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Newsflash of July 17, 2020

Market Cap at 7:40 (UTC) – $269,356,046,260

Bitcoin dominance: 62.4 % 

BTC $9,109.2 (-0.57%)

ETH $233.14 (-0.74%)

XRP $0.19623 (-0.54%)

Twitter hack: what do we know so far?

On July 16th, a large number of verified accounts on Twitter was hacked, asking to donate in Bitcoin. Later on, Twitter confirms (https://twitter.com/TwitterSupport/status/1283843494461624320) that at least 130 accounts were hacked and is investigating the issue. Twitter believes that this is a coordinated social engineering attack which targeted some of Twitter’s employees who have access to internal systems. Additionally, Twitter’s users will not have to reset their password as the hackers wasn’t able to access the data.

Japan is getting serious about CBDC

According to Nikkei (https://www.nikkei.com/article/DGXMZO61499170U0A710C2MM8000/), the government of Japan is considering to add CBDC in the economic plan, called, Honebuto Plan. Additionally, the report said that Japan could coordiate with other countries on CBDC matter.

Stay safe and happy trading.

Yours,

4C-Trading

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days. For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.

Market Analysis of July 27, 2020

The marketcap has been moving up (+2.4%) since yesterday. The total capitalization is 305 077 327 573 USD.

Bitcoin totals 187 511 673 178 USD of capitalization for a dominance of 61.4%. Ethereum’s marketcap is 35 794 200 795  USD, followed by Tether with 10 028 097 582 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $10208, at the upper end of the range in the resistance zone. We had a nice pump this w-e.

The daily technical situation is positive and remains positive in 4 hours.

What to do about it?

The BTC has gone above $10,000 but it needs to go above $10,450 to remain bullish, otherwise the rejection and correction scenario is likely.

  • The supports of the day are at 10000$ — 9800$
  • The resistances of the day are at 10450$ — 11000$

Ethereum Analysis

ETH closed higher for the 6th day in a row and is trading around $322 after a fairly bullish w-e.

The daily technical situation is positive and remains rather positive in 4 hours despite the fact that WaveTrends has just crossed lower.

What to do?

ETH has not stopped rising and has exceeded the resistance of $314 and is still moving up for the moment. A correction could happen and it would be interesting to test the $314 resistance to see if it has become a support.

  • The supports of the day are at 314$ — 270$
  • The resistances of the day are at 335$ — 367$

Conclusion

The daily technical situation is still positive for ETH and BTC after a beautiful bullish w-e 

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Market Analysis of July 24, 2020

The marketcap has been moving down (-0.12%) since yesterday. The total capitalization is 284 686 513 604 USD.

Bitcoin totals 175 159 094 712 USD of capitalization for a dominance of 61.5%. Ethereum’s marketcap is 30 250 594 849  USD, followed by Tether with 9 999 165 666 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher with a doji indicating indecision in the market and is trading around $9511. Its dominance continues to decline.

The daily technical situation is positive but rather negative in 4 hours with a WaveTrends down and a MACD about to cross lower.

What to do about it?

Well as long as the 9470 level holds, there’s no reason to be bearish. And that means we can throw a long one with our eyes closed, no! If the level doesn’t hold, we can hope to see the $9380 again.

  • The supports of the day are at 9450$ — 9000$
  • The resistances of the day are at 9800$ — 10050$

Ethereum Analysis

ETH closed higher and is trading around $272. This is just above the old resistance of $270 which has become a support.

The daily technical situation is positive and remains rather positive in 4 hours despite a WaveTrends that crosses lower.

What can we do about it?

Well ETH remains bullish but the $280 level would have to break before we can confirm a bullish trend.

  • The supports of the day are at 270$ — 253$
  • The resistances of the day are at 280$ — 314$

Conclusion

The daily technical situation is still positive for ETH and BTC. 

You can join us on Telegram for a follow-up of the market throughout the day.

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Newsflash of July 24, 2020

Market Cap at 9:00 (UTC) – $284,836,184,009

Bitcoin dominance: 61.5 % 

BTC $9,499.88 (-0.1%)

ETH $270.03 (+2.62%)

XRP $0.203515 (-0.05%)

Russia legalized crypto

According to the local news outlet, Regnum (https://regnum.ru/news/economy/3017181.html), the lower house of Federal Assembly of Russian has approved a bill called “On Digital Financial Assets” which defines the legal status of crypto in Russia. However, the bill does not allow crypto to be used as as a medium of transaction.

OCC allows federally chartered banks to provide crypto custody service

According to the recent article (https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-98.html), the Office of Comptroller of the Currency said that the bureau recognized the importance of digital assets and the authority for bank to provide custody service for crypto. Therefore, OCC believes that providing custody service for crypto is a modern form of traditional bank activities.

South Korea to tax 20% income created by trading crypto

The Ministry of Economic and Finance of Korea has published (http://www.moef.go.kr/nw/nes/detailNesDtaView.do?searchBbsId=MOSFBBS_000000000028&searchNttId=MOSF_000000000041560&menuNo=4010100) a new tax code on July 22nd. Per the new tax code, income from crypto trading higher than $2000 will be taxed 20% with other taxable incomes. Additionally, non-Koreans will also be taxed through exchange transaction fees. Moreover, the new tax code is expected to be passed on October, 1st, 2021.

Stay safe and happy trading.

Yours,

4C-Trading

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days. For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.


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Market Analysis of July 22, 2020

The marketcap has been moving up (+0.23%) since yesterday. The total capitalization is 276 537 868 458 USD.

Bitcoin totals 171 936 798 063 USD of capitalization for a dominance of 62.2%. Ethereum’s marketcap is 27 153 152 818 USD, followed by Tether with 9 198 674 059 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is currently trading around $9326 above its Weekly Open after testing without breaking the $9450 resistance level.

The daily technical situation is positive and remains rather positive in 4 hours but the WaveTrends has just crossed lower.

What to do about it?

If we break the $9450 resistance, a test of the $9600 is possible. If we don’t close above 9450, a return to the Monthly Open is possible.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed higher and is trading around $243 in the upper part of the range, a level that was a former resistance.

The daily technical situation is positive and remains rather positive in 4 hours but like the BTC, WaveTrends has just crossed lower.

What to do?

If ETH holds at the 243 level and closes at or above this level, we can hope to see the top of the range again, $253.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is positive for ETH and BTC, let’s wait for the closing to see which direction they will take. 

You can join us on Telegram for a follow-up of the market throughout the day.

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Market Analysis of July 20, 2020

The marketcap has been moving up (+0.41%) since yesterday. The total capitalization is 272 781 118 688 USD.

Bitcoin totals 168 954 454 690 USD of capitalization for a dominance of 61.9%. Ethereum’s marketcap is 26 652 418 275 USD, followed by Tether with 9 163 438 286 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is now trading around $9188. What happened this week? Well like last week, not much! The BTC is contracting and still doesn’t offer us a good opportunity to send a trade.

The daily technical situation is positive, MACD and WaveTrends have just crossed higher. And the situation remains positive in 4 hours.

What to do about it?

Still not much, the BTC is in the middle of the range and we would first need a support or resistance test to have a better entry point.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed higher and is trading around $239 after rebounding to $228, ETH can’t get above $240.

The daily technical situation is rather positive, WaveTrends has crossed higher but not yet the MACD. In 4 hours the situation is very positive.

What can we do about it?

As ETH has not been able to exceed $240, a return to the $230-$228 level is likely, which would give us a nice little short.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is positive for ETH and BTC, don’t touch BTC yet but you can short ETH. 

You can join us on Telegram for a follow-up of the market throughout the day.

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Market Analysis of July 17, 2020

The marketcap has been moving down (-0.06%) since yesterday. The total capitalization is 268 867 448 917 USD.

Bitcoin totals 167 692 112 742 USD of capitalization for a dominance of 62.4%. Ethereum’s marketcap is 26 017 392 575 USD, followed by Tether with 9 177 717 407 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower just above its Monthly Open but is currently trading below around $9101. Its dominance remains fairly weak.

The daily technical situation is still negative and remains negative in 4 hours.

What to do about it?

The BTC is still in the middle of the range and it is therefore not recommended to trade it. It would take a daily close below $9000 to hope to see the $8600.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed lower and is trading around $232 in the middle of the range, so it is not advisable to trade it as well.

The daily technical situation is negative but in 4 hours WaveTrends has crossed higher.

What to do?

To launch a short, you would need a fence below $228. To launch a long, you would need to fence above $234.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is still negative for ETH and BTC, we need to wait for a better entry point.

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

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Newsflash of July 17, 2020

Market Cap at 7:40 (UTC) – $269,356,046,260

Bitcoin dominance: 62.4 % 

BTC $9,109.2 (-0.57%)

ETH $233.14 (-0.74%)

XRP $0.19623 (-0.54%)

Twitter hack: what do we know so far?

On July 16th, a large number of verified accounts on Twitter was hacked, asking to donate in Bitcoin. Later on, Twitter confirms (https://twitter.com/TwitterSupport/status/1283843494461624320) that at least 130 accounts were hacked and is investigating the issue. Twitter believes that this is a coordinated social engineering attack which targeted some of Twitter’s employees who have access to internal systems. Additionally, Twitter’s users will not have to reset their password as the hackers wasn’t able to access the data.

Japan is getting serious about CBDC

According to Nikkei (https://www.nikkei.com/article/DGXMZO61499170U0A710C2MM8000/), the government of Japan is considering to add CBDC in the economic plan, called, Honebuto Plan. Additionally, the report said that Japan could coordiate with other countries on CBDC matter.

Stay safe and happy trading.

Yours,

4C-Trading

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days. For any information about our subscriptions, please visit our website or contact @butler_4c_bot directly to get all the information you need.


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Market Analysis of July 16, 2020

The marketcap has been moving down (-1.04%) since yesterday. The total capitalization is 269 028 186 325 USD.

Bitcoin totals 168 324 349 305 USD of capitalization for a dominance of 62.6%. Ethereum’s marketcap is 26 099 453 523 USD, followed by Tether with 9 214 378 535 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower and is trading around $9090, below its Monthly Open. The dominance rose slightly but remains fairly low. Unfortunately, there is still little to say about its evolution.

The daily technical situation is negative and the MACD has just crossed lower. The situation remains quite negative in 4 hours.

What to do about it?

Well the BTC is still in the middle of the range, the worst place to launch a trade. However if we close the day below $9000, a short can be launched and we can hope for a test of the $8600.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed lower as well, trading around $231 after being pushed out of the $228 zone, which serves as a support at the moment.

The daily technical situation is negative and remains negative in 4 hours.

What to do?

The situation seems bearish today and if the $228 support doesn’t hold we could very well go and test the lower end of the range but for now ETH is in the middle of the range, which offers no entry point to trade.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is still negative for ETH and BTC, it’s bearish on short term

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

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Market Analysis of July 15, 2020

The marketcap has been moving up (+0.31%) since yesterday. The total capitalization is 271 854 525 547 USD.

Bitcoin totals 169 675 530 132 USD of capitalization for a dominance of 62.4%. Ethereum’s marketcap is 26 724 334 832 USD, followed by Tether with 9 187 266 438 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher with a hammer-shaped candle and is trading around $9216. We are still in the range with low dominance and low volume.

The daily technical situation is rather negative and quite negative in 4 hours.

What to do about it?

We still have to be patient, yesterday’s candle fence does not offer us a good entry point to throw a long or a short.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9450$ — 9800$

Ethereum Analysis

ETH closed higher with a candle pointing to market indecision and is trading around $238.

The daily technical situation is negative and remains negative in 4 hours.

What to do?

As with the BTC, we must wait for a better entry point or a support or resistance test

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is still negative for ETH and BTC.

You can join us on Telegram for a follow-up of the market throughout the day.

For any question, our team will be happy to answer you on our support which is open 7/7 days.

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