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Litecoin Price Prediction: LTC/USD Sustains Above $60 Support, Poises for Upward Move Soon

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Litecoin (LTC) Price Prediction – August 22
LTC/BTC reached a peak price of $68 but the bulls fail to sustain the uptrend. Consequently, the market dropped sharply. In the LTC/BTC, the market is in a sideways trend as price fluctuates between levels Ƀ0.004500 and Ƀ0.005200.

LTC/USD Market

Key Levels:
Resistance Levels: $80, $100, $120
Support Levels: $50, $40, $20

LTC/USD – Daily Chart

Today, Litecoin is at $60 after it has attained a peak price of $68 high. The $60 price level has been a crucial support when it was a resistance and now a support level. Since on August 1, the $60 resistance was difficult to be broken. On August 1, the bulls broke the resistance but price plunged back below the resistance. On August 16, the bulls broke the resistance as price rallied to $68 high. Unfortunately, the coin reached the overpriced region of the market.

Consequently, the coin fell to the previous low. On the upside, for the coin to resume the uptrend, the $60 support mush hold. The above price action has been confirmed by the Fibonacci tool. The $68 high is the 1.272 Fibonacci extension level. The Fibonacci rule indicates that if price reaches the 1.272 extension, the market will reverse to 78.6% retracement level. That is the $60 price level.

Litecoin Indicator Analysis
LTC price is still above 26-day EMA which indicates that price will rise. The coin is below 80% range of the daily stochastic. It indicates that the market is in a bearish momentum. Presently, the price action is showing bullish signals which are contrary to the bearish momentum.

LTC/BTC – Daily Chart

On the LTC/BTC chart, is in a sideways move. The price has been fluctuating between level Ƀ0.004500 and Ƀ0.005200. The coin is yet to trend. Since May the key levels of the market have not been broken. In July and August, the bulls attempted to break the resistance line but were unable to push above the resistance. The coin is at level 54 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend zone.

Source: https://insidebitcoins.com/news/litecoin-ltc-price-prediction-august-22

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Black Friday Crypto Deals Aplenty While Bitcoin is at a Discount

Bitcoin’s bull run has aligned perfectly with this year’s Black Friday. Holders have a plethora of deals that they can capitalize on. 2020 has been an extraordinary year for crypto, even by its wild standards. From the lows of March to the rapid rise of the past few months, the year has seen a great … Continued

The post Black Friday Crypto Deals Aplenty While Bitcoin is at a Discount appeared first on BeInCrypto.

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Bitcoin’s bull run has aligned perfectly with this year’s Black Friday. Holders have a plethora of deals that they can capitalize on.

2020 has been an extraordinary year for crypto, even by its wild standards. From the lows of March to the rapid rise of the past few months, the year has seen a great deal of excitement and activity. Setting aside price, we’ve also seen major developments like support from PayPal and further regulatory clarity.

Perhaps these developments have helped to give Bitcoin a push to near all-time high levels. Investors will be pleased to know that there is still time yet for the cryptocurrency market to appreciate further. Still licking its wounds from yesterday’s losses, BTC is showing resilience and determination to cross $20,000.

Historically, Bitcoin has done well in the last month of the year, and the increasing interest from institutional investors bodes well for the asset. Investment bank JPMorgan Chase noted that Q3 saw even more institutional funds flow in compared to Q2 2020. Investment activity so far has aligned with Tyler Winklevoss’ prediction of the arrival of a “tsunami of investors.”

bitcoin

The Bitcoin bull run has coincided nicely with this year’s Black Friday retail event, as multiple deals and bargains become available. This is particularly useful for retail investors, who can now cash in on exchange deals to get some of the best prices.

Those who are becoming more serious about their cryptocurrency investments can also take a look at Black Friday deals for wallets. This can be especially helpful for hardware wallets, which are the best tools to store and protect funds.

Investors can also set aside some funds for cryptocurrency trading courses. This is a great way to learn how to get the most value out of the current Bitcoin bull run as well as the chance to learn a valuable skill at an affordable price.

But perhaps many cryptocurrency holders will just want a place to spend their Bitcoin. Several platforms are offering Black Friday shopping deals with Bitcoin support. With the asset as high as it is now, this may be the perfect time to cash in. These promotions range from technology services to payment cards and toys.

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Rahul Nambiampurath is an India-based Digital Marketer who got attracted to Bitcoin and the blockchain in 2014. Ever since, he’s been an active member of the community. He has a Masters degree in Finance. <a href=”mailto:[email protected]”>Email me!</a>

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Source: https://beincrypto.com/black-friday-crypto-deals-aplenty-while-bitcoin-is-at-a-discount/

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Bitcoin SV short-term Price Analysis: 27 November

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Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice

As the value of Bitcoin faces hurdles in the market, many altcoins have also been falling on the charts. Bitcoin SV has been noting a strong devaluation and at press time, after a brief recovery effort, it was being traded at $166.16. Although the overall sentiment in the market appeared bearish, there could be a benefit in taking a long position in the short-term.

Bitcoin SV 1-hour chart

Source: BSV/USD on TradingView

The above one-hour chart of Bitcoin SV highlighted a downtrend within a descending channel. The asset was valued at $207 before it started trending lower and it sunk as low as $150. However, the price has managed to bounce back up, and currently looks like there could be a bigger recovery in the market and long positions could be realized.

Reasoning

The Relative Strength Index indicated that the sudden price drop had pushed the asset into the oversold zone. After dropping further in the oversold zone, there was finally a recovery set in motion and the coin has come out of the oversold zone.

As BSVmoves towards equilibrium, the price of the digital asset may also increase in the short-term. Since the resistance is marked at $169.89, and the support remained at $163, there could be a marginal increase in its value.

Positions

Entry for a Long position: $167.30
Take Profit: $172.513
Stop Loss: $163.41
Risk/Reward Ratio: 1.34

Conclusion

Even though bearishness prevails in the BSV market, there could be minimal recoveries noted to balance out the selling pressure in the market. The price of the asset may further consolidate in the short term given the immediate resistances and supports marked close at this level.

Source: https://eng.ambcrypto.com/bitcoin-sv-short-term-price-analysis-27-november

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ASIC Cancels AFS License of Jels Financial Group, Selectinvest

Both the companies failed to submit audited financials for several years.

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The Australian Securities and Investments Commission (ASIC) announced on Friday the cancellation of the Australian financial services (AFS) license of two companies: Jels Financial Group Pty Ltd and Selectinvest Pty Ltd.

Jels was granted the AFS license in September 2014, while Selectinvest was holding it since December 2003.

According to the regulator, Jels failed to demonstrate that it had the competence or resources for providing financial services. Primarily, the company failed to appoint a “key person” required for the licensing, and its sole corporate authorized representative was also insolvent.

Furthermore, the Victorian financial services provider did not file its audited accounts for the financial year 2017-2019, which is mandatory according to the licensing rules.

In the case of Selectinvest, the regulator pointed out that the financial service provider failed to maintain its external dispute resolution membership with the Australian Financial Complaints Authority (AFCA). 

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Additionally, Selectinvest did not report its annual financial and audit report since 2019.

Despite the cancellation, the companies can now move to the Administrative Appeals Tribunal (AAT) with an appeal to review the ASIC’s decision.

A Vigilant Regulator

The Australian regulator is vigilant towards the companies offering financial services under its purview. Finance Magnates earlier reported that the ASIC suspended 40 licenses in a year, ending in June. However, it also granted 394 new AFS licenses in the same period.

In September, the ASIC cancelled the AFS license of forex brokerage Union Standard International Group Pty Ltd (USGFX) as it entered into liquidation.

“We have new powers to refuse a license application where we have been provided false or misleading information or there is an omission of a material matter in an application, report, or statement from an applicant,” ASIC Commissioner, Danielle Press said earlier.

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