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The BTC/USD trading pair opened the Asian trading session at 6288-fiat and attempted an upside correction to as high as 6309-fiat. The selling pressure around the 6309-level resumed the downtrend. As a result, the pair kept forming red candles for the rest of the Asian and European trading session. A weaker dollar on an intraday basis can reinject the BTC/USD market with some upside sentiments. The pair is already forming a falling wedge pattern. The consecutive swing highs and lows coupled with decreasing volume traditionally mark preparation of a breakout action. That said, BTC/USD should attempt to knock out the upper trendline of the falling wedge pattern and rally towards 6500-fiat as its primary upside target. The RSI and the Stoch are also signaling an upside movement in BTC/USD price action. Both the indicators are inside their respective selling regions and are eyeing a pullback. (Source: ccn.com/bitcoin-analysis-falling-wedge-indicates-interim-breakout-scenario/)
According to the recent news, the civil war within the Cardano community appears to have been resolved peacefully. Michael Parsons, chairman of the Cardano Foundation, has stepped down from his leading role at the head of the Foundation Council, following demands from other community leaders for his resignation. In a terse announcement, the Swizerland-based Cardano Foundation announced the immediate replacement of its leading figure. Parson’s leadership of the Foundation has drawn accusations of poor leadership from other leading figures, including Charles Hoskinson and Emurgo CEO Ken Kodama. In a lengthy ultimatum published several weeks ago, Hoskinson and Kodama raised serious questions about the misuse of Foundation funds. In a lengthy bulleted list, the open letter enumerated “great frustration” at the inactivity and perceived failings of the Cardano Foundation and its officers, as well as “fruitless attempts” to persuade change from the council and its chairman. (Source: cryptobriefing.com/cardano-foundation-chair-resigns/)
Global provider of secure financial messaging services, SWIFT, has ousted the Central Bank of Iran (CBI) from its financial banking system. The US-led sanctions will make it difficult for Iran to settle its international deals. In response, the authorities in Iran have accelerated the development of their state-backed national digital currency. According to a local media source, Informatics Services Corporation (ISC), a private tech wing of the CBI, confirmed that they had developed the said crypto-rial. The company’s CEO Seyyed Abotaleb Najafi claimed that their digital currency would eliminate the role of international financial settlement groups like SWIFT. It will be used in a distributed or one-to-one framework for transferring value without intermediaries. Najafi believed that the reason to launch a crypto-rial goes way beyond the aim of circumventing US sanctions. The official said that their pilot program is aimed at testing the potential of blockchain and crypto technology in running a financial system on both interbank and retail level. The state now plans to deploy the crypto-rial on Iranian commercial banks in coming days which would enable them to use the tokens as a payment instrument in transactions and banking settlement. (Source: newsbtc.com/2018/11/13/iran-disconnected-from-swift-to-launch-state-backed-crypto-rial/)
A little-known cryptocurrency called AurumCoin (AU) has claimed that it was hit by 51 percent attack, and crypto exchange Cryptopia, where the cryptocurrency is listed, lost 15,752.26 AU (approx. $550,000 at the time of writing this article). However, the cryptocurrency has shifted the blame on Cryptopia. On AurumCoin’s website, it has claimed that it is not responsible to anyone since it is an open-source distributed currency. Cryptopia, on the other hand, has not yet acknowledged any loss. AurumCoin (AU) is purportedly a gold-backed cryptocurrency, where each token is pegged to the value of pure 24K gold. AurumCoin claims to back each AU with 0.75 grams of gold stored in secure vaults worldwide. It has been running its own blockchain since 2014, where AU is mineable (despite its supposed gold peg) with a hard cap of 300,000 coins. (Source: ccn.com/claim-crypto-exchange-lost-500000-due-to-aurumcoin-51-attack/)
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.