Comprehending Ask, Bid, Offer and Buy Prices in Bitcoin Trading

Knowing the Ask, Bid, Offer and Buy prices and how they pertain to Bitcoin can assist you in getting acquainted with pricing and market risks. Understanding how to navigate the market is a vital part of evolving into a profitable trader.

Ask Price
An Ask price is the least amount a possible trader is ready to receive for a cryptocurrency. Bitcoin exchanges have the least Ask price presently.

Naturally, Ask price declines as demand declines. Also, the Ask price is heavily reliant on the customary trading percentage. In some cases, a certain Ask price might equal the Ask price of the most recent exchange sale.

It is possible to sell Bitcoin more than the approved Ask price, but it cannot be sold below that price. Sellers do not have any obligation to set their prices on the same level as the market’s, however, if the discrepancy between these prices is way off, the Ask price might not receive a response.

Bid Price
A Buy price is a price a probable trader is keen on paying for a cryptocurrency. Just with Ask prices, Bitcoin exchanges provide the highest Bid price. An increase in demand usually leads to an increase in the Bid price, this implies that Bid price is connected to the customary trading percentage.

Conventionally, the Bid price is similar to the most recent exchange transaction. Bitcoin can be purchased laser than the Bid price but not more than it. Buyers are not obligated to set the same Bid price as the market, but this might not receive a response.

Offer Price
Offer is the amount that an exchange is inclined at selling a Bitcoin or any other altcoin. In exchange transactions, the Offer price is often the “highest Bid price”. Although, when it comes to over-the-counter or peer-to-peer transactions the Offer price is hugely different from the Bid. Increased response time between trades and normal changes in the market could lead to discrepancies between the Bid and Offer Rates.

In most cases, an Offer price doesn’t include the exchange charges or costs.

Buy Price
Buy price is the amount that a Bitcoin or another altcoins is sold for. In simpler terms, a Buy price is a Bid price which equals the Offer price, this simply implies that the Buy price is the amount where a transaction is executed.

Bitcoin May Repeat History After 21 Days Consolidation Move, Is $6400 Next?

Bitcoin (BTC) Price Analysis – October 14

Following last week unexpected rebound, Bitcoin touched $8800 after plummeting to $7733 support on September 24. But today, BTC dominance has dropped to 66.4% along with a current price reduction of -0.88%, making the market to trade below $8300 zone. This is due to the recent bearish interest in the market. We can expect a bullish impulsive move if Bitcoin can rise back above $8800

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $8533, $8815. $9000, $9200
Key support levels: $8000, $7733, $7000, $6500

Bitcoin’s continues to remain bearish on the daily chart but the last 20 days squeeze has made the market to stay in a consolidation mode. From the $7733 low, Bitcoin has managed to rise in a short-term to $8815, where the important 200-day moving average lies. Following September’s bearish formation, the crypto trading signals a potential breakout to $6500 but the bears need to clear the key support at $8000, $7733 and $7000.

BTCUSD-Daily-Chart-October-14

Meanwhile, the RSI is currently indecisive at the moment. A cross above the 50 level should signal a buy to $8533, $8815 and $9000 resistance. $9200 may as well play out for a further rise. Bitcoin is now sitting on the upper limit of the Stochastic RSI. Falling below the 80 could produce a bearish cross.

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

Bitcoin is moving in a range-bound on the 4-hour time frame, although carving a channel pattern alongside. Touching $8800 during last week’s trading made Bitcoin’s to the meet rejection at the upper boundary of channel. Now, it appears that the price is correcting back to the lower boundary of the channel, which has brought us to $8300 at the moment. A further drop could trigger a steep decline to around $8000 and $7700 support zones.

BTCUSD-4H-Chart-October-14

As we can see, the RSI is slowly turning bearish due to the last three days of bearish action. Now, the crypto trading signals an oversold market on the Stochastic RSI. If the indicator could produce a bullish crossover, Bitcoin may rise back to $8500 and $8800 resistance. Breaking up the channel could make the market to print new monthly high at around the $9000 – where the 200-day moving average lies.

BITCOIN SELL SIGNAL

Sell Entry: $8287
TP: $8021
SL: $8500

UNICEF Releases Cryptocurrency Fund to Enhance Blockchain Technology Adoption

The United Nations International Children’s Fund (UNICEF) has just released a cryptocurrency fund that will take in, handle and allocate payments in cryptocurrency denominations including Bitcoin as well as Ether, in a bid to finance the adoption of open source technology for kids across the globe.

This development was declared openly on the 9th of October where UNICEF said that this was a new project for them and that the crypto fund will only approve cryptocurrency payments and then give out grants in the exact cryptocurrency form.

The institution mentioned that its cryptocurrency fund has received its first payment from Ethereum Foundation and will be granting this donation to three recipients of the UNICEF Innovation Fund.

The Executive Director of the Ethereum Foundation Aya Miyaguchi announced at a DevCon exhibition that a total of 100 Ether, currently valued at $18,000 has been delivered to UNICEF for the new coalition. She also announced that the partnership with UNICEF was a means to enhance admittance to essential amenities, human rights, and aids.

The recipients expected to receive this donation include Atix Labs, Utopixar and Prescrypto. The mentioned recipients are focused on fields like trailing of prescriptions, connecting those in need of funding with appropriate investors, and population tokens and arrangements.

The Executive Director of UNICEF Henrietta Fore has expressed her delight in this project saying that it is a thrilling project for the organization. She went on to say that it was necessary for them to inquire into the openings provided by digital economies and currency, to mold the futures of succeeding coevals.

The cryptocurrency fund is a method being utilized by the UNICEF to push for the adoption of blockchain technology. Earlier in the year, UNICEF had meetings with the Kyrgyzstan authority to embrace blockchain usage to deliver adequate internet admittance to educational institutions in the nation through the “Project Connect Initiative”.

Also, in December of 2018, the institution declared that it would invest $100,000 in six different startups to tackle world challenges like transparency in healthcare delivery and management of finances and aids

U.S Security and Exchange Commission Disapproves Bitwise’s ETF Proposal

The United States Securities and Exchange Commission has turned down Bitwise’s proposal to launch a Bitcoin ETF. The SEC announced on the 9th of October that the ETF proposal from Bitwise did not meet essential regulations regarding probable market manipulations and unlawful activities.

The regulatory authority stated in a report that the company did not meet the set rule under the Exchange Act and the Commission’s Rules of Practice to prove that its proposal is in line with the regulations of Exchange Act section6(b)(5), and, specifically, that the proposal failed to meet the prerequisite that a national securities exchange be built in a manner that it deters defrauding and manipulative activities ad actions.

SEC Disproves Hougan’s Assurances
The disapproval from the SEC seems to be an aberration to the recent statements made by the Managing Director and Global Head of Research of Bitwise, Matt Hougan.

Hougan who was on CNBC on the 7th of October said that Bitwise was closer to getting a Bitcoin ETF approved now than ever before. Hogan had been confident about the possibility of the company getting its ETF product approved, using the growths that have been occurring in the cryptocurrency space over recent years as a pointer.

Other Let Downs By the SEC
Bitwise is not the only company seeking approval to launch an ETF product from the SEC. In January Bitwise alongside VanEck, SolidX and CBoE BZX all filled their proposals to the commission.

The disapproval by the SEC was preceded by a series of delays by the authorities. The most recent delay was in August when the commission postponed its verdict regarding the proposals from Bitwise along with VanEck, SolidX, and CBoE BZX, until the 13th of October. However, VanEck took down its product last month following poor reviews and adoption.

Bitwise has however assured the SEC that they are willing to reevaluate the issues raised by the regulatory body on market manipulation and fraudulent activities.

New Consolidation Phase May Lead Bitcoin (BTC) To April 2 Surge Level If Key Support Breaks

Bitcoin (BTC) Price Analysis – October 9

For the past 15 days now, Bitcoin has been undergoing a consolidation phase after bouncing off at $77000 area in late September. With -0.29% loss over the past hours, the BTC price now fluctuates at around the $8200 zones. As the market waits for the next shock-wave, Bitcoin’s price may roll to $6400 – the April 2 surge level if a bearish surge resurfaces.

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $8370, $8533, $8770. $8997
Key support levels: $7733, $7300, $7000, $6400

Following the September 30 sharp bounce at $7700, Bitcoin is currently fragile – subduing with choppy price action on the daily time frame. Again, the market is sensing a big move lurking around the corner. Breaking the key support zones at $7733 – $7300, BTC may plummet to $7000 and $6400 to meet the 4-months channel’s support.

BTCUSD-Daily-Chart-September-9

Currently, the price is still consolidating above the $8000 price zones. Should the bulls act upon these mentioned zones, Bitcoin may further correct to $8370, $8533, $8770 and $8997 resistance before we can continuing bearish rally. To top that, the crypto trading signals a strong bearish trend on the RSI but the market has managed to rise up on the Stochastic RSI since the beginning of the month.

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

Bitcoin has been shaping in a triangle pattern on the 4-hour chart and has remained indecisive for the past two weeks. The crypto trading signals that a potential surge in volatility may play out sooner or later. This pattern is a bearish formation with close supports at $7750 – a breakout area. A clear drive beneath the triangle might send the price to $7500, $7300 and $7000 support.

BTCUSD-Daily-Chart-September-9

But as it appeared now, Bitcoin is bullish on the RSI indicator, making its price to trade at around the triangle’s upper boundary. The price could float above $8000 if the RSI 50 can hold. Nevertheless, the $8400, $8533 and $8700 resistance could play out if a bullish surge occurs. Inversely, the crypto trading signals a bearish move on the Stochastic RSI to show that the sellers may step back in the market.

BITCOIN SELL SIGNAL

Sell Entry: $8197
TP: $7750
SL: $8350

BTC Bounces Off At $7750, Retracement Move May Lead To A Serious Sell-Off

Bitcoin (BTC) Price Analysis – October 1

Bitcoin is still bearish. What we are experiencing now is just a proper retracement to $9000 zone that was lost on September 24. Once Bitcoin reaches the mentioned zone, we can expect a massive dump to the $7000 price zone. The correction is normal for BTC to gather momentum for the next bearish move. As of now, the market is up by +3.59% with a more short-term bullish outlook.

Bitcoin (BTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $8600, $8800, $9000
Key support levels: $8200, $8000, $7750

The price of Bitcoin has struggled to hit $8500 earlier today after bouncing off at the $7750, which now holds as support. Currently, the market has slightly dropped to the current trading price at $8347. A bullish continuation could allow the market to further test the $8600, $8800 and $9000 resistance before resuming the bear rally.

BTCUSD-Daily-Chart-October-1

As we can see, Bitcoin is now trending in a new descending channel pattern following the wedge break-down on September 24. However, the crypto trading signals a potential buy on the technical indicators. If BTC rolls back, we might see a bearish extension towards the $8200. $8000 and $7750 support, the mid-year low.

Bitcoin (BTC) Price Analysis: Hourly Chart – Bullish

Bitcoin is now bouncing higher following the break above the descending trend line (white) along with the important $8000 resistance-turned-support. The buyers are now targeting $9000 resistance. Before then, Bitcoin needs to climb to $8512, $8700 and $8850 resistance. But now, the market is currently pulling back.

BTCUSD-Hourly-Chart-October-1

If the price further pulls lower, the BTC price may floor at $8250, $8142 and $8015 support to test the while line. The crypto trading signals a selling pressure on the Stochastic RSI. We can expect a buy-back as soon as the oscillator turns bullish. The RSI is now pointing downward to show a slight drop in price. If the RSI 50 can remain strong, a price will continue to rise.

BITCOIN BUY SIGNAL

Buy Entry: $8268
TP: $8888
SL: $8153

Forex Signals Brief for July 30: Pound on Watch as Leadership in Focus

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