Cryptocurrencies continue moving in a range. Yesterday, after a significant bullish impulse, Bitcoin could not move above $10,400. Currently, digital currencies are valued around 2% less than 24 hours before. The market capitalisation is now $264.87, and Bitcoin dominance is 68.9%
The below heat map shows that the drop is almost homogeneous across the board, except for Binance coin which drops 4.15%.
What is happening?
Binance announced the launch of a lending platform. I will return up to 15% annualised interest rate for 14-day fixed-term deposit.
— Binance (@binance) August 26, 2019
More information by cryptoslate.com.
Craig Wright lost the case against the deceased programmer and former business partner Dave Klieman. The Court found Wright guilty of perjury about his alleged bitcoin creation and has ordered to return 50% of the BTC that Wright held before the 2013 year-end to the Klieman estate. The BTC amount to give back goes beyond one billion dollars, although Wright can still appeal the decision.
“Dr.Wright is Dishonest. He is a Serial Forger!” – Magistrate Judge Bruce Reinhart
Brazil Central bank adopts International Monetary Fund guidelines for crypto classification. Traded cryptocurrencies will be listed as non-financial assets and will be considered as goods on the BCB balance sheet. Source: cointelegraph.com.
FINMA, the Swiss financial regulator, has approved two applications for banking licenses issued for blockchain business. Source ccn.com.
What a great day for Switzerland as a #Blockchain and #Crypto Nation! For the first time, #FINMA has issued banking and securities dealers’ licences to two pure-play blockchain service providers. The companies involved are SEBA Cry…https://t.co/qRsmfsRm6D https://t.co/I3HA2Yx6uA
— Alexander Schneuwly (@A_Schneuwly) August 26, 2019
Bitcoin drifts sideways, currently in the middle of the range between $9,758 and $10,472. The descending has been traversed, so now the sideways action is official. The is still somewhat .
The daily chart shows a bullish bias. We can observe that the stochastics is pointing upward and the MACD, although still in a bearish phase, its histogram approaches the zero-line, where a crossover to a bullish phase will take place.
Finally, in view that the $10,000 support seems to be too strong to break, for some BTC holders, this might be a good place to add to their positions. Conservative investors might wait for BTC to close above $10,500.
Ripple continues following the descending trendline. Currently near the 0.266 level. slightly and near the oversold area. XRP seems to try to find a bottom. is low so that a buying spike can send hit back to 0.28.
Ethereum is moving in a sideway triangular formation, but still, the underlying trend is bearish. The triangular structure usually is a continuation pattern. Therefore, the main scenario is for more ETH descents. and Sthoch are aiming in this direction.
A close above $195 would be a good trigger to go long since we see high volume in the last candle that shows buyers are looking for a reason to buy.
Litecoin is moving in a lateral channel, but the daily chart shows it is on the edge of a formation that resembles a large head-and-shoulders pattern.
A failure of the current supports would push the price to $60. That is dubious, though, as supports seems to hold and, also we see in the bullish candles as observed in the 4H chart.
and Stochastics indicate LTC probable future direction could the upside. The confirmation will occur when the price closes above this sideways structure.