Good morning traders. This early on a Monday I like to sit back and watch the bulk of you rushing in after the weekend. The difference is, most of you probably didn’t do that considering Bitcoin trading doesn’t sleep!!
Let’s look at the facts…
We had BTC mozy about for most of Friday and into Saturday, where it finally broke and went to about 13k. However, we have been watching it level back off to the 11.5k mark and stay around that area quite well.
Today will be another important test. We will look to see if btc will hold 11k and rumble back to 12k; again an important mark to hold.
So again, we find ourselves stuck in this 11k hangout zone. Let’s watch for the break again. BTC is definitely a NO PLAY at the moment. If you own some, consider a SELL until other confirmation.
LIVE LONG AND PROSPER TRADERS!!
Stuck in the doldrums today, bitcoin needs a quick break above $12,500 or the tide may turn in favor of the bears, the charts suggest.
The “V” shaped recovery in bitcoin (BTC) from Wednesday’s low has stalled below the $12,000 mark in the last 12 hours. Prices on CoinDesk’s Bitcoin Price Index (BPI) did rise to $12,045.09 at 15:14 UTC yesterday, before retreating to sub-$11,500 levels by 22:00 UTC.
The slide from the high of $12,045 was extended further to $10,988.79 in Asian hours today. However, bitcoin soon regained poise and rose to an intraday high of $11,808.49 (at 08:44 UTC).
As of writing, bitcoin is trading at $11,660. The world’s largest cryptocurrency by market capitalization has appreciated by 3.17 percent in the last 24 hours, according to data source OnChainFX. BTC is also up 27 percent from the week’s low of $9,199.59 (as per the BPI).
Read the full article here: Bitcoin Stuck at $12K
However, the price chart analysis says the immediate outlook is neutral and only two consecutive daily closes (as per UTC) above $12,500 would improve odds of BTC rallying sharply in line with the historical pattern.
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is partnering with blockchain startup Blockstream to launch a new cryptocurrency-based data feed.
ICE Data Services’ feed will display real-time data from at least 15 different cryptocurrency exchanges worldwide, including prices and order book data for bitcoin and other cryptocurrencies, according to a press release published today.
The Cryptocurrency Data Feed will provide price information against the dollar and other major currencies, and Blockstream will collect and format the data to help investors more easily track how different markets are performing.
ICE Data Services President and chief operating officer Lynn Martin said in a statement:
“With the broad array of cryptocurrencies and exchanges, and given the price variances between exchanges, it’s critical that investors have a comprehensive source of pricing information. We’re excited to work with Blockstream, which is focused on bringing institutional-quality data to the market, and we look forward to expanding the feed and our strategic relationship with Blockstream over time.”
Blockstream will be responsible for actually collecting the data from different exchanges, and will present it in a similar fashion to current data streams present in stock exchanges. The information presented will include real-time price data, as well as historical pricing.
Earlier in the evening (Jan 18), we found our selves witnessing an unusual story. The explosion of cryptocurrency CND found itself at the top of the crypto world for its own five minutes of fame. Before breaking out into a massive 200% uptick, Twitter blogger and alleged crypto insider, known as @ZekeEchelon, pregamed with a “pump” session telling all of his followers to buy CND.
Within a short couple of hours, you could see the rise of CND hang with the best of them, and it was nearly impossible to follow the massive influx of comments on which subscribers and Twitter users were basing their purchase of the cryptocurrency. With a live feed, he created a massive buying opportunity in CND.
You probably know how this story ends.
At about 8:45 PM CST, we found @ZekeEchelon claiming he was confused as to what CND actually was. Going in blindly, one of our staff decided to foolishly buy CND at up 177% only to watch it drop 144%; a great play if you enjoy losing money in a coin trade.
Though we generally expected this outcome, its always good to have skin in the game when following some miracle maker on social media. This way we can relate to some of our own followers (yes, we really love you that much).
What a great game Zeke. We hope you cashed out. For now, let’s hope the buy action continues for the unknown CND, and we avoid making such a wonderful mistake in the future.
Thanks, Zeke. Follow the leader! LOL!