Bitcoin Price Rally Falters as Bulls Fight to Hold the $8.3K Support

After three days of trading in a tightening range Bitcoin price (BTC) dropped below $8,300, stopping at $8,264 which is slightly below the $8,300 support and the 200-daily moving average (DMA) at $8,200.  Earlier in the day John Bollinger, the creator of the popular Bollinger Bands indicator, tweeted that the recent pullback should not alarm investors. Bollinger said:  “This is a ‘logical place’ for $btcusd to find support, a pullback to a breakout level and the middle BB.”  Cryptocurrency market weekly overview. Source: Coin360 As mentioned in the previous analysis,…

Maduro Announces Crypto Casino in Support of Petro and Public

Nicolas Maduro, president of Venezuela, announced on Friday the opening of a new crypto-run casino in a battered country where betting halls have all but gone extinct.  A casino for relief Maduro said Ávila National Park’s Hotel Humboldt will soon be home to an international casino that will operate with Petro (PTR), Venezuela’s state cryptocurrency, and that proceeds will fund the country’s public health and education sectors.  The announcement comes less than a decade after Maduro’s mentor, former president Hugo Chavez, ordered the closure of all betting places as harbors…

Bitcoin Price Tightens as Traders Eye the CME Gap and $8.2K Support

The price of Bitcoin (BTC) tumbled down from $9,200 to $8,450 yesterday. However, bulls are defending the $8,600 level with strength. The market needs to find a support area before the continuation of the bullish momentum is likely. Did the market find one already?  Crypto market daily performance. Source: Coin360 Bitcoin price finds resistance at $9,200 The price of Bitcoin rallied towards the $9,200 level through the past weeks, which makes it a 43% rally in just a month. However, the 0.618 – 0.65 Fibonacci level (the golden pocket ratio)…

After Sudden 8% Drop, Bitcoin Bulls Must Defend Price Support at $8,460

View Bitcoin’s dramatic overnight fall from $9,200 is telling a tale of buyer exhaustion. A break below Sunday’s low of $8,461 would invalidate the recent bullish trend and could yield a drop to $8,200-$8,000. Dips could be short-lived as the longer duration charts are still reporting bullish conditions. Bitcoin may make another attempt to pass the 200-day average at $9,027 if support at $8,461 continues to holds ground. Bitcoin’s price rally is looking tired following Sunday’s sudden drop from above $9,000. Even so, the bias remains bullish with support near…

Binance to Launch Korean Support Center Following Investment in Local Startup

Cryptocurrency exchange Binance has made its first direct investment in a South Korean startup. According to an exclusive report by CoinDesk Korea, Binance has taken a 500 million won ($432,000) stake in BxB, a Korean fintech firm that launched a Korean won stablecoin last year. Alongside the investment, the two firms have inked an agreement that will see BxB support Binance in operating a new support center for local users of Binance.com, the exchange’s international platform. The investment was made, not through the exchange’s incubator arm Binance Labs, but directly…

Binance Coin (BNB) Price Bound To Surge Unless This Support Gives Way

Binance coin price started a downside correction from well above $15.00 against the USDT. BNB price is now approaching a strong buy zone, which is likely to stage another rally. Binance coin price is trading below the $15.00 and $14.80 pivot levels against the USDT. Bitcoin started a major downside correction and declined below $8,000. There is an ascending channel forming with support near $14.00 on the 4-hours chart of the BNB/USDT pair (data source from Binance). The price is likely to start another rally unless there is a close…

Ethereum Price Diving: Can Bulls Save This Key Support?

Ethereum extended its decline below the $140 support versus the US Dollar, while bitcoin dived below $8,000. ETH bulls must protect the $135 support to start a decent recovery. Ether price failed to recover and declined further below $140 against the US Dollar. The price is currently approaching the main $135 support and pivot area. There is a new connecting bearish trend line forming with resistance near $138 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if it fails to stay above the…

Binance Crypto Exchange Adds Support for Australian Dollars and Thai Baht

Major cryptocurrency exchange Binance added support for Australian dollars (AUD) and Thai baht. Binance announced support for the national currencies in separate releases on Jan. 7. Thai digital asset exchange Satang Corporation will process Thai baht transfers, while Australian dollar transfers will be facilitated by Banxa, a company specialized in internationally compliant fiat-to-crypto gateways.  Satang’s fiat processing service is integrated into Binance’s trading platform by means of a recently launched application programming interface that allows users to deposit and withdraw baht directly to their accounts. Satang CEO and co-founder Poramin…

Crypto Lending Firm BlockFi Adds Support for Litecoin and USD Coin

Major cryptocurrency lending company BlockFi has added support for two new assets to its list of supported digital currencies. According to a press release shared with Cointelegraph on Jan. 8, the firm has added major altcoin Litecoin (LTC) and USD Coin (USDC) — the dollar-backed stablecoin from major United States-based cryptocurrency exchange Coinbase.  The new additions mean that BlockFi users can now trade and receive loans as well as interest with the aforementioned cryptocurrencies. Clients can earn monthly compounding interest through the BlockFi Interest Account (BIA). USDC carries an annual…

Former Bakkt CEO Sworn Into Senate, Casts 1st Vote to Support Trump

Kelly Loeffler, former CEO at the Intercontinental Exchange (ICE)-backed crypto trading platform Bakkt, has been sworn into the United States Senate. In a Jan. 6 tweet, Loeffler announced that she was sworn into the U.S. Senate by Mike Pence, the Senate’s chief officer, to become Georgia’s newest Senator. Loeffler casts first vote to support Trump’s pickto lead the Small Business Administration In the announcement, Loeffler said that she had already cast her first vote to support U.S. President Donald Trump’s pick to lead the Small Business Administration, an autonomous U.S.…