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Recently, Bitcoin has been trading sideways while maintaining the support at $6,378. Besides, there is another stronger support that has been highlighted at $6,370. Bitcoin price is trading below the moving averages. Similarly, the 100SMA is below the longer term 200SMA; this means that the bears are quite present and Bitcoin is inclined to correct lower as opposed to moving higher. The is horizontal in the negative region while the is ranging at 45.65%. The bulls have the power to defend the above mentioned short-term support areas, at the same time, a break above $6,400 and the moving averages will see BTC/USD gain momentum towards $6,500. (Source: https://www.fxstreet.com/cryptocurrencie...)
According to the news, Litecoin Core 0.17, which the Litecoin Foundation said was “upcoming”, will deliver a host of end-user improvements. Specifically, while Litecoin currently costs around $0.05 in average fees, after the update this will reduce closer to $0.005. This, Alternative Assets performance analyst and LearnCrypto. president Nich Hellmann notes, will end the status quo in which Litecoin is more expensive to use than Bitcoin Cash . Despite its larger market cap, he continues, Bitcoin Cash is slower and has a more “contentious” community. “Currently because the blocks aren’t full there is no need to pay higher fees, which is one reason why the move is being taken,” developers wrote explaining the updates. (Source: https://bitcoinist.com/litecoin-core-bea...)
An arbitration body in China has ruled that cryptocurrencies such as Bitcoin are legally protected as property, in a case published Oct. 25 via the arbitrator’s WeChat account. The Shenzhen Court of International Arbitration ruled in favor of an unnamed plaintiff in an equity transfer dispute, in which the defendant failed to return holdings of Bitcoin , Bitcoin Cash and Bitcoin Diamond as had been agreed upon in a contractual agreement. According to the case outline, the contract had authorized the defendant to trade and manage the plaintiff’s portfolio of 20.13 BTC , 50 BCH, and 12.66 BCD for a stipulated time. When the defendant failed to return the holdings as per the agreed schedule, the plaintiff brought the case before the arbitrator, seeking the return of his assets with interest. The arbitrator concluded that the contract was legally binding. The ruling thus ordered the defendant to uphold his contractual obligations and return the assets under dispute with interest (calculated by the arbitrator as being worth $493,158.40), as well as to pay a penalty of 100,000 yuan ($14,400). (Source: https://cointelegraph.com/news/chinese-a...)
The Supreme Court of India has asked the country's government to provide an opinion on cryptocurrencies, amid legal fallout from a ruling by the in April. On Thursday, the court held a hearing on a number of petitions filed by local cryptocurrency exchanges, as well as the Internet & Mobile Association of India (IAMAI), over the Reserve Bank of India's (RBI) order banning domestic banks from providing services to crypto firms. The court concluded by requesting that the government state its view on the matter within two weeks, The Economic Times reported Friday. Nischal Shetty, founder and CEO of Indian crypto exchange WazirX, said in a tweet that the court has asked the government to "file an affidavit related to the findings of the crypto committee set up by them." "The government must give some finality to the issue. We have got employees. There are jobs," Nakul Dewan, legal counsel for nine of the cryptocurrency exchanges included in the hearing, was quoted as saying to The Economic Times. The next motion hearing on the matter will be held on Nov. 20, according to a Supreme Court update. (Source: https://www.coindesk.com/india-supreme-c...)
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.
According to our machine learning models, the system has recommended not to trade within this three-hour period.
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We do not really integrate long-term technical analysis into our forecasting tools as we believe technical analysis is more suitable for short-term predictions. However. let the market eventually decide who is right :)
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