Bitcoin price - View from TUSD
September, 6th 2018
Hello
After flash dumps so fast that the market has not changed hands, let's look back at the trend of Bitcoin by analyzing one of the most important Altcoin in the market is TUSD (Previously USDT)
As you know, TUSD always tends to go against Bitcoin, so the TUSD analysis is similar to BTC analysis.
Currently TUSD is entering the correction phase in H4 from 13500 to 16000 or higher. In this wave, we expect TUSD to run abnormally with regression, continuing to fluctuate between 14400 and 16000 from now until the end of this week. The required area is not the PO of 16000 to 16300. We mark this area as A-B-C wave.
We are seeing overall, the Elliott wave that TUSD is shaping is a big downside wave in the medium term, targeting the price below 10000, we see this is an opportunity for Bitcoin prices to rise.
We believe the TUSD peak area is BTC buying, and you can buy Altcoin at this time. As with previous reports, we are always reminded of time. In the first half of 9.2018 crypto formed the bottom, and then entered the mid-term increase in most of the cryptography. This is our chance to make a profit. But first, keep an eye on the top areas of TUSD.
Do you think like us, tell us your thoughts? Wish you successful trading!
Team Trade +
TUSDBTC trade ideas
Idea (June 12, 2018) (TUSD/BTC)New signal!
TUSD/BTC
Bittrex
Entry 0.000153 (wait price to reach this level)
StopLoss 0.000141
Rating 3.5/5
Profit goals1 : 0.000160 (Take 50%)
Profit goals2 : 0.000170 (Take 25%)
Profit goals3: 0.000181 (Take 25%)
When T1 reached : New Stop loss for remaining position moves to 0.000146
When T2 reached: New Stop loss for remaining position is entry point 0.000153
WHY? Above all EMA's, expecting to break next resistance level. Good risk reward of 1.2 and social sentiment.
Still bearish on Dollar vs BTCWoke up a little late this morning, despite the breakout on the dollar chart i'm still bearish on this trading pair as we have seen a consistent downtrend since the April high point. If the chart breaks the trend then we will see, but for now I remain bearish on dollars.
TrueUSD Breaks Through 40 Million Coin SupplyTrueUSD keeps growing, with more than 40 million TUSD tokens supplied and backed by fiat funds in escrow. The asset has also become a part of the Binance ecosystem, also exchangeable for the leading fixed-price coin, Tether (USDT).
TrueUSD has surpassed a $40MM market cap and demand is continuing to grow. The market cap is a reflection of the actual dollars in the escrow account that are backing the TUSD stablecoin.
The total supply for TUSD, according to Etherscan, is more tna 41.3 million tokens, distributed over 238 addresses. The reason for the relatively limited number of ETH wallets is that the asset is immediately sent to exchanges.
For TUSD, trading volumes are picking up more consistently, growing to around $14 million in 24 hours - still small-scale compared to the $2.64 billion trading in Tethers. The market for TUSD against Tethers is around $5 million in 25 hours.
But even if, in theory, someone tried to use TUSD as a fiat off-ramp, it would be difficult to move large enough funds.
TUSD appeared at a moment when the activity of the crypto market has been subdued. Even Tethers, despite their relative influence, have seen a less active turnover. The entire crypto market volume has been lowered, to around $16 billion in 24 hours, while Bitcoin volumes have shrunk to a steady $5 billion in 24 hours.
The reason for adding fixed-price tokens is better ease of moving funds between exchanges. Tokens are immediately transferable and anonymous, and avoid the need for expensive regulations when working with fiat. However, TUSD is still viewed with skepticism, mostly due to the influence of Tether.
Recently, Bittrex has launched a limited fiat on-ramp for large-scale investors. The direct purchases of crypto coins with cash will be available for Bitcoin, but also Tethers and TUSD. In this way, Bittrex is inadvertently giving support to the TUSD project, by inviting inflows of cash. In the future, the supply of TUSD may continue to increase significantly. So far, the growth of TUSD supply looks more organic, with no round number tranches.