BTC 3-hour forecast. Machine learning.
Dear colleagues and followers,
We would like to sincerely thank you for staying in touch and interacting with our posts. The Osiris team will keep working hard to constantly improve our predictive and trading algorithms to deliver the best results achievable.
After capturing a new annual low, Bitcoin was consolidating before reaching to lower areas and marking the $3200 zone as the new yearly low. This was followed by a new record of the open short positions on Bitfinex. As anticipated, not long afterward, a short squeeze had occurred sending Bitcoin for 10% gains, reaching a high of $3530. The short-term’s wedge pattern is still active. During the recent hours, Bitcoin is consolidating underneath the upper trend-line of the wedge. The RSI is forming a bearish triangle pattern. As of now, the RSI level is at 50, touching the descending trend-line from below. Breakout of the triangle is likely to produce a move towards the breakout’s direction. Critical support and resistance levels are $3500, $3600 and $3850 from the bull side and $3300, $3200, $3000, $2900 and $2700 from the bear side (Source: cryptopotato.com/bitcoin-price-analysis-dec-8-after-10-short-squeeze-the-situation-is-still-bearish/).
As reported recently, Bitwise Asset Management has broadened its fund family with the two new strategies which join the Bitwise 10 Private Index Fund. The Bitcoin and Ethereum funds are being promoted as a low cost alternative to current existing options which charge exit fees and other expenses. Hunter Horsley, chief executive officer of Bitwise Asset Management, believes the 68 percent drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at very low prices. The Bitcoin and Ethereum funds aim to capture the total returns available to bitcoin and ethereum investors, respectively, including hard forks and air drops. Bitwise holds the capital in cold storage with an institutional third-party custodian. The asset management firm offers an institutional offering, with an all-in expense ratio of 1.0% and a minimum investment of $1 million, and a retail offering, with an all-in expense ratio of 1.5% and a minimum investment of $25,000 (Source: newsbtc.com/2018/12/08/institutional-investors-still-interested-bitwise-releases-bitcoin-and-ethereum-funds/).
The Swiss wing of Russia’s Gazprombank will start offering crypto assets services by mid-2019, according to a press release published by its bank-tech partner Avaloq. The financial technology firm announced that it would build a fully integrated solution for the management of client portfolios across all asset classes, including cryptocurrencies. Gazprombank will integrate the said solution into its services to cater for clients that are looking to incorporate crypto assets like Bitcoin into their investment services. The whole deal will become another sign of how crypto adoption in Switzerland is moving in the right direction. Avaloq will not work alone on creating the crypto assets solution. The press release confirmed that the Swiss fintech giant would integrate Silo, a crypto-wallet management and storage product developed by Metaco, in within its Avaloq Banking Suite. Once up, the duo would enable Gazprombank to purchase, transfer and sell crypto assets on behalf of customers. They would also provide a blended view of the portfolio, without any necessity for a crypto-wallet or private keys (Source: ccn.com/gazprombank-forges-new-partnership-to-offer-crypto-assets-services/).
Chinese miners are reportedly becoming the biggest short sellers both locally and internationally, following an increased number of hedging operations in the current bear market. The severe cryptocurrency market decline in the last month has reportedly caused new generation miners to start hedging their coins to avoid market risks. At the same time, frequent hedging operations make miners the biggest short sellers of Bitcoin. Most common schemes involve buying already used graphic processing unit (GPU) miners to boost the machines’ performance. Once the “shutdown price” is reached, the miners power down the equipment, remove GPU chips and sell them to game players. As reported earlier in late November, cryptocurrency mining operators in China are reportedly selling mining equipment by weight, as opposed to price per unit, as the market slump had resulted in a large drop in mining profitability. Crypto miners were reportedly especially eager to sell the older models, including Antminer S7, Antminer T9, and Avalon A741, as these have reached their “shutdown price” (Source: cointelegraph.com/news/report-more-chinese-miners-selling-short-following-crypto-market-slump).
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.
Pair: BTC/USD
High: 3593.74
Low: 3536.48
Close: 3536.48
It has been three weeks since the notable Bitcoin Cash hard fork, which has resulted in two rival chains, Bitcoin ABC and Bitcoin SV. The recurrent “hash wars” are going back in forth, with the market still responding to the changes in networks’ relative hash rates. Bitcoin ABC is continuously struggling to maintaining slim advantage and is currently 6 blocks ahead. BAB price has somewhat recovered from previous lows and now has reached $102. As for now, the SV chain has minor advantage in terms of hash power (57%), however the ABC chain is still controlling 73% of the network’s nodes (Sources: cash.coin.dance, blockchair.com/bitcoin-cash/blocks). The mining profitability of Bitcoin SV is continuously volatile: as for now, it is 14% more profitable to mine on the original Bitcoin chain. Bitcoin ABC mining profitability is somewhat stable now being 11.60% higher than that of the Bitcoin chain (a 26% advantage compared to the rival SV chain). Bitcoin ABC miner concentration remains unchanged, slightly above historical levels. As for today, ViaBTC is the apparent leader, having mined 31.25% of recent blocks, followed by BTC.com with slightly below 28%. Bitcoin ABC is continuing to attract occasional mining from Waterhole, Prohashing, DPool, Copernicus, P2Pool, okminer and Multipool, the first five pools now consistently mining at least one block every day (Sources: cash.coin.dance/, blockchair.com/bitcoin-cash/blocks), contributing to the overall more healthy and diverse environment of the ABC chain, stemming from more attractive mining profitability and more technologically reasonable adjustable blocksize cap solution implemented by the Bitcoin ABC team. Regarding the SV chain, the mining activities continue to be dominated by SVPool, Coingeek and BMG Pool, with Mempool lagging behind today with only 6.25%. The Osiris team is therefore reasonably certain that there is substantial growing potential for BAB, guided primarily by fundamental analysis.
Thank you for staying in touch. We are looking forward to your feedback and any suggestions here at TradingView.
We would like to sincerely thank you for staying in touch and interacting with our posts. The Osiris team will keep working hard to constantly improve our predictive and trading algorithms to deliver the best results achievable.
After capturing a new annual low, Bitcoin was consolidating before reaching to lower areas and marking the $3200 zone as the new yearly low. This was followed by a new record of the open short positions on Bitfinex. As anticipated, not long afterward, a short squeeze had occurred sending Bitcoin for 10% gains, reaching a high of $3530. The short-term’s wedge pattern is still active. During the recent hours, Bitcoin is consolidating underneath the upper trend-line of the wedge. The RSI is forming a bearish triangle pattern. As of now, the RSI level is at 50, touching the descending trend-line from below. Breakout of the triangle is likely to produce a move towards the breakout’s direction. Critical support and resistance levels are $3500, $3600 and $3850 from the bull side and $3300, $3200, $3000, $2900 and $2700 from the bear side (Source: cryptopotato.com/bitcoin-price-analysis-dec-8-after-10-short-squeeze-the-situation-is-still-bearish/).
As reported recently, Bitwise Asset Management has broadened its fund family with the two new strategies which join the Bitwise 10 Private Index Fund. The Bitcoin and Ethereum funds are being promoted as a low cost alternative to current existing options which charge exit fees and other expenses. Hunter Horsley, chief executive officer of Bitwise Asset Management, believes the 68 percent drawdown in bitcoin prices this year has given investors a unique opportunity to enter the market at very low prices. The Bitcoin and Ethereum funds aim to capture the total returns available to bitcoin and ethereum investors, respectively, including hard forks and air drops. Bitwise holds the capital in cold storage with an institutional third-party custodian. The asset management firm offers an institutional offering, with an all-in expense ratio of 1.0% and a minimum investment of $1 million, and a retail offering, with an all-in expense ratio of 1.5% and a minimum investment of $25,000 (Source: newsbtc.com/2018/12/08/institutional-investors-still-interested-bitwise-releases-bitcoin-and-ethereum-funds/).
The Swiss wing of Russia’s Gazprombank will start offering crypto assets services by mid-2019, according to a press release published by its bank-tech partner Avaloq. The financial technology firm announced that it would build a fully integrated solution for the management of client portfolios across all asset classes, including cryptocurrencies. Gazprombank will integrate the said solution into its services to cater for clients that are looking to incorporate crypto assets like Bitcoin into their investment services. The whole deal will become another sign of how crypto adoption in Switzerland is moving in the right direction. Avaloq will not work alone on creating the crypto assets solution. The press release confirmed that the Swiss fintech giant would integrate Silo, a crypto-wallet management and storage product developed by Metaco, in within its Avaloq Banking Suite. Once up, the duo would enable Gazprombank to purchase, transfer and sell crypto assets on behalf of customers. They would also provide a blended view of the portfolio, without any necessity for a crypto-wallet or private keys (Source: ccn.com/gazprombank-forges-new-partnership-to-offer-crypto-assets-services/).
Chinese miners are reportedly becoming the biggest short sellers both locally and internationally, following an increased number of hedging operations in the current bear market. The severe cryptocurrency market decline in the last month has reportedly caused new generation miners to start hedging their coins to avoid market risks. At the same time, frequent hedging operations make miners the biggest short sellers of Bitcoin. Most common schemes involve buying already used graphic processing unit (GPU) miners to boost the machines’ performance. Once the “shutdown price” is reached, the miners power down the equipment, remove GPU chips and sell them to game players. As reported earlier in late November, cryptocurrency mining operators in China are reportedly selling mining equipment by weight, as opposed to price per unit, as the market slump had resulted in a large drop in mining profitability. Crypto miners were reportedly especially eager to sell the older models, including Antminer S7, Antminer T9, and Avalon A741, as these have reached their “shutdown price” (Source: cointelegraph.com/news/report-more-chinese-miners-selling-short-following-crypto-market-slump).
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.
Pair: BTC/USD
High: 3593.74
Low: 3536.48
Close: 3536.48
It has been three weeks since the notable Bitcoin Cash hard fork, which has resulted in two rival chains, Bitcoin ABC and Bitcoin SV. The recurrent “hash wars” are going back in forth, with the market still responding to the changes in networks’ relative hash rates. Bitcoin ABC is continuously struggling to maintaining slim advantage and is currently 6 blocks ahead. BAB price has somewhat recovered from previous lows and now has reached $102. As for now, the SV chain has minor advantage in terms of hash power (57%), however the ABC chain is still controlling 73% of the network’s nodes (Sources: cash.coin.dance, blockchair.com/bitcoin-cash/blocks). The mining profitability of Bitcoin SV is continuously volatile: as for now, it is 14% more profitable to mine on the original Bitcoin chain. Bitcoin ABC mining profitability is somewhat stable now being 11.60% higher than that of the Bitcoin chain (a 26% advantage compared to the rival SV chain). Bitcoin ABC miner concentration remains unchanged, slightly above historical levels. As for today, ViaBTC is the apparent leader, having mined 31.25% of recent blocks, followed by BTC.com with slightly below 28%. Bitcoin ABC is continuing to attract occasional mining from Waterhole, Prohashing, DPool, Copernicus, P2Pool, okminer and Multipool, the first five pools now consistently mining at least one block every day (Sources: cash.coin.dance/, blockchair.com/bitcoin-cash/blocks), contributing to the overall more healthy and diverse environment of the ABC chain, stemming from more attractive mining profitability and more technologically reasonable adjustable blocksize cap solution implemented by the Bitcoin ABC team. Regarding the SV chain, the mining activities continue to be dominated by SVPool, Coingeek and BMG Pool, with Mempool lagging behind today with only 6.25%. The Osiris team is therefore reasonably certain that there is substantial growing potential for BAB, guided primarily by fundamental analysis.
Thank you for staying in touch. We are looking forward to your feedback and any suggestions here at TradingView.
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