GiletJauneCoin: French yellow vests launch a cryptocurrency

The GiletYauneCoin, a cryptocurrency claiming the movement of yellow vests, made its appearance. A very limited initiative.

Alternative to the financial system, malicious or simple opportunism? A mysterious website announcing the creation of a GiletJauneCoin, a cryptocurrency that would support the eponymous movement, has appeared in recent days. It reads that it was created “to support the international movement of yellow vests in the legitimate struggle of peoples to self-determination, and the reconquest of their economic, territorial, and monetary sovereignty.” The creators of this “Bitcoin-inspired” digital token encourage their followers to become members of the network by leveraging the computing power of their computer (by becoming “miners” of GiletJauneCoin).

What should we think ? According to our findings, the project is not a scam as such. The protocol does exist and units are currently exchanged between users, as can be seen on the explorer of its blockchain. The GiletYellowCoin is a duplication of the Ethereum Classic protocol. What value does it have? Absolutely none because there is no conversion possible with another cryptocurrency or traditional currencies. There is no trading platform to buy, the project is only at the experimental stage. A message on the site nevertheless suggests that it will soon be listed on specialized stock exchanges, without further details.
25,000 to 40,000 euros mobilized

The hash rate, which measures the power of the network, displays 3.13 Gh per second. This represents the power of 15 modern mining rigs. A rig is a mining platform equipped with computer processors. According to Owen Simonin, head of the mining company Just Mining, the infrastructure mobilized for GiletJauneCoin is evaluated “between 25,000 and 40,000 euros.”

Who is behind this initiative? The website was registered on December 3rd and states that it was made in France. No personality puts itself forward. A post announcing the creation GiletJauneCoin was released December 12 on BitcoinTalk:

GILETJAUNECOIN.COM

In
late November 2018 was born in France “Les gilets jaunes”, (aka yellow
jackets, or yellow vests), a protest movement based on high taxations on
energies, which now leads to international contestation, claiming
freedom against banksters and corruption. As you know, lots of people
have already sacrificied themselves during those long weeks. We hope
this effort will contribute to help all of us.

GiletJauneCoin (GJC0)
has been created to support the international protest movement called
“gilets jaunes” (also called “Yellow Jackets” or “Yellow vests” in the
international press), to help the  struggle of world nations for
self-determination, and the reconquest of their economic, territorial,
and monetary  sovereignties.

The anti-democratic European
“parliament”, supported by the European Union and the banking lobbies,
are trying to stifle our nations in order to keep them in an endless
debt system, pushing economies into chaos and currencies into a
permanent inflation, leaving most of the citizens in a growing misery.

Today,
the “Gilets Jaunes” movement has crossed borders of France, Germany,
Belgium, Serbia, Bulgaria, Holland, up to Iraq and African countries.

Decisions
of our politicians, sold to evil banksters, reduce the quality of life
and liberty for all citizens of the world, who worry a little more each
day about the future of their children and future generations.

The current European and the global banking system, already failing since 2008 economic crisis, is living its last days.
The
European states, with the help of the European Union, are pressuring
the people to finance this zombie system, trying to put nations on their
knees.

The brave french people, renowned for their violent
revolutions for freedom, have thus initiated a movement of global social
protest, which will now end only with the complete overhaul of our social and economic institutions.

OUR NATIONS WILL NOT BE SACRIFICIED ON THE ALTAR OF DEBTS !

It
is therefore essential to prepare the future by enabling a transition
to a fairer, more equitable, and environmentally friendly paradigm,
based on economic and political decentralization.

In
order to bring in France and around the world this economic
independence and financial support to the “Gilets jaunes” movement,
we have decided to launch GiletJauneCoin, based on the latest blockchain technologies.

Easy to use, GiletJauneCoin (GJC0)
is perfect for transactions between “yellow jackets”, and people who
want to support our legitime battle against european oligarchy.
By providing the necessary infrastructure for a massive use of GJC0, we are helping yellow jackets around the world to create a parallel economic system during this struggle for freedom.

GJC0‘s vocation is to be a financial transaction tool. It can also used be a tamper-proof voting system, secured by blockchain.
Other functionalities that will be developped by our team during GJCO economic expansion.Lots of developments are schedule and will be announced soon.
GiletJauneCoin (GJC0) will be used for any use case that blockchain will allow to help the international “Gilets Jaunes” protest movement.

GJCO  is inspired by “Bitcoin”, and based on the very powerful blockchain technology”Ethereum”.
Thus,
in a collaborative manner, the network is maintained in operation, and
transactions made possible 24/24 for a very low cost.
These transactions are rewarded with a number of GiletJauneCoins (5 coins per block, each block can contain hundreds of transactions).
Blocks are issued every 15 seconds by our  decentralized blockchain system “GiletJauneCoin”.
This decentralization prevents any takeover of the payment process by third parties.

NO CENSORSHIP OR FRAUD !

DESCRIPTION

Coin name: GILETJAUNECOIN
Ticker : GJC0
Algorithm : Ethash
Coin Type: POW
Max. supply: 120 millions
Block Time: 15 sec
coins per block: 5
Max tx/s: ~380 transactions per block
Transaction costs: 21,000 gas
RPC port: 8545
P2P port: 30303
Ico: No
Pre-Mine: 3%
Masternode: No
Pre-Sale: No
Genesis: 09 december, 2018

EXPLORER:explorer.giletjaunecoin.com/home

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Bitcoin Back at 2018 Low, Price Halved in a Month

A few hours ago Bitcoin revisited its lowest level in 2018. After a week of down trending and failure to break key resistance levels this latest plunge comes as no surprise.

Bitcoin Revisits 2018 Low

With a 5% slide Bitcoin dumped from $3,450 down to $3,284 during intraday trading. This repeats the yearly low it made almost a week ago on December 8. According to Coinmarketcap BTC fell sharply around 19.00 UTC after spending most of the week above $3,400.

Bitcoin reached $3,680 briefly on Monday but has been in a downward slide ever since, hitting the bottom a couple of hours ago before rebounding a little. At the time of writing BTC was trading at just over $3,300. It is the second time it has hit this level and is likely to stay there for a while before falling further.

Bitcoin has almost halved since the same time last month when it was trading closer to $6,400. Since all-time high, a year ago next week, Bitcoin has hemorrhaged 83.6% to its current low. Previous crashes have been worse however so the daddy of digital currencies is not out of the woods yet.

Analysts have predicted a fall to $3,000 which is looking more likely every day as markets weaken further. Friday’s have been particularly painful in crypto land for the past few weeks. Last Friday saw a $15 billion dump to a new low for the year and previous ones have not been much better.

Total cryptocurrency market capitalization has not quite hit a new low at the moment but is very close to it. With a level of just below $105 billion at the time of writing it does not have that far to go and the weekend could see things plunge below the psychological barrier of $100 billion.

The near future sees no catalyzing factors to reverse this trend and crypto aficionados are pinning hopes on institutional heavyweights such as Bakkt and Fidelity getting their products off the launch pad.

The general public, fed by mainstream media FUD, has largely written off Bitcoin and cryptocurrencies as a flash in the pan. Only the hardcore hodlers, and whales that loaded up years ago, are still in the game it seems.

Those that have done their research and actually understand what they are investing in will weather the storm. A further drop for Bitcoin is unlikely to faze the people that are here for the long run.

 

Image from Shutterstock

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Bitcoin Price Watch: BTC Sellers Target Breakdown Below $3,000

Key Points

  • Bitcoin price declined further and broke the $3,295 and $3,200 supports against the US Dollar.
  • There was a break below a major contracting triangle with support at $3,355 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price traded to a new weekly low at $3,150 and it is currently correcting losses.

Bitcoin price declined below the $3,200 support recently against the US Dollar. BTC could continue to face a lot of selling interest near the $3,350 and $3,375 levels.

Bitcoin Price Analysis

Yesterday, we discussed the chances of a fresh weekly low below $3,200 in bitcoin price against the US Dollar. The BTC/USD pair did trade lower and broke the $3,295 and $3,260 support levels. The price even broke the $3,200 support area to signal a major bearish wave. A new weekly low was formed at $3,150 and it seems like the price remains in a significant downtrend.

During the decline, there was a break below a major contracting triangle with support at $3,355 on the hourly chart of the BTC/USD pair. The pair is now trading well below the $3,400 level and the 100 hourly simple moving average. It recently corrected above the $3,230 level and the 23.6% Fib retracement level of the last slide from the $3,491 high to $3,150 low. However, buyers struggled to clear the $3,265-3,300 resistance zone. The next major hurdle is near the $3,360 level. It coincides with the 61.8% Fib retracement level of the last slide from the $3,491 high to $3,150 low. Besides, the triangle resistance trend line is at $3,375 to prevent gains.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is clearly trading in a bearish zone below $3,375. There could be more losses below $3,150 and $3,000 in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is slowly reducing its bearish slope.

Hourly RSI (Relative Strength Index) – The RSI is still well below the 40 level.

Major Support Level – $3,200

Major Resistance Level – $3,375

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Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis

Key Points

  • The total crypto market cap failed to gain pace and declined below $100.00B.
  • Stellar (XLM) price declined more than 6% and broke the $0.120 support.
  • Bitcoin cash price fell sharply by around 10% and broke the $90 support.
  • Tron (TRX) is still stuck above the $0.0130 support level.
  • Cardano (ADA) price declined once again below $0.0300 and it may slide further.

Bitcoin cash declined heavily and broke the $95 and $90 supports. Stellar (XLM), Tron (TRX) and Cardano (ADA) are currently under pressure and they may slide further.

Bitcoin Cash Price Analysis

During the past few hours, there was a sharp increase in selling pressure on bitcoin cash below the $95 support. BCH/USD declined more than 10% and traded below the $90 support. If the current decline extends, the price may slide further towards the $85 support.

If there is an upside correction, the price may find resistance near the $90 and $92 levels. On the flip side, a break below $85 may push the price towards $80.

Stellar (XLM), Tron (TRX) and ADA Price Analysis

Stellar price declined below the $0.1200 support area to move into a bearish zone. XLM is down more than 6% and it seems to be approaching the $0.1000 support area. On the upside, the previous support at $0.1200 may now act as a resistance.

Tron price remained stable and there was no major decline below the $0.0130 support. TRX price seems to be preparing for the next crucial break either above the $0.0150 level or below $0.0120.

Cardano price failed to stay above the $0.0300 support and declined recently. ADA price is down around 4% and it could extend the current decline towards the $0.0290 or $0.0285 support level.

Crypto Market Cap Total

Looking at the total cryptocurrency market cap hourly chart, there was a sharp bearish reaction near the $106.00B level and a bearish trend line. The market cap declined sharply and even spiked below the $100.00B level. It seems like the crypto market is under a lot of bearish pressure and the market cap could even decline below $98.00B, sparking more losses in Bitcoin, Ethereum, monero, stellar, ripple, and other altcoins in the near term.

The post Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis appeared first on BitcoinLinux.

Bitcoin Extortionists Turn From Blackmail to Bomb Threats

Dozens of U.S. businesses, public buildings, and more have been evacuated in response to a string of bomb threats currently sweeping the nation.

The person or persons making the threats, are demanding a sum of Bitcoin be sent to a wallet address, or are threatening to detonate a bomb, potentially harming many in the process.

Bitcoin Bomb Threats Sweep the Nation, Police Say It’s A Hoax

Much of the United States spent the greater part of Thursday, December 13th, on edge and in fear of an attack from a Bitcoin scammer, threatening to detonate bombs at a number of locations across the country. The threats were sent via email using the subject line “we can make a deal”, requesting a sum of $20,000 USD worth of Bitcoin.

“I write to inform you that my man has carried the bomb (Tetryl) into the building where you business is located,” the threat letter reads, continuing “there will be many victims in case of its explosion.”

The letter goes on to threaten that if payment isn’t received by the end of the “working day” the bomb “will explode.” The would-be bomber claims he and the other members of his group aren’t terrorists, but the situation is being treated as such by authorities nationwide.

Related Reading | Teenager Threatens to Blow Up Miami Airport Over Bitcoin Scam

At the moment, the threats to appear to be a hoax, and nothing more than an attempt to extort Bitcoin from the masses. The New York Police Department put out a bulletin on Twitter, warning the public of the threat, but also revealing that “no devices have been found” during numerous searches.

“At this time, it appears that these threats are meant to cause disruption and/or obtain money,” NYPD said in a statement, calling the threats “not credible.”

The Federal Bureau of Investigation (FBI) told Reuters that they are working with local law enforcement and “encourage the public to remain vigilant and report suspicious activities that could represent a threat.”

The bomb threat reports are widespread, stretching from San Francisco to Boston.

Bitcoin Scammers: From Blackmail to Bomb Threats

Bitcoin and cryptocurrency scammers will try any avenue to try and steal funds. Scammers have made Twitter a hunting ground, preying on social media users regularly by impersonating celebrities and hacking accounts. They’ve also recently infiltrated Facebook as well.

Related Reading | Bitcoin Blackmail Scam Terrorizing Paradise Valley Residents

Scammers are also blackmailing U.S. residents, threatening to reveal details about affairs to spouses unless a sum of Bitcoin is sent to an anonymous address – much like the current bomb threat causing great concern across the United States. The occurrence of the blackmail threat has been frequent enough for the Federal Trade Commission to issue a warning to the public.

Back in November, the scam targeted Paradise Valley, Arizona residents, prompting the local law enforcement to warn users via social media.

Featured image from Shutterstock

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Bitcoin Falls Below $3,500, Analyst Claims Likelihood of a Bounce is Diminishing

Bitcoin has been unable to stabilize above $3,500 which has led to a widespread sell-off that has sent most cryptocurrencies down 2% or more. Despite today’s drop, many altcoins have been able to maintain their recently established levels of support.

At the time of writing, Bitcoin is trading down 1.8% at its current price of $3,440, down marginally from its 24-hour highs of $3,550. Earlier this week, Bitcoin climbed to highs of nearly $3,700 before quickly being pushed downwards, signaling that this price level could be a level of resistance for Bitcoin.

Over the past several days Bitcoin appears to have found support at $3,400, bouncing slightly when this price was touched on both today and this past Tuesday.

Analyst: Bitcoin Less Likely to Bounce the Longer it Trades Sideways

As Bitcoin continues to range between $3,400 and $3,700, one analyst claims that the likelihood of a bounce is continually decreasing.

While speaking to MarketWatch regarding Bitcoin’s sideways trading in the mid-$3,000 region, Jani Ziedins of CrackedMarket said that the longer any asset trades at a low price, the less likely it is that the asset is oversold.

“Bitcoin continues to muddle along in the mid-$3k range. The longer we maintain these levels, the less likely it becomes that prices are oversold and poised for a pop. The public has largely written cryptocurrencies off as a fad and no new money is coming in. The lack of demand will continue to be a big liability.”

Although there are no catalysts for a price run in the near-future, the release of institutional-aimed products throughout 2019, like the ones being offered from both Bakkt and Fidelity, could lead to both an influx of funding as well as an influx of positive news from the mainstream media regarding the cryptocurrency markets.

Altcoins Trade Marginally Lower

Bitcoin’s inability to stabilize above $3,500 has led the altcoin markets to drop slightly, although they have generally held steady above their recently established support levels, which were formed earlier this week when Bitcoin fell to $3,400 from $3,700.

Ethereum is one of today’s best performing altcoins and is currently trading down 0.5% at its current price of $91. Earlier this week, Ethereum formed the $88 region as a level of support and appears to have stabilized above the $90 mark.

XRP is currently trading down 1.5% at its current price of $0.305 and is continuing to closely follow Bitcoin’s trading patterns. XRP has found support in the $0.30 region, and only briefly dipped below this price earlier this week.

One of today’s worst preforming altcoins is Bitcoin Cash (BCH), which is currently trading down nearly 6% at its current price of $98. Bitcoin Cash is currently hovering right around its all-time-low of $97 and is showing little to no signs of fundamental strength.

Featured image from Shutterstock.

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Tom Lee Declines to Update Year-End Bitcoin Price Forecast

Outspoken Bitcoin bull Tom Lee is one of the cryptocurrency’s biggest cheerleaders, and has made a number of lofty price predictions that have unfortunately fallen short.

With the price of Bitcoin hitting new one-year lows after the break of critical support at $6,000, Lee is now saying that Bitcoin is currently extremely undervalued, by as much as $10,000. He’s also uncharacteristically declining to make any future predictions on the cryptocurrency’s price.

Tom Lee Tight-Lipped on Future Price Predictions

While speaking to Bloomberg, Fundstrat Global Advisors’ head of research, Thomas Lee, refused to offer an amended year-end forecast for Bitcoin, saying he was “tired of people asking us [Fundstrat] about target prices.” Lee has made some bold predictions in the past, making a call back in May claiming that the cryptocurrency would reach $25,000 by the end of the year.

Related Reading | The Future is Brighter Than Ever for Crypto, Says Roger Ver

Not only did Lee’s lofty prediction not come true, he missed his target by over 85% unless Bitcoin makes a sudden, sharp recovery. Given the current market sentiment, reaching Lee’s year-end target would seemingly be impossible, which may explain Lee’s reluctance to make another prediction. Lee later lowered that prediction to a more modest $15,000, but even that target is a far way off.

Without making another specific prediction, Lee did point to Bitcoin’s price being fairly valued at $150,000 per BTC if the amount of wallet addresses can reach 315 million, which would be 7% that of VISA’s 4.5 billion accounts.

Tom Lee: Bitcoin Fair Value is Between $13,800 and $14,800

According to Lee, Bitcoin’s fair value is between $13,800 and $14,800 – making the leading cryptocurrency by market cap undervalued by more than $10,000. Lee based his fair value figure on the number of active wallet addresses, the amount of transactions across each account, and the overall supply.

“Fair value is significantly higher than the current price of Bitcoin,” Lee explained.

Bitcoin recently breached a repeatedly-tested price floor at $6,000 sending the market into a state of panic, and the price plummeting over another 40% to a one-year low of $3,250. Bitcoin is currently trading at around $3,400, making the original cryptocurrency undervalued by $10,400 on the low end, and $11,400 on the high end, according to Lee’s valuation.

Related Reading | Tom Lee: Bitcoin is the Best House in a Tough Neighborhood

As for why Bitcoin is so undervalued, Lee claims that it’s a combination of factors. This includes the mounting fears surrounding a potential global economic collapse and the corresponding de-risking by investors, initial coin offering treasuries selling off assets to fund operations, and the normal market cycling following the break of a parabolic advance.

Lee neglected to mention another factor that the cryptocurrency community finger points as the reason for the current downward spiral: the ongoing war between two opposing Bitcoin Cash camps. Regardless of the exact reasoning, enough factors have piled up to send the market into a state of fear, and as a result, the entire cryptocurrency market has been bleeding out – with no end in sight.

Featured image from Shutterstock

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IOTA: Bosch develops autonomous electric shuttle

Mobility services have become very important to Bosch. The company wants to show this together with a concept for a shuttle at the next CES.

The automotive supplier Bosch is developing a concept for a shuttle that is to drive autonomously driven autonomously. It is part of a new field of activity for the company, namely mobility services. With these and the concept car, Bosch wants to present at the CES in Las Vegas in January 2019.

Mobility services include booking, sharing and networking platforms, parking and charging services, software for managing and maintaining vehicles, and infotainment while driving. Based on estimates by the consulting firm Roland Berger, Bosch estimates that around one million on-demand shuttle buses will be on the road in 2020, and about 2.5 million by 2025. “Many of these means of transport, which can be called up at any time, will be driven fully electrically and can be operated without a driver by the middle of the next decade at the latest,” writes Bosch.


Infotainment, Wi-Fi and concierge

The concept vehicle can accommodate four passengers sitting opposite each other. Infotainment takes over screens that either each passenger uses for himself or uses several passengers together. Smartphones can use the onboard WiFi. A concierge service is designed to provide passengers with recommendations, reservations, weather reports and travel advice. Arriving at the destination, passengers pay for their journey with Bosch’s ePayment service.

The shuttles should be booked by smartphone. An algorithm should recognize which vehicle can arrive at the desired location the fastest and which other users want to drive a similar route. Bosch is developing the necessary software for this purpose. At the pick-up location, the user also identifies himself via smartphone, which is what the digital access service “Perfectly keyless” from Bosch should ensure.

How long does the battery last?

The company’s convenience charging service, in turn, determines how much battery power is available and where new power can be charged. For this, the service links vehicle information such as the current battery charge level and energy consumption by heating and air conditioning with data from the environment such as a congestion and weather forecast to a forecast of the range. The system finds a charging station and can reserve it in advance.

For autonomous driving, Bosch develops and manufactures radar, video and ultrasonic sensors, brake control systems and electric power steering systems for automation itself. With predictive road condition services from Bosch, automated vehicles are supposed to “know” what environmental conditions prevail and adapt their driving style. With the “Bosch Road Signature” card-based localization service, autonomous vehicles can determine their position in the lane to the nearest centimeter.

Bosch Teams Up with IOTA to Launch New Data Collection IoT Device

Electronics giant Bosch has partnered with IOTA to integrate its new
data collection Internet of Things (IoT) device with the IOTA Data
Marketplace. With the aim to boost device connectivity, Bosch is helping
drive IoT forward on a global level.

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Crypto Market Update: Tezos Gets Huobi Listing, EOS Flips Bitcoin Cash

FOMO Moments

Crypto markets are still in decline; Bitcoin Cash, SV, still dropping, Tezos bounces back.

Crypto markets are still on the floor today as there has been no sign of even a minor recovery. The bears have kept the pressure on and prices are still sinking as total market capitalization continues to fall below $110 billion.

Bitcoin has slid back again falling close to $3,400, down 3% or so from a high of $3,530 it reached yesterday. BTC is down 11% from the same time last week when it traded above $3,800 and is dangerously close to hitting another 2018 low.

Ethereum is still flat with very little going on as it remains just below $90 for another day. The top ten is mostly in the red but losses are much smaller than previously. Bitcoin Cash has taken the biggest hit again of 3% as it slides into oblivion below $100. This has enabled EOS to flip it and take sixth spot with a minor gain on the day to $1.90. There has been very little movement for the rest of the altcoins in this section.

The top twenty is a mixed bunch of half red half green. Dash, Zcash and Nem are still falling back slightly but the big mover at the moment here is Tezos which has jumped 6% on the day. A listing on Huobi Global yesterday is driving momentum for XTZ.

There are a couple of altcoins in the top one hundred getting a dose of fomo at the moment and they include TenX climbing 17% followed by Bitcoin Private and DEX up 14%, Waves also in double figures. Getting bashed today is Revain and Factom both losing around 12% at the time of writing.

Total crypto market capitalization has shrunk again today, falling marginally to $108 billion. Around $4 billion has been lost over the past few hours as markets did make a minor recovery late yesterday. Since the same time last week crypto markets have lost 12% and the downward pressure is still strong.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.

The post Crypto Market Update: Tezos Gets Huobi Listing, EOS Flips Bitcoin Cash appeared first on BitcoinLinux.

Bitcoin Price Watch: BTC Sellers Targets Fresh Weekly Lows

Key Points

  • Bitcoin price failed to break the $3,475 and $3,485 resistance levels and declined against the US Dollar.
  • There was a break below an ascending channel with support at $3,405 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price may continue to move down towards $3,255 or it could even decline to a new weekly low.

Bitcoin price struggled to gain pace above $3,475 and retreated against the US Dollar. BTC remains at a risk of more declines below the $3,250 support level.

Bitcoin Price Analysis

Recently, bitcoin price started a short term upside correction from the $3,295 low against the US Dollar. The BTC/USD pair traded above the $3,400 resistance and the 100 hourly simple moving average. Besides, there was a break above the 23.6% Fib retracement level of the last decline from the $3,635 high to $3,295 low. The price succeeded in clearing a major bearish trend line with resistance at $3,400 on the hourly chart.

However, buyers struggled to clear the $3,475 and $3,485 resistance levels. A short term top was carved near $3,485. It seems like the price was rejected near the 50% Fib retracement level of the last decline from the $3,635 high to $3,295 low. It broke an ascending channel with support at $3,405 on the same chart. There was also a close below the $3,400 level and the 100 hourly SMA. The current price action suggests that the price may decline towards the $3,295 low or the $3,250 support. If sellers remain in action, the price could decline to a new weekly low below $3,240.

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price may continue to trade in a range below $3,475. It could either bounce back from $3,295 or break the $3,250 support for an extended decline.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is back in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is now placed well below the 50 level.

Major Support Level – $3,295

Major Resistance Level – $3,475

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