Crypto Facilities, a UK-based cryptocurrency trading platform, has launched the “first regulated” futures contracts for Ethereum (ETH), the world’s second largest digital currency by market capitalization, according to a press-release May 11. Continue reading UK-Based Crypto Trading Platform Launches “First Regulated” Ethereum Futures
The Supreme Court of India declined to grant an interim injunction against the Reserve Bank of India (RBI) circular banning banking services for companies dealing in cryptocurrency, according to a Twitter post by Crypto Kanoon May 11. Crypto Kanoon is a team of Indian lawyers engaged in crypto regulatory analysis and legal awareness. Continue reading Indian Supreme Court Denies Interim Injunction Against Reserve Bank Of India Restrictions
Litcoin made a strong base at 110, just above the previous support of 100, and has bounced back up. The 20 day simple moving average (SMA) can be used for trading Litecoin. Traders can buy and hold Litecoin as long as it is above its 20 day SMA. Currently upside target of 170-180 is visible in the next 2 weeks. The next upside target is 225 over the next 8-10 weeks.
Bitcoin bearish signal was reversed into bullish signal last week on 12 April 2018. Now the upside target is 11,100.
And as per the near-term charts, 9600 can come within next 3-4 weeks, or sooner because Bitcoin tends to move rapidly once the movement starts. Current level of 8000 is intermediate resistance, and above 8000, there may be a swift move to 9600-9900. There is a strong support at 6400, so the downside looks limited as of now. The long term chart of Bitcoin (over 3-5 year timeframe) is still very bullish, and these are all small moves compared to the big move that is likely above 15K. Please see the attached chart. Thanks.