CoinNess Daily Briefing
To Make Your Crypto Investing Easy
 
Saturday, July 6, 2019
Market Review

CoinNess.com Market Surveillance July 5: BTC Remains Above $11.3k
As of 11:00 (UTC) on July 6, the global index of the Bitcoin (BTC) still stands above $11,300, currently marking $11,349.88 with a 24h increase of 1.04%.
The CoinNess.com Bullish vs. Bearish Indicator shows our four-hour technical bias on BTC is "Buy" with four indicators sending out a selling signal, five showing a neutral signal, and nine indicating a buying signal. 
The broad market is trading sideways, with 49 out of Top 100 cryptos by market cap increasing. 
The global market cap reads $322.76 billion, and the 24-hour trading volume is $67.65 billion.
 
Major Coins
1.
BTC quotes show 11,324.36 USDT on Binance, $11,361.00 on Bitfinex and $11,362.10 on Coinbase Pro;
2. CoinNess.com Market Index presents quotes for major cryptocurrencies besides BTC as following:

ETH marks $290.60 (-0.58%);
XRP marks $0.382 (-0.15%);
LTC marks $118.49 (-1.25%);
BCH marks $401.13 (-0.59%);
EOS marks $5.76 (-1.40%);
ETC marks $7.81 (+0.26%)

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Todays Headlines

1.  The Internal Revenue Service (IRS) of the US is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers.
It is part of a broader push to boost the nascent cryptocurrency industry. Congress is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.                             

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2. An Iranian lawmaker called on the government to prepare and submit a bill on cryptocurrencies while reports indicate a surge in the country's power consumption due to bitcoin mining.
"Unfortunately, there is no specific law to monitor activities around cryptocurrencies in the country and it is essential that the government prepares a specific bill for determining the fate of cryptocurrencies' mining, such as bitcoin, and exchanging currencies using this digital money and submit the bill to the Parliament so that the power rate of those who are mining across the country would be determined," MP Ali Akbar Karimi, a member of Iranian Parliament's Economic Committee, told Mehr News Agency on Saturday, July 6.

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Hot In Asia

1. CITIC Securities, China's largest full-service investment bank, released a special report on July 6, stating that Libra is a type of currency with obvious use value.
According to the report, in comparison with Bitcoin, Libra has more potential to become a kind of currency. In terms of Chinese monetary policy, Libra's influence is mainly related to international capital flows. When Libra plays a safe-haven function to a certain extent, it will promote the flow of capital, which will inevitably lead to a deepening of capital flows. From the perspective of monetary policy operation, Libra's influence on capital flows will restrict the implementation of China's monetary policy to a certain extent. 

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2. Citing a local report, MU Changchun, Deputy Chief at the Payment and Settlement Division of the People's Bank of China, said that Facebook's Libra is a digital currency which can be transmitted freely across borders. "A stablecoin like this shall prosper and be regulated by central banks, as well as international regulatory joint task force, for the sake of monetary policies and macro oversight." 
                                                                                                           
Read More    3. Citing Regulation Asia, Taiwan plans to launch the world's first regulations on Security Token Offerings (STO). Fundraising through STOs will be capped at TWD300 million (approx. $9.618 million); individual investors will be allowed to purchase up to TWD300,000 (approx. $9618) worth of security tokens.     
                                                                                                            
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Q & A

Question: 
How to use moving averages, SMA, EMA to trade cryptocurrency?

 

Answer: 


A widely used technical indicator, the 50-, 100- and 200-period Simple Moving Average (SMA) or Exponential Moving Average (EMA) is often used in conjunction with other mathematical indicators (and always in combination with the price) and performs best in a trending market. The calculation of moving averages is often based on daily or hourly prices, depending on the timeframe of the period. Weekly periods are occasionally used.
The most common trading signals generated off of moving averages when trading cryptocurrency are those where the price crosses either above or below a moving average. Because the moving average is a trend indicator, providing support or resistance, when the price crosses above the moving average, it is seen as a break above the trend, and a buy signal is generated. Where the price crosses below the moving average, a sell signal is generated, as the trend is seen as broken to the downside.


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Disclaimer: CoinNess.com or anyone involved with CoinNess.com will not accept any liability for any trading loss or damage as a result of reliance on the information contained within this email including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.  CoinNess.com would like to remind you that the data contained in this email is neither necessarily real-time nor accurate. All crypto prices, Indexes, Futures, buy/sell Signals and Forex prices are indicative and not appropriate for trading purposes; furthermore they are not provided by an exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price. CoinNess.com doesn't bear any responsibility for any trading losses you might incur as a result of using this data. 

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