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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Bitcoin Increases But Struggles to Sustain Prices Above $13,000

On Oct 23, Bitcoin (BTC) continued the upward move which had accelerated on Oct 19. While the long-term trend is likely bullish, a short-term drop could occur before the price resumes its upward movement. Bitcoin Continues Ascent On Oct 23, Bitcoin continued its upward movement by creating another bullish candlestick that was slightly smaller than […]

The post Bitcoin Increases But Struggles to Sustain Prices Above $13,000 appeared first on BeInCrypto.

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On Oct 23, Bitcoin (BTC) continued the upward move which had accelerated on Oct 19.

While the long-term trend is likely bullish, a short-term drop could occur before the price resumes its upward movement.

Bitcoin Continues Ascent

On Oct 23, Bitcoin continued its upward movement by creating another bullish candlestick that was slightly smaller than the candle that preceding it. Furthermore, yesterday’s wick-high of $13,208 was lower than that of Oct 22, which reached $13,235.

Despite this development, there is no visible weakness in the daily time-frame. The MACD, RSI, and Stochastic oscillator are increasing and there is no bearish divergence present.

Bitcoin Daily MovementBitcoin Daily Movement
BTC Chart By TradingView

Short-Term Double-Top

The short-term chart for BTC does show some signs of weakness, however. On Oct 21, BTC created a shooting star candlestick (blue arrow in the image below), which was the first bearish sign during the upward move.

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Yesterday, the increase that failed to reach the previous high was combined with significant bearish divergence in both the RSI and the MACD, the latter of which has almost crossed into negative.

BTC Short-Term Double TopBTC Short-Term Double Top
BTC Chart By TradingView

Possible Retracement

The Oct 21 high might have marked the top of the third sub-wave (shown in blue below), which is a part of a larger third wave (orange).

Considering the short-term bearish implications from the previous section, a retracement is expected. Even though there are no clear support levels below the current price, we can use Fib retracement levels to determine where the retracement will most likely end.

The price could drop to the 0.382 Fib level of sub-wave 3 at $12,125. The reason for this shallow retracement is a counter to the deep retracement of sub-wave 2, which went all the way down below the 0.618 Fib level. Because of the concept of alternation, we would expect to see the opposite in sub-wave 4.

BTC Wave CountBTC Wave Count
BTC Chart By TradingView

To conclude, while it is likely that BTC is bullish in the longer-term and will move higher, a short-term retracement is expected before the price resumes its upward movement.

For BeInCrypto’s previous Bitcoin analysis, click here!

Disclaimer: Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

Source: https://beincrypto.com/bitcoin-increases-but-struggles-to-sustain-prices-above-13000/

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The Best Place to Short Bitcoin is Above $14K, Analyst Explains Why

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Bitcoin bulls will enjoy domination over the market until its price breaches the $14,000-mark, according to Eugene Loza of EXCAVO.

The independent market analyst wrote in his note to investors that he expects to see traders with more exposure in Long trades than the Short ones. He signified his prediction with a technical structure. It envisioned BTC/USD inside an Ascending Channel pattern, inching upward as it awaits to test a sequence of Fibonacci resistance and support levels.

Bitcoin, BTCUSD, XBTUSD, BTCUSDT, cryptocurrency

Bitcoin trade setup, as presented by Eugene Loza. Source: BTCUSD on TradingView.com

The smaller Fibonacci retracement graph in the chart above expired at $12,283 after Bitcoin breached the level on Wednesday. Simultaneously, the cryptocurrency closed in towards the 61.8% level – at $13,037 – of the bigger Fib setup, awaiting a breakout move to the upside.

An $11K Bitcoin Possible

Mr. Loza supported the outlook of an extended bullish move, noting that $13,037 is “not the best place for a short [position].” He added that those who are still trading against Bitcoin’s upside outlook would risk getting liquidated at around $13,350 at a loss.

That would leave Bitcoin with the possibilities of moving further higher towards the 78.6% level of the big Fib. That is around $15,728.

Mr. Loza said that opening a short position anywhere between $14,000 and $15,728 is a “better” call. The range also lies near the upper trendline of the Ascending Channel pattern.

“Once we take the target, there is a possibility of correction to the middle line of the ascending channel,” Mr. Loza added.

The mid-level is below $11,000.

More Downside Outlooks

Mr. Loza’s statements came amid a period of strong buying enthusiasm for Bitcoin. The cryptocurrency this week gained global recognition after PayPal, the world’s leading payments service company, announced to integrate it in its existing line of products.

Before PayPal, its top rival Square, a firm headed by Twitter CEO Jack Dorsey, had shown $50 million worth of BTC in its balance sheets. Another recognized corporation, MicroStrategy, also reallocated $425 million of its cash reserve to Bitcoin, citing its fears of US dollar devaluation amid rising M2 and ultralow interest rates.

Traders assessed the sequence of events as validation of Bitcoin’s growth among prominent firms, both as a service and a financial asset. As a result, the Long positions on BTC/USD jumped dramatically higher than the Short ones, validating that the majority believes Bitcoin is underpriced at current rates.

Michaël van de Poppe, another independent market analyst, showed caution towards overly bullish statements. He said Bitcoin should hold the $12,750-12,800 range to sustain its upside bias. Otherwise, the cryptocurrency risks plunging “towards $12,200 and potentially $11,900.”

Bitcoin, BTCUSD, XBTUSD, BTCUSDT, cryptocurrency

Bitcoin trade setup, as presented by Michaël van de Poppe. Source: BTCUSD on TradingView.com

Mr. Poppe’s medium-term outlook, at the same time, projected an upside continuation towards $14,000. He nevertheless reiterated that “the area between $11,200-11,700” would serve as support.

“In the worst-case scenario around $10,000, but everything is clear and good here,” he added. “Breaking $13,600 area and I think $16,000 is next.”

That somewhat rhymed with Mr. Loza’s prediction of the cryptocurrency.

Source: https://bitcoinist.com/the-best-place-to-short-bitcoin-is-above-14k-analyst-explains-why/?utm_source=rss&utm_medium=rss&utm_campaign=the-best-place-to-short-bitcoin-is-above-14k-analyst-explains-why

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XRP Bulls Step in With a 5% Daily Increase, Is $0.30 Next? (Ripple Price Analysis)

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XRP/USD – Buyers Finally Break Above Symmetrical Triangle

Key Support Levels: $0.26, $0.251, $0.245.
Key Resistance Levels: $0.261, $0.271, $0.279.

XRP went through a rollercoaster of price action yesterday as it reached as high as $0.271 (bearish .618 Fib) and as low as $0.228 (.618 Fib) during the 24 hours.

The cryptocurrency had been trading within a symmetrical triangle and rebounded from the lower boundary at the start of the week. Despite the whipsaw like movement yesterday, the daily candle still closed beneath the triangle’s upper boundary.

Today, XRP pushed higher to break toward the upside of this triangle. It reached the resistance at $0.261, provided by a bearish .5 Fib Retracement level.

xrpusd-oct22
XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Moving forward, if the buyers can break the current $0.261 level, higher resistance lies at $0.271 (bearish .618 Fib Retracement). Following this, resistance lies at $0.279 (1.414 Fib Extension), $0.286 (bearish .786 Fib), $0.295 (bearish .886 Fib), and $0.3.

On the other side, the first level of support lies at $0.26. Beneath this, support is expected at $0.251, $0.245 (100-days EMA), and $0.237 (200-days EMA).

The Stochastic RSI produced a bullish crossover signal, which helped the recent push higher.

XRP/BTC – XRP Briefly Penetrates Beneath 2000 SAT.

Key Support Levels: 2000 SAT, 1960 SAT, 1915 SAT.
Key Resistance Levels: 2050 SAT, 2127 SAT, 2200 SAT.

XRP has been struggling throughout the entire month of October against Bitcoin. Yesterday, the coin fell from 2050 SAT and broke beneath 2000 SAT. It continued to spike as low as 1915 SAT where it found support at a downside 1.618 Fib Extension.

The coin managed to close the daily candle at the 1960 SAT level (downside 1.272 Fib Extension) and it has rebounded back above 2000 SAT today as it trades at 2015 SAT.

xrpbtc-oct22
XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Looking ahead, if the buyers continue higher, the first level of resistance lies 2050 SAT. Above this, resistance lies at 2127 SAT (bearish .236 Fib), 2200 SAT, and 2260 SAT (bearish .372 Fib & 100-days EMA).

On the other side, if the sellers break back beneath 2000 SAT, support lies at 1960 SAT, 1915 SAT, and 1900 SAT.

The Stochastic RSI is in extremely oversold territory as we wait for a bullish crossover signal to send the market higher.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/xrp-bulls-step-in-with-a-5-daily-increase-is-0-30-next-ripple-price-analysis/

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