Bitcoin price analysis: BTC/USD stalls at $6,500 hurdle as Okex Delists 28 Token Pairs
|- The critical resistance at $6,600 is the next important hurdle for the buyers in the medium-term.
- “We discovered that some projects have met the token delisting/hiding thresholds…,” Okex.
Bitcoin price continues to battle with the resistance at $6,500. It had a brief step over above this resistance level following the analysis we published earlier in the day, however, the price declined marginally and found a support at $6,450. Bitcoin buyers have strong buying power on Friday but the sellers are still limiting gains to the upside.
The stochastic on the hourly chart is ranging above the 80% mark to signal that the buyers have the upper hand. The 50-day moving average on the same chart is above the 100-day moving average, confirming the bullish trend.
On the upside, a sustained break above $6,500 is possible in the near-term. Bitcoin came close to $6,600 during the trading on Thursday but corrected lower of failure to clear the resistance. The critical resistance at $6,600 is the next important hurdle for the powers in the medium-term.
In other news, Hong Kong-based cryptocurrency exchange, Okex announced that it is going delisting various altcoin pairs from its platform. The pairs to be delisted over a couple of dozens, although others will be hidden from the exchanges list of tradable assets. OKex exchange said in a blog post:
“To maintain a healthy trading environment and pleasant trading experience on OKEX, our auditing team has carried out comprehensive monitoring on the market and projects. We discovered that some projects have met the token delisting/hiding thresholds stated in the OKEX Token Delisting / Hiding Guideline.”
The delisting took place at “12:00 Aug 17, 2018,” according to the communication from the exchange. It asked the customers to “cancel your pending orders before delisting, or they will be canceled with your assets returned to your spot account by the system automatically after delisting.”
Some of the pairs that have been delisted are against USDT: “LA, READ, SNM Against ETH: UTK, WRC, QVT, SAN, UBTC, DNT, OAX Against BTC: UBTC, BCX, BT2, WBTC, UKG, LA, SAN, ATL, REQ, BRD, SNM, VEE, TIO, REF, UTK, WRC, QVT, DNT.”
BTC/USD 1-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.