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Elan Credit Card – Mystery Solved

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While completing the research for this article, admittedly I was becoming a bit frustrated. What is it with these companies that have credit cards offers that no one could seem to access online? Seriously, what is the point?

If I am interested in your organizations’ credit card, I would expect to go online and search for your card and…voila, an entire website with all the information I need appears. It’s not magic; it’s the way things should be, any good marketer knows that.

Well to my surprise, this is not what I experienced while searching for the Elan credit card. Instead I was greeted with a card member services page for all my search effort. Now tell me, how can I become a member when I can’t even find information on the credit card offer to decide if to follow through with an application.

On further investigation, I realized that the Elan membership page was powered by Elan Financial Services so I thought If I visited their site, I might gain access to the details of the Elan credit card offer.

Once I landed at http://www.elanfinancialservices.com it became clear why there were no specific credit offers splashed across the Internet and on this occasion I would let go of my frustration because I now understand what Elan is all about.

You see Elan is actually a transaction management company that offers credit cards and other financial services to its partners.

They do not offer credit cards to the general public, but rather they handle the background work such as card authorization processing, system monitoring and point of service transactions to name a few.

You would need to be a business entity in order to benefit from the services of the Elan credit card. This is because your business would partner with Elan to provide credit card services to your customers and management of the day to day transactions would be handled and supported by Elan Financial Services

As an example the following credit cards provided by these two companies are powered by Elan, but the cards are issued in the banks name.

o Central Pacific Bank Credit Card

o Bloomfield State Bank

Even though the Elan option did not work out, there are many other credit card offers available on the market. You can search through many different categories to find the card that is right for your circumstances. Categories include:

o Airline Credit Cards

o Balance Transfer Credit Cards

o Business Credit Cards

o Bad Credit Credit Cards

o Rewards Credit Cards

o Student Credit Cards

These are just a few of the categories available, so don’t delay, start your credit card search today.

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TA: Bitcoin Stuck In Range, What Could Spark Key Reversal

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Bitcoin

Bitcoin price failed to clear the $45,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more downsides below $42,000.

  • Bitcoin failed to continue higher above the $44,500 and $45,000 resistance levels.
  • The price is now trading below $43,000 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue to move down if it stays below the $43,000 pivot level.

Bitcoin Price Fails Again

Bitcoin price started a steady increase above the $43,000 resistance. BTC even climbed above the $44,000 level and the 100 hourly simple moving average, but it failed to extend gains.

There was no upside continuation above $44,500 and $45,000. As a result, the price started a downside correction below the $44,000 and $43,500 levels. The price declined below the 50% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high.

It is now trading below $43,000 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC/USD pair.

Bitcoin price is now consolidating near the $42,200 level. The bulls are protecting the 61.8% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high. On the upside, an immediate resistance is near the $42,800 level.

Source: BTCUSD on TradingView.com

The first major resistance is near the $43,000 level and the 100 hourly simple moving average. A close above the $43,000 level could start a fresh increase. Having said that, a clear break above $45,000 is must to spark a key reversal in the near term.

More Downsides In BTC?

If bitcoin fails to clear the $43,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $42,200 level.

The first major support is near the $42,000 zone. A close below the $42,000 support level might lead the price towards the $40,800 zone. Any more losses could increase selling pressure for a move below $40,000.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $42,200, followed by $42,000.

Major Resistance Levels – $42,800, $43,000 and $44,500.

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$2M+ In Bids Already Placed For The First Dolce & Gabbana NFT Collection

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Dolce&Gabbana perfume bottle

The auction for the digital items of Dolce & Gabbana ’s Collezione Genesi ends tomorrow. From a total of nine pieces, five have a physical and a digital version, which reportedly are wearables that can be used in the metaverse. This is the first high-fashion meets NFTs moment, but it certainly won’t be the last. Besides the competitors that are surely going to pop out soon, Dolce & Gabbana themselves are planning a whole lot more in the space.

Related Reading | NFT Project To Donate 100% Of Income To Help Afghan Women Access Education

But, let’s not get ahead of ourselves. The official auction site describes the collection as:

“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection that involves both digital and physical works, truly bridging the physical and the metaphysical.”

The legendary fashion brand, Dolce & Gabbana, is working alongside UNXD, who describe themselves as “a curated marketplace for the best of digital culture.” They inform us that “All pieces were personally designed by Domenico Dolce and Stefano Gabbana exclusively for UNXD.” Here’s a phenomenal video showing the nine available items, but, make sure to notice that since it was published the bids have doubled up. And the number will probably increase tomorrow.

Also, notice that the tweet comes from Polygon’s co-founder Mihailo Bjelic. The Dolce & Gabbana ’s NFTs live on the Polygon network.

MATIC price chart on Bittrex | Source: MATIC/USD on TradingView.com

Dolce & Gabbana Hits First And Hits Hard

Even to the casual observer, it’s obvious that Dolce & Gabbana ’s Collezione Genesi is a well-thought-out project. Their advisors knew what they were doing.  As we said, the NFTs come with a digital wearable piece. They also include a handmade sketch of the piece, and, more importantly access to a community.

As NewsBTC established when analyzing Gary Vee’s Christie’s auction, community and access might be as important as the art when it comes to NFTs. The Dolce & Gabbana team obviously understands that, so they’re offering two crucial items with their genesis collection. 1.- A 3-day pass to Dolce & Gabbana ‘s “Alta Moda couture,“ the brand’s own biggest event for next year. The pass includes access to all the shows and parties. Plus, a private atelier tour. 2.- Membership to the DGFamily NFT community.

For a better explanation of that last item, let’s quote UNXD:

“Dolce & Gabbana will next roll out the #DGFamily NFT community. 4 exclusive levels, including an ultra-exclusive gold level whose inaugural members will be the winners of this Genesis auction. A similar approach to digital + physical + experiential access.”

So, this auction is the first step in a journey of a thousand miles, so to speak. Dolce & Gabbana is all in on the NFT space.

High Fashion And NFTs Belong Together

When our sister site Bitcoinist announced Dolce & Gabbana ‘s NFT collection, they made a great point:

“What’s more, high fashion and acquiring expensive items is not about necessity. Rather, it caters to being part of the luxury culture and communicating status. In many ways, NFTs also fit this bill, in that, they too have become indicative of status.”

However, for the fusion to succeed, there needs to be a landmark case. A moment that makes everyone involved see the light. Is this Dolce & Gabbana collection it? Well, it mixes the crypto universe with the real world and it’s backed by a legendary brand, but, is that enough? 

According to UNXD, the collection took the creators “an insane 16,000 hours of collective time.” It consists of “9 one-of-a-kind pieces that will never be made again.” So, you know?, it’s rare. Also, “Many of the pieces used creation techniques that are only known by a handful of people alive today. This is museum-grade work.” To top it all off, they promise, “These pieces look and “feel” real and will change how people think of digital assets.” 

Related Reading | How Polygon Will Seek To Strengthen DeFi With $2 Million Bug Bounty

That sounds incredible, but, it also opens a question. In what metaverse will they be wearable, exactly? Which one of your digital avatars will you be able to crown with “The Impossible Tiara” or “The Doge Crown”?

Featured Image by NeONBRAND on Unsplash - Charts by TradingView

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Refinable Lists on AscendEX

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Refinable Lists on AscendEX

AscendEX, a global digital asset trading platform, is thrilled to announce the listing of the Refinable token (FINE) under the pair USDT/FINE on Sept. 28 at 1 p.m. UTC.

Refinable is an interactive, multi-chain capable NFT marketplace with a one-stop solution to create, discover, trade, and leverage NFTs for brands and creators. Refinable is the first NFT marketplace built on the Binance Smart Chain enabling users and established brands to interact with each other by leveraging NFTs.

Beyond standard marketplace features, Refinable’s strategy is quite different from other NFT marketplaces. They are actively talking to non-crypto companies to develop unique NFT engagements. Its community’s strength will differentiate the NFT marketplace on Refinable, and they believe the most engaged, long-lasting communities are those of existing and beloved brands. Refinable believes in the idea that each brand would bring with it a whole community of users. The main goal and long-term value proposition for Refinable is to onboard brands and their dedicated communities.

As gas prices continue to rise on the Ethereum chain, it is becoming prohibitively expensive for creators and traders alike. These high costs stymy artists’ creativity and willingness to engage with the technology. Beyond the general inaccessibility, brands also lack an easy onramp to work with NFTs. 

Refinable is building on BSC to solve these issues, providing users and brands with cheaper and more efficient scalability options. Additionally, BSC offers smart contracts that Refinable will leverage for engagements between its users and brand partners. Building on BSC represents an untapped opportunity to drive customer engagement and reach new demographics. Overall, the decision to run Refinable on BSC creates an accessible environment for brands and users to start engaging with NFTs and like-minded communities.

FINE is the platform’s native token. Token holders can access membership tiers with more platform benefits such as discounted service fees. Users can spend FINE tokens to access certain platform features without membership requirements, such as priority listing. Furthermore, token holders can obtain governance privileges to suggest proposals and even moderate content on the platform.

AscendEX’s listing of the FINE token highlights its commitment to supporting the growth of the NFT ecosystem. FINE joins a long list of high-quality NFT based projects listed on AscendEX. You can find a list of NFT related listings HERE.

About AscendEX 

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About Refinable

Refinable is an interactive, multi-chain capable NFT marketplace that provides a one-stop solution to create, discover, trade, and leverage NFTs for brands and creators. Refinable is the first NFT marketplace built on Binance Smart Chain that enables individual users and established brands to interact by leveraging NFTs.

For more information and updates, please visit:

Website: www.refinable.com  

Twitter: https://twitter.com/refinableapp 

Telegram: https://t.me/refinablenft 

Medium: https://refinable.medium.com/

Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Ripple (XRP) CEO Refuses Settling With SEC Strongly

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Ripple (XRP) CEO Refuses Settling With SEC Strongly
  • Battle between the U.S SEC and Ripple intensifies.
  • The CEO of Ripple refuses to surrender and fights against the SEC to prove XRP is legit.
  • The CEO compares XRP to Ethereum, oil and gold. 

By the passing of each day the dispute and war between the Ripple and the SEC gets intensified, day by day. Moreover this legal battle has been going on since December of 2020. Besides, last month the battle got even more serious as both started legal cases against each other. And so, now the case is with the New York jurisdiction court. 

Furthermore, just last week the court rejected Ripple’s request for SEC employees’ crypto transaction history. This request by Ripple, is in order to prove that XRP is harmless as SEC employees themselves would have for sure invested upon it. In addition, the overall court’s decisions are in terms of supporting the U.S Securities Exchange (SEC). 

Moreover, the CEO of Ripple, Brad Garlinghouse vented out his views in a recent interview to Fox Business.

The CEO’s  Views

Upon the interview, the CEO of Ripple, Brad Garlinghouse states openly that they are looking towards a concrete path to the future with the SEC. In addition, the CEO states that they are actually willing to be on good terms with the SEC. 

However, Garlinghouse states Ripple would never settle down with the SEC until or unless SEC gets a clear image of the truth behind XRP. 

In spite of all this, it’s clearly evident that the CEO is extremely confident over their native coin,the XRP. 

Comparisons of XRP

Apart from this, the CEO compares XRP to Ethereum (ETH) stating that both are similar and the only way in which XRP differs is on the basis of its incomplete ledger. 

In addition to this, Garlinghouse states that XRP is nothing different from the usual commodities. Accordingly, he states that XRP is the same as the usual commodities of trade like oil and gold.

Price of XRP 

The start of the month saw a steady rise in the price of the XRP. The price rose to about $1.50 , the highest for the month. 

However, the rise was short lived, as for the past few days the prices drifted down drastically. And so, now at present the price of XRP stands at $0.938 at the time of writing. 

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Swiss Alps Hotel Accepts Bitcoin (BTC) & Ethereum (ETH)

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Swiss Alps Hotel Accepts Bitcoin (BTC) & Ethereum (ETH)
  • Hotel in the Swiss Alps accept payments in Bitcoin (BTC) and Ethereum (ETH).
  • The five-star hotel Chedi Andermatt foresees business opportunities through this new move.
  • Chedi Andermatt is determined to lure in more customers.

This may not be completely out of the box news though. It has now become very common for all sorts of establishments to start accepting cryptocurrencies as means of payments. In this scenario, many hotels and profusely five star rated hotels have been accepting cryptocurrency payments for a long time. 

In spite of this, the latest in the line is the epic five star hotel, the Chedi Andermatt situated in the Alps mountains of Switzerland. Switzerland is always the most anticipated dream destination for almost everyone all over the world. To witness the beautiful sceneries with mountains and lakes, the majestic Alps mountains and so on, crowds all over the world hit the spot like anything. 

Accordingly, the most famous five star hotel is right in the Swiss Alps could be said to be a place for the wealthy. In spite of this, the five star hotel now officially states the acceptance of cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) as means of payments.

The GM’s Views

In spite of their new initiative, the General Manager of Chedi Andermatt states that the present age is the digital age and it’s the right time for them to adopt the digital technological advancements too. 

Moreover he adds, they knew very well for a long time the benefits from using cryptocurrencies and digital assets. 

And so, he terms now is the ripe time for them to implement them to their operations and hotel management. 

In addition, he insists that for the hotel to prosper into the future vividly, this adoption of crypto payments is extremely essential.

The New Strategy & Partnership

Besides, the GM reveals that they have made a partnership with the Switzerland based payment service, the Bitcoin Suisse. 

In spite of this, whatever payments are being done in either BTC or ETH, immediately the payment service converts them into Swiss francs for the hotel.

Moreover, the GM states that they are focusing more into the future profusely. Also, he points out that the majority of their customers range above the age of 30.

 In this age group of 30s , these groups of people are the main targets here, as these are the ones evidently focused into technology. 

In addition, he terms that digital assets means of payments and crypto payments will be the most used forms of payments in near future.

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Cardano Summit Sees Launch Of Exciting New Partnerships

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Picture of a Cardano logo with circles running around it

The Cardano Summit has now officially come to an end. Saturday and Sunday saw live and virtual events from around the world, while notable figures in the crypto space spoke at the event, including the founder of Cardano Charles Hoskinson. The event brought a lot of excitement to the space and allowed community members to interact with one another from around the world. But most notable has been the announcements of new partnerships made at the event.

Related Reading | Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off

In the weeks leading up to the event, the founder, developers, and individuals involved in the Cardano project had teased a lot of exciting new partnerships coming to the blockchain. Some of these announcements had been anticipated by the community. Mostly ones related to decentralized finance projects debuting on the network. But a couple of others were completely new to the space.

Cardano Partners With Veritree To Fight Climate Change

Climate change and crypto’s contribution to the problem is one that no doubt has to be addressed. In response to this, Cardano announced at the summit that it is taking proactive steps to fight this growing problem. Veritreeis a subsidiary of Tentree, a company that makes sustainable apparel by planting 10 trees for each clothing item sold. Using Veritree, the company aims to track its tree-planting efforts around the world.

Veritree which has planted 68 million trees in the past ten years has had a hard time keeping track of the trees it has planted. And using Cardano’s blockchain technology, Veritree can provide “immutable, transparent and audible blockchain-based report on all of Veritree’s afforestation and reforestation efforts — using a fraction of the carbon footprint of other blockchains.”

DeFi, NFTs, Staking, And More

Given the fact that smart contracts were deployed on the Cardano network not too long ago, announcements were expected on this front and the project did not fail. Developers behind the project announced various partnerships to this end, ranging from NFTs to staking.

NFT marketplace Rival joins the long list of new partners of the network to enable the creation and distribution of NFTs. As well as allowing NFTs to be redeemed in exchange for physical goods and distributing marketplace-based royalties. This will help improve the experience of users when minting and using NFTs on the Cardano ecosystem.

Related Reading | Why Cardano Bull Trend Isn’t Over And 91% Increase Is Imminent, deVere CEO Nigel Green

Another partnership with UBX, a UnionBank fintech venture studio, brings public stake pools to the public. This will allow users to earn rewards for staking their ADA tokens to help maintain and secure the blockchain. Furthermore, a partnership with AID:tech brings decentralized finance identity solutions to the blockchain. Using AID:tech, users can easily verify ownership, allowing a large number of transactions to be processed in a short time.

Other partnerships include a deal with cable provider and Fortune 500 company Dish Network/Boost Mobile to integrate its telecom services with the Cardano blockchain. And another partnership with Chainlink will give developers who are building on the blockchain to develop smart contracts and other solutions on the network.

Speaking on these recent partnerships, the founder of Cardano, Charles Hoskinson, explained, “We have to do a lot of science, a lot of innovation, and a lot of engineering.”

Featured image from Medium, chart from TradingView.com
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Art Auctions in Hong Kong Feature Five Highly-Anticipated NFT’s

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Art Auctions in Hong Kong Feature Five Highly-Anticipated NFT's
  • NFTs address shared and duplicated digital work.
  • Jacky Tsai, a Shanghai-based artist, designed a floral skull symbol in 2008.

NFT initiatives continue to explode in Hong Kong, celebrities join artists in supporting a technology altering how digital art and now movies, purchased and sold. Furthermore, NFTs address shared and duplicated digital work, lowering the value of having an “original” version of a piece.

Wong Kar Wai’s

In the Mood For Love, an unreleased behind-the-scenes video will be auctioned off by Sotheby’s in October. Moreover, Tony Leung Chiu-wai and Maggie Cheung Man-yuk appear in Wong’s most highly praised films from 2000.

Refik Anadol’s

Space pictures collected by satellites and spacecraft, utilized to create eight digital artworks by Turkish media artist Anadol. Furthermore, the images he gets are what machines dream about the cosmos.

They are created from over two million raw space pictures and sophisticated machine learning algorithms as if the original telescopes could think for themselves.

Shawn Yue Man Lok’s

Christie’s is presently auctioning 14 NFT artworks held by the Hong Kong star as part of the “No Time like Present” online charity sale.

Among the highlights of the auction are six CryptoPunks, a historical series. Moreover, for CryptoPunk #9997, the top offer in the auction is HK$5.5 million ($706,500), while the other five less uncommon CryptoPunks are all going for over HK$1 million.

Jacky Tsai’s

For fashion designer Alexander McQueen, Jacky Tsai, a Shanghai-based artist, designed a floral skull symbol in 2008. Since then, he’s used the skull in many of his works, including the NFT art he recently coined on Opensea, the Ethereum NFT art platform.

Lockdown

Bizhan Tong, 33, a British-Chinese director, is producing Asia’s first “NFT film” alongside Marvion Media, a blockchain technology firm. Moreover, The Walking Dead’s Xander Berkeley and Hong Kong actress Anita Chui Pik-ka feature in Lockdown.

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Daily Analysis -EOS, XLM, and TRX – September 27th, 2021

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Daily Analysis -EOS, XLM, and TRX - September 27th, 2021
  • EOS must avoid the $3.9340 pivot. 
  • On Sunday, Stellar dropped 0.32%.

The entire Cryptocurrency market is on a decline including top coins such as BTC and ETH. 

Even other altcoins had to face the heat, Let’s take a look at the daily analysis of EOS, XLM and TRX. To avoid a second day of losses, crypto would need to return to Sunday’s highs.

EOS (EOS)

On Sunday, EOS dropped 0.92 percent. After a 0.52 percent drop on Saturday, EOS fell 19.13 percent for the week to $3.9739. It dropped through the $3.9120 significant support level and the $3.8134 significant support level. Moreover, EOS surged to an intraday high of $4.1539, avoiding the third key support barrier at $3.6212.

This week, it breached the first significant resistance level at $4.1042 before slipping back into the red. EOS had a rocky start to the day, falling to a low of $3.9279 before recovering to $4.0076. Early on, it avoided testing key support and resistance levels.

EOS/USDT: Source: TradingView

To reach the first significant resistance level at $4.1938, EOS must avoid the $3.9340 pivot. To break clear of Sunday’s high of $4.1539, the market would need to rally. Unless crypto rallies broadly, the first significant barrier around $4.20 will likely limit any gains. According to CoinMarketCap, EOS price today is $3.95 USD with a 24-hour trading volume of $1,369,211,832 USD.

Stellar (XLM)

On Sunday, Stellar dropped 0.32%. Despite a 1.46 percent Saturday drop, it fell 11.86 percent this week to $0.2762.

It dropped through crucial support levels at $0.2701 and $0.2631. Furthermore, XLM rose to a late intraday high of $0.2832, avoiding sub-$0.25 support. However, falling short of the first significant resistance level at $0.2850, it dropped red.

1632777169 516 Daily Analysis EOS XLM and TRX September 27th 2021
XLM/USDT: Source: TradingView

XLM had a rocky start to the day, falling to $0.2730 before rebounding to $0.2778. It failed to test significant support and resistance early on. According to CoinMarketCap, Stellar price today is $0.273814 USD with a 24-hour trading volume of $356,373,202 USD.

TRON (TRX)

On Sunday, TRX fell 3.14 percent. Tron’s TRX fell 14.84 percent last week after losing 1.24 percent on Saturday. It fell to an intraday low of $0.08326 before making a rise. Tron’s TRX dropped through the $0.08871 and $0.8645 key support levels. It recovered late in the day, avoiding the third key support barrier of around $0.08161.

After failing to breach the first significant resistance level at $0.09355, Tron’s TRX dropped below $0.090 into the red. It fell through the first critical support level at $0.08871.

1632777170 44 Daily Analysis EOS XLM and TRX September 27th 2021
TRX/USDT: Source: TradingView

Tron’s TRX fell to a low of $0.08638 before rebounding to a high of $0.08841. It failed to test significant support and resistance early on. According to CoinMarketCap, TRX price today is $0.08862 USD with a 24-hour trading volume of $1,414,047,340 USD.

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AGMH.O Announces Strategic Partnership With HighSharp, Makes Six-Month Commitment To Breaking $100M Sales Mark

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AGMH.O Announces Strategic Partnership With HighSharp, Makes Six-Month Commitment To Breaking $100M Sales Mark

Strategic partnership will enable AGMH.O hit the $100 million mark in sales within six months

China, September 27, 2021 – AGM Group Holdings Inc. (“AGMH”) (NASDAQ: AGMH), an integrated technology company focusing on high-performance chip solutions, computing equipment, and fintech software services, announced that it entered into a six-month strategic cooperation agreement with HighSharp (Shenzhen Gaorui) Electronic Technology Co., Ltd (“HighSharp”), a renowned fabless integrated circuit designer that provides advanced semiconductor solutions for supercomputing hardware.

AGM Holdings Partners With HighSharp To Bring $100M In Sales

According to the agreement, HighSharp will grant AGMH the priority to use the latest generation of chips and production services. Additionally, AGMH commits to developing the relevant business clients and complete orders of at least $100 million within the cooperation term. After the corresponding order quantity is reached, HighSharp will jointly develop the exclusive AGM chips by the technology invested as capital stock with AGMH.

AGMH.O Releases Jinli Miner-C16

Previously, AGMH released the Jinli Miner-C16, with a rated hashrate of 113TH/S and an energy efficiency ratio of 30.9J/T, outpacing the best in the industry. It is worth noting that the majority of clients of AGMH’s C16 coming from the United States and Canada were nearly out of reach of the impact of China’s banning policy on bitcoin, and therefore distinguishes AGMH from its peers in the overseas markets. 

About AGM Holdings

AGM Group Holdings Inc., is a financial integration company focused on high-performance chip solutions. Headquartered in Beijing, China, the company provides chip design, chip research and development, and produces crypto mining hardware. AGM Group Holdings Inc. which trades on the NASDAQ with the ticker AGMH also provides fintech software services. AGMH aims to be a major player and contributor to the global blockchain ecosystem.

For more information on AGMH:

Website: https://www.agmprime.com/

Email: [email protected]

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Could A Bitcoin Bull Flag Leave Bears Blindsided

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bitcoin bull flag

Bitcoin price is at a crossroads, either ready to fall into the troughs of a bear market, or blast off and show the world the bull run has yet to officially end. But which is it? No one truly knows, but a technical pattern and the psychology behind it could reveal the potential outcome ahead of time.

Could a potential bull flag forming on daily timeframes confirm, and lead to what is ultimately the checkered flag of the current market cycle? Let’s examine the bullish chart pattern.

What Is A Bull Flag? Bitcoin Price Pattern Targets New All-Time Highs

Technical analysis is the study of chart patterns, sequences, candlesticks, indicators, oscillators and more. The study is used to improve profitability by using statistics to increase probabilities of results. This can vary from finding price targets to sell assets, or finding support and resistance.

A bull flag is a bullish chart pattern and there is potentially one forming on the daily BTCUSD price chart. It is hard to say that Bitcoin price action is bullish right now, considering it was trading at $65,000 only a few months ago, but the pattern fits the shape.

Related Reading | Build Base Or Bust? Bitcoin Touches Down On Parabolic Support

The pattern is characterized by a long sharp move that creates a flag “pole” followed by consolidation within a channel which represents the flag itself. Bull flags are often found slanting slighting downward, as the pattern gives bears the false sense they are winning, which results in an even sharper move higher when these traders realized they were wrong.

Will the bull flag pattern confirm? | Source: CME BTC1! on TradingView.com

The Psychology Behind The Chart Pattern Breakout

Bears sure seem to be in charge of Bitcoin price action as of late, but bulls could be preparing to blindside bears with a breakout of the bull flag pattern and short squeeze.

The psychology of the bull flag is the perfect setup: A pole is caused by bullish buying and shorts covering. At the local high, price repeatedly is rejected making lower highs and lower lows. Bears celebrate and but become complacent, even adding to losing short positions.

Related Reading | Why Bitcoin Bears Might Not Get To Buy New Lows

When bulls gain the upper hand, the resulting breakout is often even stronger than the pole itself, because more shorts have piled on who cover, combined with any incorrect positions that have accumulated during the pattern itself.

Bitcoin price is currently at $43,000, and if the pattern is valid, based on the measure rule the target would be closer to $82,000. Serious momentum from buyers and shorts covering both would be necessary to restart such a powerful trend.

Doubling in value from one price pattern alone would be shocking for bears and bulls alike, but it would be accurate based on a variety of factors. For example, the bull flag is touching down on what could be a parabolic base three, or an Elliott Wave impulse wave five just beginning. It also could be one big trap for Bitcoin bulls who could get caught in further downside.

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com

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