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Currently long on underdog $VIA/BTC$VIA is a coin that goes fairly unnoticed because of its historic low volume and non-existent marketing team. I have been accumulating $VIA over the course of the last few months with an established cost basis of 0.000036 VIA/BTC. I currently see a potential breakout with $VIA due to the fact it's approaching a double top formation right in conjunction with a small cup and handle. $VIA will once again test the 0.000054 resistance and if it can avoid a triple top and actually breakout this time I believe it will continue on the previous bullish trend highlight in blue. That gives me a estimated target price of 0.0000706 before once again consolidating in the longer trend lines at a new base of 0.0000614. One thing that goes beyond the technicals is that the project recently took on a new developer who seems to be making a name for himself with the use of $VIA. I mentioned $VIA more/less does not have a marketing team and for that reason I feel this coin is an underdog. They are one of the few coins in the crypto space that seem to under promise and over deliver. I say this because without a marketing team it's hard for them to promise anything. However, the developer release a roadmap of his vision for $VIA in 2017 and beyond and seems to be not only making a good pace but keeping ahead of schedule. They are currently working on implementing segregated witness (segwit) in what will be their 0.13.2 update. One other aspect that makes me optimistic on this coin is from following the order books on poloniex.com. Over the last 4 months the order books have varied from as little as 5BTC to as high as 30BTC in January. Then even though the price continued to rise the order books started to weaken - showing a clear sign of a reversal coming. Over the last few weeks with rumors of the segwit implication soon to be released the orderbooks have grown to as high as 50+BTC. Few large purchase orders towards the top of the order books seem to be getting filled and those who want in are doing so by making market orders. To me this is a very bullish sign.
VLong
by DogGuy
BItcoin - Falling trend line established, eyes 50% Fibo supportBitcoin's retreat from the falling trend line resistance if followed by a day end closing below 651.39 (38.2% of 435-785.15) would open doors for a slide to 50% Fibo support at 61.08. Such a move would also indicate the retreat from June 18 high has resumed. On the higher side, it would take a day end closing above the falling trend line to suggest the retreat from June 18 high has indeed ended and prices could move higher to 700 levels again.
COINBASE:BTCUSD
by TipTVFinance
Bitcoin: A Commodity?Bitcoin has long been a favorite for those looking for an alternative to centralized fiat money. Although I always thought bitcoin was promising, the technological aspect always held safety and liquidity concerns. Due to the fact that it is hard to prove peer-to-peer transactions, financial institutions - especially in the U.S. - have strict policies and layers of purchase authenticity that make buyers wait from a few hours or longer to actually receive the bitcoin. Could the inception of other bitcoin trading products add to liquidity or the general acceptance of bitcoin? Recently, the Commodity Futures Trading Commission (CFTC) has designated that bitcoin is a commodity. By doing so, adding bitcoin derivatives is an attempt to regulate the bitcoin market. Some find it strange that the CFTC has said that bitcoin, among other digital currencies, has the same properties as physical commodities like gold or oil. It is true that there is a defined supply of bitcoin, but it is more than likely that the designation is more of an attempt to regulate than to legitimize bitcoin as a true commodity. Furthermore, the addition of bitcoin derivatives could simply open up the bitcoin market to more traders. Because let's face it, on a day-to-day period, trading bitcoin can be a snooze-fest. With futures trading being as digital as bitcoin, less than five percent of futures are ever exercised for delivery which may lead to more bitcoin speculation. One thing is certain: bitcoin could an alternative to traditional safe-haven assets. For the last year, I have been the only one, that I know of, that has noticed that bitcoin has been trading the inverse of the most traditional safe-haven - gold. Bitcoin's largest movements seem to stem from money flowing in and out of gold. Unfortunately, in a crisis situation, I believe gold would win because it is tangible and that is physiologically comforting. If gold garners support from another central bank led financial crisis, bitcoin could see dark days. Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
BITSTAMP:BTCUSD
by CommoditiesTrader
3
BTC/USD Breaks Descending Channel, Price Action WeakBitcoin traded through the descending channel, which was completed on the selling purge through $280. Although the spike created large positive volume, price action outside the channel remains weak. This is likely to to a "buy on the dip, sell on the rip." Price action is thought to remain between a larger sideways zone between support of $357.21 and resistance $414.64. There are smaller levels within, but due the thinly traded market are not see as too significant. Price action could be rejected off of the descending trend line, pushing prices back into the channel and, ultimately, to the larger support zone. A break higher, and a close above the 50-day EMA, would signal a move higher to $438.16. As always, BTC/USD is neutral with no underlying bias. Targets are simply based on technicals.
BITSTAMP:BTCUSD
by CommoditiesTrader
4