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  • Bitcoin
    Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

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    • Bitcoin
      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      featured image

      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

      featured image

      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

      featured image

      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      Trending Tags

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      Home Trade Signal

      Mid term Trade Idea: POA/BTC

      Hitesh Malviya by Hitesh Malviya
      April 16, 2019
      in Trade Signal
      0 0
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      POA TRADE IDEA

      POA TRADE IDEA

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      POA is underrated. Period. Let’s Explore why?

      Strong Fundamentals

      1. POA Network is an open-source, public sidechain of the Ethereum protocol, which uses a Proof-of-Authority algorithm as its consensus system.
      2. It’s a platform aimed to make running and execution of smart contracts easier, cheaper and faster.
      3. POA network has a great team which deliver technical updates and partnerships regulary.
      4. POA network has launched the first production cross chain bridge last year.
      5. POA network Launched POA20 Tokens and Public sidechain – XDAI Chain this year.
      6. POA network has recently launched ETC Bridge to continue expanding our interoperability mission, introducing $WETC to create more liquidity and more use cases for ETC.

      XDAI Chain Stats

      • Average Block Time: 5 Sec
      • Total Transactions: 173,259
      • Wallet Addresses: 7,484
      • Top Dapps – Geon APP, XDAI-DAI Bridge

      Technicals

      POA/BTC Daily (Binance)
      • On the daily chart, We could see Few High Volume upsides wick candles which indicate High Buy Volume accumulation.
      • Price is trading below 50,100 and 200 Daily MA
      • Price is trading inside a triangle, Key support of this triangle is at 0.0000068 BTC and Key Resistance is at 0.00001 BTC
      POA/BTC Weekly (Binance)
      • POA/BTC Weekly is currently trading below 21 Weekly MA.
      • Weekly Support is at 0.0000068 BTC, Weekly Resistance is at 0.00001 BTC
      • Break above 0.00001 BTC Could take the price to 0.000016-0.000024 BTC.

      Conclusion

      Fundamentals wise things are looking great for POA, Technicals wise things could be better if it stays above Weekly support. Try to accumulate close to weekly support for better entries. The timeframe for this trade would be around 4-8 weeks.

      Join our telegram and twitter for more updates.

      Must Read – XRP/BTC Analysis: When you should buy Ripple?

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

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