Recently, altcoins have been showing strength as Bitcoin (BTC) has just broken a key resistance level. Notably, ChainLink (LINK) and Tezos (XTZ) have been moving up more than 150% in the past month.

However, in the recent week, Stellar Lumens (XLM) have been surging upwards, while XRP price is also starting to look stronger on the charts. Can we expect substantial altcoin movements in the coming weeks? Lets take a look at the charts.

Crypto market daily performance. Source: Coin360

XRP USDT 12-hour chart. Source: TradingView

The 12-hour chart is showing a promising support/resistance flip of the $0.1775 area. The crash on Black Thursday was also devastating for holders of XRP as the price dropped below the $0.12 level for a few hours.

However, since then, the price of XRP has been rallying upwards through substantial support/resistance flips. The recent movements are showing that the crucial area of $0.1775 is holding as support and setting up for more upside for XRP.

The main resistance level to break for the XRP price would be the red zone between $0.2025-0.2125. A break of this level would likely push the price towards $0.2475 and possibly higher at $0.2775.

XRP USD 2-day chart. Source: TradingView

The 2-day chart is showing a significant support level of around $0.145, which had to hold to sustain the positive momentum. However, the chart is also showing that the trend is still substantially downwards based given the lower lows and lower highs.

However, by holding the support level at $0.145, a possible test of the range high can occur, which is found at the $0.328-0.33 area.

Remarkably, in the past cycle of 2015-2017, a similar move occurred where XRP price made a full retrace to the support levels before a massive surge. This support area held, after which accumulation started, resulting in a massive breakout to $3 in January 2018.

The current price action is also starting to look similar, though it took longer to retrace. But thats normal as markets mature and, therefore, need more time to bottom out and start a new cycle.

A test of the $0.33 area would confirm an accumulation and sideways range as the signs are indeed starting to improve.

XRP BTC 1-day chart. Source: TradingView

The daily chart of XRP lost an essential level earlier at 0.00002500-0.00002525 satoshis. Within a few days, the price of XRP reclaimed the level and is currently testing it as support.

Confirming this level as support (heavily depending on any substantial volatile movements of Bitcoin (BTC) suggests that further upwards momentum can be expected for XRP price. At the same time, the price of XRP needs to make a higher high to sustain momentum.

For that, support at 0.00002500-0.00002525 satoshis needs to hold for support, after which the resistance levels will be tested. The first resistance levels to watch for are 0.00002890-0.00002925 satoshis and 0.00003300-0.00003350 satoshis.

The main bullish signal would be a clear breakout of this range above 0.00003800 satoshis, but that is still far away from the current price of XRP.

XLM BTC 1-day chart. Source: TradingView

The Stellar Lumens (XLM) chart is showing a clear range between 0.00000560-0.00000590 satoshis and 0.00000840-0.00000950 satoshis. This range has been providing resistance and support for ten months already when the price moved into these zones in July 2019.

However, recently, XLM has been showing strength as the price of XLM surged 28% in the past four days. Not only that, but the price of XLM is also attempting to break the range resistance, which is a crucial signal for bull/bear momentum similar to XRP.

An apparent breakthrough of the 0.00000850-0.00000935 satoshis level would create further upwards momentum, targeting the next resistance zone at 0.00001400 satoshis. Aside from that, breaking the 0.00000835 satoshis level would result in the first higher high in more than eighteen months.

But if the price of XLM cant break through the resistance in one go, the retests will be crucial to see whether buyers are stepping in.

XLM BTC 1-day chart. Source: TradingView

The chart is providing clear levels to watch if the price of XLM cant break through the resistance area upon the first attempt, which seems likely.

As theres been such a massive pump, support levels can be found substantially lower in the chart. The primary levels to watch for support are 0.00000718-0.00000722 satoshis and 0.00000680-0.00000685 satoshis.

If either of these levels provides support, then buyers will likely step in. Such a move should warrant further upwards momentum.

XLM USDT 1-day chart. Source: TradingView

Meanwhile, the USDT chart for Stellar Lumens is showing a clear breakout of the resistance level at $0.054. This breakout led to a significant surge in price as the price of XLM rallied towards $0.065.

This move grants a 155% surge since the low of March 12, also known as Black Thursday. However, is the rally over for now? No, because after such a breakout and surge, the dips will likely be bought up given the current uptrend.

An apparent retest of the previous resistance level at $0.054 would provide the most likely entry for traders to step in. Resistance levels are found significantly higher, with the first level lying at $0.074 and the second one at $0.08.

However, if this push fails to hold the $0.054 level for support, further tests to the downside are likely to occur. The primary level to watch for will then be the $0.04-0.043 zone.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Excerpt from:
XRP Price May Be Headed for $0.30 With Bitcoin Making Higher Highs - Cointelegraph

The shockwaves from yesterdays explosion in the oil markets continued to damage oil prices and shrapnel from the blast caused damage to equities today as U.S. markets closed in the red after a nearly 3-week rebound.

West Texas Intermediate crude closed down 9.49% at $9.06, and June 2020 futures dropped from $22.58 to $13.12. What is clear is that investors remain fearful about the future of the entire industry as the coronavirus pandemic continues to dampen demand for oil.

Before the start of this week the S&P 500 and Dow had recovered approximately 30% of the losses from the Feb. 20 correction which quickly brought markets to historic lows. As shown on the 3-day chart below, the S&P 500 had rallied within a hair of the 61.8% Fibonacci retracement level, a point which many analysts forecast would be challenging to overcome.

Rejection at this level is likely to crush the narrative of a V-shaped recovery like the one witnessed in late December 2018.

SPX (S&P 500) 3-day chart. Source: TradingView

Traders who swear by the TD Sequential indicator will have also noticed that last Friday (April. 17) the market flashed a sell signal when a 9 appeared over the daily candle.

SPX (S&P 500) daily chart with 9 on TD Sequential. Source: TradingView

The Dow is in a similar position having met resistance at the 50% Fibonacci retracement which is slightly below the VPVR point of control at 246.22, a pivot point for the Dow. At todays close both indexes were down 5.07% and 5.30% respectively.

DOW (DIA) 3-day chart. Source: TradingView

For the past few weeks analysts from traditional markets have debated whether or not a strong recovery was in the making. Recently Goldman Sachs forecast that the current recession would be nearly 4 times worse than the 2008 housing crisis.

Meanwhile, pro business proponents from the Trump Administration have said that the current economic downturn is unsubstantiated as the markets will snap back to profitability once economic activity recommences.

Volatility indexes like the VIX, TVIX, and UVXY tell a different story as each gained 3.6%, 15.98%, and 12.06% for the day.

TVIX daily chart. Source: TradingView

In fact, all three have just finished their bottoming process after coming down from incredibly strong rallies that kicked off right as the coronavirus pandemic began to accelerate its rate of infections in late February. Take the above TVIX chart as an example.

Meanwhile, amidst the chaos in traditional markets, Bitcoin (BTC) price has remained relatively stable, ony pulling back 4.24% to what is so far proving to be a strong support at $6,850.

BTC USDT daily chart. Source: TradingView

At the time of writing the digital asset is attempting to re-enter the $6,900-$7,260 zone where the price spent the last 18 days trading. Re-entering this zone would be a positive step forward as the daily chart shows below the VPVR high volume node from $6,850-$6,600 Bitcoin is vulnerable to a drop to the $6,485 support and below this $6,200.

BTC USDT 4-hour chart. Source: TradingView

Another positive development is the pattern of higher lows and increasing buy volume on the 4-hour timeframe. If Bitcoin can reclaim the $6,900 level as support then the price can push above the Bollinger Band moving average at $7,055 and possibly exploit the small VPVR volume gap between $6,930-$7,050.

As discussed thoroughly in previous analysis, a push through the resistance cluster (pink) to flip $7,300 to support would open up the path for Bitcoin price to reach $8,000.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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Bitcoin Price Hangs on to Key Support Level as Stocks and Oil Tip Over - Cointelegraph

Bitcoin is still looking positive on Friday despite the bulls not pushing above the high seen yesterday. The price looks like its heading toward some more serious resistance zones including the 200 daily simple moving average, which incidentally is placed close to the 8K psychological level.

Looking at some of the other technical levels now, the relative strength index indicator is also trading above the 50 mid-line positive territory. There is also space for the indicator to move higher as it has not reached the overbought zone yet. The volume is still looking a little bit light so if there is to be a break higher it would be good to see an increase. Lastly, if there is to be a move up, the black trendline could act as a resistance zone as it has halted one other move in the past.

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Bitcoin Price Analysis: The bitcoin bulls have 8K in thier sights - FXStreet

Vishal Shah is founder of Alpha5, a new bitcoin derivatives exchange backed by Polychain Capital.

Despite some championing, it is clear bitcoin is still a risky asset on a peripheral investment frontier, and not a safe haven at all.

Bitcoin is simply not going to be a primary concern for capital swimming around in traditional markets. Remember, this is a time when assets like U.S. equities are enduring unprecedented volatility. There would need to be a return to frothy markets and the comeback of marginal greed to see more institutional players wandering inside the crypto gates.

You might think macro developments such as profligate money printing would give bitcoin a reasonable investment thesis. But that is not manifesting, and for good reason. The ecosystem around bitcoin is limiting its own long-term prosperity. Topping the list of ailments is bitcoin volatility, which is artificially created by high-leverage.

The data on volatility does not lie

With the crypto options market becoming more entrenched over the past year, its possible to observe a pattern in bitcoin volatility. There hasnt been a sustained meaningful premium of implied volatility (the markets forecast of the likely movement of price), over realized volatility. Bitcoins implied volatility rarely dips below 50 percent. In fact, bitcoin enjoys a rather patterned "vol of vol," whereby implied and realized volatility move almost rhythmically together, fluctuating between 40 percent and above a 200 percent ceiling.

An asset like bitcoin that over the course of years sustains an implied volatility of over 50 percent is truly remarkable. For comparison, stocks with a sustained volatility of even 25 are often classified as high-beta (meaning they outperform the market when its going up but fall precipitously when it's going down).

So what is it that plagues bitcoin to create such outsized moves? Well, the biggest problem is the extreme amount of leverage in crypto derivative markets.

Sheer silliness on derivative platforms

As they try to increase adoption, cryptocurrency derivative trading platformsdeal with a very unique situation. Bitcoin holdings are heavily concentrated, with 95 percent of physical supply owned by a relatively small number of addresses. At the same time, a great many traders on these platforms have a very strong appetite for risk. That is the short story of why 100 times (100x) leverage is now commonplace in crypto markets. There is a need to cater to the demands for rapid financialization of concentrated holdings.

Leverage at 100x margin is attractive (at least superficially) to an investor looking to reduce capital requirements while increasing exposure. Regulated exchanges offer approximately 3.5x leverage onshore. But an apple-to-apple comparison is misleading; on- and offshore markets are different.

Firstly, many offshore crypto exchanges act not only as a trading venue, but also as clearer and custodian a complete vertical integration orchestrated by a company registered on a small island somewhere. This is versus the siloed and arms-length functions in more regulated environments. Ultimately, this puts a huge amount of responsibility, and tremendous power, in the hands of offshore exchanges.

Unless and until exchanges take it upon themselves to fix this problem, bitcoin wont mature from being a gyrating toy into an asset of real interest for traditional market players.

To offer 100x leverage, typically accompanied with a 0.50 percent maintenance margin (the amount of equity an account must sustain to keep its current positions and orders), is antithetical to the pursuit of orderly cryptocurrency market functions. In fact, it is probably the single largest contributor to sustained volatility.

Bad Infrastructure

Adding fuel to the fire is that most of these leveraged exchanges are not built to handle concentrated volume at scale during times of high stress. Queuing and server overloads have become all too common, ironically just when markets tend to explode in trading volume.

This impedes traders from reducing their exposure, leaving them to themercy of aggressive liquidation algorithms (when price points trigger automatic position closures), whose successes are fingerprinted on exchanges insurance funds. The insurance funds of crypto exchanges act both as an outward image of the exchange's success, but also as a measure of how aggressive and damaging their liquidation algorithms are to their trading community. That is because on almost every exchange, the insurance fund is capitalized from liquidation of traders' positions.

On some exchanges, once an account breaches the maintenance margin threshold the price at which the account is in violation of minimum margin requirements to sustain its open orders and positions a limit order is placed at the bankruptcy price to liquidate the position. On other trading platforms, liquidations are done in batches, with a fee charged for each partially completed order. In this fashion, the trading position is liquidated slowly, and there is a chance that they could be "pumped" back to life if the market is to recover. In any instance, as a direct consequence of 100x leverage and small balances of equity, orderly executions have very tight windows within which to operate.

Unwinding the leverage game

Stigmatic levels of volatility associated with bitcoin are not inevitable. They are man-made. A reduction of leverage would alleviate the stress on liquidation engines. What is often lost in the fascination with high leverage is that 100x leverage creates a situation where any maintenance margin threshold which will have to be less than 1 percent, and is often 0.50 percent will simply not leave enough room for liquidation algorithms to be effective.

For this reason, it would be wise to reduce leverage broadly available across the ecosystem to stop this ridiculous volatility. Even 25x with a 2 percent maintenance margin supplemented with a more sophisticated liquidation engine would be more equitable to traders.

There needs to be a concerted and deliberate effort to reduce leverage and increase maintenance margin by the largest venues. Unless and until exchanges take it upon themselves to fix this problem, bitcoin wont mature from being a gyrating toy into an asset of real interest for traditional market players.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Bitcoin Can't Be a Safe Haven and 100x Leverage Is Why - CoinDesk

The Bitcoin price (BTC) has been consolidating in the $6,900 to $7,100 range throughout the past 36 hours, right below a heavy resistance level at $7,200. Typically, a large price movement occurs when BTC gets stuck in a tight range for a prolonged period of time.

Crypto market daily performance. Source: Coin360

Currently, there are three technical factors that show Bitcoin is vulnerable to a large move down: deviation from the descending trendline, the emergence of a fractal resembling the 2019 top, and the increase of Tether supply.

Technically, when the Bitcoin price rejects off of a descending trendline, it suggests a bearish retest of lower support levels. Earlier this week, a cryptocurrency trader known as Trader XO suggested that in the near-term, the Bitcoin price could be following a descending trendline and possibly retest the months open.

Potential Bitcoin short-term price trend. Source: Trader XO

The Bitcoin price ended up breaking out of the trendline to rise to as high as $7,200 on Coinbase, and the price of BTC is now hovering above the line at around $7,107.

But, if the BTC price rejects the $7,000 resistance level and breaks back into the previous range, the entire move would be considered a deviation and would signal a severe downtrend.

The $6,950 to $7,050 area has been an important area of resistance for Bitcoin throughout the past two weeks, and it has attempted to break out of it nine times since March 20.

In February, before the economic consequences of the coronavirus pandemic were considered as a strong variable to the near-term trend of the Bitcoin price, BTC was showing signs of a local top at $10,500.

The price rejected at a key multi-year resistance level and in the days that followed, BTC faced a steep downtrend to $7,700, eventually dropping to as low as $3,650.

According to technical analyst, Crypto Capo, the current Bitcoin price trend is strikingly similar to the entire fractal that sent BTC from $10,500 to the $3,000s.

Bitcoin 2019 chart and recent 1-hour chart comparison. Source: CryptoCapo

Although the comparison is between a daily chart and a 1-hour chart, the analyst said that if the structure of the chart is the same, it is likely to see a similar outcome regardless of the timeframe.

Throughout the past two weeks, the supply of Tether (USDT) has increased significantly by more than $2 billion, as it surpassed $6.3 billion in market capitalization.

The noticeable rise in the inflow of Tether into exchanges may indicate that the demand for the stablecoin is rising at a rapid rate, as investors seek for a safety net. In fact, a cryptocurrency investor known as Light recently said:

Tether exchange balances ballooning as potential BTC supply available to be acquired on exchanges is falling.

The fast growth of the Tether supply at a time wherein uncertainty shades above the cryptocurrency market could indicate that many investors remain cautious and skeptical towards the v-shape recovery of BTC since March 12.

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Bitcoin Price is Showing 3 Textbook Technical Signs of a Severe Correction - Cointelegraph

Bitcoin has been experiencing some lackluster price action throughout the past several days and weeks, with the crypto hovering around the $7,000 region as its bulls and bears reach an impasse.

This boring price action has not corresponded with the massive issuance of stablecoins like Tether (USDT) leading some analysts to deem this as Bitcoins Tether printer divergence.

The phenomenon has been seen in the past and is historically followed by intense uptrends.

Bitcoin has been seeing some choppy trading between the upper-$6,000 region and the lower-$7,000 region for the past several days.

This has marked what appears to be a temporary end the cryptos firm uptrend that was sparked when it dipped to lows of $3,800 in early-March.

One interesting thing to be aware of is that the issuance of new stablecoins and USDT in particular has ballooned in recent times, signaling that these newly minted tokens will ultimately be cycled into Bitcoin and other cryptocurrencies.

The demand for these stablecoins could be coming from a myriad of difference sources, and one analyst believes that there are three primary suspects including wealthy Chinese, institutions looking to de-risk, and smart money accumulating a fixed supply hedge.

An unprecedented flood of stablecoin is being issued. Its likely liquidity for: -Chinese wealth bypassing capital controls -Institutions thatll de-risk on the next leg down -Smart money accumulating a fixed-supply hedge against collapse, he said while pointing to a chart showing the growth in USDT issuance.

Image Courtesy of Cole Garner

As for how this could impact the benchmark cryptocurrency, the same analyst refers to a phenomenon called Tether printer divergence to explain how it could be bullish.

BTC is experiencing Tether printer divergence. That story always seems to end the same way, he said while referencing the below chart.

Image Courtesy of Cole Garner

While looking at this chart, it does appear that USDT issuance front runs Bitcoins price action.

If history repeats itself, this means that the cryptocurrency could be poised for a major rally that is fueled by investors funneling these stablecoins into BTC.

More here:
Bitcoin's Tether Printer Divergence is Immensely Bullish; Here's Why - Bitcoinist

A startup has launched a leveraged token and a decentralized stablecoin on Rootstock (RIF), a smart contract solution based on Bitcoin (BTC)s blockchain.

According to an announcement shared with Cointelegraph on April 21, Bitcoin-based decentralized finance (DeFi) protocol MoneyOnChain launched the new products on RSKs sidechain.

The new DeFi platform, dubbed RIF on Chain will feature RIF Dollar (RDOC), RIFX and RIFpro (RPRO). RPRO is a token that mirrors the price of RIF but also grants passive income by collecting a share of the fees generated by platform transactions.

RDOC is pegged to the United States dollar and backed by RIF tokens. Unlike competing Ether (ETH)-backed decentralized stablecoin DAI, RID Dollars can be acquired directly by spending RIF without creating a collateralized debt position.

The RDOC stablecoin is minted every time there is a certain amount of RIFpro staked on the platform. Lastly, RIFX is a token that gives exposure to RIFs price fluctuations with leverage. Diego Gutierrez Zaldivar, CEO of IOV Labs the firm behind Rootstock explained:

RIFX is a RIF leveraged decentralized long position. Based on an automated smart contract that renews every 30 days, the product has a leverage factor of 2X at the very beginning of its lifespan and a variable leverage afterwards based upon certain variables such as the price of RIF token and the amount of RDOC stablecoins in the ROC platform. Users must be aware of the risks. [] The ROC platform, in this current version, does not have a Margin Call notification.

Zaldivar pointed out that RIF is merge-mined with BTC and leverages Bitcoins blockchain for security. He also explained that Bitcoin as an asset is integrated into the system and its role will be expanded in the future:

Bitcoins are locked on-chain and RBTC tokens are minted on the RSK network accordingly. RBTC (and thereby BTC) will serve as collateral for loans, as a pegging mechanism for RIF Dollar and more.

As Cointelegraph reported in March, lead developer at blockchain firm Kava Labs Ruaridh ODonnell pointed out that there is great anticipation for the development of Bitcoins DeFi ecosystem. When it comes to the broader DeFi space, it is seeing great developments at an astonishingly fast rate.

As Cointelegraph reported earlier today, Ethereum-based DeFi protocol Synthetix recently enabled tokenized real-world assets like Brent oil and the Nikkei stock index. The CEO of blockchain firm Trustology recently said that he believes DeFi protocols could soon emerge as the worlds dominant liquidity pool if scaled effectively.

See more here:
Bitcoin Smart Contract Solution RSK Sees New Stablecoin and Leveraged Token - Crypto Monitor News

Bitcoin

Bitcoin went through a 6.23% price hike over the past seven days of trading as the cryptocurrency managed to push to a fresh April high at $7,700. The coin met resistance at $7,200 last week, which caused it to drop beneath $7,000 at the start of this week. It went on to find support at $6,800, where it rebounded.

On the rebound, Bitcoin took out resistance at $7,000, $7,200, and $7,400 as it spiked as high as $7,780. It since dropped to the current $7,500 level, where it faces resistance at the 100-days EMA.

Looking ahead, if the buyers break above the 100-days EMA, the first level of resistance lies at $7,700. Above this, resistance lies at $7,780 (1.272 Fib Extension), $7,880 (200-days EMA), and $8,000 (bearish .618 Fib Retracement). This is followed by resistance at $8,300 (1.618 Fib Extension).

If the bears push lower, support can be found at $7,400, $7,200, and $7,000. Beneath this, added support lies at $6,800 and $6,640.

Ethereum saw a 10% price increase this week as it manages to reach the resistance at $188 again.

The cryptocurrency was trading at this level 7 days ago, but the resistance here, provided by a bearish .5 Fib Retracement, caused ETH to drop lower into the support at $170, where lies the 100-days EMA.

ETH rebounded from this level and since returned to the $188 resistance. It actually spiked upward to create a fresh April 2020 high at $194 yesterday.

If the bulls break $188, resistance is expected at $194 and $200. Above this, added resistance lies at $206, $211 (bearish .618 Fib Retracement), and $225.

Toward the downside, support lies at $177 (200-days EMA), $175, and $170 (100-days EMA). This is followed by support at $165 and $160.

Against Bitcoin, Ethereum met resistance at the 0.026 BTC level last week, which caused it to drop into the 0.025 BTC level during the week. It attempted to rebound from here but was halted by 0.026 BTC again yesterday. The coin has since dropped into the support at 0.247 BTC.

If the sellers break 0.0247 BTC, the first level of support lies at 0.0239 BTC. Beneath this, support lies at 0.023 BTC (.5 Fib Retracement) and 0.0225 BTC (100-days EMA).

On the other side, if the bulls can break 0.025 BTC, resistance lies at 0.026 BTC (bearish .786 Fib Retracement), 0.0263 BTC, and 0.0266 BTC (bearish .886 Fib Retracement).

XRP saw a small 3% price increase this past week as it continues to remain trapped at the $0.20 resistance. It reached $0.0196 last Friday, which caused it to drop lower into support at $0.18 (short term .236 Fib Retracement & rising trend line).

XRP rebounded from here and started to climb higher as it breaks back above $0.19 to reach $0.195. XRP will need to cleanly break the $0.20 resistance for a bull run to be sparked.

Looking ahead, the first level of resistance is located at $0.20. Above this, resistance lies at $0.207 (100-days EMA), $0.217, and $0.224. Following this, added resistance lies at $0.23 (200-days EMA).

Toward the downside, support lies at $0.191, the rising trend line, and $0.18. Beneath this, added support lies at $0.171 and $0.165 (.382 Fib Retracement).

Against Bitcoin, XRP was trading at the 2710 SAT resistance last Friday as it continued to trade beneath a falling trend line. The coin made multiple attempts to break above this trend line this week but failed on each one.

In yesterdays trading session, XRP fell further beneath this trend line as it broke the support at 2650 SAT and dropped as low as 2570 SAT.

Moving forward, if the sellers push lower, the first level of support lies at 2560 SAT (.618 Fib Retracement). Beneath this, support lies at 2525 SAT, 2500 SAT, and 2470 SAT (.786 Fib Retracement).

On the other hand, the first level of resistance lies at 2600 SAT. Above this, resistance lies at 2650 SAT, the falling trend line, and 2670 SAT. Added resistance is located at 2710 SAT and 2750 SAT.

Tezos saw a very strong 27.5% price increase over the past 7-days of trading as the cryptocurrency surges to reach $2.70.

The coin began the week by meeting resistance at $2.34, which caused it trouble as it rolled over to reach $2.10. From here, the coin rebounded and went on to break the aforementioned resistance and continued to surge. It broke above $2.50 to reach the current resistance level at $2.70, provided by a 1.414 Fib Extension.

Looking ahead, if the buyers break $2.70, the first level of resistance lies at $2.82 (bearish .618 Fib Retracement). Above this, resistance is located at $3.00, $3.14, and $3.31 (bearish .786 Fib Retracement & March 2020 high).

Toward the downside, the first level of support lies at $2.58. Beneath this, support lies at $2.50, $2.34, $2.20, and $2.00 (100-days EMA).

Against Bitcoin, Tezos also went on a rampage this week as it reaches a high of 0.000362 BTC, which is resistance provided by 1.414 FIb Extension level. It started the week by rebounding from the support at 0.0003 BTC as it went on to break resistance at 0.00032 BTC and 0.00034 BTC.

If the bulls continue to drive above 0.000362 BTC, resistance is expected at 0.00037 BTC (bearish .786 Fib Retracement). Above this, resistance lies at 0.00038 BTC (1.618 Fib Extension), 0.000387 BTC, and 0.0004 BTC.

On the other side, support lies at 0.00034 BTC, 0.00032 BTC, and 0.0003 BTC.

Cardano also witnessed a fantastic price surge this week as it increased by 24% to reach the 200-days EMA at around $0.042. The coin started the week by breaking above the $0.035 level and continued higher to break the previous April high at $0.0367.

It went on to break resistance at $0.038 (bearish .382 Fib Retracement) to reach the 200-days EMA where it currently trades.

Looking ahead, once the bulls break the 200-days EMA, resistance is located at $0.0446 (bearish .5 Fib Retracement). Above this, resistance lies at $0.047, $0.049 (1.618 FIb Extension), and $0.05 (bearish .618 Fib Retracement).

If the sellers push lower, support can be expected at $0.04, $0.0383 (100-days EMA), and $0.0367. Beneath this, additional support lies at $0.035.

Cardano has also been surging against Bitcoin. The cryptocurrency began the week trading at 500 SAT as it started to climb higher. It broke above the 100-days EMA and resistance at the 200-days EMA at around 550 SAT to reach the current trading level at 570 SAT.

It spiked higher today to break above the March 2020 high of 573 SAT as it reached the 585 SAT level.

Looking ahead, if the buyers continue above 570 SAT, resistance is located at 580 SAT and 600 SAT (bearish .618 Fib retracement). Above this, resistance lies at 620 SAT (1.414 Fib Extension) and 640 SAT (bearish .786 Fib Retracement).

Alternatively, if the sellers push lower, support lies at 550 SAT (200-days EMA), 535 SAT, and 520 SAT. This is followed by support at 510 SAT (100-days EMA) and 500 SAT.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency chartsby TradingView.

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Crypto Price Analysis & Overview April 24th: Bitcoin, Ethereum, Ripple, Tezos, and Cardano - CryptoPotato

Bitcoin Cash (BCH) proponent, Roger Ver, claims he paid thousands of dollars in Bitcoin (BTC) fees on multiple occasions.

"I paid a thousand dollars in fees for a single transaction on the Bitcoin network, more times than I can count," Ver said in a video posted by Bitcoin Meme Hub on Twitter.

Bitcoin's chain split into Bitcoin Core and Bitcoin Cash in 2017, dividing a chunk of the community after disagreements over the asset.

Proponents of big blocks wanted faster transactions at lower cost. Those folks veered off with the BCH side of the fork. Bitcoin Core advocates wanted to keep a lower block size, partly to help BTC remain decentralized.

The Bitcoin Cash community saw even further divide in 2018, when BCH itself split into Bitcoin Cash and Bitcoin Satoshi's Vision (BSV).

A well-known name in the crypto industry, Roger Ver has argued the point of fees and usability many times, often lobbying that BTC is too slow, expensive, and unable to scale.

On April 7, Reddit user, Braclayrab,posted that, "If everyone on BTC wanted to move their coins, it would take 165 days."

"That's almost six months," Ver said in an April 9 video response to the Reddit post. "Does that not seem crazy to anyone else."

Users saw similar difficulties near the peak of Bitcoin's $20,000 bull run in 2017 and early 2018, when transactions stalled amid soaring fees. Ver has often riffed on the concept of Bitcoin Core being a slow and expensive network, pointing toward BCH as an alternative.

In contrast, BTC proponents, such as programmer Jimmy Song, often mention the other side of the table, in keeping BTC decentralized through smaller blocks.

Bitcoin Cash recently completed its halving roughly one month before Bitcoin's scheduled May halving event.

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Roger Ver Claims His Bitcoin Transaction Fees Totaled $1,000 at Times - Cointelegraph

Why is Bitcoin Options Trading Popular?

Since 2018, the so-called crypto winter, derivatives trading almost became the go-to choice for investors in the cryptocurrency space, because of its leverage and hedging functions. Bitcoin perpetual contracts, which have no expiry date and with high leverage, used to be the most popular crypto derivative among retail as well as institutional investors. However, as the bitcoin market is incredibly volatile, trade, that go against the market trend, will risk being liquidated. Investors are looking to minimize the risks in conjunction with amplifying the potential profits. Therefore, BTC Options Contracts comes to the stage!

Similar to futures trading, you can long or short BTC. But the main difference is that you cannot set the open price for the options contracts. In other words, a Call option (buy/long) and Put option (sell/short) are triggered at a fixed strike price so that you can know potential gains and losses beforehand. And the option contract will be automatically closed until its expiry.

Lets check the step-by-step guide. With BTC currently trading at $7,211.69, you predict that it will decline.

The put option contract will expire in 2 minutes. Between the Lock Time and Expiration Time, as long as Bitcoin drops below the fixed open price of $7,211.69, you would make profits.

The fact that a call option buyer has unlimited upside, while a put option seller an unlimited downside, no forced liquidation will occur. Hence, traders have more opportunities to make up for the loss of one wrong trade by starting another trade in the opposite direction.

IE Option is a cryptocurrency options exchange established in the United Kingdom. Besides Bitcoin, it also provides options trading of ETH, LTC and EOS. By making accurate trend predictions (higher or lower than the strike), you can get a maximum profit of 91%.

Signup an account in IE Option, you dont need to do KYC identification. You can easily register with email in 30 seconds.

To try options trading in IE Option, there is a demo account with 10 BTC for you. If youve been familiar bitcoin options trading and build up strategies and skills, you can switch to live mode and earn real bitcoins.

All users are eligible to get up to 100% deposit bonus. As long as your deposit is larger than 0.01 BTC, you can enjoy a deposit bonus. For example, if you deposit 2 BTC in, you will get 4 BTC in total.

Give it a shot to IE Option and make profits on options trading easily. Join IE Option now to claim 10 Free BTC welcome bonus in a demo account. Android and iOS apps are available for you to make successful trades everywhere!

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Avoid Liquidation - Trade Bitcoin with Leverage in Options - CryptoGlobe