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Technical analysis of BTC/USD for 15/08/2019
Crypto Industry News:
Samsung’s South Korean technology conglomerate has quietly added Bitcoin support to its decentralized app store, Blockchain Keystore.
According to updated information on the Samsung Developers site, Keystore now supports Bitcoin, as well as Klaytn, a cryptocurrency released by Korean Internet giant Cocoa.
As noted on the site, Samsung’s Blockchain Keystore is supported by six of its devices – Galaxy S10e, S10, S10 +, S10 5G, Note10 and Note10 + – and in six jurisdictions: Canada, Germany, South Korea, Spain, Switzerland, the United States and Great Britain.
Keystore was first released in July this year as part of the Blockchain package and the Samsung Decentralized Application (DApp) Software Development Kit (SDK) that provides account management as well as backup, payment and digital signature. It is noteworthy that at first Keystore only supported Ethereum Blockchain.
Earlier this month, Samsung expanded the SDK with two new services – DApp with digital analytics called “Jupiter” and a peer-to-peer wallet based on the QR code called “Mars” and integrated them with Galaxy S10 and newer versions of Samsung smartphones.
In parallel to Samsung, the Taiwanese consumer electronics giant HTC also introduced a smartphone with Blockchain technology, called “Exodus”, which was introduced in autumn 2018.
Technical Market Overview:
The Bullish Flag pattern on the BTC/USD pair at the H4 timeframe has been invalidated as the price broken through the level of $10,000. The Bitcoin sell-off is accelerating and the next target for bears is seen at the level of $9,9231. Any violation of the level of $9,049 will invalidate the impulsive scenario. The nearest technical resistance is seen at the level of $10,166.
Weekly Pivot Points:
WR3 – $13,583
WR2 – $12,879
WR1 – $12,118
Weekly Pivot – $11,389
WS1 – $10,550
WS2 – $9,816
WS3 – $9,007
Trading Recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is still up. All the shorter timeframe moves are being treated as a correction inside of the uptrend. The larger degree WXY correction might have been completed and the market might be ready for another impulsive wave up of a higher degree.
The material has been provided by InstaForex Company – www.instaforex.com
