Tuesday, November 5, 2019
Bitcoin Keeps Failing at This Key Price Hurdle
Omkar Godbole Nov 5, 2019 at 11:00 UTC
https://www.coindesk.com/author/ogodbole
A four-month falling trendline proved a tough nut to crack during the Asian trading hours and reversed bitcoin’s rise from $9,200 to $9,500. The outlook, however, would turn bearish only below the 200-day average support at $9,127.
The pullback from $9,500 to $9,200 lacked volume support and could be short-lived.
A high-volume UTC close above $9,470 is needed to confirm an upside break of the multi-month falling trendline and open the doors for $13,880 (2019 high).
Acceptance below the 200-day MA would weaken the immediate bullish. The resulting sell-off to $8,500, if any, will likely be transient.
Bitcoin’s (BTC) struggle for a bullish breakout continues with a falling trendline capping gains for the fifth time in 11 days.
The top cryptocurrency is currently trading in the red near $9,300 on Bitstamp, having faced rejection near $9,470 – the resistance of the trendline connecting June 26 and Aug. 6 highs – during the Asian trading hours.
The four-month trendline sloping downwards from the 2019 high of $13,880 first came into play on Oct. 31. On that day, prices clocked a high of $10,350 but failed to print a UTC close above the resistance line.
Similar price action was seen on the following two days and on Monday when prices rose from $9,200 to a one-week high of $9,586 but failed to beat the trendline hurdle.
The repeated failure to scale the multi-month downtrend line may force some investors to question the sustainability of the recent rise from five-month lows below $9,500.
However, such fears may be premature, as prices are still holding above the 200-day MA support, a barometer of long-term market trends, as seen in the chart below.
BTC is again struggling to get past the descending trendline, currently at $9,470. Even so, it is early to call a bearish reversal, as the 200-day MA support at $9,127 is intact.
The average has been restricting downside since Oct. 30, having worked as resistance multiple times in the 16 days to Oct. 11.
All-in-all, BTC is being squeezed between the long-term average support and the falling trendline resistance.
A high-volume UTC close above $9,470 is needed to confirm an upside break of the falling trendline. That would imply a resumption of the bull market from lows near $4,100 seen at the beginning of April and open the doors for resistance at $13,880.
On the downside, acceptance below the long-held 200-day MA support at $9,127 will likely invite stronger selling pressure, leading to a drop to $8,500.
A bullish breakout looks likely, as the cryptocurrency tends to pick up a strong bid six months ahead of reward halving, as discussed last week.
Note that the recent pullback from $10,350 lacked volume support. Essentially, it represents a bull breather and could be reversed.
Hourly chart
BTC jumped from $9,273 to $9,586 in the 60 minutes to 22:00 UTC on Monday with buying volume (green bar) hitting the highest level since Oct. 31.
Indeed, the spike has been erased with prices falling to $9,165 a few hours ago but with weak trading volumes. Therefore, the possibility of BTC rising back to highs near $9,600 cannot be ruled out.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
https://www.coindesk.com/bitcoin-keeps-failing-at-this-key-price-hurdle
https://www.coindesk.com/author/ogodbole
A four-month falling trendline proved a tough nut to crack during the Asian trading hours and reversed bitcoin’s rise from $9,200 to $9,500. The outlook, however, would turn bearish only below the 200-day average support at $9,127.
The pullback from $9,500 to $9,200 lacked volume support and could be short-lived.
A high-volume UTC close above $9,470 is needed to confirm an upside break of the multi-month falling trendline and open the doors for $13,880 (2019 high).
Acceptance below the 200-day MA would weaken the immediate bullish. The resulting sell-off to $8,500, if any, will likely be transient.
Bitcoin’s (BTC) struggle for a bullish breakout continues with a falling trendline capping gains for the fifth time in 11 days.
The top cryptocurrency is currently trading in the red near $9,300 on Bitstamp, having faced rejection near $9,470 – the resistance of the trendline connecting June 26 and Aug. 6 highs – during the Asian trading hours.
The four-month trendline sloping downwards from the 2019 high of $13,880 first came into play on Oct. 31. On that day, prices clocked a high of $10,350 but failed to print a UTC close above the resistance line.
Similar price action was seen on the following two days and on Monday when prices rose from $9,200 to a one-week high of $9,586 but failed to beat the trendline hurdle.
The repeated failure to scale the multi-month downtrend line may force some investors to question the sustainability of the recent rise from five-month lows below $9,500.
However, such fears may be premature, as prices are still holding above the 200-day MA support, a barometer of long-term market trends, as seen in the chart below.
BTC is again struggling to get past the descending trendline, currently at $9,470. Even so, it is early to call a bearish reversal, as the 200-day MA support at $9,127 is intact.
The average has been restricting downside since Oct. 30, having worked as resistance multiple times in the 16 days to Oct. 11.
All-in-all, BTC is being squeezed between the long-term average support and the falling trendline resistance.
A high-volume UTC close above $9,470 is needed to confirm an upside break of the falling trendline. That would imply a resumption of the bull market from lows near $4,100 seen at the beginning of April and open the doors for resistance at $13,880.
On the downside, acceptance below the long-held 200-day MA support at $9,127 will likely invite stronger selling pressure, leading to a drop to $8,500.
A bullish breakout looks likely, as the cryptocurrency tends to pick up a strong bid six months ahead of reward halving, as discussed last week.
Note that the recent pullback from $10,350 lacked volume support. Essentially, it represents a bull breather and could be reversed.
Hourly chart
BTC jumped from $9,273 to $9,586 in the 60 minutes to 22:00 UTC on Monday with buying volume (green bar) hitting the highest level since Oct. 31.
Indeed, the spike has been erased with prices falling to $9,165 a few hours ago but with weak trading volumes. Therefore, the possibility of BTC rising back to highs near $9,600 cannot be ruled out.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
https://www.coindesk.com/bitcoin-keeps-failing-at-this-key-price-hurdle
U.S. Federal Reserve Job Posting Shows It's Looking Into Digital Currencies
A new job opening posted by the U.S. Federal Reserve, the country’s central bank, shows it’s looking into using digital currencies, stablecoins, and blockchain technology for payments.
The Federal Reserve is looking to hire a manager to oversee its traditional payments section, but has added digital currency-related responsibilities to the role, which is will be based in Washington, D.C. The candidate would oversee its Retail Payments Section and manage check and automated clearinghouse services, while facilitating research in payments innovation.
The role will also require the manager to address policy and regulatory issues related to retail payments systems. Besides all of this, the manager will also be responsible for:
Facilitating and contributing to innovations research including digital currencies, stable coins, distributed ledger technologies, and broadly financial/digital innovation in retail payments.
As reported last month the Federal Reserve has revealed it’s looking into issuing a “digital dollar,” over concerns related to the potential development of digital currencies that could threaten the U.S. dollar’s position as the global reserve currency.
The central bank started considering a digital dollar after receiving a request from two Congressmen to do so. This at a time in which China’s president said the country should seize its opportunity to adopt blockchain technology, as the country is getting ready to launch its own digital currency.
https://www.cryptoglobe.com/latest/2019/11/u-s-federal-reserve-job-posting-shows-it-s-looking-into-digital-currencies/
The Federal Reserve is looking to hire a manager to oversee its traditional payments section, but has added digital currency-related responsibilities to the role, which is will be based in Washington, D.C. The candidate would oversee its Retail Payments Section and manage check and automated clearinghouse services, while facilitating research in payments innovation.
The role will also require the manager to address policy and regulatory issues related to retail payments systems. Besides all of this, the manager will also be responsible for:
Facilitating and contributing to innovations research including digital currencies, stable coins, distributed ledger technologies, and broadly financial/digital innovation in retail payments.
As reported last month the Federal Reserve has revealed it’s looking into issuing a “digital dollar,” over concerns related to the potential development of digital currencies that could threaten the U.S. dollar’s position as the global reserve currency.
The central bank started considering a digital dollar after receiving a request from two Congressmen to do so. This at a time in which China’s president said the country should seize its opportunity to adopt blockchain technology, as the country is getting ready to launch its own digital currency.
https://www.cryptoglobe.com/latest/2019/11/u-s-federal-reserve-job-posting-shows-it-s-looking-into-digital-currencies/
Two Congressmen ask FED to start national cryptocurrency #Bitcoin 9/30/19
U.S. Federal Reserve chairman Jay Powell has been asked by two Congressmen to consider developing a national digital currency.
In a letter dated September 30, French Hill, member of Congress for Arkansas, and Illinois Congressman Bill Foster, began by saying the nature of money is changing. The letter continued:
With the potential for digital currencies to further take on the characteristics and utility of paper money, it may become increasingly imperative that the Federal Reserve take up the project of developing a US dollar digital currency.
Their letter concluded with six questions they wanted the Fed chairman to answer:
Is the Fed exploring the development of a dollar digital currency?
What plans are the Fed making to respond if digital fiat currencies and their private sector equivalents begin to gain traction?
What legal, regulatory or national security issues would prevent the Fed's development of a digital dollar?
What benefits or detriments do you see the Fed incurring in developing a digital dollar relating to its mandate and policy goals?
What are the market risks in the development - or failure to develop - a national digital currency?
What design features would have to be considered?
There may be reason for the lawmakers to be concerned, as some have called for a global digital currency to replace the U.S. dollar as the world's reserve currency. Specifically, Mark Carney recommended replacing the dolalr with a "Libra-like" digital currency.
https://www.cryptoglobe.com/latest/2019/10/fed-requested-by-congress-to-consider-developing-a-digital-dollar/
In a letter dated September 30, French Hill, member of Congress for Arkansas, and Illinois Congressman Bill Foster, began by saying the nature of money is changing. The letter continued:
With the potential for digital currencies to further take on the characteristics and utility of paper money, it may become increasingly imperative that the Federal Reserve take up the project of developing a US dollar digital currency.
Their letter concluded with six questions they wanted the Fed chairman to answer:
Is the Fed exploring the development of a dollar digital currency?
What plans are the Fed making to respond if digital fiat currencies and their private sector equivalents begin to gain traction?
What legal, regulatory or national security issues would prevent the Fed's development of a digital dollar?
What benefits or detriments do you see the Fed incurring in developing a digital dollar relating to its mandate and policy goals?
What are the market risks in the development - or failure to develop - a national digital currency?
What design features would have to be considered?
There may be reason for the lawmakers to be concerned, as some have called for a global digital currency to replace the U.S. dollar as the world's reserve currency. Specifically, Mark Carney recommended replacing the dolalr with a "Libra-like" digital currency.
https://www.cryptoglobe.com/latest/2019/10/fed-requested-by-congress-to-consider-developing-a-digital-dollar/
The Rothschilds, a pamphlet by ‘Satan’ and conspiracy theories tied to a battle 200 years ago
By Michael S. Rosenwald | The Washington Post
In early 2011, a branch of the very rich Rothschild family bought a controlling stake in Weather Central, a provider of weather forecasts to hundreds of broadcasters.
“As weather becomes more extreme around the planet, with greater human and financial ramifications,” Sir Evelyn de Rothschild said in a news release, “we believe that Weather Central will play a major role in mitigating damage and improving lives.”
This was big news in meteorology and broadcasting circles: It appeared the Rothschilds, a prominent business family, wanted to take on the Weather Channel to expand its media holdings.
This also was big news for conspiracy theorists: To them, it appeared the Rothschilds, a prominent Jewish family who made a fortune in European banking in the 1700s, wanted to control the weather and profit from natural disasters.
https://www.mercurynews.com/2018/03/20/the-rothschilds-a-pamphlet-by-satan-and-conspiracy-theories-tied-to-a-battle-200-years-ago/
In early 2011, a branch of the very rich Rothschild family bought a controlling stake in Weather Central, a provider of weather forecasts to hundreds of broadcasters.
“As weather becomes more extreme around the planet, with greater human and financial ramifications,” Sir Evelyn de Rothschild said in a news release, “we believe that Weather Central will play a major role in mitigating damage and improving lives.”
This was big news in meteorology and broadcasting circles: It appeared the Rothschilds, a prominent business family, wanted to take on the Weather Channel to expand its media holdings.
This also was big news for conspiracy theorists: To them, it appeared the Rothschilds, a prominent Jewish family who made a fortune in European banking in the 1700s, wanted to control the weather and profit from natural disasters.
https://www.mercurynews.com/2018/03/20/the-rothschilds-a-pamphlet-by-satan-and-conspiracy-theories-tied-to-a-battle-200-years-ago/
Monday, November 4, 2019
If you want to know the real insider story on 4Chan, 8Chan and 8Kun here it is in all it's insider glory. Amazing tale....
Replatforming #8Kun and the Tragedy of #JudasAssChariot’s (@HW_BEAT_THAT) Bad Choices. @DigitalOcean #QAnon #GreatAwakening #NEONREVOLT
November 2, 2019 by Neon Revolt
I still feel bad for him. Fredrick Brennan has not had an easy life by any stretch of the imagination.
But he’s still a man and he’s still responsible for his choices and decisions. And I need to treat him as such. To hold back on him would be to acknowledge him as an inferior.
Thus, I have to write what I’m about to write.
I didn’t want to write this. I didn’t want to publish this. And honestly, I really hope he gets his mind and his heart straightened out – but the underlying issues need to be presented to the public so that a fuller discourse – in which there are always two sides to any issue – can be presented. Especially to any companies or representatives who have been contacted by Fredrick, and why he may be obsessively seeking to deplatform an entirely legitimate, free-speech-based business.
continued....
Sunday, November 3, 2019
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