Cryptocurrency Exchange HolyTransaction Integrates Gridcoin

Today is a good day: Holy Transaction finally decided to integrate Gridcoin into its trading platform. I mainly trade digital currencies on the big exchanges such as Poloniex, but I decided to give the HolyTransaction (HT) platform a whirl to get a feel for the execution and functionality. Upon signing up and logging into my account, I noticed that the design of the site is very simple and intuitive. It really is refreshing to see an uncluttered exchange that doesn't require users to have a Ph.D in computer science. I deposited a small amount of GRC and noticed that the coins were deposited in my account after only 1 confirmation, which is very speedy when compared to the 5-10 confirmations that other Gridcoin exchanges require.

Trading: 



The conversion between different digital currencies on the HolyTransaction platform is actually very simple: just select which cryptocurrency you would like to purchase and with which Crypto/Fiat currency you would like to pay. I was very pleasantly surprised at the overall simplicity of the trading process. The trading window consists of simple order form with a quotes window on the right side - simple and efficient. HT does allow users to use US dollars to purchase cryptos, but not for US residents, due to various regulatory issues. HT is also accessible through smartphones and this allows iPhone users to get their hands on GRC, which was not possible prior to today's announcement! Big victory for Gridcoin in that regard!

Conclusion:

Buying and selling Gridcoin on the HT platform is a breeze. The fiat funding option makes it much easier for new investors to enter the alternative cryptocurrency market without the need for Bitcoin!


Image Source: https://holytransaction.com

Bitcoin Technical Analysis for 09/20/2015



Bitcoin has been grinding in a tight range for the past two days, but I think there is some potential for a bullish move in the coming days. Price is currently trading above two key pivot areas - $230.30 and $229.00! I would consider the pivot at $230.30 to be a "major" one, as this area has been respected about three times as support/resistance. The pivot at $229 is of less significance, but this level should not be ignored, as the price used this level as resistance on the 16th, and as support on the 17th. Unless price plunges down through both of these pivots, the path of least resistance seems to be UP! So, I would look for long entries near these important levels.



The 4-hour chart is also showing a "Head&Shoulders" technical pattern forming, of course the right shoulder has not formed yet, but the setup is there. If I were trading this setup, the ideal buying price for me would be right at, or anywhere between $229 and $230.30!



Chart Source: okcoin.com

USDJPY Technical Levels for 09/16/2015

If you trade the USD/JPY Forex pair, keep your eyes on the the 120.46 pivot level. This area did provide resistance yesterday, as the market reversed rapidly once it his this level. Today price managed to breakout over 120.46 and when price retraced back down, the 120.46 level then provided support. Price is currently hoovering around 120.61, so the 120.46 level should now act as support again. However, if price does make it under 120.46, today or tomorrow, then this level will most likely turn into resistance again. Trade accordingly!