Market Stalemate

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Sponsored by   March 11, 2019 BTC: Price: $3,826 | MCAP: $68.54 billion | 24-Hr Volume: $9.5 billion Outlook: Stalemate Bearish Exhaustion For Bitcoin? Bitcoin's recent defense of recent Dec. lows at $3,122 has given weight to a potential bullish reversal in the mid-term while still falling $350 short of a heavily desired resistance level. The leading cryptocurrency by market value is currently trading hands at 3,903, representing a 24.8 percent rise on the aforementioned Dec. low of $3,122, with favorable technicals in the form of a bullish divergence on the money flow index, which takes into account both BTC's price and volume. However, it is yet to invalidate the bearish lower high market structure on the weekly chart and would require leverage above $4,236 if seller exhaustion is indeed to be believed which would end lower lows and spark higher highs needed to break the trend. It all depends on the performance from the bulls heading into this weeks new trading session as it continues its slow advance amid modest weekly volume, which will need to increase substantially if we are to see any further gains in the short-term. Read Analysis SPONSOR SECTION Zebpay is leading the Crypto Exchange industry with its declaration that trading fees are a thing of the past. Zebpay is committed to reducing all friction in the use of Cryptos and our Zero trading fee promise is a definitive step in this direction. Sign Up Free   THETA: Price: $0.17 | MCAP: $175.3 million | 24-Hr Volume: $116.8 million Outlook:  Time for a correction THETA Rests Its Legs Atop A Mountain THETA is up 39.58 percent over a 7-day period and is currently one of today's leading performers amongst the top 100 cryptocurrencies at CoinMarketCap.  Having narrowly avoided a sharp sell-off on March 4, when it bounced from $0.11 to test the $0.15 local resistance which it managed to break 6 days later on a large candle backed by considerable daily growing (bullish) volume. The MACD has crossed bullish once more way above the neutral 0 line, highlighting the bullish price action currently taking place as buyers currently exceed sellers in greater fashion with another uptick on the histogram. However, mind a period of profit-taking before another attempt higher as investors seek to cash in yesterday's large gains. XLM: Price: $0.10 | MCAP: $1.9 billion | 24-Hr Volume: $211 million Outlook:  Cautiously bullish Stellar Breaks To A New High Rising 16.45 percent on March 10, Stellar has broken to a new high not seen since Jan. 26 and shows no real signs of slowing down as the technicals point to a fresh MACD cross and increasing volume. There is however, cause for concern residing within the overbought RSI despite flipping bullish on March 7, leaving a crucial question as to whether or not the bulls can defend the newly formed resistance turned support at $0.09. If price manages to hold above the area marked green then a case could be made for a push to greater heights along the prior supports turned resistances between $0.11-0.115. ​   We're excited to announce the launch of the CoinDesk Dojo, a premium subscription part of StockTwits' recently announced Premium Rooms product. Ask the analysts—Omkar, Sam and Seb—questions about charts and talk with other traders looking to profit off the volatility of the crypto markets.  Create an account on StockTwits and then subscribe! Subscribe Here   Binance Launchpad Toxic But Smart:  The Binance Launchpad is designed so that verified users on the exchange can participate and profit from ICO's while having the tokens credited directly to their Binance wallet. Further, users that are indeed verified on the network don't have to go through all the Know-Your-Customer (KYC) steps that ICO's demand. The added advantage for investors is that it provides security through one of the world's leading exchanges with access to decent liquidity. However, regulator Medium contributor Max, believes this to be a toxic move on the part of Binance calling it "pure speculation" and argues that there is much room for manipulation amongst the smaller cap coins. FULL STORY Three Significant Trends For Bitcoin: 90 percent of the worlds money resides in digital and increases as demand for loans and credit increases which in turn is recorded and stored on a banking ledger until the debt is paid or is withdrawn as cash. Indeed the sheer physical requirement for an exchange to take place amongst two individuals is a pain and is almost redundant in today's near cashless society. Digital currencies offer individuals a medium of exchange without the need of a middleman (banks) given recent global events these digital currencies also offer a hedge against sovereign risk and stand as the foremost neutral settlement network on the planet.  FULL STORY   KNC: Price: $0.29 | MCAP: $45.2 million | 24-Hr Volume: $56.4 million Outlook: Correction Kyber Network Goes Down KNC is down more than 22.28 percent after retracing below the 38.2 percent Fibonacci zone at $0.30 today and has its eyes set on the 50% pivot, whereby a move below could see greater withdrawal from the bulls landing prices at $0.23. The MACD shows a tickdown on the daily histogram with the signal line coming in closer contact with the MACD line to form an eventual bear cross, an indication that the bears are regaining control. However, if falling (bearish) volume remains low for the rest of today's trading session then consider a bounce from the 50% percent Fibonacci pivot to retest upper resistances at $0.33. Bitcoin's market cycles indeed have become "longer" and "flatter" ever since the first cycle in 2010-2011.  The first notable market cycle was the shortest in duration of them all, but also provided the greatest percent increase. This is because, at the time, bitcoin's price was growing at its fastest pace on record.  As @davthewave points out, the cycles have become "flatter" because bitcoin's price is now increasing at a decreasing rate. This causes each cycle to drift for a longer period of time in a sideways looking manor, although each cycle is still on a slowly flattening upward slope.  The weekly chart for bitcoin shows similar volume levels to the week prior as noted by @BigChonis on the logarithmic chart, highlighting a previously strong support levels that has now turned into resistance with the first backtest currently underway. A move toward the aforementioned resistance level would take bitcoin to a price above the elusive $4,000 hurdle as it sets scope to attempt a breakout  on modest volume. Indeed, an aggressive move such as a pass and close above $4,000 would lead to greater liquidity in the short-term as investors pile in to speculate a move above $4,100 and then $4,200 in hopes of changing the bearish market trend. Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. Copyright © 2018 CoinDesk, All rights reserved.  Our mailing address is:  250 Park Avenue South New York, NY, 10003, US  Want to change how you receive these emails? You can update your preferences or unsubscribe from this list