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Bitcoin Price Analysis: Weekly TA Reveals Bulls Under Pressure

As Bitcoin closed the week on another ‘Bloody Sunday’ candle, which dropped to new 2019 lows, making yet another painful yet somewhat predictable reversal, we take a look at the price action and try to establish what we should be looking for with the week ahead.   


Bitcoin price 00 closed the week at $3536, with the decline on Sunday largely reversing the gains made through the week.

Despite making lows on Sunday at $3481, a bounce back to a close at $3542 meant avoiding a new 2018 candle close low, with the weekly candle forming an inverted hammer, which is considered a relatively bullish sign.

Despite this, Bitcoin is still stuck in no man’s land with initial significant resistance overhead at $4,050 and support at $3200.


The daily chart shows a slightly clearer picture, illustrating that Bitcoin does have some preliminary support at $3500, which is now coming under some pressure and likely to be retested again at some point this week despite there being early signs of a tweezer bottom early on Monday morning.

The more concerning factor for the bulls is the continued declining resistance which ultimately suggests that any bullish move will be capped between $3700 – $3800 where there will be significant short interest.

This would imply that there is likely to be a test towards the lows at $3200s where we last saw significant buying interest and strong historical support when Bitcoin fell from $5,000 to $3,000 during 2017.

The question will be if it is tested, could it go on to complete a W shapedbottom or Adam and Eve, or will we look to new lower lows in this bear market.

4 Hour

The 4 hour chart shows that should there be a further decline, there may be a pit stop at the $3350 range which is the 78.6% retracement level from the move from the previous lows.

If tested, a strong bounce here would be a positive sign for the bulls but the main task remains; to break the declining resistance and the $4,000 handle.

All oscillators are drifiting sideways and  not really adding anything for the analysis so are not shown on that basis.

Market Sentiment

As reported previously, the balance of market sentiment remains bullish, with the leveraged bull positions out weighing the bears by 1.4:1, which is not positive for a bullish narrative while the price is declining.

As we have seen in previous senarios like this – the bulls are essentially exposed, which leads the author to believe that a hard test of the low $3,000s is likely given what has happened

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3 Blockchain Conferences You Don’t Want to Miss in 2019

Blockchain conferences are an excellent mechanism to meet, greet, learn and perhaps, most importantly – network. Whether you are a crypto-startup looking to attract new waves of investment, an innovative developer hoping to showcase your talent to the masses or just looking to meet like-minded individuals that share the same ethos as your product or brand, blockchain conferences can facilitate these goals with ease.

While 2018 was a massive hit for blockchain conferences worldwide, 2019 looks set to continue the trend. Here we explore three of the most notable conferences lined up for 2019 that we think you should consider attending.

Japan Blockchain Conference (JBC)

Yokohama Round 2019 – 30-31 January 2019

What better place to start than one of the most crypto-friendly nations around? Not only did Japan become the first country in the world to regulate Bitcoin in the very same way that it does its domestic financial service industry, but the Japanese Yen now accounts for more Bitcoin trading volume than any other currency, at a remarkable 47% of the market.

Moreover, with more than 200,000 Japanese stores now accepting Bitcoin and other cryptocurrencies as a means to purchase goods and services in-person, the Asian-powerhouse are taking real-world adoption to the next level. As such, the Japan Blockchain Conference is set to be one of the most notable to date.

Hosted by the Global Blockchain Association, Japan Blockchain Conference facilitate a range of leading Japanese companies that are looking to enter the space, and the presence of multiple high-profile speakers will ensure that the event is a must-see opportunity.

This includes the likes of Charles Hoskinson from Cardano – a project that is well regarded in the blockchain community for utilizing the expertize of leading academics, with the aim of ensuring the long-term sustainability of the cryptocurrency eco-system.

Joining Hoskinson is Ken Kodama of Japanese-based Emurgo, John McAfee, and bitcoin believer and VC investor Tim Draper.

Consensus 2019

13-15 May 2019 – New York

Coindesk – who are often seen as the leading hub for cryptocurrency and blockchain technology news and developments are set to launch the 5th edition of their Consensus Conference. Being held at the Sheraton New York Times Square and New York Hilton Midtown, Consensus will play host to a range of industry professionals from the within the blockchain space. This will include delegates from investment firms, academic institutions, exciting startups, and policy groups.

Across three days of networking, it is believed that the Coindesk Consensus will facilitate the attendance of more than 8,800 people. While Coindesk are still keeping tight-lipped on their line-up if their 2018 edition is anything to go by, it looks set to be another heavyweight event.

The Coindesk Consensus has grown exponentially since its inception in 2015, which saw just 400 attendees. Since then, the event has attracted significant year-on-year growth, with 2019 being no exception.


4th annual DC Blockchain Summit

6-7 March 2019 – Washington

The DC Blockchain Summit is now in its 4th edition, with the event set to re-open its doors on 6-7th March 2019. In what the conference labels as ‘Advocating for the future of blockchain’ the main concept behind the DC Blockchain Summit is to bridge the gap between the crypto-world, with that of the policy community. Such discussions are paramount if Bitcoin and other cryptocurrencies are to gain global adoption. Without the collaboration and support of policymakers, real-world adoption will be hindered.

As such, the DC Blockchain Summit is the “Ground zero for many of these discussions.” To illustrate the seriousness of such a conference, there is set to be a range of speakers from within the political community.

This includes the likes of U.S. Republicans Tom Emmer, Bill Foster, and David Schweikert, who collectively make up the Congressional Blockchain Caucus. On top of this, there will also be an in-flux of representatives from the Chamber of Digital Commerce, such as Amy Davine Kim, Paul Brigner, and Perianne Boring, who all hold senior roles at the organization.

Outside of the regulatory community, Brad Garlinghouse, CEO of leading cryptocurrency Ripple, will also be making an appearance.

Blockchain conferences all around

In conclusion, while the likes of the Japan Blockchain Conference, Consensus Coindesk and DC Blockchain Summit made our list of the three most unmissable conferences in 2019; others missed out by only a smidgen.

Whether it’s from a regulatory, policy, technological, investment, development or all-around cryptocurrency perspective, 2019 looks set to be the year for blockchain conferences. From Japan to the U.S, Malta, Singapore, Australia, Russia and many, many other locations hosting notable events this year, which conference will you be attending?

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Privacy Cryptocurrency Beam Experiences Blockchain Stoppage

Update (14:04 UTC, Jan. 21 2019): Beam has now announced: “The fix was commited on Github. We will be performing additional testing. We will release the binaries in the coming hours. Thanks for your patience.”

Its GutHub page puts the error down to a bug involving “improper block generation upon cut-through of old-new UTXOs.”

Newly released privacy-oriented cryptocurrency Beam reported this morning that its blockchain is experiencing technical difficulties.

Beam announced the information on its official Twitter account Monday, saying that its network “stopped at block 25709” and that it was investigating the matter.

Within the last hour, the project tweeted an update saying:

“Issue identified and fix found. Funds are safe. Commit to GitHub in the coming hour. Binaries and detailed Post-mortem later today. Thanks for your patience and stay tuned.”

At its January launch, Beam became the first cryptocurrency based on Mimblewimble – a protocol that makes transactions confidential and virtually untraceable.

Since then, though, Beam has faced some technical issues. On Jan. 9, the team discovered a “critical vulnerability” in its wallet software and asked users to uninstall the wallet app immediately and re-download a patched version from their website.

While the critical bug was fixed, it could have put users’ funds at risk by allowing attackers to modify transactions and subsequently send funds directly into their own wallet, Beam’s developers said at the time.

Last week, a second privacy cryptocurrency based on Mimblewimble – Grin – also went live. While it has seen high interest from cypherpunks, sources told CoinDesk at the time that several VC funds were planning to mine the crypto.

Broken chain image via Shutterstock

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Bitfinex Exchange Review

Bitfinex is a veteran crypto exchange, and for a long term, Bitfinex was standing out as the leading exchange by trading volume. Bitfinex has a ‘regular’ exchange featuring many of the top 1000 altcoins. Bitfinex also owns ETHfinex which is the corresponding exchange for ERC-20 based tokens.

The exchange also offers margin trading features, with leverage of up to 3.3x. As similar to Poloniex, Bitfinex offers its users to borrow funds for larger margin positions.

Amongst the superlatives, there were some speculations around Bitfinex, some of them are also related to Tether in the field of price manipulations. There is a tight relationship between Bitfinex and Tether, as the exchange promotes the first stable coin. Bitfinex is also among the exchanges that got hacked.


UI/UX 7.5

Security 6.0

Fees 8.0

Coin Variety 8.5

Liquidity 8.5


  • High volume & liquidity
  • Variety of coins and base assets
  • Experienced team


  • Margin only up to 3.3x
  • Blamed for price manipulations

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