Japan 225 (JP225USD) In A Bearish Movement, Encounters A Massive Sell-off

Japan 225 (JP225USD) In A Bearish Movement, Encounters A Massive Sell-off

Key Resistance Zones: 23200, 23600, 24000
Key Support Zones: 20800, 20400, 20000

Japan 225 (JP225USD) Long-term Trend: Bearish
Japan 225 index was in an uptrend since August 2019. The index rose from the low of 20000 to 24000 in February. The bulls are currently facing resistance at 24000. The bulls made concerted efforts to break the overhead resistance. However, after three unsuccessful attempts, a bearish triple top is formed.

JP225USD – Daily Chart

A bearish triple top is a reversal pattern responsible for the downward movement of the index. The price slumped to a low of 20728. Nonetheless, Japan 225 has fallen to the oversold region. Price is likely to hold above 20000 support. Meanwhile, the support is a historical price level where the price consolidated before an upward move.

Daily Chart Indicators Reading:
The downward movement of the index has resulted in the JP225USD to be in an oversold region. The market has fallen below a 20% range of the daily stochastic. This also means that Japan 225 is in a strong bearish momentum. However, when buyers emerge the index will be in bullish momentum.

Japan 225 (JP225USD) Medium-term Trend: Bearish
On the 4- hour chart, the index has been in a sideways move since November 2019 before the price breakdown. Before the breakdown, JP225USD has been fluctuating between 22880 and 24000. On February 19, the bulls made an upward move but the resistance causes the index to slump to the current support.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently at level 21 of the Relative Strength Index period 14. The index is likely to fall as it is below the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally. The bottom line is that buyers will emerge in the oversold region to push the coin upward.

General Outlook for Japan 225 (JP225USD)
Japan 225 has plunged into the bottom of the chart. Presently, the index is in the oversold region of the market. Buyers are expected at the oversold region to push the price upward. Nonetheless, the index can remain in the oversold region if buyers fail to emerge.

Instrument: Japan 225 (JP225USD)
Order: Buy Limit
Entry price: 20400
Stop: 20000
Target: 23200

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Shanghai SE Composite Index (SHCOMP) Fluctuates in Preparation for a Breakout or Breakdown

Shanghai SE Composite Index (SHCOMP) Fluctuates in Preparation for a Breakout or Breakdown

Key Resistance Zones: 3100, 3200, 3300
Key Support Zones: 2700, 2600, 2500

Shanghai SE Composite Index (SHCOMP) Long-term Trend: Ranging
Shanghai SE Composite Index is in a sideways trend in February 2019. In January the index was in an uptrend. SHCOMP rose from the low of 2464 to the high of 3219 and became overbought. Sellers came in and pushed the price downward. The resultant fall led to a sideways trend in February. In February, the market is fluctuating between 2800 and 3100. Nonetheless, neither the bears nor the bulls have broken their respective key levels.

SHCOMP – Daily Chart

Daily Chart Indicators Reading:
In the meantime, SHCOMP is presently in a bearish momentum as the market falls to the lower price range. The 21-day SMA and 50 –day SMA are sloping horizontally indicating the sideways move.

Shanghai SE Composite Index (SHCOMP) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. The market is fluctuating between 2800 and 3100. The price in the lower time frame fluctuates in a tight range. The bulls attempted the upper price range before falling into the range.

SHCOMP – 4 Hour Chart

4-hour Chart Indicators Reading
The index is currently at level 34 of the Relative Strength Index period 14. The index is likely to fall as it is below the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally.

General Outlook for Shanghai SE Composite Index (SHCOMP)
Shanghai SE Composite Index seems to be stable in February. The index faces resistance at 3100 or it will fall when it is overbought. Traders should trade the key levels since the index is in a sideways trend. The market is dropping and as such a pending order will do.

Instrument: Shanghai SE Composite Index (SHCOMP)

Order: Buy Limit

Entry price: 2800

Stop:  2600

Target: 3100

 

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International Artist Akon to Launch Cryptocurrency “Akoin” on Stellar Blockchain Network

International Artist Akon to Launch Cryptocurrency “Akoin” on Stellar Blockchain Network

International recording artist Akon has decided to build his Akoin cryptocurrency ecosystem based on the Stellar blockchain.

Akoin co-founder and president John Karas said they decided to launch a project on Stellar because they share similar values.

The official launch of this cryptocurrency – called Akoin – marks the next step in the desire of an international artist-seller to help unlock the full potential of the African economy through the use of blockchain technology.

“Akoin chose the Stellar distributed hybrid blockchain because of its shared vision of creating global financial integration, especially in areas like Africa,” he explained in a February 28 statement.

Akon’s Humanitarian Effort and Philanthropy Adopts Blockchain Technology
Akon has long been an outstanding humanitarian and philanthropic activist, participating in numerous successful initiatives aimed at ensuring sustainability and equality in developing regions, thanks to its Africa Lighting initiative, which offers solar energy solutions in 18 African countries.

Part of Stellar’s mission is to help banks without banking services, and Akoin representative emphasized that Stellar is already working with businesses in Africa and can help with the planned Dapps and microloans.

Akoin service token will be compatible with Stellar wallets and is compatible with all digital assets and specified currencies supported by the Stellar network.

Users will be able to instantly switch from one currency to another, and Karas called a key factor the ability of the stellar network to promote “efficient transfer of value between assets.”

It helps to fulfill one of the project’s stated objectives which are to continue to improve the value of prepaid minutes. Minutes of digital currency in several African countries, such as Nigeria, are used because of inflation and banking problems. The Akoin platform allows users to trade fiat or other cryptocurrencies for minutes.

Akoin Cryptocurrency Not a Stablecoin
The speaker reported a fluctuating price of the Akoin token. “Akoin is not Stablecoin, but we will give access to our ecosystem’s other leading Stablecoin offers,” he said. The platform includes a multi-monetary wallet and a mobile market for users “learning, earning, spending and saving.

Now he believes that with the help of cryptocurrency and blockchain technology, he can help unleash the huge and largely untapped economic potential in Africa, allowing enterprises and entrepreneurs in the region to leave their mark on the world.

Regarding how the Stellar blockchain network can help Akoin achieve this goal, John Karas, co-founder, and president of Akoin explained that the Stellar hybrid blockchain combined with the overall vision of creating global financial integration made this choice obvious.

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EURJPY Downside Momentum Intensified on Friday While Breaking Beneath Past 199.99 Level

EURJPY Downside Momentum Intensified on Friday While Breaking Beneath Past 199.99 Level

EURJPY Price Analysis – February  28

In addition to the hysteria surrounding COVID-19, EURJPY is distressed from additional JPY-buying amid increasing global demand for a safe-haven. Against this context, the near-term horizon should not rule out a push to the region of 2020 lows close to the 118.46 level.

Key Levels
Resistance Levels: 122.87, 121.47, 199.99
Support Levels: 118.46, 117.08, 115.83

EURJPY Long term Trend: Bearish

The trend remains bearish in the long run as the cross stays well inside the falling channel formed from 122.87 (high) level.

The price has also just been rejected at 120.67 level by the upper near-term horizontal resistance zone while a break of 115.83 level may extend the downward trend from 122.87 (high) level to the next support level of 115.83.

EURJPY Short term Trend: Bearish

For the moment, the intraday bias in EURJPY remains neutral. On the downside, the support level of 118.46 could be reached below the 118.87 level. However, there may be a firm break with the 122.87 level downside momentum to continue the whole decline.

On the upside, above the 121.47 level may bring back bullish activity in the near term and instead target a retest at a high level of 122.87.

Instrument: EURJPY
Order: Sell
Entry price: 118.87
Stop: 119.66
Target: 118.46

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Bitcoin (BTC) Fluctuates Above $8,500 as the Selling Pressure Subsides

Bitcoin (BTC) Fluctuates Above $8,500 as the Selling Pressure Subsides

Key Resistance Zones: $10,000, $11,000, $12,000
Key Support Zones: $7, 000, $6, 000, $5,000

BTC/USD Long-term Trend: Bearish
Surprisingly, the downward move has reached an advanced stage as Bitcoin approaches the next support at $8,400. In its downward move, the price fell to $8,500 low and made a pulled to retest  $9,000 price level. After a successful retest, BTC resumed the downtrend as its approaches the support at $8,400. On the downside, if BTC falls to $8,400 low, then we should think of the next support at $8,200. Nonetheless, the downward move may soon reach a compromise as the indicators are showing various degrees of oversold positions.

BTC/USD – Daily Chart

Daily Chart Indicators Reading:
Undeniably, Bitcoin has fallen below 20% range of the stochastic. This implies that the selling pressure of Bitcoin is overdone. It also means that the market has reached the oversold region. In the oversold region, the bearish momentum is strong. In the region, buyers are generated to push Bitcoin upward. The price has broken below the 21-day SMA and 50-day SMA indicating that the downtrend has resumed.

BTC/USD Medium-term Trend: Bearish
On the 4- hour chart, the market has fallen to $8,505. From the resistance of $10,000, the market dropped to $8,750. The price pulled back to retest but continues the downward move. The $8,750 is a historical price level where the market consolidated before the downward move.

BTC/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Bitcoin is trading at level 22 of the Relative Strength Index period 14. The market is now in the oversold region of the RSI. Sellers will be unavailable to push BTC downward. Rather, buyers will be on hand to push Bitcoin upward.

General Outlook for Bitcoin (BTC)
Bitcoin has traded and fallen to the oversold region of the market. The stochastic and the Relative Strength Index have indicated that BTC is in the oversold region. Bitcoin is currently oversold at $8,551. Buyers are expected to emerge. Bitcoin will rise from a low of $8,551 if buyers emerge.

Instrument: BTC/USD
Order: Buy
Entry price: $8,642
Stop: $8,300
Target: $9,500

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S&P 500 Unexpected Crash Resumes Its Decline, Dropping to Fresh 2020 Lows

S&P 500 Unexpected Crash Resumes Its Decline, Dropping to Fresh 2020 Lows

S&P 500 Price Analysis – February 28

The S & P 500 has a deep pullback beneath Simple Moving Averages (SMAs) while selling pressure hit past 3100 levels downwards at new lows in 2020. The spread of Coronavirus makes investors fear global growth. Continuous stays beneath the stated level may increase further selling expanding down to 2800 level.

Key levels
Resistance levels: 3400, 3220, 3000
Support level: 2853, 2772, 2600

S&P 500 Long term Trend: Bearish

The S & P 500 received another blow in the previous session: the opening price gap plunged beneath the critical support at 3000.00 level, and now it has entered the second phase of selling at today’s session towards the next support level at 2853.00, currently, it is trading near the level of 2950.00.

Currently, the index is trading at 2947.00 level, after an attempt to close the price gap failed and fell before returning to the level of 3000.00. We can see attempts to stay past 2900.00 level, however, if this fails, the next two supports are estimated at 2853.00 and 2772.9 levels.

S&P 500 Short term Trend: Bearish

The S & P 500 is experiencing a deep downward correction and is currently challenging its moving average of 5, trying to rebound since the bears broke beneath 3000 levels, reaching new lows in 2020.

The spread of Coronavirus causes traders to panic. The lack of an upward momentum of the S & P 500 may lead to further selling with a further decline to the level of 2853.00.

Instrument: S&P 500
Order: Sell
Entry price: 3000
Stop: 3069
Target: 2853

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Bitcoin Price Analysis – Bitcoin Targets New Weekly Low After False Recovery

Bitcoin Price Analysis – Bitcoin Targets New Weekly Low After False Recovery

• Bitcoin recently saw a mild recovery but failed to surpass $9000
• The short-term bearish correction remains valid while Bitcoin consolidates

Over the past 24-hours, the entire crypto market saw a small recovery but now back on a bearish mode. Though Bitcoin has been quite stable at around $8800; following a sharp bounce from $8600. While attempting to reclaim $9000 yesterday, Bitcoin got rejected and now trading around $8700 at the moment as sellers show more interest.

Key resistance levels: $8800, $8900, $9000
Key support levels: $8600, $8500, $8400

Bitcoin (BTC) Price Analysis: Daily – Bearish

Yesterday, Bitcoin touched $8600 with a long wick after witnessing a two weeks decline. Bouncing off this mentioned weekly low, Bitcoin recovered a bit near $9000 before closing around $8800 with a bullish doji.

BTCUSD, Daily Chart – Feb 28

Bitcoin is facing $8600 support again. If this support fails to hold, price drop into a key support area of $8400 – marked green on the daily chart. If BTC respects this demand zone along with the blue rising trend line, a quick bounce should send the price back to $10000 resistance in no time. For now, the closest resistance for Bitcoin is $9000

Bitcoin (BTC) Price Analysis: 4H Chart – Bearish

On the 4-hours, Bitcoin has been in the middle of consolidation for the past few hours now. While the $9000 resistance is proving difficult for the bulls to overcome on the upside, the $8600 has continued to suppress bearish actions for a while now.

BTCUSD, 4H Chart – Feb 28

However, it may break if the current bearish sentiment intensifies. In view of this, $8500 and $8400 supports may be explored. In case the bulls show a strong interest, Bitcoin is likely to regain momentum to $8900 and $9000 resistance before showing further direction. Nonetheless, BTC behaviour is still bearish at the moment.

BITCOIN SELL ORDER

Sell: $8620
TP: $8500
SL: $8800

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Bitcoin Cash Resumes Uptrend as Buyers Push Price above the Breakout Level at $360

Bitcoin Cash Resumes Uptrend as Buyers Push Price above the Breakout Level at $360

Key Resistance Levels: $275, $300, $350
Key Support Levels: $200, $160, $120

BCH/USD Price Long-term Trend: Bearish
Since February 15, BCH has been on a downward move. The coin has fallen to a low of $301 which is below the breakout level of $360. At this current support, BCH has fallen to the oversold region of the market. As buyers are likely to emerge, the downward move may be temporarily be put on hold. On the upside, BCH may reach a high of $400 or $440, if the current support at $320 holds. It is unlikely for the downward move to continue for now as buyers are likely to emerge.

BCH/USD – Daily Chart

Daily Chart Indicators Reading:
Bitcoin Cash is below 20% range of the daily stochastic. This implies that BCH is in the oversold region of the market. There are no sellers on hand to push the coin downward as selling has been overdone. We are waiting for the presence of buyers to push the coin upward. It also means BCH is in strong bearish momentum.

BCH/USD Medium-term Trend: Bearish
On the 4-Hour chart, the coin is falling in a descending channel. It fell to the low of $320 which incidentally led the coin fall into the oversold region. On the upside, buyers are likely to emerge to push the coin upward.

BCH/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Bitcoin Cash has fallen to level 41 of the Relative Strength Index. The coin was previously in the oversold region where buyers emerge to push the coin upward. The RSI also rises to level 41 approaching the uptrend zone.

General Outlook for Bitcoin Cash (BCH)
Bitcoin Cash appears to have exhausted the bearish run for now. As buyers emerge from the oversold region, BCH upward move is guaranteed. Traders are to initiate long orders in anticipation of a bullish trend.

Bitcoin Cash Trade Signal
Instrument: BCH/USD
Order: Buy
Entry price: $323
Stop: $280
Target: 480

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Action Star Steven Seagal Fined by the U.S. for Illegal Promotion of ICO in 2018

Action Star Steven Seagal Fined by the U.S. for Illegal Promotion of ICO in 2018

For Illegally promoting an initial coin offering (ICO) carried out in February 2018 by BitCoiin2Gen(B2G).

Seagal was unable to report $250 million in cash, and an additional $750,000 worth of B2G tokens in exchanges for the promotion of the ICO, according to a declaration issued by SEC.

His promotion included the “miss out” of Bitcoinn2Gen’s ICO and “Zen Master Steven Seagal Has become Bitcoiin2Gen’s brand ambassador.” his promotion included his social media followers.

The SEC information that one press released quoted Seagal saying he “wholeheartedly” backed the initial coin offering. The promotions came after, in 2017, the SEC warned that crypto-assets sold via ICOs could be securities, and after it advised that celebrities or other individuals who promote secure crypto-assets should “disclose the nature, scope, and amount of compensation” they receive for it.

Kristina Littman, CEO of the SEC Enforcement Division’s Cyber Unit, was quoted as saying that these investors were entitled or agreed to approve the investment so that they can determine whether or not it would be unfair about the compensation Seagal receives.

The release adds that, in addition to admitting or denying the SEC’s findings, Seagal has agreed to pay $157,000 in disruption, representing its true promotional payments, plus preconception interest and a $157,000 penalty. Littman also said the media will not influence the securities without appropriately disclosing their compensation.

Seagal also decided that no securities would be promoted for three years.

At the end of the release, the SEC added that its Investor Education and Advocacy Office cautioned investors against celebrities’ endorsements and sought out every investment opportunity independently.

Other celebrities, including boxing legend Floyd Mayweather, DJ and music production producer DJ Khaled, were charged with “illegally promoting” ICOs for failure to make public payments receivable to support the investments in the coin offerings.

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AUDUSD Rebounds From Low, Holding on to Gains Close to the Level at 0.6600

AUDUSD Rebounds From Low, Holding on to Gains Close to the Level at 0.6600

AUDUSD Price Analysis – February 27

The AUDUSD pair capitalized on a large USD weakness, after reaching its lowest price level on Wednesday in over 10 years at 0.6540 level while holding on to recent gains on Thursday, the FX pair rebounded, going up by 0.55% daily and presently at 0.6585 level.

Key Levels
Resistance Levels: 0.7085, 0.6878, 0.6750
Support Levels: 0.6540, 0.6479, 0.6000

AUDUSD Long term Trend: Bearish

AUDUSD fluctuates around the lows of the decade, trading beneath the main daily simple moving averages of 5 and 13. In the long-term trend, the decline in AUDUSD from 0.7085 (high) level is still ongoing. This is part of a larger downtrend from 1.1079 (high) level.

The rejection of the upper horizontal resistance line at 0.6750 level confirms the long-term bearish sentiment. The next target is 0.6008 (low) level. The tendency may remain bearish, while the resistance level of 0.7031 stays unchanged, even in the case of a strong rebound.

AUDUSD Short term Trend: Bearish

AUDUSD intraday bias stays on the downside for now. The current downtrend may be aimed at 100% forecasting from 0.6938 to 0.6670 from 0.6750 at the levels of 0.6479 in the following.

On the other hand, above 0.6600 level, near-term resistance may change the neutrality of the intraday bias and again cause consolidation before starting a further decline.

Instrument: AUDUSD
Order: Buy
Entry price: 0.6540
Stop: 0.6479
Target: 0.6670

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.