{"id":368608,"date":"2019-01-18T18:00:48","date_gmt":"2019-01-18T18:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=368608"},"modified":"2024-06-11T18:04:15","modified_gmt":"2024-06-11T18:04:15","slug":"bitcoin-price-analysis-btc-volumes-shrink-22-from-jan-10","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-analysis-btc-volumes-shrink-22-from-jan-10\/","title":{"rendered":"Bitcoin Price Analysis: BTC Volumes Shrink 22% From Jan 10"},"content":{"rendered":"<ul>\n<li><em>Bitcoin Price in a $300 range mode<\/em><\/li>\n<li><em>ShapeShift bombarded with US DoJ subpoenas in Q4 2018<\/em><\/li>\n<li><em>Transaction volumes dip, moving averages slide from 18k to 14k in four days<\/em><\/li>\n<\/ul>\n<p><em>Participation levels are low, and with drying transactional volumes, BTC prices are ranging. However, with a flurry of subpoenas, exchanges are wary. All in all, we retain a bullish outlook expecting breakouts above $3,800 as Bitcoin rally to $5,000.<\/em><\/p>\n<h2>Bitcoin Price Analysis<\/h2>\n<h4>Fundamentals<\/h4>\n<p>The US is the world\u2019s largest economy, and as one of the major players in crypto, their regulatory stand can influence asset performance. We can draw examples from their sanctions on Russia and Iran. Their economies suffered as a result of that ban. As a global phenomenon, crypto is designed to be censorship resistant, distributed and without a point of failure.<\/p>\n<p>Unlike China, USA might be accommodative but complying with their rules is involving and expensive. It is for this reason that most exchanges prefer to set up operations in Europe and satellites countries like Mauritius or Gibraltar as their laws are lax on crypto.<\/p>\n<p>Following the steps of <a href=\"https:\/\/twitter.com\/krakenfx\/status\/64558080\" target=\"_blank\" rel=\"noopener nofollow\">Kraken<\/a>, ShapeShift has released their recent <a href=\"https:\/\/info.shapeshift.io\/blog\/2019\/01\/18\/pulling-back-the-curtain-how-shapeshift-handles-law-enforcement-compliance\/\" rel=\"nofollow\">compliance report<\/a>. There, we can see that subpoenas more than doubled in Q4with the US DoJ being the most demanding. In total, they made 18 requisitions throughout 2018.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83c\udfaa\u2728 Pulling Back The Curtain: How ShapeShift Handles Law Enforcement Compliance: <a href=\"https:\/\/t.co\/NefZV7xIY8\" rel=\"nofollow\">https:\/\/t.co\/NefZV7xIY8<\/a> <\/p>\n<p>\ud83d\udcdd Thanks to <a href=\"https:\/\/twitter.com\/krakenfx?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@krakenfx<\/a> for inspiring us to bring more transparency to the <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#cryptocurrency<\/a> space. We encourage others to join in on this initiative. <a href=\"https:\/\/t.co\/RWIailvbF3\" rel=\"nofollow\">pic.twitter.com\/RWIailvbF3<\/a><\/p>\n<p>&mdash; ShapeShift \ud83e\udd8a (@ShapeShift) <a href=\"https:\/\/twitter.com\/ShapeShift\/status\/19006209?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 18, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h4>Candlestick Arrangements<\/h4>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-368610\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?resize=1280%2C1024\" alt=\"Bitcoin\" width=\"1280\" height=\"1024\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?w=1280 1280w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Bitcoin-Daily-Chart-Jan-18.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>From the charts, BTC prices are scant and confined within a tight trade range. Even so, we retain a <a href=\"https:\/\/wncen.com\/2019\/01\/17\/bitcoin-price-analysis-btc-cap-up-700-million-from-3700-support\/\" target=\"_blank\" rel=\"noopener \">bullish outlook on Bitcoin<\/a> as long as our trade conditions are valid. Note that\u2014and as per our previous emphasis\u2014buyers have a chance once prices edge past Jan 14 highs of $3,800.<\/p>\n<p>The $3,800 not only doubles up as a minor resistance level but as an essential Fibonacci retracement level based on Dec 2018 high low, a breakout above it preferably with above average trade volumes could lay the foundation for higher highs towards $4,500 triggering conservative long positions.<\/p>\n<p>At the moment, none of our trade conditions are valid. Therefore, we shall retain a neutral outlook aware that losses below $3,700 main support could see prices tumble to $3,200 or lower.<\/p>\n<h4>Technical Indicators<\/h4>\n<p>Strong price movements can only be at the back of stellar participation. It\u2019s clear that this is lacking and with averages of 14k\u2014down from 18k when prices sank below $4,000 on June 10, any breakout above $3,800 or below $3,700 or Dec 28 should be at the back of above average volumes exceeding 35k or 20k on the lower limit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin Price in a $300 range mode ShapeShift bombarded with US DoJ subpoenas in Q4 2018 Transaction volumes dip, moving averages slide from 18k to 14k in four days Participation levels are low, and with drying transactional volumes, BTC prices are ranging. However, with a flurry of subpoenas, exchanges are wary. All in all, we retain a bullish outlook expecting breakouts above $3,800 as Bitcoin rally to $5,000. Bitcoin Price Analysis Fundamentals The US is the world\u2019s largest economy, and as one of the major players in crypto, their regulatory stand can influence asset performance. We can draw examples from their sanctions on Russia and Iran. Their economies suffered as a result of that ban. As a global phenomenon, crypto is designed to be censorship resistant, distributed and without a point of failure. Unlike China, USA might be accommodative but complying with their rules is involving and expensive. It is for this reason that most exchanges prefer to set up operations in Europe and satellites countries like Mauritius or Gibraltar as their laws are lax on crypto. Following the steps of Kraken, ShapeShift has released their recent compliance report. There, we can see that subpoenas more than doubled in Q4with the US DoJ being the most demanding. In total, they made 18 requisitions throughout 2018. \ud83c\udfaa\u2728 Pulling Back The Curtain: How ShapeShift Handles Law Enforcement Compliance: https:\/\/t.co\/NefZV7xIY8 \ud83d\udcdd Thanks to @krakenfx for inspiring us to bring more transparency to the #cryptocurrency space. We encourage others to join in on this initiative. pic.twitter.com\/RWIailvbF3 &mdash; ShapeShift \ud83e\udd8a (@ShapeShift) January 18, 2019 Candlestick Arrangements From the charts, BTC prices are scant and confined within a tight trade range. Even so, we retain a bullish outlook on Bitcoin as long as our trade conditions are valid. Note that\u2014and as per our previous emphasis\u2014buyers have a chance once prices edge past Jan 14 highs of $3,800. The $3,800 not only doubles up as a minor resistance level but as an essential Fibonacci retracement level based on Dec 2018 high low, a breakout above it preferably with above average trade volumes could lay the foundation for higher highs towards $4,500 triggering conservative long positions. At the moment, none of our trade conditions are valid. Therefore, we shall retain a neutral outlook aware that losses below $3,700 main support could see prices tumble to $3,200 or lower. Technical Indicators Strong price movements can only be at the back of stellar participation. It\u2019s clear that this is lacking and with averages of 14k\u2014down from 18k when prices sank below $4,000 on June 10, any breakout above $3,800 or below $3,700 or Dec 28 should be at the back of above average volumes exceeding 35k or 20k on the lower limit.<\/p>\n","protected":false},"author":384,"featured_media":344600,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,3841],"class_list":["post-368608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-shapeshift"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Analysis: BTC Volumes Shrink 22% From Jan 10<\/title>\n<meta name=\"description\" content=\"Bitcoin Price in a $300 range mode ShapeShift bombarded with US DoJ subpoenas in Q4 2018 Transaction volumes dip, moving averages 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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