Analysts | Biz Builder Mike

Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC, XLM

October 25, 2020 by bizbuildermike

Hot on the heels of Paypal’s crypto adoption, JPMorgan’s Global Markets Strategy division released a report detailing how Bitcoin (BTC) could offer “considerable” upside “if it competes more intensely with gold as an ‘alternative’ currency.”

According to the analysts, the three reasons for their long-term bullish view on Bitcoin are the large valuation gap between Bitcoin and gold, the growing utility of cryptocurrencies, and millennials preferring Bitcoin over gold in the long-term.

This report shows that institutions are gradually realizing the huge potential of cryptocurrencies and are willing to take a U-turn on their previous apprehensions.

*Crypto market data daily view. Source: Coin360*

Galaxy Digital CEO Mike Novogratz said that PayPal’s decision on crypto could force other big banks to consider ways to engage with digital assets. “We are going to see, over the next 10 years, a rebuilding of the financial infrastructure of this country,” Novogratz added in an interview with CNBC.

On similar lines, in a recent interview with Peter McCormack, Gemini crypto exchange founders Tyler and Cameron Winklevoss reiterated their bullish Bitcoin stance, explaining that they expect BTC to eventually reach $500,000.

The twins believe that if big Fortune 100 or 500 companies and central banks start buying Bitcoin for their treasury reserves, Bitcoin’s price could soar.

At the moment investors are wondering if Bitcoin can build upon the current bullish momentum and continue its journey northward.

Let’s study the charts of the top-5 cryptocurrencies to find out if Bitcoin and altcoins will move higher.

BTC/USD

Bitcoin (BTC) is in an uptrend and the price has been sustaining above the breakout level of $12,460 for the past few days. The rising 20-day exponential moving average ($11,938) and the relative strength index in the overbought zone suggest that bulls are in command.

The bulls had pushed the price above $13,214 today but they could not sustain the higher levels. This suggests that the bears have not yet thrown in the towel and are defending the $13,200 level.

However, as the trend is up, the bulls are likely to buy on dips to the breakout level of $12,460. Even if this support cracks, the bulls may again step in and buy at the 20-day EMA.

If the BTC/USD pair rebounds off either level, the bulls will once again try to push and sustain the price above $13,214. If they succeed, a rally to $14,000 could be on the cards.

This positive view will be negated if the bears sink the price below the 20-day EMA. Such a move will suggest that the current breakout was a bear trap.

*BTC/USD 4-hour chart. Source:* *TradingView*

The bears thwarted an attempt by the bulls to extend the uptrend today when they did not allow the bulls to sustain the price above $13,214. The sellers dragged the price down to the

immediate support at the 20-EMA on the 4-hour chart.

The bulls are currently attempting to keep the price above the 20-EMA but the bearish divergence on the RSI suggests that the momentum may be weakening.

A break below the 20-day EMA could result in a retest of $12,460, while a strong rebound off the current levels could resume the uptrend.

ETH/USD

Ether (ETH) broke above the $308–$396 range on Oct. 22, which suggests that the bulls have overpowered the bears. Although bears have stalled the up-move at $420, they have not been able to pull the price back below $396.

This suggests that the bulls are buying on dips to $400. The upsloping 20-day EMA ($383) and the RSI above 59 also indicate that bulls have the upper hand.

If the bulls can push the price above $421, the ETH/USD pair could start a rally that may challenge the Sep. 1 highs at $488.134.

This bullish view will be invalidated if the bears sink the pair back below $396 and the 20-day EMA at $383. Such a move could keep the pair range-bound for a few more days.

*ETH/USD 4-hour chart. Source:* *TradingView*

The pair has formed a flag pattern following the breakout above $400. The long tail on the retest of the breakout level suggests that bulls are accumulating at lower levels. A breakout above the flag will signal the possible start of a new uptrend.

Contrary to this assumption, if the bears sink the price below the flag, a drop to the $396–$400 zone is likely. If the pair once again rebounds off this support, the bulls will try to resume the uptrend. Conversely, the trend will favor the bears if the $388 support cracks.

XRP/USD

Although XRP has not yet started an uptrend, it has formed a possible inverse head and shoulders pattern that will complete when the price breaks out and closes above the overhead resistance at $0.26.

If that happens, the XRP/USD pair could pick up momentum and rally to $0.30. A sequence of higher highs and higher lows since the Sep. 23 lows indicate a minor advantage to the bulls.

If the pair rebounds off the 20-day EMA ($0.249) or the uptrend line, the bulls will try to drive the price above $0.26.

This positive view will be negated if the bears sink the price below the uptrend line. Such a move could result in a drop to $0.228409.

*XRP/USD 4-hour chart. Source:* *TradingView*

The failure of the pair to sustain above $0.26 could have resulted in the liquidation of long positions that pulled the price below the 20-EMA on the 4-hour chart.

Currently, the flattish 20-EMA and the RSI near the midpoint suggests a balance between supply and demand.

A breakout of $0.2635 could tilt the advantage in favor of the bulls while a break below the uptrend line may signal an upper hand to the bears.

LTC/USD

Litecoin (LTC) completed an inverse head and shoulders pattern when it broke out and closed above the overhead resistance at $51.50 on Oct. 21. This setup has a target objective of $61.50 and if this level is crossed, the up-move may extend to $64.

The rising 20-day EMA ($51.30) and the RSI near the overbought zone suggest that bulls have the upper hand.

Usually, after the breakout of a reversal pattern, the price dips to retest the breakout level. In this case, such a move could drag the price down to $51.50. If the price rebounds off this level, it suggests that the breakout is valid.

However, if the bears sink the LTC/USD pair below the 20-day EMA, it will suggest a lack of demand at higher levels. Therefore, it is a good strategy to wait for a rebound from a strong support before buying rather than enter on the way down.

*LTC/USD 4-hour chart. Source:* *TradingView*

The 20-EMA on the 4-hour chart is sloping up and the bulls have been buying the dip to this support in the past few days. This suggests that the sentiment is positive and the bulls view dips as a buying opportunity.

The RSI has been trading near the overbought zone, which also suggests that bulls are in control. A break below the 20-EMA will be the first sign that the momentum may be weakening. Such a move could result in a drop to $53 and then to $51.50.

XLM/USD

Stellar Lumens (XLM) has repeatedly risen above the overhead resistance at $0.084584 in the past few days but the bulls have not been able to capitalize on the move and start a new uptrend. This suggests that the bears are defending this resistance.

However, the upsloping 20-day EMA ($0.080) and the RSI in the positive territory suggests that bulls have the upper hand.

If the bulls can propel the price above the $0.084584–$0.087753 resistance, the XLM/USD pair will complete a rounding bottom pattern. This reversal setup has a target objective of $0.102327.

Contrary to this assumption, if the pair turns down from the current levels and breaks below the 20-day EMA, it will suggest that the bulls have squandered their advantage.

*XLM/USD 4-hour chart. Source:* *TradingView*

The pair broke below the support line of the triangle but the bears have not been able to capitalize on this move. The bulls are currently attempting to push the price back inside the triangle.

If they succeed, the pair could rally to the resistance line of the triangle. A breakout and close above the triangle might begin a new uptrend.

Contrary to this assumption, if the bears sustain the price below the support line of the triangle, the sentiment could weaken and the pair may drop to $0.079 and lower.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC, XLM

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Best of Both Worlds: Integrating Zimperium Mobile Threat Data into Microsoft Sentinel Cloud-Native SIEM

October 7, 2020 by bizbuildermike

While leading organizations are actively protecting mobile endpoints, security teams haven’t had clean and scalable ways to integrate and correlate threat data with other parts of the security infrastructure. But that is changing.

I recently hosted a webinar with David Branscome, Senior Cloud Solutions Architect, Microsoft and our very own Kern Smith, Vice President of Solution Engineering, discussing how – as the first and only mobile threat defense (MTD) solution integrated with Azure Sentinel – security analysts are now able to include Zimperium mobile threat data in their advanced threat hunting and threat correlation analysis.

To watch our on-demand webinar, please click here.

According to David, the SecOps mission of protecting organizations’ information and assets is becoming increasingly difficult. Attack techniques, frequency, and complexity are evolving fast. Security teams are under strain from the expanding breadth of defensive technologies, accelerating hybrid cloud adoption, and borderless, zero-trust networks. The shortage of SecOps talent makes this problem worse.

Considering the future needs of SOCs, these are the most prominent pain points:

Threats continue to grow in complexity and volume

Attacks are increasingly heterogeneous. A typical attack spans different parts of the enterprise and crosses various resource types: it might start from an IoT device, proceed to an endpoint, spread to a cloud service or to a database, involve multiple user accounts or tenants, and so on.

Alert fatigue: SOCs see too many alerts from disconnected products

Enterprise SOCs typically have dozens of security products, each producing a large volume of alerts. In isolation, these products often have high false positive rates and poor response prioritization, resulting in deafening alert noise. Attacks fall through the cracks despite generating alerts. Unfortunately, legacy SIEMs are functioning only as aggregators and don’t increase response capabilities. Enterprise SOCs need a way to integrate their security products to reduce the noise, prioritize alerts, and enable investigation and hunting across the entire dataset.

There is a global shortage of security analysts and experience

The need for skilled security professionals has greatly increased, and supply cannot meet current or future demand. A recent report by CSO magazine showed that this global talent shortage will increase to 3.5 million unfilled security jobs by 2021.

Investigation is complex and time-consuming

Every second counts when SecOps personnel are handling a threat that might jeopardize their organization. The clock is ticking fast, but investigation requires highly skilled security analysts and can often take days or weeks.

Legacy solutions are not architected for today’s demands, or tomorrow’s

Many legacy on-premises SIEMs require powerful hardware and extensive maintenance that make them expensive to operate. Storage and compute needs increase dramatically during an incident, which is difficult for an on-prem footprint to accommodate. The move to the cloud has enabled a new degree of enterprise scale-out, and with the explosion of cloud-born data, legacy SIEMs are less and less able to cope with the demand.

The cloud can help manage that complexity of the expanding digital estate. It simplifies and makes security easy to manage. Harnessing the power of cloud will set your SecOps teams free of IT work and help them focus on security work with no limits.

Next generation of AI and automation in the cloud helps to super-charge your work. It will leverage the large-scale intelligence available in the cloud and make it work for you.

David explained that’s why the SIEM + SOAR tool was reimagined to introduce a new cloud-native solution called Microsoft Azure Sentinel – providing intelligent security analytics at cloud scale for your entire enterprise.

David went on to explain that Azure Sentinel makes it easy to collect security data across your entire hybrid organization from devices, users, apps, servers and any cloud, it uses the power of AI to ensure you are identifying real threats quickly, and unleashes you from the burden of traditional SIEMs by eliminating the need to spend time on setting up, maintaining and scaling infrastructure.

Since it is built on Azure, it offers limitless cloud scale and speed, scaling automatically to address your needs.

Traditional SIEMs have also proven to be expensive to own and operate, often requiring you to commit upfront and incur high cost for infrastructure maintenance and data ingestion. With Azure Sentinel there’s no upfront costs, you only pay for what you use, and Microsoft offers free Office 365 activity data import to help you reduce security costs significantly.

Patented detection engine designed for mobile

One of the endpoints needing to be protected are mobile devices. Zimperium offers the only real-time, on-device, machine learning-based protection against Android and iOS threats, including the detection of device, network, phishing and malicious app attacks. When we detect suspicious activities on-device, it sends detailed threat forensics data that can be used for SOC analysis.

Our detailed forensics can be integrated with Sentinel, providing a fuller, more detailed and clearer picture on what’s going on within a given organization as a whole, not just specifically on mobile or in silos on other endpoints. Organizations can maximize the value of all solutions and create a more cohesive security structure for the entire company.

Zimperium & Microsoft Azure Sentinel

Any analytics tool is only as good as the data that it gains. We provide granular forensics and granular detections across that full stack of threats – both early on in the kill chain cycle and leading up to any full device compromises – so that organizations can leverage Sentinel to identify those initial exposure points, stop the attack in its tracks and prevent it from spreading across the rest of the organization.

Best of Both Worlds on-demand webinar

Watch our on-demand webinar to see David and Kern talk about and demonstrate:

Integrating mobile threat data from Zimperium into Azure Sentinel;
Achieving visibility, correlation and threat hunting across all endpoints and networks;
Utilizing Azure Sentinel to respond to incidents with built-in orchestration and automations.

Contact us

To learn more or to schedule your own demonstration, please contact us.

Best of Both Worlds: Integrating Zimperium Mobile Threat Data into Microsoft Sentinel Cloud-Native SIEM

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Price analysis 10/2: BTC, ETH, XRP, BCH, BNB, DOT, LINK, CRO, BSV, LTC

October 2, 2020 by bizbuildermike

The shallow pullback in Bitcoin (BTC) following the news of the CFTC’s regulatory crackdown on BitMEX and the late announcement that U.S. President Donald Trump tested positive for coronavirus shows that the underlying sentiment is still bullish.

Generally, most damage during such periods of negative news flow is caused by the squaring up of leveraged positions. Data shows that Bitcoin futures volume and open interest has been dropping since hitting the peak in early September.

This means that there were fewer long positions that had to be squared up in a hurry and it also may explain why a sharper crash was avoided.

Daily cryptocurrency market performance. Source: Coin360

Even though Bitcoin has largely been range-bound for the past few weeks, on-chain data shows a sharp inflow of new participants. Analysts view this user growth as positive because it suggests that new traders consider Bitcoin as a store of value.

Traders can look for the cryptocurrencies that bounce back quickly from the current weakness because that shows strong buying on dips. Let’s analyze the top-10 cryptocurrencies to spot the critical support and resistance levels.

BTC/USD

Bitcoin once again reversed direction from close to $11,000 on Oct. 1, which shows that the bears are aggressively defending the zone between the 20-day exponential moving average ($10,704) and the 50-day simple moving average ($11,017).

BTC/USD daily chart. Source: TradingView

The price action of the past few days has formed a symmetrical triangle pattern, which shows indecision among the bulls and the bears about the next directional move. This uncertainty could resolve after the price breaks above or below the triangle.

The gradually downsloping moving averages and the relative strength index in the negative territory suggest that bears have a slight advantage.

If the BTC/USD pair breaks and closes (UTC time) below the triangle, it will suggest that the bears have overpowered the bulls. The sellers will then try to break the critical support at $9,835 and if they succeed, a drop to $9,000 could be on the cards.

However, the long tail on today’s candlestick shows that the bulls are accumulating on dips to the uptrend line. They will now try to push the price above the resistance line of the triangle.

If they succeed, the pair may face minor resistance at $11,178 but if the bulls can push the price above this level, a rally to $12,460 is possible.

It is difficult to predict the direction of the breakout with certainty, hence, it is better to wait for the breakout to happen before taking large bets.

ETH/USD

The bulls had pushed Ether (ETH) above the downtrend line on Oct. 1, but they could not sustain the higher levels. This may have attracted profit-booking by short-term traders that pulled down the price back below the 20-day EMA ($358).

ETH/USD daily chart. Source: TradingView

The gradually downsloping moving averages and the relative strength index in the negative zone suggests that sellers have the upper hand.

However, the previous two sharp bounces off the $308.392 support zone show that the bulls aggressively accumulate closer to this level. Hence, the buyers may again use the current dips to buy.

A breakout of the 20-day EMA will be the first indication that the correction could be over. Conversely, a break below $308.392 may signal the start of a deeper correction to $240.

XRP/USD

XRP’s failure to rise above the 20-day EMA ($0.241) could have attracted profit-booking by the aggressive bulls and shorting by the bears. The downsloping moving averages and the RSI in the negative zone suggest that the sellers have the upper hand.

XRP/USD daily chart. Source: TradingView

If the bears sink the XRP/USD pair below the $0.2295–$0.219712 support zone, the downtrend could resume. The next support on the downside is at $0.19.

However, the bulls are likely to defend the support zone aggressively and make one more attempt to push the price above the 20-day EMA and the downtrend line. If they succeed, it could signal a possible change in trend.

BCH/USD

Bitcoin Cash (BCH) turned down from just below the downtrend line on Oct. 1 and has continued its downward march towards the critical support at $200.

BCH/USD daily chart. Source: TradingView

The repeated retest of a support level within a short interval tends to weaken it. A breakdown and close (UTC time) below $200 could lead to panic selling and increase the possibility of a deeper fall to $140.

Contrary to this assumption, if the price turns up from the current levels or rebounds sharply from the $200 support, it will suggest that bulls are accumulating at lower levels.

A breakout and close (UTC time) above the downtrend line will be the first sign of strength and a break above $242 will increase the possibility of a rally to $280.

BNB/USD

Binance Coin (BNB) turned down from just above the 61.8% Fibonacci retracement level of $29.0886 on Oct. 1. However, the positive sign is that the bulls have not allowed the price to sustain below the 20-day EMA ($26.37)

BNB/USD daily chart. Source: TradingView

The upsloping moving average and the RSI in the positive zone suggest that the advantage is with the bulls. If the buyers can push the BNB/USD pair above the downtrend line and the overhead resistance at $29.5646, the uptrend could resume.

Contrary to this assumption, if the bears sink the BNB/USD pair below the moving averages, it will increase the possibility of a deeper correction to $22.20.

DOT/USD

The bulls attempted to push Polkadot (DOT) above the 20-day EMA ($4.49) on Oct. 1 but failed. This has dragged the price down to the critical support zone of $3.90–$3.5321.

DOT/USD daily chart. Source: TradingView

The downsloping 20-day EMA and the RSI in the negative zone suggest that the path of least resistance is to the downside.

If the bears can sink the DOT/USD pair below the support zone, a decline to $2.782 and below it to $2 is possible.

However, if the pair rebounds off the support zone, the bulls will make one more attempt to push the price above the 20-day EMA and the overhead resistance at $4.6112. If they succeed, it will open up the doors for a move to $5.5899.

LINK/USD

Chainlink (LINK) has broken below the $9.3771 support and if the bears can sustain the lower levels, a retest of $6.90 is possible. The downsloping moving averages and the RSI close to 40 suggests that the path of least resistance is to the downside.

LINK/USD daily chart. Source: TradingView

If the bears sink the price below $6.90, the downtrend could resume and the next support is at $5.70.

The bulls will have to break the lower high and lower low formation by pushing the price above $11.1990 to signal a possible change in trend.

If they are able to achieve this, the LINK/USD pair may start a new uptrend above the downtrend line.

CRO/USD

The bears are attempting to sink and sustain Crypto.com Coin (CRO) below the critical support at $0.144743. If they succeed, it will complete a descending triangle pattern, which is a reversal setup.

CRO/USD daily chart. Source: TradingView

The down sloping 20-day EMA ($0.154) and the RSI below 40 suggest that the path of least resistance is to the downside. Below $0.144743, the CRO/USD pair may fall to $0.124129 and then to the pattern target of $0.10607.

This bearish view will be invalidated if the pair rebounds off $0.144743 and rises above the moving averages. The failure of a bearish setup is considered as a bullish sign, hence, above the 50-day SMA, a retest of the $0.183416–$0.191101 zone is likely.

BSV/USD

Bitcoin SV (BSV) climbed above the downtrend line on Sep. 30 and Oct. 1 but on both days, the bulls could not clear the 50-day SMA ($178), which suggests that the bears are defending this resistance.

BSV/USD daily chart. Source: TradingView

The failure to clear the hurdle at the 50-day SMA could have attracted profit booking by the short-term traders and shorting by the aggressive bears.

As a result, the BSV/USD pair has again dipped back below the 20-day EMA. The bears will now once again try to challenge the $146.20–$135 support zone.

If they are able to sink the price below this zone, the pair may decline to $100. This bearish view will be invalidated if the pair turns up and sustains above $180.

LTC/USD

Litecoin (LTC) broke above the 20-day EMA ($46.83) on Oct. 1 but could not rise above the downtrend line. This could have led to profit booking by the short-term traders and has pulled the price back below the 20-day EMA.

LTC/USD daily chart. Source: TradingView

However, the long tail on today’s candlestick suggests that the bulls are buying on dips. The buyers will once again try to push the price above the downtrend line.

If they succeed, the LTC/USD pair could move up to the 50-day SMA ($52.51) and if this level is scaled, the rally may extend to $64.

This bullish view will be invalidated if the pair turns down and breaks below the $41.6298–$39 support zone. Such a move could start a new downtrend.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Price analysis 10/2: BTC, ETH, XRP, BCH, BNB, DOT, LINK, CRO, BSV, LTC

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