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    [Daily Discussion] Thursday, May 03, 2018 Bitcoin Markets

    May 03, 2018

    [Daily Discussion] Thursday, May 03, 2018 Bitcoin Markets

    [Daily Discussion] Thursday, May 03, 2018

    Posted: 02 May 2018 09:05 PM PDT

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

    Other ways to interact:

    submitted by /u/AutoModerator
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    [Altcoin Discussion] Thursday, May 03, 2018

    Posted: 02 May 2018 09:06 PM PDT

    We are trialing an altcoin daily discussion thread. If this doesn't go well we'll cancel it.

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Goldman Sachs to Open a Bitcoin Trading Operation

    Posted: 02 May 2018 03:37 PM PDT

    https://www.nytimes.com/2018/05/02/technology/bitcoin-goldman-sachs.html

    Goldman Sachs, perhaps the most storied name in finance, is bucking the risks and moving ahead with plans to set up what appears to be the first Bitcoin trading operation at a Wall Street bank.

    submitted by /u/honest_expression
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    05/03/2018: Bitcoin Price Technical Analysis – Can Bulls Keep Charging?

    Posted: 02 May 2018 10:25 PM PDT

    Bitcoin Price Key Highlights

    • Bitcoin price is still in an uptrend and attempting to break past the $9000 barrier.
    • Price is also inside an ascending channel on its 1-hour chart and appears to be setting its sights on the top.
    • A continuation of the rally could take bitcoin price up to the $9500 level.

    Bitcoin price bounced off the bottom of its ascending channel pattern on the 1-hour chart to show that bulls are still in the game.

    Technical Indicators Signals

    The 100 SMA is above the longer-term 200 SMA to indicate that the path of least resistance is to the upside. In other words, the rally is more likely to continue than to reverse. However, the gap between the moving averages has narrowed to signal weaker bullish momentum.

    If a downward crossover materializes, bitcoin price could fall back to the channel support at $9000 for another test. Stochastic is already dipping into overbought territory to reflect exhaustion among buyers, which suggests that sellers have a chance at taking over.

    Market Factors

    The dollar got a boost even after a brief selloff during the FOMC statement. Policymakers made some notable changes in their actual statement, leading some to have doubts about the pace of tightening in the months ahead.

    Bitcoin price has managed to stay resilient, though, as Goldman Sachs reportedly has plans to have bitcoin trading operations. This way, it can allow its clients to invest some of their funds in the industry, which would be supportive of liquidity and volumes.

    As it is, bitcoin is already gaining adoption as a store of value and medium of exchange, which could continue to keep prices supported. Apart from that, many expect more exchanges to go live or tap into more markets, also supporting trade activity.

    Lastly, the emergence of ETFs based on bitcoin could create simpler ways for the investing public to enter the space.

    submitted by /u/himadri-saha
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    Chinese Cryptocurrency Exchange Huobi Initiates $1 Billion Blockchain Fund

    Posted: 03 May 2018 12:07 AM PDT

    Huobi Labs in conjunction with Tianya community has set out to launch a $1 billion global blockchain fund in Hainan Province, China.

    The two signed a joint agreement on strategic cooperation last Sunday with the aim of building a "Global Cultural and Creative Blockchain Lab" on the island of Hainan.

    This move follows closely in the wake of an announcement by the Chinese government that it would be setting up a global free trade zone on the island by the year 2020. The idea behind the project is to offer foreign companies greater freedom in an economic sense.

    Huobi Group thus aims to exercise its various blockchain industry advantages such as technological prowess, talent, capital and other resources in making a positive contribution to the project. Through the development of Hainan Special Economic Zone, it hopes to undertake an economic reform mission in the area.

    submitted by /u/instantemails
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    Viewing bitcoinwisdom/cryptowat.ch / tensorcharts etc on Microsoft Edge browser

    Posted: 03 May 2018 05:38 AM PDT

    Hey guys. Decided to post in this subreddit over say a microsoft sub reddit due to a higher probability that there are some tech savvy people in this sub who use these sites.

    I switched a few months ago from Mac OS to PC (bought a surface book 2 laptop - love it). Everything I have read states that Microsoft's Edge browser provides the best performance in Windows 10. Being a day trader, for obvious reasons, having these sites (along with tradingview- which also gives shit performance) working well is essential.

    Does anyone else find that these sites lag incredibly and are essentially unusable on microsoft edge browser? Is there a work around. Is there a setting that needs to be enabled to allow proper rendering?

    They all work perfectly in google chrome for what its worth.

    Once again, apologies for posting in this sub but figured would get best responses for people who actually use these sites.

    submitted by /u/TheCapitalR
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    BCH looks to go "silent before the storm" - momentum rally upto $1800 and $2100 likely. BTC & ETH to fight uphill battle of $10,000 and $750 respectively for relative strength. Weekly Analysis

    Posted: 03 May 2018 05:45 AM PDT

    📷

    Bitcoin is representing a gain of just over a percent in last 24-hours, but is consolidating well above the support level mentioned in our previous analysis.

    BTC has moved inside an ascending trade channel and the baseline of the channel is acting as subtle support hinting Bitcoin to go up in relative time. In mid-term objective we expect BTC to gain a positive momentum once the intraday resistance of $9,500 is breached.

    If the intraday resistance is crossed over, we shall see a positive momentum to $10,200 and $12,000 in coming time. Forming a bullish crossover, BTC also gains more strength on lower levels of support.

    Our mid/long term bullish view will be invalidated if BTC falls below $8,500 and $7,800.

    Read the full report

    submitted by /u/hodley
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