- Mainstream Currency Price as of 1:00 PM UTC from Coinbase Pro:
· BTC —9,247.01 USD
· ETH —185.00 USD
· EOS —3.358 USD
· XRP —0.2934 USD
2 The Fear Greed Index: 49 — Neutral
3 Crypto Updates:
• Blockchain and AI Have ‘Revolutionized’ War — India Defence Minister
India’s Defence Minister believes blockchain technology, artificial intelligence (AI) and big data will form part of the future of warfare.
As local daily news outlet Times of India reported on Nov. 4, Rajnath Singh highlighted the potential of blockchain, along with big data and AI, in defense operations.
Speaking to a range of delegates from 80 countries in Delhi, Singh appeared under no illusion about India’s plans to access innovation as the global industry evolves. He explained:
“The role of AI, big data and blockchain technologies has already revolutionized the existing paradigm of warfighting. The defence industry is undergoing a churning to cope and employ these technologies, in order to safeguard the safety and security of critical infrastructure.”
India will hold its annual defense conference, DefExpo 2020, in February.
• Bitcoin Price Analyst: “Second Phase” of Bull Market Triggers at $14k
Bitcoin (BTC) was trending higher on Nov. 4 as sideways behavior gave way to more purposeful upward momentum across markets.
Data from Coin360 reveals BTC/USD tackling $9,300 on Monday, rising to a 24-hour high of $9,310 on exchanges after dipping as low as $9,080.
The latest action continues the weekly trend for Bitcoin, which has seen the largest cryptocurrency range between just under $9,000 and just over $9,500. Those levels effectively formed support and resistance, respectively.
• Nasdaq-Powered Security Token Exchange Shutters to Pursue Merger
Just nine months after its launch, the Nasdaq-powered digital trading platform DX.Exchange is temporarily shutting down as it pursues a merger or outright sale.
The Estonia-based platform made the announcement on Nov. 3, informing users that “the costs of providing the required level of security, support and technology is not economically feasible on our own.”
• Czech Central Bank Prepares Fine For Calling Physical Bitcoins Coins
Bitcoin (BTC) friendly Czech crypto-anarchist movement Paralelní Polis has received a warning from the country’s central bank for issuing its own coins.
As representatives reported on Twitter on Nov. 3, the Czech National Bank (CNB) has objected to Paralelní Polis using the term “coin” to describe commemorative silver tokens it is currently minting.
In 2018, a new law appeared giving sole rights to the word “coin” to the CNB.
“Czech National Bank sent us an official threat that if we continue to use the word ‘Mince’ (‘Coin’) on our site, we will be fined. The bank claims to have a #Monopoly on the word,” the Twitter post reads.
Speaking to local media outlet Seznam Zprávy, Martin Leskovjan, the group’s chairman, described the situation as “completely nonsensical.”
“We’re calling the coin a coin,” he summarized.
• China: Blockchain Is the Future But Keep it Rational – Avoid ‘Aircoins’
China’s official state-owned media has endorsed “orderly” blockchain innovation but cautioned the public to “keep it rational” and avoid the hype around “aircoins.”
On Oct. 4, Dovey Wan — founding partner of blockchain-based investment company Primitive Ventures — tweeted two screenshots showing a rough translation of the new report from the CPC-owned English-language news portal China Daily.
4 Trader’s View:
• Alanmasters from TradingView: Bitcoin Sideways W/ Bullish Tendencies Continues | More Altcoins
Bitcoin ( BTCUSD ) continues with its sideways consolidation as you can see on the chart above. The trading volume is really low so a strong move can happen anytime...
On top of the sideways action, Bitcoin is leaning more towards the bulls... Why?
Multiple of our signals remain bullish , for example, the RSI is above 50 and BTCUSD is trading above EMA10, but the trading volume is so low that a breakdown is as likely as a breakout. Anything can happen with this low volume .
As long as Bitcoin remains within the light blue zone, additional sideways action is expected.
The altcoins continue to grow, hitting higher highs and higher lows... Bitcoin is doing strong consolidation, we remain bullish until the signals turn.
Conditions for change
If Bitcoin moves lower and closes below EMA10 ($9213) or EMA50 ($9107), its bearish potential is activated and we look for the next support.
In the meantime, we are on the bull's side and continue to enjoy the altcoins growth.
What's your take on where Bitcoin is headed?
Share your thoughts with us in the comments section below.
Namaste.
• ThatChartGuys from TradingView: BTC Grinding 12H EMA 12
After a lack of follow through setting our daily higher low, we have seen both bulls and bears unable to gain a clear edge in the short term this past weekend. There are likely now a lot of bull stops under $9,000 and a lot of break stops over $9,433. We are waiting for a volume and volatility spike in the short term, which was missing for the bulls over the weekend.
We are seeing the sideways action on larger cap alt coins as well, who normally we would look to gain some independent movement when BTC trades this sideways.
Remain patient, have a game plan, and ensure volume and follow through, whatever direction!
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