Decentralized Options Exchange Etheropt Uses Automated Ethereum Smart Contract

Ethereum keeps capturing the imagination of both developers and digital currency enthusiasts all over the world. As new platforms are being announced around the clock, the ecosystem is growing into something very powerful. One of the latest announcements comes in the form of Etheropt, a platform that is live on the Ethereum mainnet which offers decentralized options exchange opportunities.

Also read: Bitcoin Price Watch; A Shifted Range in Focus

The Etheropt Decentralized Options Exchange

Similar to Bitcoin, the Ethereum blockchain is all about decentralizing as many platforms as humanly possible. Although Bitcoin offers a variety of trading and exchange platforms, very few of them are decentralized at their core. Things could play out differently when Ethereum is involved, as impressive new platforms are coming to fruition.

Etheropt is one of those platforms, which is entirely decentralized. Moreover, this is not your everyday digital currency trading service either, as the main purpose is to exchange a variety of options. What is even more interesting is how all of the options are call and put options related to the Ethereum price, denominated in US Dollar.

The price per Ether will be taken from multiple sources, including Poloniex – the main exchange for ETH trading – and will be verified by Reality Keys. Since no owner is running this platform, all of the trades, deposits, and withdrawals are executed automatically through an Ethereum smart contract. Decentralized autonomous trading is what digital currency was designed to do, and it is good to see new platforms pop up embracing this principle.

What is even more appealing to potential traders is how Etheropt does not charge any fees. Unlike traditional exchange platforms, where a small portion of every trade is taken as a fee, no one will be making money from this concept other than the people successfully placing their options. Moreover, deposits and withdrawals are not subject to any fees either.

Etheropt users can ether deposit funds directly in Ether, or use to convert any of the supported digital currencies into ETH. It is positive to see the Etheropt developer looking at various ways to make this platform more accessible to all kinds of digital currency enthusiasts.

Source: Reddit

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So we’re going to start off this afternoon’s bitcoin price analysis with a chart. The chart below shows the action we saw this morning throughout the session in Europe, with the framework we outlined overlaid.

bitcoin price 2

As the chart shows, the range we had outlined was a close to five-dollar range with in term support at 411.5 and resistance at 416 flat. When placing our key levels, the decision to go for a tighter range meant we ignored the most recent swing low (close low at 410 flat and tail low at circa 408.5, in the hope that we’d get in on some more restricted volatility. As it turned out, we’d have probably been better going for the wider range, and using the close low as our support level. Price broke our in-place support shortly after lunch in Europe, and we got a nice run down towards our target. However, a couple of dollars short, price reversed and now trades within our earlier defined range – just short of our stop loss on the trade. We may get some luck and see a second reversal, but its looking unlikely as things stand.

Anyway – let’s look forward. As per our strategy rules, we won’t be entering any positions until this one terminates, be it via stop hit or target hit. For those not yet in a trade, however, here’s what to keep an eye on this evening. Take a quick look at the chart to get an idea of our key levels.

bitcoin price 1

As the chart shows, we are looking at in term support at 410 flat and in term resistance ta 414.54. We’re about mid-range, so let’s look at the upside first/ A close above resistance will signal a long trade towards 420 flat. A stop on this one around current levels (circa 412) defines risk.

Looking short, a close below support will signal a downside entry towards 405 flat, with a stop at 411.5.

Charts courtesy of Trading View

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Simplefx offers a simple interface where traders can easily have access to a lot of relevant information that will help them stay on profit. The company’s mission is to offer simple and transparent trading conditions and help newcomers understand how to trade in international markets. The Broker allows new users to open demo accounts in order to practice before trading with real money. It also offers a diverse range of trade options specially designed to benefit all traders.

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Simplefx bitcoin support makes deposits and withdrawals extremely fast, the high leverage (500:1) lets users trade with a small account. The offered margin-call level is 100%, which represents a fairly safe threshold for investment. If you are looking to invest your bitcoins in forex trading, Simplefx is the right place to start.


The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories such as this one.

More and more countries around the world are starting the concept of digital currency seriously these days. The Dutch central bank is joining this growing list, as they seem to have concrete plans to issue a new digital currency in the not-so-distant future. As one would come to expect, the central bank looks to deploy distributed ledger technology to issue this new currency, although most of the details remain shrouded in mystery for the time being.

Also read: Dragon’s Tale – Learn Cow Tipping Techniques and Earn Some Coins

Dutch Central Bank and Digital Currency

Despite grave concerns by the Bank of England over central banks issuing their own digital currencies, all caution is being thrown to the wind by the Dutch central bank. Or that seems to be the indication of their most recent annual report, as the aim for 2016 features a project called “DNBCoin”.

As the name suggests, this could end up being the digital currency issued by the Dutch central bank, as its official name is “De Nederlandsche Bank”. Original names are rather difficult to come by when traditional financial institutions come up with new projects, although DNBCoin makes it rather easy for consumers to remember.

Most of the details regarding this project remain shrouded for the time being, although we do know the Dutch central bank has been exploring blockchain technology for quite some time now. Despite of the fact that distributed ledgers hold a lot of potential to increase the current day-to-day operations, there is something alluring about the aspect of issuing one’s own digital currency.

The absence of a clear roadmap or timeline for DNBCoin makes it hard to predict what will happen to this project. The Dutch central bank did mention this is just a prototype digital currency, which might never even be made available to mainstream consumers in the end. Considering how other central banks around the world seem to be pursuing similar plans to issue their own digital currency in the future, the waiting game can begin.

It is important to keep in mind that, when a central bank issues their own digital currency, there is no competition for Bitcoin or any other decentralized cryptocurrency in existence right now. Centralized digital currencies and Bitcoin are two entirely different things, and they’re not even in the same league.

Source: DNB

The term dark web seems to come up fairly often these days, and in most cases, there is a link to Bitcoin being used as one of the supported payment methods. A recent arrest in Fresno, CA is related both Bitcoin and the dark web, as one person was identified as selling drugs on an underground marketplace in exchange for digital currency payments. All of these packages were distributed to buyers all over the United States by using post offices in and around San Francisco.

Also read: Bitcoin Price Watch; Pattern Suggests Volatility

Dark Web Drug Dealer Arrested

Although some people might argue there are plenty of legitimate reasons to browse the dark web, systems like those will be abused sooner or later. Depending on how many media headlines one can bear to read, the dark web is nothing more than a collection of underground marketplaces for drugs, stolen financial information, and who knows what else. Bitcoin plays an integral part in this machine as well, as it remains to – alleged – preferred method of payment for internet criminals.

The Department of Justice, together with Homeland Security, USPS, and the IRS have been able to arrest one man selling drugs via the dark web. Accessing these underground marketplaces requires special software – called Tor – which lets users access the part of the Internet that is not indexed by search engines.

Keeping in mind how this person has been able to sell drugs on the dark web for several years, it has taken authorities a lot of time to build up a case against this man. During this period, Burchard was able to mail packages filled with drugs to customers across thirteen different states, and he – allegedly – frequented post offices in Clovis and Merced. This type of routine behavior could have been his downfall, though.

Conducting business on the dark web is completely anonymous, and by accepting Bitcoin payments, it become increasingly difficult to put a name and address on this infamous online narcotics dealer. So far, the investigators think Burchard conducted over 1,000 transactions on the dark web, dating back all the way to Silk Road before that platform was shut down. All of these operations add up to roughly US$1.4m, and nearly all of these payments have been received in Bitcoin.

During this arrest, law enforcement agents have confiscated several computers, cars, shipping boxes, and a trash bag filled with marijuana. However, the Department of Justice fully realizes they only won a small battle, as the war against online drug trafficking is far from over. The dark web is a place where setting up illegal marketplaces for the sale and purchase of illicit goods is rather easy, and it is a thorn in the eye of law enforcement agencies.

Source: Your Central Valley

We’ve seen some pretty solid patterns this week in the bitcoin price. The weekend action offered up a nice sharp movement – one that we managed to take advantage of and draw a quick profit from the market. We then noted that – as a hypothesis based on the consolidation we saw post-break – we could be in for another sharp move when markets finally picked up a directional bias. Again, we got this move during yesterday’s session, with a sharp downside break offering us another opportunity to pick up an entry based on the framework of our standard breakout strategy. Which brings us to today – and once again, we’ve seen some consolidation overnight.

A small, but short lived, downside break gave us something to consider just before market open today, but we stayed out of the markets and now have a nice range outlined – one from which we can look to get in and out if the consolidation/break pattern plays out again.

So, with this in mind, what are we looking to trade for today’s European morning session, and where does action suggest we should look to limit our risk and reward? Take a quick look at the chart below to get an idea of what we are watching.

Screen Shot 2016-03-30 at 10.32.35

As the chart shows, the day’s bitcoin price range is defined by in term support at 411.5, and in term resistance at 416 flat. It’s not quite a wide enough range to bring intrarange into play, so we’ll be sticking with just our breakout approach this morning.

As usual, an upside entry will signal when price breaks above in term resistance, and we’ll enter on the close towards an upside target of 422 flat. A stop on the trade at 414 flat defines risk.

Looking to the short side, a break below support will signal an entry towards 405, and a stop on this one somewhere in the region of 413.5 protects our downside.

Charts courtesy of Trading View

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Key Points

  • Bitcoin price found offers intraday, and as highlighted in yesterday’s post, the $425 resistance area acted as a perfect barrier for the bulls.
  • BTC/USD broke a crucial support trend line on the hourly chart (data feed from Bitstamp), which ignited sharp losses.
  • The price found support near $408 and currently attempting to regain the bullish bias.

Bitcoin price collapsed against the US Dollar, and broke a major support area. Can BTC/USD recover and regain bids moving ahead?

Bitcoin Price – 100 SMA as Resistance

Bitcoin price attempted to settle above the $425-426 yesterday, but failed to gain traction. I highlighted in yesterday’s post that the stated level is a major resistance area and it is not worth the risk. BTC moved down sharply versus USD, and the worst part was the fact that the price broke a crucial support trend line on the hourly chart (data feed from Bitstamp).

There was a sharp decline once the price closed below the trend line support area, as 100 hourly simple moving average was also positioned near it. The highlighted break may be crucial, as it might give a reason for the bears to take charge and attempt to take the price down once again.

Bitcoin Price Technical Analysis

If BTC/USD corrects higher, then it may find a monster resistance near a confluence area of the broken trend line, 100 hourly SMA and the 50% Fib retracement level of the last drop of the $426 low to $427 low. One may consider selling near the highlighted resistance zone, but only with a tight stop (an hourly close above the 100 SMA). On the downside, $407-405 may continue to act as a short-term support area.

Looking at the technical indicators:

Hourly MACD – The hourly MACD is in the bullish slope, which a signal of a minor upside may be towards the highlighted resistance area.

RSI (Relative Strength Index) – The RSI is well below the 50 levels, suggesting that the price is under a lot of pressure.

Intraday Support Level – $407

Intraday Resistance Level – $418-20


Charts from Bitstamp; hosted by Trading View

Bitcoin Price Key Highlights

  • Bitcoin price has been trending higher recently, moving above a rising channel on its 1-hour time frame.
  • Price is now testing the channel support near $410 and a bounce could take it back to the top at $430.
  • Technical indicators are suggesting that further gains are in the cards and that the uptrend could carry on.

Bitcoin price might be ready to resume its climb if more bulls come into action at this latest test of the rising channel support.

Technical Indicators Signals

bitcoin price, bitcoin trading, btcusd

The 100 SMA is still above the 200 SMA so the path of least resistance is to the upside, confirming that the channel support would hold. In addition, both RSI and stochastic are pointing up to show that bullish pressure is present.

Apart from that, the recent test of support led to the formation of a long-wicked candle, which means that buyers put up a strong fight to prevent the pair from falling further. A bit of consolidation took place soon after, which suggests that bulls and bears are still battling it out for now.

A bounce off the current levels could lead to a climb up to the resistance at $430, but a bit of hesitation might be seen at the near-term area of interest at $420. This is also in line with the dynamic resistance around the moving averages.

Meanwhile, a break below support could lead to a longer-term downtrend for bitcoin price, taking it down to the next area of interest at $380-400. Stronger selling pressure could eventually lead to a drop until $300.

Market Events

A few days back, the dollar gained support against bitcoin price when FOMC members shared some hawkish views. However, the US currency had to return these recent gains when Fed Chairperson Yellen remained cautious in saying that only gradual rate hikes are to be expected in the coming years. She also added that global economic and financial risks have increased.

A few more catalysts are lined up for dollar price action in the next few days, including leading jobs indicators and the NFP report on Friday. Strong data could reinforce dollar strength against bitcoin price, paving the way for a break lower, while weak results could lead to a rally and even a break past the channel resistance.

Analysts are expecting to see a 195K gain in hiring from the ADP report while the NFP reading could come in at 206K for March, lower than the previous 242K gain. Still, Fed Chairperson Yellen has acknowledged the strength in the jobs market and domestic spending, which are mainly the factors keeping the US economy afloat.

As always, risk sentiment could play a huge role in bitcoin price trends this week, and the upcoming release of Chinese PMI readings could affect this. A slightly faster pace of expansion in the manufacturing and non-manufacturing sectors are expected, and this could support the higher-yielding cryptocurrency.

Intraday support level – $410

Intraday resistance level – $430

Technical Indicators Settings:

  • 100 SMA and 200 SMA
  • RSI (14)
  • Stochastic (8, 3, 3)

Charts from Bitstamp, courtesy of TradingView

Key Highlights

  • Ethereum price managed to trade higher once again after a minor dip, but failed to clear the $11.80 resistance area.
  • There were a couple of attempts to break the stated level, but the bears managed to defend it successfully.
  • There is a bullish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which is almost broken and may clear the way for a slight decline.

Ethereum price successfully completed another wave higher. However, the price is struggling to clear $11.80. Can ETH/USD break it or will the price move down?

Ethereum Price – Short Term Downside?

Yesterday, I highlighted that a short term buying dips idea may work well. Ethereum price did move down a few points to provide an opportunity to enter a long, and then ETH moved back higher. However, the bulls failed to break the last high near $11.80, as it acted as a major barrier and prevented any further gains.

Currently, the price is attempting to break a bullish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD. If sellers succeed in closing the price below the trend line support area, then there is a chance of ETH moving towards the 38.2% Fib retracement level of the last move from the $10.10 low to $11.83 high.

Ethereum Price Technical Analysis

The $11.20-10 support area holds a lot of importance for ETH/USD in the short term, as the 100 hourly simple moving average is positioned near it. So, it you are planning to enter a short term sell, then your TP should be above $11.20 and SL near $11.90.

Hourly MACD – The MACD is in the bearish zone, and suggesting more losses in the near term.

Hourly RSI – The RSI has just moved below the 50 level, which is a warning sign for the bulls.

Intraday Support Level – $11.20

Intraday Resistance Level – $11.80


Charts courtesy of Kraken via Trading View