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Bitcoin And KaratGoldCoin – A Technical Analysis

Published 2019-11-06, 11:28 a/m
Updated 2023-07-09, 06:32 a/m

Bitcoin (BitfinexUSD) DAILY CHART

Bitcoin previously bounced off the golden pocket fib retracement level very strongly, after a bullish divergence was formed in the RSI. Bitcoin rose all the way up to the lower end of the resistance between $10,500 and $11,000, where it was harshly rejected. For now, Bitcoin is fighting with the 0.382 fib levels and in case of rejection, Bitcoin finds support between the 50-day-EMA and the 0.5 fib level at $8500. In case of a bullish upturn, Bitcoin finds its next resistance at the previously rejected price level around $10,500.

A bounce off the golden pocket level is rather bullish and with the MACD’s histogram ticking higher, Bitcoin is most likely to re-test the resistance around the $11,000 mark.

KBC/USD DAILY CHART

KaratGoldCoin (KBC) recently reached a very strong support zone where it bounced off with an incredible rise of 140%. However, it was rejected by the 0.236 fib level and is currently ranging major support zone between $0.02 - $0.023 again. The RSI is beginning to build momentum as it already shows a minor bullish divergence. Consequently, KBC could soon go for a decent upward movement.

KBC investors can exchange 100 KBC tokens directly to 1g of pure gold, making it the first digital currency that is actually convertible to a truly valuable asset. This exchange opportunity will be made possible as part of a global Karatbars International’s promotion campaign, the Gold Independence Days, so that users can easily receive real gold in the form of CashGold. This is basically pure gold embedded into cash notes, which are exchangeable at Karatbars’ own ATMs, called CashGold Exchange Machines (CEMs). You can trade KBC on the Karabit Exchange which comes with assets like BTC, ETH, and USD, and enables high-frequency trading as well as the possibility to store your gold and trade it into cryptocurrencies. Apart from that, KBC can be traded on a myriad of other crypto exchanges, including DigiFinex and CoinBene.

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