are in an uptrend as they are likely to follow Bitcoin if it moves higher.

A month after the first halving, Bitcoin (BTC) moved up by 7% but following the second halving, the price slipped by 10% in a month. This suggests that if history were to repeat itself, the top-ranked cryptocurrency on CoinMarketCap will remain volatile but a large move in either direction is unlikely in the first month. However, the derivatives markets could be giving a signal that this time is different.

This week CME Bitcoin options open interest increased to about $142 million, an increase of over 1000% since the end of April, according to data from Skew. This shows that the options traders are expecting a sharp move in price within the next few days. 

There are approximately $661.7 million worth of long positions open, compared to $252 million in short positions, on the three major futures exchanges. This suggests that the futures traders are holding on to their long positions as they are confident that Bitcoin could soon break above the psychological barrier of $10,000.     

Daily cryptocurrency market performance. Source: Coin360

Murmurs of negative interest rates have also increased in the U.S. and a report by Stack Funds suggests that if negative rates become a reality, institutional investors would be forced to look for alternative assets to generate higher returns. 

With Bitcoin outperforming the U.S. stock markets by a wide margin and doubling gold’s gains year-to-date, institutional interest is likely to rise.

The fundamentals of Bitcoin continue to paint a bullish picture and the derivatives traders are also expecting a trend defining move to start soon. 

Let’s study the charts to spot the critical levels that could indicate the start of a new trend in major cryptocurrencies.

BTC/USD

Bitcoin (BTC) rallied sharply in the past three days and reached a high of $9,941.68 on May 14. However, the bears are unwilling to allow the bulls to have a field day. Currently there is stiff resistance near $10,000.

BTC–USD daily chart. Source: Tradingview

Nevertheless, the bulls continue to buy the dips, which is a positive sign. Both moving averages are sloping up and the relative strength index is above 60 level, which suggests that the buyers have the upper hand.

If the BTC/USD pair can consolidate between $9,200-$10,000 levels for a few days, it will increase the possibility of a breakout and rally towards the resistance line of the symmetrical triangle around $10,600.

This bullish view will be invalidated if the pair turns down and breaks below $9,200. That can drag the pair to the 20-day exponential moving average ($8,851) and below it to the uptrend line. A break below this support will be the first indication that bulls are losing their grip. A possible change in trend will be signaled on a break below $8,130.58. 

Traders can keep an eye on the developing bearish divergence on the RSI, which is a negative sign.

ETH/USD

Ether (ETH) climbed above the 20-day EMA ($197) on May 13 and reached the downtrend line on May 14. Although the bears are attempting to defend the downtrend line, the bulls have not given up much ground.

ETH–USD daily chart. Source: Tradingview

If the 2nd-ranked cryptocurrency on CoinMarketCap bounces off the 20-day EMA and breaks above the downtrend line, a rally to $227.097 is possible. This could present a buying opportunity for traders.

However, if the ETH/USD pair breaks below the 20-day EMA and the support line of the ascending channel, a drop to $176.103 is likely. A break below this critical support can signal the start of a downtrend.

XRP/USD

XRP bounced off the critical support at $0.17372 but hit a wall at the 20-day EMA ($0.20). This suggests that buying dries up at higher levels. If the price turns down from the current levels and breaks below the 50-day simple moving average, a drop to $0.17372 is likely.

XRP–USD daily chart. Source: Tradingview

Conversely, if the bulls propel the 3rd-ranked cryptocurrency on CoinMarketCap above the 20-day EMA, a move to the downtrend line is possible. This level might again act as a resistance but if crossed, a rally to $0.23612 is likely.

As both moving averages are flat and the RSI is close to 50 levels, this suggests a balance between the bulls and bears. Hence, traders can wait on the sidelines until the bulls indicate that they are back in command. 

BCH/USD

Bitcoin Cash (BCH) is facing resistance at the 20-day EMA ($243). If the price turns down from this level, the bears will attempt to sink the altcoin back towards $200. 

BCH–USD daily chart. Source: Tradingview

Conversely, a break above the 20-day EMA can drive the 5th-ranked cryptocurrency on CoinMarketCap to $280.47.

The flat moving averages and RSI close to the midpoint suggests a balance between supply and demand. The next trending move is likely to start only on a breakout of $280.47 or on a break below $200. Until then, the BCH/USD pair is likely to remain range-bound.

BSV/USD

The bounce in Bitcoin SV (BSV) has stalled close to the 20-day EMA ($196). Both moving averages are flat and the RSI is just below the midpoint, which suggests a balance between supply and demand. If the price turns down from the 20-day EMA, a retest of $170 will be on the cards.

BSV–USD daily chart. Source: Tradingview

Conversely, a break above the 20-day EMA can carry the 6th-ranked cryptocurrency on CoinMarketCap to $227.

The BSV/USD pair is in a well-defined range. Hence, the best place to initiate a trade is to buy near the support and sell near the resistance. Another possibility could open up after the pair breaks out of the range, as it will indicate the possible start of a new trending move. Until then, traders should trade with caution.

LTC/USD

The rebound off the critical support at $39 is facing resistance at the 20-day EMA ($44.42). This suggests that buying dries up at higher levels. With both moving averages flat and the RSI below the midpoint, Litecoin (LTC) is likely to consolidate for a few days.

LTC–USD daily chart. Source: Tradingview

If the 7th-ranked cryptocurrency on CoinMarketCap turns down from the current levels, a retest of $39 is possible. If the price bounces off this support once again, it could offer a buying opportunity.

On the upside, if the bulls can push the price above the 20-day EMA, a move to the downtrend line and then to $50.7864-$52.2803 zone is possible.

BNB/USD

Binance Coin (BNB) has been range-bound between $18.1377-$13.65 for the past few days. The sharp bounce off the support of the range has carried the altcoin to $16.30 which is acting as a resistance.

BNB–USD daily chart. Source: Tradingview

This suggests that the bears are likely to mount a stiff resistance between $16.30 and the downtrend line. If the 8th-ranked crypto-asset on CoinMarketCap turns down from this level, a drop to $13.65 is possible.

Conversely, a break above the downtrend line will clear the path for a move to the resistance of the range at $18.1377. A breakout of the range will be a positive move as it will resume the up move towards $21.50. 

EOS/USD

EOS is attempting to break out of the downtrend line. If successful, an up move to $2.8319 is likely. This is an important level to watch out for because if the altcoin turns down from here, it will be at risk of forming the right shoulder of a bearish head and shoulders pattern.

EOS–USD daily chart. Source: Tradingview

This setup will complete on a breakdown and close (UTC time) below $2.3314. If that happens, it will be a huge negative because the H&S pattern has a target objective of $1.5524. 

Both moving averages are flat and the RSI is close to the center, indicating a balance between supply and demand.

If the bulls can propel the 9th-ranked cryptocurrency on CoinMarketCap above $2.8319, a rally to $3.1104-$3.1802 resistance zone is possible. Above this zone, the EOS/USD pair is likely to pick up momentum. 

XTZ/USD

Tezos (XTZ) is at a critical level as the price is getting squeezed between the 20-day EMA ($2.58) and the support line of the ascending channel. A breakout and close (UTC time) above the 20-day EMA is likely to resume the up move.

XTZ–USD daily chart. Source: Tradingview

The first target on the upside is the downtrend line and above it, the rally can extend to the $3.07369-$3.2712 resistance zone. Therefore, a break above the 20-day EMA can offer a buying opportunity to the traders.

Conversely, if the bears sink the 10th-ranked cryptocurrency on CoinMarketCap below the support line of the ascending channel, a retest of $2.24 is possible. A break below this level could start a downtrend.

XLM/USD

Stellar Lumens (XLM) remains in an uptrend but the bears have been defending the uptrend line for the past three days. However, the positive thing is that the bulls have not given up much ground and have kept the price above the 20-day EMA ($0.067).

XLM–USD daily chart. Source: Tradingview

Soon, the bulls are likely to make another attempt to drive the 11th-ranked cryptocurrency on CoinMarketCap above the uptrend line. If successful, the up move is likely to resume with the first target being $0.076994 and then $0.088311.

Conversely, if the XLM/USD pair turns down either from the downtrend line or from the current levels and breaks below the 20-day EMA, a retest of $0.060 is possible. A break below this level will signal a possible change in trend.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Michelle Phan: YouTube Star, Beauty Mogul, Bitcoin Bull


There are very few people in the world that can talk about makeup, entrepreneurship, and cryptocurrency like Michelle Phan. 

Michelle has grown a loyal base of supporters, numbering over 8.9 million subscribers on YouTube today, with her makeup tutorial videos that have collectively racked up over a billion views. 

In 2011, Michelle co-founded IPSY, a subscription-based company that delivers monthly boxes of beauty samples to an estimated 1.5 million subscribers per month. The company has raised a total of $103.2 million from high-profile investors such as Sherpa Capital and TPG Growth, valuing the company at $800 million

credit: Luis Trujillo

Along the way, Michelle regularly revisited her relationship with money and wealth as something more intimate than just numbers. She talks about money at a conceptual level, and educates herself on monetary policy and economic theory. She’s also appeared on Bitcoin podcasts, co-hosted an interview with former Presidential candidate Andrew Yang, and interviewed with CoinCentral (hey, that’s us!)

Recently, Michelle joined Pathfinder (Founders Fund’s early-stage investment vehicle), Ashton Kutcher, and Guy Oseary in a nearly over-subscribed $3 million Seed II round for Lolli, a service that allows users to receive rewards in Bitcoin while shopping at one of Lolli’s participating retailers.

A philosophical attraction to decentralization and self-sovereignty connects the dots between her entrepreneurial endeavors, something that may have developed during Michelle’s formative humble experiences as the daughter of Vietnamese immigrants in the United States. 

Before the success and accolades such as a Streamy ICON award and making the Forbes 2015 30 Under 30 list in Art and Style category and Inc’s 30 Under 30 Coolest Entrepreneurs of 2015, before being an “influencer” was a lucrative career, Michelle could be described as the “bashful teenage daughter of impoverished Vietnamese refugees, and sometimes bullied at her high school in Tampa.“

Like many first-generation children of immigrants in the States, Michelle emulated a persistent work ethic in the pursuit of a better life without the benefits of growing up with a family with established professional and social connections. 

She found solace in the day-to-day grind and hustle. From selling candy bars to blogging, Michelle quickly learned the value of a dollar. When she uploaded her first video to YouTube in 2007 at 19 years old, she encountered the powers of the digital economy, even if it was just 25 cents per week from her videos. 

In 2011, one of Michelle’s friends brought his gaming rig over explained his excitement about using it to do a variety of things: gaming, rending images, and mining Bitcoin. 

“This when I first heard about Bitcoin, and I was curious,” reminisces Michelle. “After that, I looked it up online. I saw lots of naysayers, people calling it fools gold. My first impression was that it was a trend.”

Like many Bitcoin advocates that once had a negative first impression, Michellelook backs at her first encounter with Bitcoin with a laugh. 

Michelle kept the Bitcoin idea in her back pocket and focused on building her beauty empire. Fast-forward to late 2015, about the time IPSY its $100 million Series B and Michelle started racking up prestigious awards.

“It was until late 2015 that I was getting serious about building my assets,” says Michelle. “I was interested in building generational wealth. I came from an immigrant family, and I wanted to provide for the next lineage of my family. That’s when I got interested in gold. I watched some videos about how those people who held gold and precious metals in the Depression in the 1930s were able to provide for their family.” 

“I also started watching a lot of conspiracy videos,” Michelle laughs. “I must have thought the world was going to end. I eventually found the “digital gold” of Bitcoin. I thought I should at least diversify, at least have 1% of my holdings in some digital asset.” 

Once the satoshis hit her wallet, however, Michelle was converted into a voracious student of digital assets and a Bitcoin advocate. 

“It’s about having skin in the game,” says Michelle. “When you actually have satoshis, you want to see it grow. You want to understand it better. I decided I wanted to educate myself and learn about the Bitcoin community. I would frequently go on Bitcoin Reddit. I was able to learn a lot.” 

Michelle was brought to revisit her relationship with money in a relatively short time frame– she essentially went from working at her mother’s nail salon to the cover of Forbes in under 10 years. Her goals of financial wealth and taking care of her mother were met, but something was missing. 

In early 2016, Michelle dropped everything and went on a nine-month globetrotting hiatus. Taking a step back away from producing regular YouTube content and running several projects gave Michelle more time to herself, and she spent more time learning about the word and eventually Bitcoin. 

Michelle’s Foray into Cryptocurrency: 

Through her self-education, Michelle has a favorite: Saifedean Ammous’s book The Bitcoin Standard. It was indirectly through Ammous that Michelle connected with her newest investment: Lolli. 

“I messaged Saifedean on Twitter to thank him for writing the book,” Michelle recalls. “Since I followed him, he’s been DMing me new seminars. One day, he recommended I check out Lolli and talk to the Founder Alex Adelman. I knew it was the right company for me to invest in.” 

Michelle looks back at the countless opportunities to invest in and promote a project in the cryptocurrency space but just couldn’t find a fit.

I had met with a lot of people, CEOs of different exchanges,” says Michelle. It didn’t make sense for me to promote them. Yes, they make it easier to buy cryptocurrency, but at the end of the day, it’s another wallet you don’t really have full ownership over– kind of like a bank. When you have Bitcoin, you should be your own bank, I believe that’s kind of the point. I believe in the decentralization of power.” 

Lolli, according to Michelle, made the most sense to her because she can see herself using it, as well as ultimately a base of customers similar to her prior successful entrepreneurial endeavors. 

“I love shopping, and I love getting rewards (like Honey),” says Michelle. “I know a lot of women do as well. I also feel that many of them aren’t comfortable taking that financial risk to buy Bitcoin. It’s foreign to them. Earning rewards is something they’re familiar with. They’re rewarded with satoshis on the side. If you don’t want to stack sats yet, you can still do so at a smaller level.” 

2020 Investment Theory: Educate Yourself, Be the Customer

As an investor and cryptocurrency advocate, Michelle sees the vague and hazy post-pandemic road ahead with an optimistic lens. 

“The pandemic couldn’t have provided a better set up for cryptocurrency,” comments Michelle. “The Fed is printing trillions of dollars, which could lead to rapid inflation. A gallon of milk could cost $12, and people are going to ask what happened to their money. That’s going to drive a lot of interest to Bitcoin.”

Michelle views the fact that hundreds of millions of people around the world at home as an extremely productive and empowering learning opportunity.

“Every person in this world is giving their time for money in one way for another,” says Michelle. “It’s ridiculous most people don’t know about money. People have a lot of time on their hands, and now is a great chance to be exploring this crazy world. Monetary policy is changing all the time, but the Bitcoin protocol is very simple. It follows Austrian economics. The more people learn more about money, the more they can invest their time and energy into something of value.

In order to spot the best opportunities ahead, Michelle advises entrepreneurs to put themselves in the shoes of their consumers.

“The official number of people claiming unemployment is around 30 million and rising,” says Michelle. “That’s only counting people that have applied, not the ones that aren’t able to because the sites are crashing or just haven’t had the chance to. So, there will likely be a lot of people without disposable income.”

“If they cut back on disposable spending items, they may spend more on essentials. Also, people will want to stay at home. I think there’s going to be some sort of trauma with going back out. [Entrepreneurship] is going to be about capitalizing on those transitions. Be the customer yourself and work your way up.” 

Looking Ahead: Final Thoughts with Michelle 

Michelle keeps herself entertained with passion and self-education. 

“I find it very interesting that there are lots of billionaires and immense amounts of wealth moving to Bitcoin,” notes Michelle. “I mean, just this week Paul Tudor Jones said he has almost 2% of his assets in Bitcoin to hedge against risk, and he’s pretty conservative with his investments. If you have big financial titans and thought leaders jumping into Bitcoin, that could be huge. Imagine the impact Buffet saying he’s going to start buying Bitcoin will have on markets. I’m interested to see who starts converting.” 

Michelle and her own make-up brand, EM Cosmetics.

Michelle Phan embodies a bit of the traditional American dream with a dash of modern digital zest. The success story of someone powering up their laptop (or smartphone) and launching a million-dollar company is no longer viewed as a surreal outlier event. Today, it’s commonplace. 

Hundreds of thousands of content creators spanning YouTube, Twitter, Instagram, Facebook, Twitch, and now Tik Tok are earning billions of dollars per year from viewers that would have likely watched a tube TV just a few decades ago. 

Billion-dollar completely remote (decentralized) companies are coming out of the woodwork, attracting top talent that would have likely walked into a JP Morgan or Goldman Sachs a few decades ago. 

Michelle may have evolved well past any of her financial concerns as a teenager, but she’s maintained a strong relationship with money at a philosophical level.

“When you see what’s happening in the world, even at a government level, you see people that are positioned to take their power back,” says Michelle. “Bitcoin is sovereign money made for free people, which sounds a lot like the American ethos to me.” 

This article is Originally posted on CoinCentral.com
Author: Alex Moskov

Price Analysis 5/13: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM – BTC Ethereum Crypto Currency Blog

Altcoins are currently following Bitcoin price but soon they are likely to decouple and chart their own course.

History suggests that Bitcoin (BTC) halvings have led to massive bull runs. After the first halving in November 2012, the top-ranked cryptocurrency on CoinMarketCap surged 10,000% from late 2012 to 2014. The second halving that took place in July 2016 produced a rally of about 2,500% from mid-2016 to Dec. 2017. On May 11, Bitcoin completed its third halving and the expectations are for another huge up move.

Other than history, current fundamental factors are setting the stage for a huge rally in Bitcoin’s future. The world is currently in the midst of a financial crisis due to the coronavirus outbreak and this dwarfs the previous financial crisis that led to the birth of Bitcoin.

In response to the current crisis, governments and central banks have gone to new extremes with their stimulus measures. For the first time ever, the U.S. Federal Reserve plans to invest in exchange-traded funds and the Trump Administration has started pressurizing the Fed for negative rates.

Daily cryptocurrency market performance. Source: Coin360

For more than a decade, the central banks have only resorted to cutting rates and printing more money in response to every financial problem. As a result, the Fed’s balance sheet has ballooned to over $6.72 trillion and the U.S. government’s debt is over $25 trillion.

The fear of inflation and currency crisis is likely to drive some investors towards cryptocurrencies, according to Anthony “Pomp” Pompliano, the co-founder of Morgan Creek Digital.

Fundamentally, the stage is set for the next bull run in cryptocurrencies but timing it would be difficult. Therefore, long-term investors can gradually build their portfolios on sharp corrections.

BTC/USD

Bitcoin (BTC) nosedived on May 10 and fell to a low of $8,130.58. This sharp fall triggered the stop loss on the remaining long position that was proposed to be kept at $9,000 in a previous analysis.

BTC–USD daily chart. Source: Tradingview

On May 10 and 11, the bulls aggressively defended the uptrend line. This could have led to short covering by the aggressive bears. The breakout above the 20-day EMA ($8,662) further strengthened the case for a possible retest of $10,000 levels.

The 20-day exponential moving average has started to slope up once again and the relative strength index has bounced off from close to the midpoint. This suggests that the bulls are in command and the path of least resistance is to the upside.

Above $9,200, a move to $10,000 is possible. The bears are likely to mount a stiff resistance between $10,000 and the downtrend line of the symmetrical triangle at $10,700. This zone is likely to be the real test of this up move.

The bullish view will be invalidated if the BTC/USD pair turns down and plummets below the uptrend line and the recent lows of $8,130.58. If that happens, a deeper correction to $6,471.71 is possible.

ETH/USD

The sharp fall in Ether (ETH) on May 10 broke below the support line of the channel, which triggered the suggested stop-loss on the long positions at $185. However, buying near the lows helped the biggest altcoin recover and close (UTC time) inside the channel.

ETH–USD daily chart. Source: Tradingview

On May 11, the bears again attempted to break the uptrend by dragging the 2nd-ranked cryptocurrency on CoinMarketCap below the support line of the channel. However, the bulls again bought the dip.

This could have led to short covering by the aggressive bears and follow up buying by the aggressive bulls. This has propped the ETH/USD pair above the 20-day EMA ($196). The downtrend line might offer stiff resistance but if this level is scaled, the up move can retest $227.097.

Conversely, if the pair turns down from the downtrend line, the bears are likely to make another attempt to sink the price below the channel and the recent low of $176.112. If successful, a deeper correction is likely.

XRP/USD

XRP plunged to a low of $0.17898 on May 10. This sharp decline triggered our proposed stop-loss on the long positions at $0.20. However, the positive thing is that the bulls bought the dips aggressively.

XRP–USD daily chart. Source: Tradingview

Currently, the bulls are attempting to push the 3rd-ranked cryptocurrency on CoinMarketCap above the 20-day EMA ($0.20).

If successful, an up move to the downtrend line is possible. A breakout of the downtrend line will signal strength and can result in a rally to the $0.23612-$0.24770 resistance zone.

On the other hand, if the XRP/USD pair turns down from the downtrend line, the bears will make another attempt to break the $0.17372 support. If that happens, a drop to $0.14 is possible.

BCH/USD

Bitcoin Cash (BCH) has been consolidating between $200 and $280.47 for more than a month. When the price is stuck in such a large range, traders can buy near the support and sell near the resistance.

BCH–USD daily chart. Source: Tradingview

The 5th-ranked cryptocurrency on CoinMarketCap turned down from the resistance of the range on May 9 and plunged to a low of $217.55 on May 11. Although the bulls purchased this dip, they have not been able to propel the price above the 20-day EMA ($243), which suggests a lack of momentum.

If the BCH/USD pair turns down from the current levels, a drop to $200 is possible. Conversely, if the bulls can push the price above the 20-day EMA, a move to $280.47 is likely.

BSV/USD

Bitcoin SV (BSV) fell from close to the resistance of the range to the support of the range within two days. The bulls purchased the drop to the support of the range at $170 on May 10 and 11, which is a positive sign.

BSV–USD daily chart. Source: Tradingview

This increases the possibility of a range-bound movement in the 6th-ranked cryptocurrency on CoinMarketCap. A break above the 20-day EMA ($197) can carry the price to the top of the range at $227. Above this level, a new uptrend is likely.

Conversely, if the BSV/USD pair turns down from the current levels, the bears might make one more attempt to sink the price below $170. If successful, a downtrend will begin.

LTC/USD

Litecoin (LTC) turned down from the downtrend line and nosedived below the moving averages and made an intraday low of $39.3920 on May 10. This triggered the recommended stop-loss on the long positions at $42.

LTC–USD daily chart. Source: Tradingview

Although the bears attempted to sink the 7th-ranked cryptocurrency on CoinMarketCap below $39 on May 10 and 11, they could not do so. This suggests that buyers stepped in closer to this level.

However, the bounce off the $39 levels has not been able to sustain above the 50-day simple moving average ($43). This suggests that demand dries up at higher levels. If the LTC/USD pair turns down from the current levels, a retest of $39 is possible. A break below this level will start a downtrend.

Conversely, if the bulls can drive the price above the downtrend line, a rally to the $50.7864-$52.2803 range is possible.

BNB/USD

The sharp fall in Binance Coin (BNB) on May 10 triggered the stop-loss on the long positions as suggested in the previous analysis. The bulls aggressively defended the critical support at $13.65 on May 10 and 11. 

BNB–USD daily chart. Source: Tradingview

This suggests that the 8th-ranked crypto-asset on CoinMarketCap is likely to be range-bound for the next few days.

Currently, the bulls are facing a stiff resistance at the 20-day EMA ($16.21). If the BNB/USD pair turns down from this level, the boundaries of the range are likely to be $16.30-$13.65.

But if the bulls can propel the pair above the 20-day EMA and the downtrend line, a rally to $18.1377 is possible. A new uptrend is likely to begin if the bulls propel the pair above this resistance.

EOS/USD

The failure of the bulls to break above the downtrend line attracted profit booking that dragged EOS below the uptrend line and the moving averages on May 10. That triggered the suggested stop loss on the long positions at $2.50.

EOS–USD daily chart. Source: Tradingview

Currently, the bulls are struggling to push the 9th-ranked cryptocurrency on CoinMarketCap above the moving averages. This suggests a lack of demand at higher levels.

If the EOS/USD pair does not rise above the downtrend line within the next few days, the bears will make another attempt to resume the downtrend.

The 20-day EMA ($2.64) has started to turn down and the RSI has plunged into the negative territory. This suggests that the bears are in command. If the pair sustains below $2.3314, the downtrend is likely to resume.

XTZ/USD

Tezos (XTZ) plunged below the critical $2.55900337 support on May 10, which triggered the stop loss on the remaining long positions at $2.55 as suggested in the previous analysis.

XTZ–USD daily chart. Source: Tradingview

Although the bears broke below the support line of the ascending channel on May 10 and 11, they could sustain the price below it. This suggests that the bulls are attempting to keep the 10th-ranked cryptocurrency on CoinMarketCap inside the channel.

If the bulls can break out and sustain the price above the 20-day EMA ($2.59), it will increase the possibility of a move back to $3.07369598. Hence, this can offer a buying opportunity.

This bullish view will be invalidated if the XTZ/USD pair turns around from the 20-day EMA and breaks below the 50-day SMA ($2.23). Such a move might signal the start of a new downtrend.

XLM/USD

Stellar Lumens (XLM) has been in an uptrend for the past few weeks. With the sharp selloff on May 10 and 11, the bears attempted to change the trend but they could not sustain the price below $0.060.

XLM–USD daily chart. Source: Tradingview

This showed that the bulls were buying the dips to $0.060. On May 12, the 11th-ranked cryptocurrency on CoinMarketCap surged, which suggested that more buyers came onboard as the confidence picked up.

Currently, the up move is facing resistance at the uptrend line but the bulls have not given up much ground. This increases the possibility of a breakout of the uptrend line. If successful, the XLM/USD pair can rally to $0.076994.

The pair remains positive as long as it sustains above the $0.060 levels. A trend change will be signaled if the bears sink the pair below this support.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Litecoin Foundation Migrates to BitGo’s Multi-Signature Wallet – BTC Ethereum Crypto Currency Blog

The Litecoin Foundation announced on May 7 that it would migrate from the multi-sig Electrum-LTC wallet to BitGo’s multi-sig wallet.

The Litecoin Foundation announced that it will migrate from the multi-sig Electrum-LTC wallet to BitGo’s multi-sig wallet. 

According to a May 7 post on the company’s website, the move is due to BitGo’s wallet providing “greater convenience and nearly the same level of security.” The old Electrum-LTC addresses will be available online for one month, with the new BitGo wallets addressed to be published soon.

The price of Litecoin (LTC) rose 5% following the announcement, but experienced a similar downturn as Bitcoin (BTC) during the halving dump on May 9.

Starting Mimblewimble testing

Litecoin recently posted a progress update on the cryptocurrency codebase’s Mimblewimble integration, claiming that a testing framework had been built and codebase integration had started. According to developers, Mimblewimble should be running on the Litecoin testnet by the end of the summer.

Original Article
Author: btcethereumadmin

Price Analysis 5/8: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM – BTC Ethereum Crypto Currency Blog

After Bitcoin’s rally, several major cryptocurrencies are attempting to resume their up move.

Billionaire hedge fund manager Paul Tudor Jones has added Bitcoin (BTC) to his portfolio. In a letter to his clients, Jones said that the top-ranked cryptocurrency on CoinMarketCap was likely to play a similar role to the one that was played by gold in the 1970s. 

Jones added that Bitcoin was the fastest horse, hence, he was placing a bet on it. This move could attract other hedge fund managers to cryptocurrencies as they look to hedge their portfolios against the incessant money printing by the Federal Reserve. 

Bitcoin’s recent rally above $10,000 is a major sentiment booster. The dominance of the largest cryptocurrency has rallied from under 61% in mid-Feb. to over 68%. This shows that traders’ interest has shifted from altcoins back to Bitcoin just before halving. 

Daily cryptocurrency market performance. Source: Coin360

The only negative is that as Bitcoin crosses above $10,000 the sky-high target projections by analysts are again back on the table. Morgan Creek CEO Mark Yusko believes that Bitcoin could rally to over $100,000 between 2021 and 2022. Over the next 7-10 years, Yusko expects the Bitcoin rally to reach $400,000 to $500,000. Global Macro Investor CEO Raoul Pal is even more positive as he believes that Bitcoin has the potential to even reach $1 million

Though the long-term fundamentals paint a very bullish picture, Bitcoin’s rally is likely to face stiff resistance at intermittent levels until it breaks out of its all-time highs. Therefore, traders should take it one step at a time instead of becoming too greedy.

BTC/USD

Bitcoin (BTC) surged on May 7 and broke above the $9,456.77 resistance. The momentum carried the price above $10,000, which is a huge sentiment booster. Though the bears are defending the $10,000 level, they have not been able to sink the price below the previous resistance turned support of $9,456.77.

BTC–USD daily chart. Source: Tradingview

This is a positive sign as it suggests that the bulls are in no hurry to book profits even at the current levels. Both moving averages are sloping up and the relative strength index has jumped above 80, which suggests that the bulls are in command but the BTC/USD pair looks overbought in the short-term.

However, during strong bull runs, the markets can remain overbought for extended periods of time. Therefore, if the momentum sustains, the bulls might propel the pair above the symmetrical triangle. If successful, it would be a huge positive and could signal the possible start of an extended bull run.

Alternatively, as the pair is overbought, a few days of consolidation or a minor correction cannot be ruled out from the current levels. If the bulls can sustain the price above $9,456.77 during the pullback, it will increase the possibility of a rally to $10,500 and then to the long-term downtrend line of the symmetrical triangle.

The bears are likely to aggressively defend the zone between $10,500 and the downtrend line. Therefore, traders can tighten their stops if the pair starts to turn down from this zone. The first sign of weakness would be a break below $9,000. Therefore, the traders can trail the stops on the remaining long position to $9,000. 

ETH/USD

Ether (ETH) bounced off the 20-day exponential moving average ($197) on May 7 and surged above the downtrend line. This is a positive sign as it shows aggressive buying at support levels. If the bulls can sustain the price above the downtrend line, a rally to the resistance line of the ascending channel is likely.

 

ETH–USD daily chart. Source: Tradingview

The upsloping moving averages and the RSI above 60 levels suggest that bulls have the upper hand. The 2nd-ranked cryptocurrency on CoinMarketCap is likely to pick up momentum on a break above the channel.

As long as the price remains inside the upper half of the ascending channel and the 20-day EMA slopes up, the possibility of a breakout above the channel remains high. 

A break below the 20-day EMA will be the first sign that the bulls are losing their grip. The trend will shift in favor of the bears if the ETH/USD pair plummets below the support line of the channel. The traders can trail their stops on the long positions to $185.

XRP/USD

XRP has been trading between $0.20570-$0.22281 for the past four days. This shows a balance between buyers and sellers. However, this tight range trading is unlikely to continue for long.

XRP–USD daily chart. Source: Tradingview

A break above $0.22281 will be the first sign of strength. Above this level, a rally to the overhead resistance zone of $0.23612-$0.24770 is likely. 

Conversely, if the bears sink the 3rd-ranked cryptocurrency on CoinMarketCap below the support at $0.20570, a drop to $0.17372 will be on the cards. Therefore, traders can protect their long positions with stops at $0.20.

BCH/USD

Bitcoin Cash (BCH) dropped to an intraday low of $226.90, which triggered the stop-loss on the long positions suggested in the previous analysis. However, the bears could not capitalize on this break and drag the altcoin lower.

BCH–USD daily chart. Source: Tradingview

The 5th-ranked cryptocurrency on CoinMarketCap bounced from the lows and closed (UTC time) above $250. This suggests strong demand at lower levels. If the bulls sustain the price above the downtrend line, a move to $280.47 is possible.

Conversely, if the BCH/USD pair turns down from the current levels and breaks below $226.90, a drop to $200 is likely.

BSV/USD

Bitcoin SV (BSV) again bounced from just below the 20-day EMA (201) on May 7. This is a positive sign as it shows that the bulls are defending this support. 

BSV–USD daily chart. Source: Tradingview

Currently, the 6th-ranked cryptocurrency on CoinMarketCap is range-bound between $227-$187.16. Both moving averages are gradually sloping up and the RSI is in the positive territory, which suggests that the bulls have a slight edge.

A break above $227 will signal strength. This can present a buying opportunity for the traders. Above this level, a rally to $268.842 and then to $319.424 is likely. 

On the other hand, if the bears sink the BSV/USD pair below $187.16, a drop to $170 is possible. This is a strong support, hence if the pair bounces off this level, it can also offer a buying opportunity. 

LTC/USD

Litecoin (LTC) bounced off the $43.67 support on May 7 and climbed back above the 20-day EMA. This is a positive sign as it shows demand at lower levels. The bulls will now try to push the price above the downtrend line.

LTC–USD daily chart. Source: Tradingview

If successful, a rally to the $50-$52.2803 resistance zone is possible. Above this zone, the momentum is likely to pick up.

On the other hand, if the 7th-ranked cryptocurrency on CoinMarketCap turns down from the downtrend line and plummets below the 50-day simple moving average ($42.5), a drop to $36 is possible. The traders can retain the stops on the long positions at $42.

BNB/USD

Binance Coin (BNB) bounced off the 20-day EMA ($16.47) on May 7, which suggests that the bulls are defending this support. However, the bulls are facing stiff resistance at the downtrend line.

BNB–USD daily chart. Source: Tradingview

A break above the downtrend line will be the first sign of strength. Above this level, the 8th-ranked crypto-asset on CoinMarketCap can rise to $18.1377. If this level is crossed, the momentum is likely to pick up, which can result in a rally to $21.50.

Conversely, if the BNB/USD pair turns down from the downtrend line and breaks below $16.30, it can slide to $13.65. The stop-loss on the long positions can be kept at $15.50.

EOS/USD

EOS closed (UTC time) below the uptrend line on May 6, which was a negative sign. However, the bulls purchased the dip close to the 50-day SMA ($2.53) on May 7 and pushed the altcoin back above the uptrend line.

EOS–USD daily chart. Source: Tradingview

The 9th-ranked cryptocurrency on CoinMarketCap is currently facing stiff resistance at $2.8319. If the bears sink the price below the 50-day SMA, a drop to $2.3314 is possible. 

Conversely, if the bulls can push the price above the $2.8319, a rally to $3.1104-$3.1802 is likely. Above this level, the EOS/USD pair could pick up momentum and run towards $3.8811. The stop-loss on the long positions can be kept at $2.50.

XTZ/USD

Tezos (XTZ) has failed to break above the $2.8424 resistance for the past few days. This suggests that the bears are aggressively defending this resistance. On the downside, the bulls are attempting to keep the altcoin above the $2.55900337 support.

XTZ–USD daily chart. Source: Tradingview

This tight range trading is unlikely to continue for long. Soon, the 10th-ranked cryptocurrency on CoinMarketCap will either breakout or breakdown of the tight $2.8424-$2.55900337 range. 

If the bulls can push the price above $2.8424, a rally to $3.07369598 and then to $3.2712 is likely. Conversely, if the bears sink the price below $2.55900337, it will complete a head and shoulders pattern, which has a target objective of $2.04131076. The stop-loss on the remaining long positions can be kept at $2.55.

XLM/USD

Stellar Lumens (XLM) bounced off the uptrend line on May 7, which suggests buying on dips. Currently, the bulls are attempting to sustain the price above the overhead resistance at $0.073434.

XLM–USD daily chart. Source: Tradingview

If successful, the 11th-ranked cryptocurrency on CoinMarketCap can rally to $0.088311. This level is a major resistance, hence, a few days of consolidation or a minor correction is possible from this level.

Conversely, if the XLM/USD pair turns down from the current level and breaks below the downtrend line, a drop to the 20-day EMA ($0.066) is possible. This is likely to act as a strong support. If the pair bounces off the 20-day EMA, the bulls will make one more attempt to resume the up move.

However, if the bears sink the pair below the 20-day EMA, a drop to $0.062805 is likely. Below this level, the trend will turn in favor of the bears.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

THE KUAILIAN ECOSYSTEM BRINGS US CLOSER TO THE MOST ADVANCED BLOCKCHAIN-BASED AUTOMATIONS

Cryptocurrencies have been with us for more than 10 years and since the publication of the Bitcoin White Paper, blockchain technology has not stopped evolving. At the same time, the way of working to obtain returns has also undergone a drastic evolution. It has been a long time since an individual user could mine with his computer and get rewards. The evolution of technology and the emergence of large competitors worldwide has now made blockchain investments profitable only for large players in the system. That is why today we present to you: the Kuailian ecosystem.

 

What is Kuailian?

Kuailian is a company that offers us a complete ecosystem of tools to access the world of cryptocurrencies (buying and exchanging cryptocurrencies in its crypto bank), in addition to managing services based on blockchain technology without the need for great knowledge and without having to face large disbursements to acquire the necessary technology for it.

Kuailian is a company registered in Estonia, which together with Switzerland is the country in Europe that has the most developed legislation to protect businesses of cryptocurrencies, blockchain technology and its users.

 

The fundamental characteristic of Kuailian

Although it is indeed very difficult to select a single characteristic that defines a complete ecosystem such as Kuailian, it could be argued that its main differentiating value compared to the competition is its strong commitment to honesty and transparency through – precisely – the tools that blockchain technology enables us.

All the operations carried out by the company can be consulted in real-time. You can spend as much time as you want to track all of those operations (remember that blockchain records are public) and make sure that cryptocurrencies are working and generating results.

Besides, you can consult the legal records of the company in Estonia.

 

Smart Pool and Proof of Stake

Not all cryptocurrencies are like Bitcoin (Proof of Work), which to mine it requires huge electrical expenses and powerful equipment that are out of date in months. In other cryptocurrencies, to validate operations, you have to be in possession of a predetermined amount of said currency (Proof of Stake). Under this principle, it makes a lot of sense for a leading and market-savvy company like Kuailian to help us by creating large cryptocurrency exchanges that entitle you to validate trades (and collect rewards for it).

But technological evolution does not stop (and neither does Kuailian’s evolution). The most modern and powerful networks use new consensus protocols. Many people already know that Kuailian works with Master Nodes, which in summary are validators of high-performance operations and one of the main products they work with, but today in Kuailian different consensus technologies are supported such as: PROOF OF STAKE, DELEGATED PROOF OF STAKE, THRESHOLDED PROOF OF STAKE, MASTERNODES, PROFIT SHARE, PROOF OF AGREEMENT, PROOF OF HISTORY, PROOF OF AUTHORITY, TENDERMIT, HIGHWAY, BYZANTINE FAULT TOLERANCE (BFT), NON-BFT, SHOW, MULTI-BFT BFT, ASYNCHRONOUS BFT – FUTURE CASPER AND OUROBOROS.

This is where Kuailian’s ability to make something that would otherwise be inaccessible to ordinary people accessible. Both for the amount of cryptocurrencies necessary and for the knowledge required to deploy it. Thus, Kuailian uses a 1000-day long-term staking strategy and simple way staking (Stake / Unstake), which will be incorporated shortly.

Automations of Kuailian

Kuailian has grouped and divided the Master Nodes so that they are accessible to all. They offer us the possibility of accessing a part of the rewards generated by their Smart Pool.

Next, we explain how -simple- the entry process to Kuailian is.

  1. Create a Kuailian account.
  2. Complete the KYC (since we are talking about a company legally registered in the European Union) and pay the registration fee ($ 50.95 paid in Ether).
  3. Buy the Kuais we want, at the price of $ 100 each (paid in Ether). A Kuai is not a token and it is not a cryptocurrency, it is the unit of measurement of the staking capacity of a license to operate the software, for 1,000 days. The more licenses, the higher returns.
  4. Indicate the Ethereum wallet where we want to collect the daily distribution of benefits.

The way of organizing with the Kuais is interesting. On the one hand, it is accessible to everyone due to its low cost, and, on the other hand, users’ contributions are channeled to the Smart Pool, which is nothing more than the own system that Kuailian has developed, to simultaneously manage all the cryptocurrencies contributed by the users to create the Master Nodes. Dual purpose, as this ensures that new Master Nodes can be deployed each week through the acquisition of new licenses (either from new users or from existing ones).

All contributions are managed by a Machine Learning system, which analyzes the most profitable and liquid cryptocurrency market and Master Nodes, that is, that their rewards can be exchanged for Bitcoin and, in turn, to Ether. The system rotates towards them, thus maximizing the total efficiency of the ecosystem.

Finally, it should be noted that the benefits generated by our contribution to the system are distributed daily. This is a great advantage, we are usually used to dealing with heavy interfaces that require us minimum figures to be able to make a withdrawal, delays until payments are processed or even depend on an authorization … to have your own money! Kuailian, in its clear commitment to transparency, offers us its own system programmed by its team, a Dispersion Smart Contract developed on the Ethereum network, which distributes the benefits among users daily and without the possibility of cheating or errors ( in fact, the contract can be reviewed in any explorer for the Ethereum blockchain).

Extra: Both the Smart Pool and Kuailian Bank and the rest of the services have an affiliation system, by which each referral who becomes a user of Kuailian, will generate profits for the one who was its host.

 

Kuailian Bank and the next innovations

In its determined commitment to create a complete ecosystem, Kuailian has developed agreements to provide financial services. Currently “FIAT” coins can be deposited and exchanged for cryptocurrencies, but in the near future they plan to add a wallet and debit card to complement it, in addition to digital payment terminals among other financial services.

For its part, the Smart Pool will also grow and develop new options, such as high- frequency trading (HFT) and arbitration systems; all this through the same artificial intelligence system that governs the ecosystem.

A growing ecosystem

Kuailian is not just a financial ecosystem, it goes much further, just like blockchain technology does. Kuailian’s main objective is to bring existing market resources based on blockchain technology closer together, to make them more efficient, more transparent and with a user experience never seen before. Very soon the Kuailian Travel ecosystem will be added, the first service that will be outside the company’s “financial” sector, and that will open the door to the arrival of new market resources that will make the company a benchmark in the blockchain world.

 

Conclusion

If you are looking for a company that makes your entry into the world of blockchain and cryptocurrencies more accessible … Kuailian is your best ally.

Official links

 

Price Analysis 5/6: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM – BTC Ethereum Crypto Currency Blog

Most major cryptocurrencies are stuck in a tight range awaiting direction from Bitcoin.

Pantera Capital Founder and CEO Dan Morehead is bullish on Bitcoin (BTC) due to the upcoming halving as he believes that “if the new supply of Bitcoin is cut in half, all else being equal, the price should rise”. If history were to repeat itself, Morehead expects the top-ranked cryptocurrency on CoinMarketCap to rally to $115,212 by August 2021. The CEO also said that gold might be losing its luster but he does not expect the yellow metal to vanish overnight.

Bloomberg’s senior commodity strategist Mike McGlone said that in traditional commodity markets, higher prices are an incentive for the miners to produce more. If demand cannot keep up with new supply, the price either stagnates or drops.

However, Bitcoin’s mining cannot be altered, which makes it a better bet compared to gold. McGlone also pointed out that Bitcoin’s 180-day volatility has hit an all-time low. The last time it had done so resulted in the bull market that started in 2015 and ended in 2017.

Daily cryptocurrency market performance. Source: Coin360

However, Peter Schiff considers buying Bitcoin before halving as a crowded trade and according to him, such trades usually do not behave as expected. Therefore, Schiff expects a lack of buying support post halving, which could result in a sharp drop.

Digital Asset Investment Management chief operating officer Adam Pokornicky believes that top US banks such as JPMorgan Chase and Goldman Sachs could be advising their clients against buying Bitcoin.

BTC/USD

Bitcoin (BTC) has broken out of the pennant, which is a huge positive. This indicates a possible resumption of the uptrend. If the bulls can push the price above $9,456.77, a rally to $10,000 and then to $10,500 is likely.

BTC–USD daily chart. Source: Tradingview

Both moving averages are sloping up and the relative strength index is in the overbought zone, which suggests that the bulls are in command.

However, if the bears defend the $9,456.77 level aggressively, a drop to the breakout level of the pennant is likely. If this retest holds, the possibility of a breakout above $9,456.77 increases.

Conversely, if the BTC/USD pair turns down from the current levels or $9,456.77 and breaks below the breakout level of the pennant, a drop to the 20-day exponential moving average ($8,180) is likely.

The stop-loss on the rest of the long position can be kept just below the 20-day EMA because if this support cracks, a deeper correction is possible.

ETH/USD

Ether (ETH) has been holding just above the centerline of the ascending channel. Both moving averages are sloping up and the RSI has been holding above the 60 levels, which suggests that bulls have the upper hand.

ETH–USD daily chart. Source: Tradingview

If the bulls can push the 2nd-ranked cryptocurrency on CoinMarketCap above the downtrend line, a rally to the resistance line of the channel is likely. A breakout of the channel will be a huge positive as that can result in a rally to $250 and then $288.599.

Conversely, if the ETH/USD pair turns down from the downtrend line and breaks below the 20-day EMA ($195), it will signal weakness. Below this level, a drop to the support line of the channel is possible.

For now, traders can keep the stop-loss on the remaining long positions at $185. A break below the channel will indicate a possible change in trend.

XRP/USD

Having held the critical support at $0.20570 on May 4, the bulls are currently attempting to push XRP towards the overhead resistance zone of $0.23612-$0.24770. The upsloping moving averages and the RSI above 60 levels suggest that bulls have the upper hand.

XRP–USD daily chart. Source: Tradingview

If the bulls can scale the price above $0.24770, the 3rd-ranked cryptocurrency on CoinMarketCap can rally to the long-term downtrend line at $0.28.

Conversely, if the bulls fail to push the price above $0.24770, the XRP/USD pair is likely to remain range-bound for a few more days.

A break below $0.20570 will be the first sign of weakness. Below this level, a drop to $0.17372 is possible. Therefore, the stop-loss on the long positions can be kept at $0.20.

BCH/USD

Bitcoin Cash (BCH) has held the 20-day EMA ($244) for the past two days but the bulls have not been able to achieve a strong bounce off it. This suggests a lack of urgency among the bulls to buy at the current levels.

BCH–USD daily chart. Source: Tradingview

If the bulls fail to propel the 5th-ranked cryptocurrency on CoinMarketCap above the downtrend line, the bears will attempt to sink the price below $234.55. If successful, a drop to $200 is likely. Therefore, traders can keep the stop-loss on the long positions at $230.

Conversely, if the bulls can propel the BCH/USD pair above the downtrend line, a move to $280.47 is likely. A breakout of this level will signal strength and open the doors for a rally to $350.

BSV/USD

Bitcoin SV (BSV) has been trading above the 20-day EMA ($200) for the past two days. This shows that bulls are buying the dips but the failure to push the price above the downtrend line suggests that demand dries up at higher levels.

BSV–USD daily chart. Source: Tradingview

A break below the 20-day EMA can result in a fall to $187.16 and then to $170. The bulls are likely to defend this level aggressively.

As the 6th-ranked cryptocurrency on CoinMarketCap has been trading in a large range of $170-$227 for the past few weeks, a drop to $170 can offer a low-risk buying opportunity.

Conversely, if the bulls push the price above the downtrend line, a rally to $227 is possible. Above this level, the BSV/USD pair is likely to pick up momentum and rally towards $284. Therefore, a breakout above $227 can also offer a buying opportunity.

LTC/USD

Although the bulls have sustained Litecoin (LTC) above the 20-day EMA ($45.45) for the past two days, they have not been able to achieve a strong bounce. This is a negative sign as it shows a lack of demand at higher levels.

LTC–USD daily chart. Source: Tradingview

A drop below the 20-day EMA will be the first indication that the bears are making a comeback. The trend is likely to turn negative on a break below the 50-day simple moving average ($42.16). Therefore, the traders can protect their long positions with a stop-loss of $42.

Conversely, a strong bounce off the current levels can carry the 7th-ranked cryptocurrency on CoinMarketCap to the $50-$52.2803 resistance zone. Above this zone, a rally to $63.8769 is likely.

BNB/USD

The bulls have kept Binance Coin (BNB) above the 20-day EMA ($16.39) but have not been able to push the price above the downtrend line. This suggests a lack of demand at higher levels.

BNB–USD daily chart. Source: Tradingview

The 8th-ranked crypto-asset on CoinMarketCap has formed doji candlestick patterns in the past two days, which shows indecision among the bulls and the bears.

A break above the downtrend line will be the first sign of strength. If the BNB/USD pair can scale above $18.1377, it could result in a quick up move to $21.50.

Conversely, if the bears sink the price below the support of $16.30, a drop to the 50-day SMA ($14.53) is possible. Therefore, the traders can keep the stop-loss on the long positions at $15.50.

EOS/USD

EOS dipped below the uptrend line on May 4 but the bears could not capitalize on the breakdown. The altcoin recovered and closed (UTC time) above the 20-day EMA ($2.74), which suggests buying at lower levels.

EOS–USD daily chart. Source: Tradingview

However, since then, the bulls have not been able to push the price above the overhead resistance of $2.8319, which is a negative sign. Currently, the 9th-ranked cryptocurrency on CoinMarketCap is being squeezed between $2.8319 and the uptrend line.

Soon, a large range move is likely but it is difficult to predict the direction of the breakout because the moving averages and the RSI suggest a balance between buyers and sellers.

If the bulls can propel the EOS/USD pair above the downtrend line, a rally to $3.1802 is possible. Conversely, if the bears sink the pair below the downtrend line, a drop to $2.3314 is possible. Traders can protect their long positions with a stop-loss of $2.50.

XTZ/USD

Tezos (XTZ) has been facing stiff resistance close to $2.8424 level for the past two days. This has kept the altcoin range-bound between $2.8424 and $2.55900337. This tight range action suggests a balance between supply and demand.

XTZ–USD daily chart. Source: Tradingview

Usually, after a tight consolidation, a trending move starts. A break above $2.8424 will tilt the advantage in favor of the bulls and can result in a rally to $3.07369598. If this level is scaled, the 10th-ranked cryptocurrency on CoinMarketCap can reach $3.2712.

On the other hand, a break and close (UTC time) below $2.55900337 will complete a bearish head and shoulders pattern that has a target objective of $2.04131076. Therefore, the stops on the remaining long positions can be retained at $2.55.

However, it is unlikely to be a straight fall because the bulls are likely to defend the support line of the ascending channel aggressively. If this support holds, it could offer a buying opportunity but if this support cracks, the advantage will shift in favor of the bears.

XLM/USD

The bulls are struggling to push Stellar Lumens (XLM) above the overhead resistance at $0.073434. However, the positive thing is that the bulls have not given up much ground, which suggests strength.

XLM–USD daily chart. Source: Tradingview

If the bulls can propel the 11th-ranked cryptocurrency on CoinMarketCap above $0.073434-$0.076994 resistance zone, a rally to $0.088311 is likely. Both moving averages are sloping up and the RSI is close to the overbought zone, which suggests that bulls have the upper hand.

This bullish view will be invalidated if the XLM/USD pair turns down from the current levels and drops below the 20-day EMA ($0.064) and $0.062805 support zone. Below this zone, a deeper correction is likely.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Litecoin Core v0.18.1 Release Candidate

Follow our Twitter for the latest dev news.

We are pleased to release Litecoin Core 0.18.1 release candidate. This is a new major version release, including new features, various bug fixes, performance improvements and updated translations.

It is recommended for power users to upgrade to this version. After sufficient testing, Litecoin Core 0.18.1 final will be released and is recommended for all users to upgrade.

How to Upgrade

If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older versions), then run the installer (on Windows) or just copy over /Applications/Litecoin-Qt (on Mac) or litecoind/litecoin-qt (on Linux).

The first time you run version 0.15.0 or newer, your chainstate database will be converted to a new format, which will take anywhere from a few minutes to half an hour, depending on the speed of your machine.

Note that the block database format also changed in version 0.8.0 and there is no automatic upgrade code from before version 0.8 to version 0.15.0 or later. Upgrading directly from 0.7.x and earlier without redownloading the blockchain is not supported. However, as usual, old wallet versions are still supported.

Compatibility

Litecoin Core is supported and extensively tested on operating systems using the Linux kernel, macOS 10.10+, and Windows 7 and newer. It is not recommended to use Litecoin Core on unsupported systems.

Litecoin Core should also work on most other Unix-like systems but is not as frequently tested on them.

From 0.17.0 onwards, macOS <10.10 is no longer supported. 0.17.0 is built using Qt 5.9.x, which doesn’t support versions of macOS older than 10.10. Additionally, Litecoin Core does not yet change appearance when macOS “dark mode” is activated.

In addition to previously-supported CPU platforms, this release’s pre-compiled distribution also provides binaries for the RISC-V platform.

Known issues

Wallet GUI

For advanced users who have both (1) enabled coin control features, and (2) are using multiple wallets loaded at the same time: The coin control input selection dialog can erroneously retain wrong-wallet state when switching wallets using the dropdown menu. For now, it is recommended not to use coin control features with multiple wallets loaded.

Notable changes

Mining

  • Calls to getblocktemplate will fail if the segwit rule is not specified. Calling getblocktemplate without segwit specified is almost certainly a misconfiguration since doing so results in lower rewards for the miner. Failed calls will produce an error message describing how to enable the segwit rule.

Configuration option changes

  • A warning is printed if an unrecognized section name is used in the configuration file. Recognized sections are [test], [main], and [regtest].
  • Four new options are available for configuring the maximum number of messages that ZMQ will queue in memory (the “high water mark”) before dropping additional messages. The default value is 1,000, the same as was used for previous releases. See the ZMQ documentation for details.
  • The rpcallowip option can no longer be used to automatically listen on all network interfaces. Instead, the rpcbind parameter must be used to specify the IP addresses to listen on. Listening for RPC commands over a public network connection is insecure and should be disabled, so a warning is now printed if a user selects such a configuration. If you need to expose RPC in order to use a tool like Docker, ensure you only bind RPC to your localhost, e.g. docker run […] -p 127.0.0.1:9332:9332 (this is an extra :9332 over the normal Docker port specification).
  • The rpcpassword option now causes a startup error if the password set in the configuration file contains a hash character (#), as it’s ambiguous whether the hash character is meant for the password or as a comment.
  • The whitelistforcerelay option is used to relay transactions from whitelisted peers even when not accepted to the mempool. This option now defaults to being off, so that changes in policy and disconnect/ban behavior will not cause a node that is whitelisting another to be dropped by peers. Users can still explicitly enable this behavior with the command line option (and may want to consider contacting the Litecoin Core project to let us know about their use-case, as this feature could be deprecated in the future).

Wallet changes

When creating a transaction with a fee above -maxtxfee (default 0.1 LTC), the RPC commands walletcreatefundedpsbt and fundrawtransaction will now fail instead of rounding down the fee. Beware that the feeRate argument is specified in LTC per kilobyte, not litoshi per byte.

Documentation

  • A new short document about the JSON-RPC interface describes cases where the results of an RPC might contain inconsistencies between data sourced from different subsystems, such as wallet state and mempool state. A note is added to the REST interface documentation indicating that the same rules apply.
  • Further information is added to the JSON-RPC documentation about how to secure this interface.
  • A new document about the litecoin.conf file describes how to use it to configure Litecoin Core.
  • A new document introduces Litecoin Core’s BIP174 Partially-Signed Litecoin Transactions (PSBT) interface, which is used to allow multiple programs to collaboratively work to create, sign, and broadcast new transactions. This is useful for offline (cold storage) wallets, multisig wallets, coinjoin implementations, and many other cases where two or more programs need to interact to generate a complete transaction.
  • The output script descriptor documentation has been updated with information about new features in this still-developing language for describing the output scripts that a wallet or other program wants to receive notifications for, such as which addresses it wants to know received payments. The language is currently used in multiple new and updated RPCs described in these release notes and is expected to be adapted to other RPCs and to the underlying wallet structure.

Build system changes

  • A new –disable-bip70 option may be passed to ./configure to prevent Litecoin-Qt from being built with support for the BIP70 payment protocol or from linking libssl. As the payment protocol has exposed Litecoin Core to libssl vulnerabilities in the past, builders who don’t need BIP70 support are encouraged to use this option to reduce their exposure to future vulnerabilities.
  • The minimum required version of Qt (when building the GUI) has been increased from 5.2 to 5.5.1 (the depends system provides 5.9.7)

New RPCs

  • getnodeaddresses returns peer addresses known to this node. It may be used to find nodes to connect to without using a DNS seeder.
  • listwalletdir returns a list of wallets in the wallet directory (either the default wallet directory or the directory configured by the -walletdir parameter).
  • getrpcinfo returns runtime details of the RPC server. At the moment, it returns an array of the currently active commands and how long they’ve been running.
  • deriveaddresses returns one or more addresses corresponding to an output descriptor.
  • getdescriptorinfo accepts a descriptor and returns information about it, including its computed checksum.
  • joinpsbts merges multiple distinct PSBTs into a single PSBT. The multiple PSBTs must have different inputs. The resulting PSBT will contain every input and output from all of the PSBTs. Any signatures provided in any of the PSBTs will be dropped.
  • analyzepsbt examines a PSBT and provides information about what the PSBT contains and the next steps that need to be taken in order to complete the transaction. For each input of a PSBT, analyzepsbt provides information about what information is missing for that input, including whether a UTXO needs to be provided, what pubkeys still need to be provided, which scripts need to be provided, and what signatures are still needed. Every input will also list which role is needed to complete that input, and analyzepsbt will also list the next role in general needed to complete the PSBT. analyzepsbt will also provide the estimated fee rate and estimated virtual size of the completed transaction if it has enough information to do so.
  • utxoupdatepsbt searches the set of Unspent Transaction Outputs (UTXOs) to find the outputs being spent by the partial transaction. PSBTs need to have the UTXOs being spent to be provided because the signing algorithm requires information from the UTXO being spent. For segwit inputs, only the UTXO itself is necessary. For non-segwit outputs, the entire previous transaction is needed so that signers can be sure that they are signing the correct thing. Unfortunately, because the UTXO set only contains UTXOs and not full transactions, utxoupdatepsbt will only add the UTXO for segwit inputs.

Updated RPCs

Note: some low-level RPC changes mainly useful for testing are described in the Low-level Changes section below.

  • getpeerinfo now returns an additional minfeefilter field set to the peer’s BIP133 fee filter. You can use this to detect that you have peers that are willing to accept transactions below the default minimum relay fee.
  • The mempool RPCs, such as getrawmempool with verbose=true, now return an additional “bip125-replaceable” value indicating whether the transaction (or its unconfirmed ancestors) opts-in to asking nodes and miners to replace it with a higher-feerate transaction spending any of the same inputs.
  • settxfee previously silently ignored attempts to set the fee below the allowed minimums. It now prints a warning. The special value of “0” may still be used to request the minimum value.
  • getaddressinfo now provides an ischange field indicating whether the wallet used the address in a change output.
  • importmulti has been updated to support P2WSH, P2WPKH, P2SH-P2WPKH, and P2SH-P2WSH. Requests for P2WSH and P2SH-P2WSH accept an additional witnessscript parameter.
  • importmulti now returns an additional warnings field for each request with an array of strings explaining when fields are being ignored or are inconsistent, if there are any.
  • getaddressinfo now returns an additional solvable boolean field when Litecoin Core knows enough about the address’s scriptPubKey, optional redeemScript, and optional witnessScript in order for the wallet to be able to generate an unsigned input spending funds sent to that address.
  • The getaddressinfo, listunspent, and scantxoutset RPCs now return an additional desc field that contains an output descriptor containing all key paths and signing information for the address (except for the private key). The desc field is only returned for getaddressinfo and listunspent when the address is solvable.
  • importprivkey will preserve previously-set labels for addresses or public keys corresponding to the private key being imported. For example, if you imported a watch-only address with the label “cold wallet” in earlier releases of Litecoin Core, subsequently importing the private key would default to resetting the address’s label to the default empty-string label (“”). In this release, the previous label of “cold wallet” will be retained. If you optionally specify any label besides the default when calling importprivkey, the new label will be applied to the address.
  • See the Mining section for changes to getblocktemplate.
  • getmininginfo now omits currentblockweight and currentblocktx when a block was never assembled via RPC on this node.
  • The getrawtransaction RPC & REST endpoints no longer check the unspent UTXO set for a transaction. The remaining behaviors are as follows: 1. If a blockhash is provided, check the corresponding block. 2. If no blockhash is provided, check the mempool. 3. If no blockhash is provided but txindex is enabled, also check txindex.
  • unloadwallet is now synchronous, meaning it will not return until the wallet is fully unloaded.
  • importmulti now supports importing of addresses from descriptors. A “desc” parameter can be provided instead of the “scriptPubKey” in a request, as well as an optional range for ranged descriptors to specify the start and end of the range to import. Descriptors with key origin information imported through importmulti will have their key origin information stored in the wallet for use with creating PSBTs. More information about descriptors can be found here.
  • listunspent has been modified so that it also returns witnessScript, the witness script in the case of a P2WSH or P2SH-P2WSH output.
  • createwallet now has an optional blank argument that can be used to create a blank wallet. Blank wallets do not have any keys or HD seed. They cannot be opened in software older than 0.18. Once a blank wallet has a HD seed set (by using sethdseed) or private keys, scripts, addresses, and other watch only things have been imported, the wallet is no longer blank and can be opened in 0.17.x. Encrypting a blank wallet will also set a HD seed for it.

Deprecated or removed RPCs

  • signrawtransaction is removed after being deprecated and hidden behind a special configuration option in version 0.17.0.
  • The ‘account’ API is removed after being deprecated in v0.17. The ‘label’ API was introduced in v0.17 as a replacement for accounts. See the release notes from v0.17 for a full description of the changes from the ‘account’ API to the ‘label’ API.
  • addwitnessaddress is removed after being deprecated in version 0.16.0.
  • generate is deprecated and will be fully removed in a subsequent major version. This RPC is only used for testing, but its implementation reached across multiple subsystems (wallet and mining), so it is being deprecated to simplify the wallet-node interface. Projects that are using generate for testing purposes should transition to using the generatetoaddress RPC, which does not require or use the wallet component. Calling generatetoaddress with an address returned by the getnewaddress RPC gives the same functionality as the old generate RPC. To continue using generate in this version, restart litecoind with the -deprecatedrpc=generate configuration option.
  • Be reminded that parts of the validateaddress command have been deprecated and moved to getaddressinfo. The following deprecated fields have moved to getaddressinfo: ismine, iswatchonly, script, hex, pubkeys, sigsrequired, pubkey, embedded, iscompressed, label, timestamp, hdkeypath, hdmasterkeyid.
  • The addresses field has been removed from the validateaddress and getaddressinfo RPC methods. This field was confusing since it referred to public keys using their P2PKH address. Clients should use the embedded.address field for P2SH or P2WSH wrapped addresses, and pubkeys for inspecting multisig participants.

REST changes

  • A new /rest/blockhashbyheight/ endpoint is added for fetching the hash of the block in the current best blockchain based on its height (how many blocks it is after the Genesis Block).

Graphical User Interface (GUI)

  • A new Window menu is added alongside the existing File, Settings, and Help menus. Several items from the other menus that opened new windows have been moved to this new Window menu.
  • In the Send tab, the checkbox for “pay only the required fee” has been removed. Instead, the user can simply decrease the value in the Custom Feerate field all the way down to the node’s configured minimum relay fee.
  • In the Overview tab, the watch-only balance will be the only balance shown if the wallet was created using the createwallet RPC and the disable_private_keys parameter was set to true.
  • The launch-on-startup option is no longer available on macOS if compiled with macosx min version greater than 10.11 (use CXXFLAGS=”-mmacosx-version-min=10.11″ CFLAGS=”-mmacosx-version-min=10.11″ for setting the deployment sdk version)

Tools

  • A new litecoin-wallet tool is now distributed alongside Litecoin Core’s other executables. Without needing to use any RPCs, this tool can currently create a new wallet file or display some basic information about an existing wallet, such as whether the wallet is encrypted, whether it uses an HD seed, how many transactions it contains, and how many address book entries it has.

Planned changes

This section describes planned changes to Litecoin Core that may affect other Litecoin software and services.

  • Since version 0.16.0, Litecoin Core’s built-in wallet has defaulted to generating P2SH-wrapped segwit addresses when users want to receive payments. These addresses are backwards compatible with all widely-used software. Starting with Litecoin Core 0.20 (expected about a year after 0.18), Litecoin Core will default to native segwit addresses (bech32) that provide additional fee savings and other benefits. Currently, many wallets and services already support sending to bech32 addresses, and if the Litecoin Core project sees enough additional adoption, it will instead default to bech32 receiving addresses in Litecoin Core 0.20. P2SH-wrapped segwit addresses will continue to be provided if the user requests them in the GUI or by RPC, and anyone who doesn’t want the update will be able to configure their default address type. (Similarly, pioneering users who want to change their default now may set the addresstype=bech32 configuration option in any Litecoin Core release from 0.16.0 up.)

Deprecated P2P messages

  • BIP 61 reject messages are now deprecated. Reject messages have no use case on the P2P network and are only logged for debugging by most network nodes. Furthermore, they increase bandwidth and can be harmful for privacy and security. It has been possible to disable BIP 61 messages since v0.17 with the -enablebip61=0 option. BIP 61 messages will be disabled by default in a future version, before being removed entirely.

Low-level changes

This section describes RPC changes mainly useful for testing, mostly not relevant in production. The changes are mentioned for completeness.

RPC

  • The submitblock RPC previously returned the reason a rejected block was invalid the first time it processed that block, but returned a generic “duplicate” rejection message on subsequent occasions it processed the same block. It now always returns the fundamental reason for rejecting an invalid block and only returns “duplicate” for valid blocks it has already accepted.
  • A new submitheader RPC allows submitting block headers independently from their block. This is likely only useful for testing.
  • The signrawtransactionwithkey and signrawtransactionwithwallet RPCs have been modified so that they also optionally accept a witnessScript, the witness script in the case of a P2WSH or P2SH-P2WSH output. This is compatible with the change to listunspent.
  • For the walletprocesspsbt and walletcreatefundedpsbt RPCs, if the bip32derivs parameter is set to true but the key metadata for a public key has not been updated yet, then that key will have a derivation path as if it were just an independent key (i.e. no derivation path and its master fingerprint is itself).

Configuration

  • The -usehd configuration option was removed in version 0.16. From that version onwards, all new wallets created are hierarchical deterministic wallets. This release makes specifying -usehd an invalid configuration option.

Network

  • This release allows peers that your node automatically disconnected for misbehavior (e.g. sending invalid data) to reconnect to your node if you have unused incoming connection slots. If your slots fill up, a misbehaving node will be disconnected to make room for nodes without a history of problems (unless the misbehaving node helps your node in some other way, such as by connecting to a part of the Internet from which you don’t have many other peers). Previously, Litecoin Core banned the IP addresses of misbehaving peers for a period of time (default of 1 day); this was easily circumvented by attackers with multiple IP addresses. If you manually ban a peer, such as by using the setban RPC, all connections from that peer will still be rejected.

Wallet

  • The key metadata will need to be upgraded the first time that the HD seed is available. For unencrypted wallets this will occur on wallet loading. For encrypted wallets this will occur the first time the wallet is unlocked.
  • Newly encrypted wallets will no longer require restarting the software. Instead such wallets will be completely unloaded and reloaded to achieve the same effect.
  • A sub-project of Litecoin Core now provides Hardware Wallet Interaction (HWI) scripts that allow command-line users to use several popular hardware key management devices with Litecoin Core. See their project page for details.

Security

  • This release changes the Random Number Generator (RNG) used from OpenSSL to Litecoin Core’s own implementation, although entropy gathered by Litecoin Core is fed out to OpenSSL and then read back in when the program needs strong randomness. This moves Litecoin Core a little closer to no longer needing to depend on OpenSSL, a dependency that has caused security issues in the past. The new implementation gathers entropy from multiple sources, including from hardware supporting the rdseed CPU instruction.

Changes for particular platforms

  • On macOS, Litecoin Core now opts out of application CPU throttling (“app nap”) during initial blockchain download, when catching up from over 100 blocks behind the current chain tip, or when reindexing chain data. This helps prevent these operations from taking an excessively long time because the operating system is attempting to conserve power.

Download Binaries

To download, please visit the download page here. Alternatively, you can view the download folder here.

Please use GPG to verify the integrity of the release binaries. This ensures that the binary you have downloaded has not been tampered with. Linux, MacOS and Win32 cygwin command line GPG instructions are available here. Please also note that we GPG sign the binaries as a convenience to you, the ultimate way to verify the integrity of the builds is to build them yourself using Gitian. Instructions on how to perform these builds, can be found here.

For this release, the binaries have been signed with key identifier FE3348877809386C (thrasher’s key).

WARNING

Despite this version being heavily tested, this version may still contain bugs. Always backup your wallet.dat file before upgrading. If you encounter any issues, please let us know by posting to the bug reporting section below.

Source code & Build instructions

The master branch contains the latest commits to the next stable releases of Litecoin Core.

litecoin-project/litecoin

Build instructions for Linux can be found here.

Build instructions for OSX can be found here.

Builds instructions for Windows can be found here.

Bug Reporting

Submit any issues you encounter here and one of the Litecoin developers will assist you.

litecoin-project/litecoin

Mailing Lists

Sign up for announcements only or development discussion.

  • litecoin-announce
  • litecoin-dev

Hashes for verification

These are the SHA-256 hashes of the released files:

b8a118e94703e84128bec31a99a59b91af54edb1b0470b970cec3809fc8753ae  litecoin-0.18.1-aarch64-linux-gnu.tar.gz
7a47b11065c86a661eec3eb5ba8d157d65ac7e16930fbd381e519d4dcbf86574 litecoin-0.18.1-arm-linux-gnueabihf.tar.gz
58be96c96f7579f05acb3b544698a3e1cd8ede8fb10874ccc7ce1ee9de4f3fc0 litecoin-0.18.1-i686-pc-linux-gnu.tar.gz
8798e030235e2099a456f06a8488a5567641058885965da03036538fa57df0a6 litecoin-0.18.1-osx64.tar.gz
68f4348cb9aa913845a94bcc93718b83b593999ed41e245cdfed0477ec1a9631 litecoin-0.18.1rc1-osx.dmg
7b7f78588340d26b222ff927c7bbfa5eafa68d80b8408d1835f537361a4d9123 litecoin-0.18.1rc1-win32-setup.exe
b76f31c9e7341ffb21f655cfa217ee50b9cde4e10f117eba7167aff85a57e769 litecoin-0.18.1rc1-win64-setup.exe
00e05c776d57443127ed4a75c5a27b3789f8f7bbf01edb668bfa75ac138a49d3 litecoin-0.18.1-riscv64-linux-gnu.tar.gz
6dfa71ccf059463f0a304f85ff1ca8b88039d63e93269d6f056ab24915be936d litecoin-0.18.1.tar.gz
4aea854431c495f43bf3665fc6c0e18f2e6a0caf2b5c4682b8aca4875650c5ad litecoin-0.18.1-win32.zip
fa47ab17be61a924ac5dcba251cbea919aef7ff2dabe7803a6b3af402ef1fe75 litecoin-0.18.1-win64.zip
3c8d2cd2cc06645fc553ced8361c6951eef50e09dc2334268625902bcdb18f76 litecoin-0.18.1-x86_64-linux-gnu.tar.gz

Credits

Thanks to everyone who directly contributed to this release:

  • The Bitcoin Core Developers
  • Adrian Gallagher
  • aunyks
  • coblee
  • cryptonexii
  • EP1JUNE
  • gabrieldov
  • jmutkawoa
  • Loshan
  • Martin Smith
  • NeMO84
  • OlegKozhemiakin
  • ppm0
  • romanornr
  • shaolinfry
  • spl0i7
  • stedwms
  • ultragtx
  • VKoskiv
  • voidmain
  • wbsmolen
  • xinxi


Litecoin Core v0.18.1 Release Candidate was originally published in Litecoin Project on Medium, where people are continuing the conversation by highlighting and responding to this story.

Price Analysis 5/4: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, XLM – BTC Ethereum Crypto Currency Blog

Several major cryptocurrencies are facing selling at higher levels but the fact that traders are buying on the dips suggests further range-bound action is likely.

Jefferies Greed & Fear email written by Christopher Wood recommends both retail and institutional investors buy Bitcoin (BTC) ahead of the upcoming halving which is less than eight days away. They anticipate that a rally after the event will be similar to the previous two halvings. Jefferies recommends that investors use Bitcoin to diversify their portfolio, similar to gold.

However, forecasting a rally post halving just because the top-ranked cryptocurrency on CoinMarketCap has done so previously might not play out as expected. During the previous two halvings, the main participants were early crypto adopters but that is not the case now. 

Since the last bull market several new traders have entered the space and became rich in a short time period. Therefore, after every small rally, talks about a strong bull run can be heard. If speculators buy Bitcoin in anticipation of a strong rally post halving that does not materialize, then a sell-off is likely. 

Daily cryptocurrency market performance. Source: Coin360

However, the profit booking is unlikely to result in a massive sell-off because Bitcoin has held exceedingly well during the current crisis. Therefore, strong demand is likely to kick in at lower levels. The volatility is likely to remain high in the next few days leading to halving and a few days after the event. This could offer excellent trading opportunities to the short-term trader who can enter and exit positions quickly without waiting for a home run on every trade.    

This view will be invalidated if the world faces a black swan event. If that happens, panic might set in again and result in a sharp drop in prices.

BTC/USD

Bitcoin (BTC), turned down from $9,190.82 on May 3. The traders could have booked partial profits at this level as suggested in the previous analysis.

BTC–USD daily chart. Source: Tradingview

The sharp bounce off today’s low at $8,526.38 suggests strong buying by the bulls on dips. Both moving averages are sloping up and the relative strength index remains close to the overbought zone, which suggests that bulls are in command. 

A pennant can be spotted on the charts. If the bulls can break out of this setup, the uptrend is likely to resume. The target objective of this pennant is $10,857.89, which is close to the resistance line of the symmetrical triangle.

However, the bears are unlikely to give up easily. They would attempt to stall the rally at $10,000 and again at $10,500. 

This bullish view will be invalidated if the pair breaks down of the pennant. In such a case, a drop to the 20-day exponential moving average ($7,961) is likely. For now, the stops on the rest of the long position can be trailed just below the 20-day EMA.

ETH/USD

Ether (ETH) turned down from the resistance line of the ascending channel on May 3. This attracted profit booking by the short-term traders, which resulted in a drop to the 20-day EMA ($192). 

ETH–USD daily chart. Source: Tradingview

This triggered the stop-loss on 50% of the long positions at $200 as suggested in the previous analysis. Stops on the rest of the position can be retained at $185 to give a larger wiggle room to the 2nd-ranked cryptocurrency on CoinMarketCap.

The sharp bounce off the 20-day EMA is a positive sign as it shows strong buying by the bulls on dips. The bulls will make another attempt to push the price above the channel.

If successful, the ETH/USD pair is likely to pick up momentum and rally to $250 and then to $289.599. The trend will turn in favor of the bears if the pair breaks below the channel.

XRP/USD

XRP has once again bounced off the $0.20570 support today, which is a positive sign. This shows that the bulls are defending this level aggressively. They will now try to carry the altcoin to the overhead resistance of $0.24560. 

XRP–USD daily chart. Source: Tradingview

The upsloping moving averages and the RSI above the 60 level suggest that bulls have the upper hand. A break above $0.24560 can result in a move to the long-term downtrend line at about $0.28.

However, if the bulls struggle to propel the 3rd-ranked cryptocurrency on CoinMarketCap above $0.24560, traders can book partial profits on their long positions and trail the stop-loss on the rest of the position to $0.20. Below this level, a drop to $0.17372 is possible.

BCH/USD

The failure of the bulls to propel Bitcoin Cash (BCH) above $280.47 might keep it range-bound between $200-$280.47 for a few more days. Both moving averages are flat and the RSI is close to 50, which suggests a balance between supply and demand.

BCH–USD daily chart. Source: Tradingview

If the bears sink the 5th-ranked cryptocurrency on CoinMarketCap below the moving averages, a drop to $200 is possible. Therefore, the stop-loss on the long positions can be retained at $230.

Conversely, if the BCH/USD pair bounces off the 20-day EMA, the bulls might make one more attempt to push the price above $280.47. If successful, a new uptrend is likely.

BSV/USD

Bitcoin SV (BSV) continues to remain range-bound between $170-$227. The failure of the bulls to propel the price above the range attracted profit booking. The altcoin dipped below the 20-day EMA today, which triggered the stop-loss on the long positions suggested in the previous analysis.  

BSV–USD daily chart. Source: Tradingview

Both moving averages have flattened out and the RSI is just above the midpoint, which also points to a few more days of consolidation.

The advantage will tilt in favor of the bulls if they can propel the 6th-ranked cryptocurrency on CoinMarketCap above the range. Such a move will signal the start of a new uptrend, which will offer another opportunity to the traders to initiate long positions. Conversely, a break below $170 will signal that bears have the upper hand.

LTC/USD

Litecoin (LTC) turned down from $50.0351 on May 3, which shows that the bears are aggressively defending the $50-$52.2803 zone. The bulls are currently attempting to defend the 20-day EMA ($45). 

LTC–USD daily chart. Source: Tradingview

If successful, the bulls will make one more attempt to carry the 7th-ranked cryptocurrency on CoinMarketCap above the resistance zone. If the price sustains above the zone, a rally to $63.8769 is likely. 

The upsloping moving averages and the RSI in the positive zone suggests a slight advantage to the bulls.

This view will be invalidated if the bears sink the LTC/USD pair below the 20-day EMA and the support at $43.67. If this support zone breaks, a drop to $40 is possible. Therefore, the stops on the long positions can be kept at $42.

BNB/USD

Binance Coin (BNB) has pulled back to the 20-day EMA ($16.26) after failing to sustain above the overhead resistance of $17.4775. This suggests that the bears are aggressively defending this level.

BNB–USD daily chart. Source: Tradingview

If the 8th-ranked crypto-asset on CoinMarketCap rebounds off the 20-day EMA, it will be a positive sign. Such a move will increase the possibility of a breakout of $17.4775. Above this level, a rally to $21.50 is likely.

Conversely, if the bears sink the price below the 20-day EMA, it will signal a lack of buyers at these levels. Below this level, a drop to $13.65 is possible. Therefore, the traders can retain the stop-loss on the long positions at $15.50.

EOS/USD

EOS has broken below the $2.8319 support, which suggests that the momentum has weakened. The bulls are currently attempting to defend the uptrend line. If successful, the bulls will make one more attempt to carry the price to $3.1802.

EOS–USD daily chart. Source: Tradingview

Currently, both moving averages are flat and the RSI is close to the midpoint, which suggests a balance between buyers and sellers.

The advantage will tilt in favor of the bears if the 9th-ranked cryptocurrency on CoinMarketCap breaks below the uptrend line. Below this level, a deeper pullback to $2.3314 is possible. Therefore, the stop-loss on the long positions can be retained at $2.50.

Conversely, a breakout of $3.1802 will signal that bulls are in command and a rally to $3.8811 will be on the cards.

XTZ/USD

Tezos (XTZ) pulled back to the critical support of $2.55900337 today. The 20-day EMA is placed just below this level. Hence, this level is acting as a strong support. With both moving averages sloping up and the RSI above 60 levels, the advantage is with the bulls.

XTZ–USD daily chart. Source: Tradingview

If the 10th-ranked cryptocurrency on CoinMarketCap breaks above the small downtrend line, a rally to the $3.07369598-$3.2712 resistance zone is likely. This zone might act as a stiff resistance, hence, the traders can book profits if the bulls struggle to scale the price above it.

Conversely, if the XTZ/USD pair breaks below $2.55900337, a drop to the support line of the ascending channel is likely. Therefore, the traders can retain the stop-loss on the remaining long positions at $2.55. 

XLM/USD

Stellar Lumens (XLM) rallied and closed (UTC time) above the overhead resistance of $0.073434 on May 2. This suggested that the bulls were in command and a move to $0.089238 was on the cards.

XLM–USD daily chart. Source: Tradingview

However, the 11th-ranked cryptocurrency on CoinMarketCap turned around on May 3 and plunged back below $0.073434. Interestingly, this was the fifth consecutive time the price had pulled back after the RSI had reached overbought levels (marked as ellipses on the chart).

Barring the pullback in Jan. of this year, all other pullbacks had resulted in a sharp decline. Therefore, the critical level to watch out for is $0.062805. If the XLM/USD pair sustains above this level, the bulls will make one more attempt to push the price above $0.073434. If successful, a rally to $0.089238 is likely.

Conversely, if the bears sink the pair below $0.062805, it will signal weakness. Below this level, the decline can extend to the 50-day simple moving average ($0.049).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Original Article
Author: btcethereumadmin

Litecoin Mimblewimble Integration Sees Test Build and Codebase Progress – BTC Ethereum Crypto Currency Blog

Litecoin and Grin++ developer, David Burkett, has posted an April progress update on Litecoin’s Mimblewimble integration, claiming that a testing framework has been built and codebase integration has started.

The lead developer on the Litecoin Mimblewimble (MW) project, David Burkett, has now built a functional testing framework and started to integrate the development work done so far into the Litecoin codebase.

According to a May 1 report on the Litecointalk forums, the project to implement the MW privacy enhancements into Litecoin has reached an important milestone with the build of a test-bed. Burkett claims that he has also run some end-to-end validation tests through the framework.

“I’ve built out a functional testing framework that builds valid headers, blocks, and transactions. I’ve now got some (mostly) complete end-to-end block validation tests,” he said.

As Cointelegraph reported in March, Burkett predicted that MW would be running on the Litecoin testnet by the end of the summer. This is a significant step towards that goal.

Codebase integration

Burkett has also begun to integrate his work with the Litecoin codebase, initially focusing on the ConnectBlock logic. This part of the code validates blocks before adding them to the chain.

While Burkett was still unsure as to which specific area to tackle next, he did state that his high-level plan involved continued codebase integration and “lots more testing.”

Burkett also gave an update on his other project, Grin++, which has just achieved release candidate v1.0.0 status, marking its “first non-beta version.” Grin++ featured the first implementation of the Mimblewimble privacy protocol, back in January 2019.

Mimblewimble was first revealed in 2016 when its white paper — authored by an individual acting under the pen name Tom Elvis Jedusor — appeared on a Bitcoin research channel.

The protocol aims to improve blockchain privacy, scalability, and fungibility by combining transactions in a CoinJoin. As a result, blocks on the network comprise a list of all input, output, and signature data, which obscure transaction data for any third party monitoring the network.

Original Article
Author: btcethereumadmin