Bitcoin in Crucial Trading Zone
Bitcoin is locked in a pivotal make-or-break trading range after showing some early signs of bull reversal. Technical analyst Omkar Godbole at CoinDesk says although sellers are exhausted, more buying pressure is required to trigger an end to the long bear market.
“Bitcoin is trapped in a key trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively.
The cryptocurrency needs a break above the upper edge needed to confirm a longer-term bull reversal. Conversely, a move below the lower bound of the range could revive the bear market.”
Coinbase Targets Institutional Investors
Coinbase just launched a highly requested feature for institutional investors, giving them the ability to trade crypto assets directly out of cold storage.
The move lets investors with large amounts of capital easily access and trade their funds in seconds, instead of having to wait for their assets to be unlocked. The move is part of an official merge of Coinbase’s crypto custody platform and its over-the-counter trading desk.
“Coinbase Custody is now directly integrated with Coinbase’s OTC desk. Custody clients can leverage the OTC desk to price and confirm trades before moving funds.
Additionally, we’ve honed this process to make it as simple and smooth as possible — our OTC and Custody client service teams work together to provide a single point of contact throughout the entire process. For clients initiating positions, the process is even simpler: they can buy OTC and settle assets directly into Custody.”
Tron Trolls Ethereum
The team at Tron has apparently sent a real-life avocado to Token2049 in Hong Kong in an effort to troll Ethereum creator Vitalik Buterin.