The crypto-currency market is growing. Capitalization of all crypto currencies exceeded $300 billion. Trading volumes are going to update local highs. Thanks to Bitcoin, the growth of capitalisation was more than 5% per day.
Yesterday BTC broke several important levels at once. The pair BTC-USD demonstrates the cardinal change of the trend from bearish to bullish. However, there is only one fact that makes me nervous - recoilless movement since July 12: BTC grew for 36% from 6100$ to 8300$ without any correction.
What to expect now?
Firstly, the goal was $7800. It was formed after the breakout of the reversal figure "head - shoulders". Now the target is 8800$, which was formed after the "bullish flag" was triggered. For many people, large volumes in the breakthrough of key levels suggest that the bearish trend is coming to an end.
Technical analysis indicates a change in mood and trend. However, at the level 8580$-8880$ there is a solid resistance range, which can slow down the movement of the pair. The breakthrough of the local ascending wedge (dotted line on the chart) sets the following target for the BTC-USD: 8580$ - 8800$ - 9100$.
SOME IMPORTANT NEWS FROM CRYPTO WORLD
1: Coinbase Takes on Cryptocurrency Gift Cards With Limited Rollout
Major U.S. cryptocurrency wallet and exchange Coinbase has entered the crypto gift card market, allowing customers in certain countries to exchange coins for brand e-certificates, according to their July 25 blog post.
SOURCE LINK {https://cointelegraph.com/news/coinbase-takes-on-cryptocurrency-gift-cards-with-limited-rollout}
2: ABCC Announces the Trading Date for Its New Token (AT)
AT trading began on July 25, 2018 and the ABCC team is continuing efforts to support the community.
ABCC, being one of the world’s emerging cryptocurrency exchanges, begins trading its native token as the ABCC team had promised.
It is no news that the Trade-to-Mine (ToM) exchange created a boon in the Blockchain community and since its issuance has performed as excellently as expected. The mining performance since AT issuance on 9th July 2018 was outstandingly successful, trade volume spiked to global rank no. 5 once and now trading volume is growing steadily.
SOURCE LINK {https://news.bitcoin.com/pr-abcc-announces-the-trading-date-for-its-new-token-at/}
3: Reddit Co-Founder Alexis Ohanian Upholds BTC $20K, ETH $1.5K 2018 Forecasts
Alexis Ohanian, a co-founder of both Reddit and VC firm Initialized Capital, upheld his $20,000 Bitcoin (BTC) and $1,500 Ethereum (ETH) forecasts for 2018 in an interview with CNBC on July 24.
Speaking of the “battle-tested” Bitcoin, Ohanian said the asset is “certainly the most robust” and “one of the best proofs” of crypto being a possible store of value — something he underscored as increasingly important in a global context of fiscal and political “uncertainty.”
Ohanian noted that “as volatile as it’s been, we see [Bitcoin] continuing to go up over the long term,” adding that his belief in the coin’s resilience has been cemented by ongoing developments to make blockchain more scalable.
SOURCE LINK {https://cointelegraph.com/news/reddit-co-founder-alexis-ohanian-upholds-btc-20k-eth-1-5k-2018-forecasts}
