Bitcoin market overview: BTC/USD bull rally loading or bull trap?
The formation of a rising wedge pattern for BTC/USD trading pair suggests the largest crypto’s rally above $8,000 might not last long. At present, BTC is 9% higher from the weekend low slightly above $7,500. The same $7,500 support anchored Bitcoin declines on June 6.
Bitcoin revamped the short-term bullish picture with a formidable move past $8,100 On June 12. The successive trading sessions have been positive as well. Unfortunately, the trading volumes have remained almost not reactant and the rally is without substance. If anything Bitcoin volume on CoinMarketCap has declined 42% from the highs seen in May at $33 billion to the current $19 billion.
Ethereum purchases could soon launch on Amazon courtesy of two startups’ partnership
According to a press release on Friday, crypto payments firm, CLIC Technology is forming a partnership with a B2B platform Opporty that will see the development of a browser like an extension that will enable Amazon customers to pay for their online shopping using Ethereum. Such a platform would be a game changer as Amazon does not accept cryptocurrency as payment.
The two firms intend to achieve the goal using the Plasma Cask, a technology that was highlighted by Vital Buterin in March 2018. Opporty’s concept implementation is a payments solution that resembles Bitcoin’s Lightning Network “will bring a modern day cryptocurrency economy one step closer to becoming a reality.”
Litecoin market update: LTC/USD bulls rise from the ashes once again
LTC/USD revamps the uptrend following declines from the new 2019 high at $144.31. The price plunged below $130 level less than a day after zooming to the levels above $140. The $8.2 billion cryptocoin was among the biggest gainers on the crypto market yesterday.
In spite of the correction, Litecoin still trading above a key level (former resistance at $125). Support established at $125 today play a key role in the ongoing reversal above $130. The intraday charts show Litecoin among the crypto assets in the green. Generally, the market is in the red with major coins like Ripple trading below critical levels, for instance, $0.4.