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📈 Price Predictions
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Bitcoin Price Short-Term Forecast For Sept. 5, 2018

  • Vaido Veek
    📈 Price Predictions

    The market makes a pullback and this pullback is very scary

Bitcoin Price Short-Term Forecast For Sept. 5, 2018
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market makes a pullback and this pullback is very scary. Yes, we waited for a pullback but not like this one that even all altcoins are bleeding heavily.

Let's jump quickly into the action:

If we want to see a bullish market structure then we have to bounce upwards almost immediately because we are in the strong support area and break below could mean disaster.

Strong area (green triangle) and possible bounce criteria:

  1. Round number $7,000
  2. May low
  3. In the four-hour chart 100 and 200 EMA which starts to work as supports
  4. Trendline from wicks since Aug. 14
  5. Trendline from bodies since Aug. 14
  6. The market structure could still  make a higher low which will be a very good sign
  7. Bigger Fibonacci retracement level pulled from Aug. 22. to Sept.4, is 38 percent
  8. Smaller Fibonacci retracement, pulled from Aug. 4 to Aug. 30, is between the two main levels: 62 percent and 70.5 percent
  9. We still have an EMA golden cross on the four-hour timeframe (100&200).

Targets: the maximum first target could be around $7,280 but it is hard to tell how the market and how people will react to this "crash.” Definitely, people are superstition and scared again.

So, if we drop below those strong criteria's and we get a close below the strong support area at $6,767 then we have a lower market structure and we are below the EMA's which all indicates that the price may change from short-term uptrend to downtrend.

Also, we have a big continuation batter called "Rising Wedge.” Close below the rising wedge bottom trendline is an indicator that the bigger trend may continue, the bigger trend is still downwards and we can now test the lower levels.

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About the author

Vaido Veek hopes to become a leading voice in technical analysis by educating people about how the perfect TA  should look like. He has over 5 years of charting experience and loves to solve the patterns that   they show us. His slogan is "keep it simple"!

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📰 News
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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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