The Merkle Trading Advice Thread

[waawd_1]

New Economy Movement (XEM) Technical Analysis For 4/28/2015

The New Economy Movement(XEM) cryptocurrency has been trading in a very defined sideways market since the 13th of April. The 0.00000064 price zone stands out as a very significant area. This area has been used by the market as support on the 19th of April, and was subsequently utilized as a resistance zone on the 21st and 25th of April. The market is currently trading in the vicinity of this area again, and the 0.00000064 is now acting as support for the second time. At this point, unless the market breaks to the downside, the market will most likely make another attempt to break through the quadruple resistance level at 0.00000077.


http://themerkle.com/speculation/new-economy-movement-xem-technical-analysis-for-4282015


http://themerkle.com/speculation/litecoin-technical-analysis-for-4302015/

Litecoin Technical Analysis For 4/30/2015


Since hitting the lows at 1.295 on the 16th of April, the Litecoin cryptocurrency has staged a very nice rally over the past week. However, on the 30th of April, when the market made a large upmove from 1.36 to 1.44, buyers encountered a very significant price pivot. The 1.44 level has been used as support on the 11th, resistance on the 16th, and as support again on the 23rd. The market has reacted very strongly every single time it has approached this price zone in the past Month, and it reacted again on the 30th – where it prevented the large up-move to continue higher.


http://themerkle.com/speculation/dash-technical-analysis-5032015/

DASH Technical Analysis 5/03/2015
In my previous technical analysis piece on DASH from last week – I speculated, that the Head & Shoulder pattern that had formed at the time was indicating a possible bear market continuation, and that price may be heading towards the lows at 0.012. As it turns out, over the past week the market moved gradually down to the 0.012 support level.



http://themerkle.com/speculation/clams-technical-analysis-for-4042015/

CLAMS Technical Analysis For 5/4/2015
When I wrote my previous CLAMS technical analysis on the 27th of April, the market was trading in the vicinity of 0.0056. At the time, I speculated that the market was likely to descend further down to the prior double support area at 0.0049. The market not only fell down to 0.0049, but has now tried to break through that support area on several occasions in the past week and failed every single time. Someone really doesn’t want price to close under 0.0049.


http://themerkle.com/speculation/then-weekly-bitcoin-break-down-for-54/

Then Weekly Bitcoin Break Down For 5/4
Well, it is the start of May, GBTC just started trading, and bitcoin is looking good. The goal of these articles is going to be to offer up various scenarios and key levels that a trader may face during this week. So let’s get into it…


New Economy Movement (XEM) Technical Analysis For 5/25/2015


The NEM market has been trading mostly in a range bound fashion since the middle of April. When examining at the 4 hour chart, the 0.00000078 price zone stands out. The market attempted to break above this level several times in the past two months and failed. I have marked the most prominent failed attempts on the chart below. The 0.00000078 area is a significant resistance level that has to be overcome if the market is to continue higher.
http://themerkle.com/speculation/new-economy-movement-xem-technical-analysis-for-5252015/

Dogecoin Technical Analysis For 5/26/2015


http://themerkle.com/speculation/dogecoin-technical-analysis-for-5262015/

Dogecoin has been in a very steep uptrend since the 12th of May, but price is currently pressing against a major price pivot zone. If we take a quick look at the 4-hour chart from December of last year through early February of this year, it becomes very obvious why the 0.00000065 price level is of great significance. The 0.00000065 level acted as resistance on December 20th of 2014, and again on the 6th of February 2015. The market has not traded in the vicinity of 0.00000065 since early February, and this level is bound to offer some resistance now. Market reversals occur very frequently at such clearly defined price pivot zones!

mod note: merged posts

[waawd_1]

Bump !

[tyz]

Wow, really good technical analysis of interesting coins. Will you do such analysis regularly or was it just for once?

[waawd_1]

moar incoming mate

[waawd_1]

NOW INCLUDING GENERAL NEWS


Dogecoin Technical Analysis For 6/11/2015

Dogecoin has entered a very congested trading period since the start of June. Although the market is grinding in a tight range, there are still some interesting price levels that do hold some technical weight. For example, the 0.00000066 area has been used as support several times already (blue arrows). The 0.00000066 area was also used as support and also as resistance (green arrow) towards the end of May too, so this area has been respected by the market quite a few times.

http://themerkle.com/speculation/dogecoin-technical-analysis-for-6112015/


Bitreserve Slashes Fees Down To Zero For Bitcoin/Fiat Transactions

Bitreserve has made history today by announcing their new zero-fee schedule. Customers will not longer incur any fees on fiat-to-bitcoin conversions and vise versa. Although users will not be charged any fees on fiat and bitcoin transactions, any transaction involving precious metals on the Bitreserve system is still subject to the usual fees.


http://themerkle.com/news/bitreserve-slashes-fees-down-to-zero-for-bitcoinfiat-transactions/


OpenBazaar Receives $1M In Funding From Prominent Investors



Decentralized blockchain applications are all the rage in the fintech world currently, and big-name investors such as Andreessen Horowitz, are betting big! OpenBazaar, an open source decentralized digital marketplace, has received $1 million in seed funding from Union Square Ventures, Andreessen Horowitz and William Mougayar. Angel investor William Mougayar, is also a board member on the OpenBazaar project .

http://themerkle.com/news/openbazaar-receive-1m-in-funding-from-prominent-investors/


Monero Technical Analysis For 6/09/2015
The 0.0023 level is quite the resistance zone, isn’t it? In my last article on Monero, I pointed to the 0.0023 price pivot and why it could act as resistance, “This area should be watched very carefully, as markets have a tendency to reverse at established price pivots.”, and this is exactly what happened today. The market plunged all the way down to 0.00182, which also happens to be an established price pivot area. The area around 0.0018 has been used as support several times in late May, and this area did provide support during the plunge that happened today.

http://themerkle.com/speculation/monero-technical-analysis-for-6092015/


Litecoin Technical Analysis For 6/09/2015
http://themerkle.com/news/litecoin-technical-analysis-for-6092015/

In my previous technical analysis on Litecoin, I highlighted the importance of the 1.78 price pivot area. The market has now closed above 1.78, and this area is now providing a good deal of support. The market tested the 1.78 area several times already (green arrows) and has not managed to get back under 1.78. If the market manes to get back under 1.78, the market will most likely head lower, as 1.78 will become a resistance area again. So, barring the market getting under 1.78, the current bias is bullish!


Symbiont Receives $1.25M In Seed Funding From Prominent Investors

The ongoing merger between Wall Street and blockchain-based technologies is accelerating at a very rapid pace. A “smart-contract” platform, Symbiont, is the latest recipient of $1.25 in venture capital seed funding from several prominent fintech investors. Duncan Niederauer, former CEO of the NYSE Euronext and Matt Andresen, head of trading for Citadel – are just some of the big-name investors participating in the backing of Symbiont.

http://themerkle.com/news/symbiont-receives-1-25m-in-seed-funding-from-prominent-investors/


Max Keiser’s Bitcoin Capital Hits $1 Million Crowdfunding Target




Bitcoin Capital, a digital currency investment fund, operated by Max Keiser and Simon Dixon, has raised over $1 million in crowdfunding. The fundraising effort started on May 14 on theBnkToTheFuture.com crowdfuning platform, which was co-founded by Simon Dixon.

http://themerkle.com/news/max-keisers-bitcoin-capital-hits-1-million-crowdfunding-target/

Bitfinex Implements BitGo’s Multi-Signature Wallets


http://themerkle.com/news/bitfinex-implements-bitgos-multi-signature-wallets/
Bitfinex, a digital currency exchange based in Hong-Kong, has opted to use bitcoin’s blockchain as a settlement tool for all trades executed on its trading platform. In light of the recent bitcoin hot wallet hack, Bitfinex has taken this step to reassure its client base and bring more transparency regarding the financial health of the exchange.


 Litecoin Technical Analysis For 6/06/2015

Litecoin has been in a steady uptrend since the start of June, but the market may have problems getting above the 1.78 price pivot area. The 1.78 level is now acting as a hefty resistance zone, and it is not hard to see why. If we examine the 2-hour chart and look at the market price action between the 23rd and the 27th of May, we can see that 1.78 acted as support on two occasions. This area propped up the market for a while, until price crashed on the 31st. The market has tried to break the 1.78 resistance barrier a few times in the past two days, but has failed on each occasion. With each failed attempt, the odds of a reversal increase greatly.



http://themerkle.com/speculation/litecoin-technical-analysis-for-6062015/


Overstock To Issue Bond On Bitcoin Blockchain

http://themerkle.com/news/overstock-to-issue-bond-on-bitcoin-blockchain/


Overstock, one of the largest online retailers in the U.S., issued a press release yesterday announcing the launch of its own cryptocurrency-based TIGRcub (Top Line Income Generation Rights Certificate) bond. According to a Wired report, Overstock is looking to raise about $25 million with the TIGRbond bond offering, which is aimed exclusively at the accredited investor crowd.

[waawd_1]

Monero Technical Analysis For 6/05/2015


http://themerkle.com/speculation/monero-technical-analysis-for-6052015/

Monero was trading in a sideways market since about the 22nd of May, but has finally managed to break the big resistance at 0.002, which I outlined in my previous technical analysis on Monero. If the market trades back down in the vicinity of 0.002-0.00205, then this area is very likely to now act as support. The market had a very difficult time getting over 0.002, so this area will be respected in the future.


KnCMiner Unveils Unprecedented 16nm Bitcoin Mining ASIC


KnCMiner, a Swedish bitcoin mining hardware manufacturer, announced the introduction of a new 16nm chip. The company will be able to manufacture the new processor at scale, which is a first in the bitcoin mining industry.

http://themerkle.com/news/kncminer-unveils-unprecedented-16nm-bitcoin-mining-asic/


Bitcoin Price Analysis: The Bulls Are Holding Onto A Broken Wall

The bulls are holding onto a strong wall at the $225-$228 mark. After last week’s 7.5% drop and a nice rebound full of money making opportunities, the wall is still taking a massive beat down.


http://themerkle.com/speculation/bitcoin-price-analysis-the-bulls-are-holding-onto-a-broken-wall/

Ripple Technical Analysis For 6/03/2015


Ripple has been trading in a bit of a sideways market for the last few days, but there are plenty of interesting technical patterns and price pivot zones that have formed. If we look at the spike that occurred on the 19th of May (blue arrow), the tip of that candle hit a high of 0.000034. This level is now being used by the market as support (light blue arrow).

http://themerkle.com/speculation/ripple-technical-analysis-for-6032015/


Final Version Of BitLicense Regulations Released

Benjamin Lawsky announced the final version of the long-awaited BitLicense (a digital currency regulatory framework) at a speech at the BITS Emerging Payments Forum in Washington, DC. In 2013, the New York State Department of Financial Services (NYDFS) began a long and arduous process of crafting regulations for an entirely new class of financial instruments – cryptocurrencies.

http://themerkle.com/news/final-version-of-bitlicense-regulations-released/


Bitcoin Price Analysis: Price Rebounds After A 7.5% Drop



In the past week bitcoin’s price took a steep fall to a low of $222 on June 1st. Since then, it has rebounded to it’s current price of $227. While the chart remains optimistic in the short term, it looks like the market is still looking for support after the breakdown. vlad.adrian‘s bitcoin price analysis from Tradingview suggests:



http://themerkle.com/btc-e-reports/bitcoin-price-analysis-price-rebounds-after-a-7-5-drop/


Dogecoin Technical Analysis For 6/02/2015

The Dogecoin trend that started towards the end of May has now cooled off, and the market has put in some very distinct pivot zones that need to be watched very carefully. The price of Doge spiked today, but did not manage to get over the 0.00000077 price level. This area was used as resistance on the 27th of May, and also as support on the 28th. I have marked these areas on the chart below, with the blue arrows. If we examine the big green candle that formed on the 2-hour charts today (green arrow), you will notice that when the market reached the 0.00000077 level, price came back down quite quickly. The market didn’t stay at 0.00000077 for very long. The market has now respected this price level a total of three times! The 0.00000077 is now a very strong resistance area!

http://themerkle.com/speculation/dogecoin-technical-analysis-for-6022015/

[waawd_1]

Mexico’s TAR Airlines Begins Accepting Bitcoin Payments

http://themerkle.com/news/mexicos-tar-airlines-begins-accepting-bitcoin-payments/
TAR Airlines, a regional airline based in Mexico, has announced today that it will allow all of its clients to use bitcoin as a payment option. Openpay, a Mexico-based digital payment service provider, will provide TAR’s customers with a payment platform that will enable them to transact with the digital currency. Openpay makes use of Bitpay’s infrastructure for providing digital currency payment processing. TAR Airlines will be the first Mexican, and also the first Latin American airline to integrate bitcoin payments.


Ripple Labs Appoints Ex-CEO Of Depository Trust & Clearing Corporation As Advisor

Ripple Labs has made headlines again with another high-profile advisor appointment. Donald Donahue, former CEO of The Depository Trust & Clearing Corporation (DTCC), has joined the Ripple Labs team in an advisory role. Donahue, current CEO of Miranda Partners, expressed his enthusiasm about joining the Ripple Labs team:



http://themerkle.com/news/ripple-labs-appoints-ex-ceo-of-depository-trust-clearing-corporation-as-advisor/


Is The First Bitcoin Bank Set To Open In Switzerland?
http://themerkle.com/news/is-the-first-bitcoin-bank-set-to-open-in-switzerland/

The first ever bitcoin bank may be on its way to being established in Switzerland. According to various news reports, the group involved in the project has been holding talks with the Financial Market Supervisory Authority and they are set to submit their license application within the next few weeks. IT specialist Guido Rudolphi, one of eight people involved in the project, said they have spoken with investors and are already scouting for suitable premises for the bank.

Bitcoin Companies Crash Hottest Fintech Startup List


http://themerkle.com/news/bitcoin-companies-crash-hottest-fintech-startup-list/
BTCjam is a pioneering bitcoin peer-to-peer lending company that is aimed at serving the needs of borrowers in the developing country who are unable to borrow from traditional lenders without running afoul of predatory lending practices, and which do not have a national credit scoring system similar to that in the US.

Monero Technical Analysis For 5/31/2015

In my Monero technical analysis from the 22nd of May, I marked the 0.002 area as an important resistance level and explained why it was relevant from a technical perspective. The 0.002 is still acting as resistance today, and the market is continuing to have trouble getting over that area. The market is now bouncing around between the heavy resistance at 0.002, and the support level at 0.00175.

http://themerkle.com/speculation/monero-technical-analysis-for-5312015/


Ripple Technical Analysis For 5/30/2015

http://themerkle.com/speculation/ripple-technical-analysis-for-5302015/
Ripple received some very good news from yesterday’s announcement by the Commonwealth Bank of Australia, but the technicals are still very much in play on the charts. The Ripple market has been trending higher since the 19th of May, and some very important technical levels were broken in the process. If we look at the 4-hour chart from the beginning of April and through to the end of May, we can see how frequently the 0.000031 price level was used as support and resistance. This level was respected by the market in excess of five times. The market gathered enough momentum to break through 0.000031 on the 28th of May. If the market trades back down to 0.000031, I think it is highly likely for this price pivot to act as support now.

Commonwealth Bank Of Australia Experimenting With Ripple

http://themerkle.com/news/commonwealth-bank-of-australia-experimenting-with-ripple/
Ripple has been selected by the Commonwealth Bank of Australia (CBA) as a transfer mechanism amongst various subsidiaries of the bank. According to statements by David Whiteing, CIO of CBA, the bank has been experimenting with distributed ledger technology and the time has come for the CBA to start looking at upgrading its payment infrastructure with the latest payment technologies.

Stellar Technical Analysis For 5/29/2015



Stellar was trading in a sideways market since about the beginning of March. The market really kicked into a higher gear towards the end of May, as price went from a low of 0.00001, to a high of 0.00001850. The market managed to break above a very important price pivot zone, the 0.000014 level. This area was used as resistance on the 23rd of March, again of the 9th of May, and a third time on the 25th of May. If the market comes back down to 0.000014, there is a very high chance that the market will respect this price zone as support this time! So, If you are looking to enter the trend, the best area at this point would be an entry in the vicinity of 0.000014!

http://themerkle.com/speculation/stellar-technical-analysis-for-5292015/

[waawd_1]

Security Flaw Revealed In Blockchain’s Android Wallet App


A critical cryptographic flaw was recently discovered in Blockchain’s Android wallet app, which enabled bitcoin to be transferred to wrong recipients. The flaw only affected users running version 4.1 or older. Blockchain released astatement on their blog yesterday, announcing the release of an updated Android wallet app and a brief explanation of the software bug that allowed some users to incur losses.

http://themerkle.com/news/security-flaw-revealed-in-blockchains-android-wallet-app/


12Charge Introduces Bitcoin-Accepting Utilities Payment Platform


http://themerkle.com/uncategorized/12charge-introduces-bitcoin-accepting-utilities-payment-platform/

Every day that passes makes cryptocurrencies somewhat more popular, and extending their use represents a goal that different companies from all around the world have at this moment in time. In order to further extend the uses of digital currencies, companies like 12charge.com have begun working on exciting ideas, meant to broaden the number of people who currently use Bitcoin.

Bitshares Technical Analysis For 5/28/2015




The Bitshares market has been on an impressive roller coaster ride since May 24. Under normal circumstance I would take notice on the two pin-bar candle formations that appeared on the 25th, but these were the result of Poloniex announcing margin trading for Bitshares, so I will leave these out of the technical analysis this time. However, what I do find relevant is the highs of the candles, which were near the 0.000047 price zone. If you look back on the chart to late February, you will notice that the market tried to get over 0.000047 several times and failed. The market then started a prolific downtrend that ended at the beginning of March. So, 0.000047-0.000048 is a major resistance zone and the market did not manage to trade much higher even during the unexpected Poloniex announcement. Mark this area on your charts!

http://themerkle.com/speculation/bitshares-technical-analysis-for-5282015/

Bitnovosti Blocked In Russia By Roskomnadzor



Another major Russian cryptocurrency-related website has found itself in the crosshairs of Russia’s Federal Supervision Agency for Information Technologies and Communications (Roskomnadzor). Bitnovosti.com, has been blocked today by Roskomnadzor and all traffic from within Russia is presented with a warning message:


http://themerkle.com/news/bitnovosti-blocked-in-russia-by-roskomnadzor/

[waawd_1]

Dogecoin Technical Analysis For 6/16/2015


http://themerkle.com/news/dogecoin-technical-analysis-for-6162015/

Dogecoin has been bouncing around in a tight range since the start of the June, and it the process has established some very defined support and resistance levels. For example, since the start of June the 0.00000073 level acted as resistance several times, preventing the market from making new highs. The 0.00000073 was finally broken over the past few days, and this former resistance level is now acting as support (green arrow). Unless the market manages to get under this area, it is most likely for price to continue moving higher from here.

[waawd_1]

Ripple Technical Analysis For 6/19/2015


http://themerkle.com/speculation/ripple-technical-analysis-for-6192015/

Ripple has finally managed to get over the double-resistance at 0.000041. This level was used as resistance on the 29th of May and again on the 16th of June.  The 0.000041 level is very likely to now act as a very strong support zone (green arrow) if the market trades back down to this area. If you are looking to join the trend, the 0.000041 area is definitely a good place to look for buying opportunities.


Dogecoin Technical Analysis For 6/19/2015

In my previous analysis article on Dogecoin, I outlined the 0.00000084 resistance area and why it may act as a barrier, and so far it has provided quite a bit of resistance. The market has tried to get over 0.00000084 several times now, and price has failed to stay above this level, or even close above it.

http://themerkle.com/speculation/dogecoin-technical-analysis-for-6192015/

[waawd_1]

http://themerkle.com/speculation/litecoin-technical-analysis-for-6202015/

Litecoin Technical Analysis For 6/20/2015

The relentless uptrend for Litecoin has cooled-off somewhat the past few days, and some interesting technical levels have formed. If we examine the 1-hour charts, the 2.85 price pivot stands out very quickly. This price level acted as support on the 18th of June (blue arrow). The 2.85 area then acted as resistance today (white arrow), and price also managed to make it above 2.85. It is likely that 2.85 could now act as support again (green arrow) if price descends back down to this area.

Monero Technical Analysis For 6/22/2015

http://themerkle.com/speculation/monero-technical-analysis-for-6222015/
In my previous Monero analysis, I outlined the technical importance of the 0.0022 price pivot zone. The market has attempted to make it above 0.0022 for the past week, but there has not been enough buying momentum to make it over this monster resistance area. The 0.002 price pivot has now acted as resistance about four times in the last two weeks (dark blue arrows). The 0.002 was also utilized as support by the market at the beginning of June, so this pivot zone is very well defined! It will most likely take an unexpected news event or a group of very large buys to move the market over the current resistance of 0.0022.

http://themerkle.com/speculation/monero-technical-analysis-for-6222015/