From 10 to 12 May, the share price fell by 12 per cent. There it was able to catch up again and rise slightly. This upward trend, together with the development between 12 and 17 April, describes the support from an upward channel.
The Bitcoin code course fell this week
The Bitcoin code development since the beginning of February can be described in the form of a symmetrical triangle pattern. Since the middle of April, the Bitcoin code has been moving in an upward-channel. Overall, one comes to a neutral price estimation. The most important support is currently 6,873.00 Euro, the first interesting resistance is 7,450.00 Euro.
As already described in the Altcoin market analysis, the Bitcoin price fell victim to FUD this week. Overall, it lost 12 percent compared to the May 10 price. There, however, he was able to catch himself again and recapture some of the lost territory. Currently the price is just below the exponential moving averages EMA50 and EMA100.
The MACD (second panel from above) is currently negative, but is rising. Accordingly, the MACD line (blue) lies above the signal (orange).
The RSI is at 53 and thus bullish.
From the indicators one would get a rather bullish impression. However, what prevents this is a look at the long-term development:
We see that Bitcoin has been going through a triangle pattern since the beginning of February. Recently, the resistance of this pattern was tested – without success so far. Although it is still interesting to look at the daily candles that the price is currently testing the EMA50 as resistance, the positive but falling MACD and the RSI at 50 with the above values lead to a neutral assessment.
Support and Resistance of the Bitcoin code
The first Bitcoin code support is 6.873,00 Euro and is described by the minimum of May 12th. This roughly coincides with the support of the current up channel. Another support is described by the plateau between 30 March and 11 April at 5,698.59 Euros. This is at the level of the Triangle Pattern support. Read more info about the Bitcoin code.
The first resistance is 7.450,00 Euro and thus on the level of the EMA100. If the price should overcome this level, a further resistance would be described by the price before the price fall of this week at 7,882.00 euros. This resistance is also equal to the resistance of the triangle pattern mentioned above.
Entry Points, Stop Losses and Targets
The neutral assessment advises to wait and see. If the price falls below the support level, this would be an interesting entry for a short position. Target would be the support of the triangle pattern, stop loss the first support at 6.873,00 Euro.
Should the price bounce off one of the supports or rise above the first resistance, this would be an interesting entry point for a long position. In the first two cases the support lines can be used as a stop loss, in the case of a breakthrough of the resistance the EMA50, which is currently around 7,400 Euros, is the best choice. The target would be the resistance of the triangle pattern at 7.882,00 Euro. After the breakthrough of the triangle pattern, risk takers could hope for a retest of the resistance from the upward channel and aim for another target at about 8,500 Euros. In this case, however, the stop loss should be tightened accordingly!
Sowa Labs comes from Predictive Data Analytics. For years we have been dealing with data and text mining as well as self-learning systems. Our specially created AI examines almost two million tweets every day for the Cryptoradar. These are then filtered and processed according to various criteria. At the end of the day, around 250,000 tweets remain, from which we calculate buzz and sentiment indicators. Our systems actually read each of these tweets and evaluate it positively, negatively or neutrally in relation to the respective crypto currency. This shows a certain market sentiment. Twitter is particularly well suited as an information medium for the cryptographic market, where almost all relevant information is shared within seconds.
“BISON will comply with all laws and obligations applicable in Germany”.
What are the biggest challenges in the development of the Bitcoin profit?
With BISON, we want to offer a Bitcoin profit app that works simply, safely and reliably. If the customer no longer has any complicated technical hurdles, we have to overcome them accordingly. This doesn’t always make development easy, for example with a view to safe storage for the customer. More about it: https://www.geldplus.net/en/bitcoin-profit-review/
The fact that we are launching the app on the German market is also not trivial: BISON will comply with all laws and obligations applicable in Germany in order to offer the customer maximum security and reliability.
Do you already have plans as to what will happen after the Bitcoin profit in September?
In any case! Bitcoin profit will develop continuously. On the one hand, we want to expand the universe of tradable crypto currencies like this: https://www.forexaktuell.com/en/bitcoin-profit-scam/. This is not easy because you have to consider the technology behind each currency for safekeeping. We also plan to launch BISON in other European countries. In addition to German-speaking countries, we find Scandinavia and the Benelux countries exciting. Last but not least, we are permanently expanding the features in BISON. We absolutely want to provide our customers with even more decision support when investing in crypto currencies, for example with well-prepared information and suitable alerting.
The increasing number of digital crime cases shows the need for a reliable way to protect one’s own digital identity. Therefore, the goal of KYC-Chain is to create the highest level of trust through consensus on user identity. This service, which is currently under development, uses existing “know your customer” rules and plans to simplify this process.
Identity Wallets provided by the Bitcoin trader platform will allow users to reveal only necessary information
KYC-Chain will use Ethereum and will use the help of “trusted gatekeepers” – legal entities that are authorized by law to authenticate KYC documents: https://www.geldplus.net/en/bitcoin-trader-review/. Such a trusted gatekeeper would use a user ID using the KYC chain platform and authenticate it. In a decentralized data repository, corresponding Bitcoin trader documents would be stored, which could later be viewed by authorized parties to confirm an ID.
Decentralized help for companies
4G Capital provides microenterprises in Africa with immediate access to microcredit and has developed a concept for a dapp that uses smart contracts for this task.
Donors would then be able to use this Dapp to support micro-enterprises. The money lent – in the form of a digital currency – would be converted into Fiat using a 4G capital system and made available to the applicant.
In addition to these loans, which are not 100% secured, the company offers management consulting for micro-enterprises. The big goal of this project is to integrate individuals, companies and entire markets into the world market and thus help the African economy on a grass roots level.
Microblogging on the crypto trader chain
As a working crypto trader prototype, a review was created as a decentralized microblogging service that stores data on the Ethereum blockchain. The service has a generic Twitter-like function, so that messages up to 160 characters can be transmitted.
Since this service is decentralized, censorship is not possible: as soon as something is posted, it can only be deleted by the author himself.
You can also send donations to individual accounts in Ether. The team behind ETH-Tweet proposes to use this as a reward for good content – similar to the tip bots on reddit.
More power to the artists – Ethereum thanks to
Ampilative Art has set itself the goal of offering artists more opportunities and perspectives via a platform that corresponds to a social network.
It is planned as a platform where individuals can participate in the artist community and be remunerated by the community.
Artists will be able to create their own galleries in which their art will be accessible to others for free. Other users of the network can now reward the artist with donations, comments, ratings, or by sharing these galleries. The more an artist actively participates in the community, the greater the likelihood of being rewarded.
In addition, any revenue from Ampliative Art will be distributed among users according to their reputation.
As Dapp, Ampliative Art will be a kind of transparent cooperative in which users can cooperate and send and receive rewards.
Crowdfunding about Dapps
WeiFund uses Web3.0 technology to develop a crowdfunding solution on the Ethereum ecosystem.
Since, according to the project, they will only be one of many crowdfunding platforms in Web 3.0, they want to motivate these other platforms to cooperate by bringing crowdfunding utilities to market. These will be open source, modular and extensible. All critical aspects of the platform are decentralized.
In order to use WeiFund, WeiFund will first be opened in a Web3.0-enabled browser – for example Ethereums Mist – to initiate, search, manage and participate in crowdfunding campaigns.
The interface and user experience will be quite similar to known crowdfunding platforms like Kickstarter or GoFundMe, but all funds will be paid out in ether. WeiFund will also use smart contracts so that simple donations can become complex contracts.
Finally, Web3.0 browsers will use their own wallet systems so that payments within WeiFund will be secure and verifiable.
Imagine a company or service that is not controlled by a person, a board of directors or any other group whatsoever. This is to be achieved through smart contracts and Dapps.
Decentralized applications – Dapps in new German – is one of the newer ideas of the blockchain community
With the help of autonomously working programs stored in the blockchain, so-called smart contracts, proponents of this technology have developed a vision of a world in which everything that is needed for central management is controlled by intelligent contracts in the blockchain.
Bitcoin can be seen as the first dapp; the protocol is open source, rewards those who stand up for Bitcoin, needs no central authority and uses the blockchain to provide an online currency to the world.
These principles are now being used by visionaries for various online services in the form of different dapps. Even though this is a new field, the number of Dapps is increasing and many already exist in different phases of the development process.
Ethereum’s decentralized blockchain and its internal currency ether are the tools of choice for Dapp implementation. The Ethereum network has been created especially for this purpose and the Ethereum Foundation regularly organizes hackathons to promote decentralized applications.
All well and good – but what can you do with a Dapp? Here some use cases are discussed, which use the Ethereum Blockchain.
Dapps as an enrichment of the internet
The Vevue project promises to “bring Google Streetview to life”. Users are invited to share short video clips of restaurants, hotels, places, events and much more with users from all over the world.
The user does not need more than a smartphone and can earn equity by processing requests from the community Bitcoin and even Veuve. With the help of a Google Chrome extension, these “Veuves” are also accessible via google maps.
An app called “Make Videos, earn Bitcoin” is already available in the Google Play Store – even if it only does justice to the first half of the name and you can’t earn a Bitcoin.
Create worlds through Dapps in Etheria
Etheria is a sandbox game that strongly reminds of Minecraft: Players can buy certain tiles, create blocks from them and finally build things with them.
According to the project website the whole world as well as the interactions of the players are stored in the Ethereum Blockchain.
Until now, all virtual worlds were controlled by a central entity. In Etheria, however, all aspects of the world will be subject to a consensus of all those participating in the world.
This means that Etheria cannot be censored or put offline by anyone, neither by a government nor by players, nor by the “fivedogit”, the developer – Etheria will exist as long as Ethereum exists.