There are now almost 7000 Bitcoin: USD/BTC (BTC=X) ATMs Worldwide

There are now almost 7000 Bitcoin: USD/BTC (BTC=X)  ATMs Worldwide

There are now almost 7000 Bitcoin: USD/BTC (BTC=X) ATMs Worldwide

ATMs that support digital coins and cryptocurrency have increased parallel to the trend on the market since the beginning of the year, reports Bitcoin.com.

With the promising start this year had with cryptocurrencies – Bitcoin itself has risen from a price of below $7000 since the first days of January to about $10,000 during the ides of February (an increase that many attributed to the spread of the Novel Coronavirus) – interest is returning to the crypto space. More people are seemingly looking to invest in digital assets.

Bitcoin ATMs are an accessible way to acquire cryptos for those who are looking to enter the ecosphere, and, according to Google Trends, people have been asking for this type of thing more and more in the last few years.

The number of newly installed Bitcoin ATMs has continued to grow at a stable rate this year, according to CoinATMRadar. January 2020 reports show that there were 6377 operating devices around the world when the year began – 432 machines were launched during the month, while only 104 were closed, representing a net growth of 5.1%.

Most of the machines allow you to buy and sell multiple currencies. Bitcoin core (BTC) is the most widely supported Bitcoin on all but three of the 6833 active ATMs for obvious reasons. Around two-thousand devices currently offer Bitcoin cash. Other currencies being offered in cash by certain devices include zcash (ZEC), dogecoin (DOGE) and monero (XMR), though these currencies have decreased in relation to Bitcoin within the ATMs.

In South Africa, there are currently seven Bitcoin ATMs. 1 in Johannesburg, 2 in Pretoria, 1 in Nelspruit and 3 in Cape Town. The US is currently the country with the highest number of Bitcoin ATMs, having the vast majority at 4874. They are followed by Canada at 742 and the UK with 306.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 10,508.58.

The projected lower bound is: 9,201.94.

The projected closing price is: 9,855.26.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

An engulfing bullish line occurred (where a white candle’s real body completely contains the previous black candle’s real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.

If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with FOREX BTC=), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle’s real body.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 31.4279. This is not an overbought or oversold reading. The last signal was a sell 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.89. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 5 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -62. This is not a topping or bottoming area. The last signal was a sell 4 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 3 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed up 148.860 at 9,803.990. Volume was 23% below average (neutral) and Bollinger Bands were 8% narrower than normal.

Open     High      Low     Close     Volume___
9,640.0109,815.6009,491.0409,803.990 95,180
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 10,020.39 8,847.32 8,856.29
Volatility: 43 48 56
Volume: 269,759 150,768 100,241

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX BTC= is currently 10.7% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 44 periods.

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