CSBTC 4h

17 Jul 2020

As Traders say Thank God it`s Friday though this week was quiet again with low volatility and volumes. The main markets remain stable. The US stock, currencies, commodities including crude oil and gold are flat. The crypto market was in tandem with others. Thus, BTC is trading at 9100 and ETH at 233 this morning. CS/BTC pair is trading close to 0.00000340 level just above strong support level at 0.00000326/0.00000330. Recently very positive news from the CS Team such as it obtained patent package that can improve conditions of decision making within the decentralized network was published. newsbtc.com/2020/07/17/credits-blockchain-from-patent-to-growth-expansion/ In other words these patents are very material and could give the users something that the rivals do not have. The patents always give the competitive advantage. This news is not in the current CS/BTC price and sooner or later it will be recognized by the market. According to comparative analysis CS/BTC pair is extremely undervalued at current levels and has a huge potential for growth. Based on TA it looks like a good buying opportunity with the next target close to 0.00000415/0.00000420 resistance level. The stop-loss could be placed at 0.00000319. After the resistance level at 0.00000420 is broken the medium term target is still the end April high near 0.00000600/0.00000650 level.