Ethereum (ETH) – Course Analysis KW20 – Does the Handle Hold?

As with all other crypto currencies, the Ethereum rate fell last week. On May 12th it fell to 535 Euros, returning to the end of April level. Since then, the course has recovered somewhat and entered a triangle pattern. The Cup-and-Handle Pattern still holds accordingly.

The Ethereum price fell this week for the crypto trader

After the crypto trader price fell back to the level of the end of April and thus to the bottom of the forecasted handle, the price entered a triangle pattern like this https://www.onlinebetrug.net/en/crypto-trader-review/.

Overall, the assessment is bearish. The most important support is 533.95 euros, the first resistance is 616.22 euros.

Last week it was advised not to open a long position until the price either bounced at a support or breached the resistance. So if you haven’t taken a long position, you’ll be quite lucky; there was really no money to be made from the neutral outlook at the time.

In the meantime the course has even bounced off a support. Since then it has been moving sideways in a triangle pattern. With last week’s negative price development, the hypothesis of a cup-and-handle pattern can in principle be maintained:

So a little of the above mentioned support is decisive. The indicators on the 4-hour chart are a cause for concern:

The MACD (second panel from above) is negative and bearish. The MACD line (blue) is below the signal (orange), the latter is about to fall below the zero line.

The RSI is at 44 and thus bearish. Overall, the price, trend and indicators are bearish according to the situation.

Support and Resistance

The first support is 533,95 Euro and is described by the minimum of May 12th. The further support is defined by the plateau from 21 to 22 April at 493.03 euros.

As first Resistance the plateau offers itself from 14. May to 15. May with 616.22 euro. A rise of the price above this level would lift the price in the direction of higher prices from the triangle pattern. A further resistance is at the height of the monthly maximum at about 680.00 Euros.

Entry Points, Stop Losses and Targets
The bearish assessment invites to a short position. A good entry point would be 572.87 Euro, i.e. in case of a negative breakthrough of the triangle pattern, targets would be at the indicated supports and for a stop loss the first resistance would be 616.22 Euro.

If the price bounces off the support of the triangle pattern, opening a long position at 616.22 Euros would be the best option. A meaningful target would be the second resistance at 680.00 Euro and a meaningful stop loss would be defined by the EMA50 at about 600 Euro.

Coinbase and Deloitte analyze blockchain and crypto currencies

A recent survey by the Coinbase crypto exchange examines the significance of blockchain and crypto currencies at US universities, among other things. Meanwhile, the auditing firm Deloitte is investigating the role of technology for companies. A regular comparison.

The crypto community regularly benefits from current studies and surveys on blockchain adaptation and crypto usage. The clients come from all kinds of industries, such as politics, the private sector or the cryptoscene itself. Two current studies of the crypto stock exchange Coinbase and the auditing company Deloitte ask educational institutions and enterprises about Blockchain topics.

Coinbase: Blockchain is part of the Bitcoin news trader in elite universities

Together with Qriously, Coinbase is investigating the role of blockchain and crypto scam proven by onlinebetrug in universities around the world. The study included 675 students from 50 of the world’s most renowned universities. At 21 of these 50 universities, students are offered at least one course on blockchain and crypto currencies. This corresponds to a Bitcoin news trader crypto quota of 42 percent. These courses are spread over various institutes and chairs, which suggests that different aspects of crypto economics are taken into account in teaching.

Stanford University occupies the top position among the crypto-affine universities, offering a total of ten courses on various aspects of cryptology. This is immediately followed by New York’s Cornell University with a total of nine crypto courses. All the other educational institutions surveyed lag far behind.

The survey also highlights the use of crypto by US students. Nine percent of respondents in the USA stated that they had taken part in a crypto course. In addition, 18 percent of the students have crypto currencies, a total of 26 percent expressed the wish to learn more about crypto currencies and to participate in such a course. This high number of interested people should also please decision-makers in the private sector.

Deloitte: 84 percent of companies believe in mainstream adaptation

The Deloitte survey is much broader than that of Coinbase. A total of 1,053 companies from Germany, France, Great Britain, China, Canada, Mexico and the USA were surveyed. 132 companies from Germany took part. In addition, the focus here was less on the dissemination of crypto knowledge, but rather on the active use of the blockchain by companies. The aim of the study was to find out when and how the blockchain will assert itself as an instrument in the free economy.

A total of 84 percent of the leading minds in the companies surveyed believe that blockchain applications will establish themselves in the mainstream. Until this happens, it is only a question of time. Use cases are mainly seen in the areas of supply chain management (53 percent), IoT (51 percent) and digital identity (50 percent).

The obstacles to blockchain adaptation were mentioned by most (39 percent) of the respondents as regulation, the replacement of existing structures (37 percent) and security concerns (35 percent). Most people see the biggest advantage of the blockchain in the higher speed that the technology allows (32 percent), followed by higher security (21 percent) and lower costs. 34 percent of the surveyed companies place the blockchain in the top 5 priorities of their future strategy, another 29 percent see it as a high priority, but it is not included in the top 5.

Chinese central bank: no signs of easing

The Chinese central bank has announced its agenda for the coming year. It continues to focus on the regulation of crypto currencies. Their markets must be corrected, according to the letter of Thursday. With it the authority disappoints hopes of a course change. In the middle of the month, these were blazed up with the appointment of the new central bank chief Yi Gang in the course of the personnel carousel in Beijing’s executive apparatus.

Nothing new (for the time being) in the East

On Thursday the People’s Bank of China, the central bank of the Middle Kingdom, announced the agenda for the current year 2018. In it, the authority mentions crypto currencies in the same breath with immediate dangers for the financial stability of the yuan. It is therefore important to continue to counter their markets with appropriate measures.

“One of our goals continues to be strict quality control of the yuan […] through corrective measures for various crypto currencies,

central bank vice-president Fan Yifei announces the new, old direction of the PBoC. While the concrete remains in the dark, the innovative possibilities of a centrally regulated digital currency will continue to be considered, according to Fan.

No change of course for the time being

The PBoC thus disappoints hopes of an imminent price change. In the middle of the month, the PBoC’s hopes of an imminent price change became loud with the appointment of Yi Gang as the new head of the central bank. After long-time PBoC Governor Zhou Xiaochuan warned of Bitcoin’s speculative risks only in March, Yi appeared to be a possible glimmer of hope for the global market. He had reportedly called the Bitcoin “unique” and “inspiring” in recent years. There had already been speculation that the strong Chinese headwind might ease.

Last year the government had set a strict course and put on hard bandages against the domestic crypto markets: Last September, Beijing surprisingly called on crypto exchanges to shut down their operations. In addition, ICOs were banned from Chinese territory.

This year, too, there has been no relaxation so far. Only last month, for example, the Chinese Ministry of Public Security announced that it would extend its monitoring to international crypto exchanges in order to be able to monitor the transactions of Chinese citizens.

Governments worldwide: crime the real problem
From an international point of view, China is one of the first countries that are decisive for the international financial sector to regard crypto currencies as a threat to financial stability. In this part of the world, the European Central Bank (ECB), for example, is insisting on a wait-and-see approach. The tenor from Frankfurt: crypto currencies are still far from endangering the euro. American colleagues are currently of a similar opinion.

While more and more governments and central banks around the world are turning to possible control mechanisms, these days a different reputation is echoing through the high government houses. Instead of worries about financial stability, legislators around the world are currently looking at the criminal potential for using crypto currencies. For example, coordinated efforts were already on the agenda at the first G20 meeting of finance ministers and central bankers this month. The result: by 2020, common tax standards should steer the trade in crypto currencies in an orderly fashion. The focus here too: Money laundering and tax evasion instead of financial danger.

The actual market capitalisation of all crypto currencies is currently 214 billion euros. Compared to global financial traffic, however, this is still small and disappears. An actual impairment of the financial market therefore seems doubtful, at least from the perspective of the figures.