Bitcoin (BTC) Prices Explode after Fool’s Day with “Zero” Fundamentals - newsBTC

• Bitcoin prices uptick, up 22 percent
• Fundamentals and analyst signal buy

Mark Dow says Bitcoin (BTC) is buyable, and true to his word, it is. The coin is up 22 percent in the last week thanks to today’s upswing thrusting the asset above $4,500. With favorable candlestick arrangements, Bitcoin (BTC) will likely test $6,000 in short to medium term.

Bitcoin Price Analysis

Fundamentals

There is a transition and bulls are back. In 30 short minutes, Bitcoin (BTC) prices spiked to above $5,000 and, in the process, cleared $4,500, a significant resistance level. As it is, we expect this trend to continue, and there are supporting indicators. Not only are there humongous candlesticks in today’s hourly chart but major events indicate bullish sentiment. More analysts are joining the crypto buy train.

Case in point is Mark Dow, the former IMF economist who made money from the last Bitcoin rally of Q4 2017 and shorted the most valuable coin last year making upwards of $20 million. In his analysis, the economist recommends long, saying Bitcoin is “buyable” at current valuation.

Exiting his shorts, he said he’s “done and doesn’t to try to ride this (slide) to zero” and that “he doesn’t want to try to squeeze more out of the lemon.” At the moment, we cannot pinpoint the exact cause of this upswing but what we know is that there are sufficient volumes to sustain gains in short to medium term.

Candlestick Arrangement

From the chart, it’s back to green for the world’s most valuable coin. Driven by participation and even FOMO, BTC is up 15 percent in the last day and 22 percent in the previous week as prices trend above $4,500 or the 38.2 percent Fibonacci retracement level of Q4 2018 depreciation.

As it is, our BTC/USD trade plan is live after today’s close above Q1 2019, $1,300 draining accumulation. Therefore, because of today’s trade range, we expect a short pullback which traders should capitalize with first targets at $5,800–$6,000.

With the market lighted, it is likely that volumes will keep rising up and as demand increase so will BTC prices, and the first reasonable target for bulls will be the breakout level at $5,800—which is previous support now resistance.

Technical Indicator

Like before, our anchor bar is Feb 24, a bear bar with high volumes—36k. Since prices are up trading above $4,500 with high transaction volumes above 40k—at the time of writing, our trade conditions are , and both sets of traders can begin ramping up as aforementioned.

Chart courtesy of Trading View

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https://www.newsbtc.com/2019/04/02/bitcoin-btc-prices-explode-after-fools-day-with-zero-fundamentals/

2019-04-02 17:00:00Z
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Lyft is down more than 20% since its IPO — and could fall even more once short-sellers are allowed to pounce - Business Insider

Signage for Lyft is seen displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering (IPO) on the NASDAQ Stock Market in New YorkReuters

• Lyft's stock price has plunged more than 25% since it began trading last week. 
• That decline happened before short-sellers have been allowed to bet against the stock.
• As more shares are available for lending, more downward price pressure is expected by S3 Partners, a firm that tracks Wall Street short-interest data. 

Lyft's stock price has sputtered since the ride-hailing company began trading on Friday, and could stall even further when the IPO dust settles, a Wall Street data analytics firm is warning.

S3 Partners, which tracks short interest data, said in a report Monday that it expects further downward pressure on prices once shares are available for lending to short-sellers, or those investors betting a stock's price to decline.

"With IPO shares not settled yet and therefore not physically in stock lending programs, and SEC regulations prohibiting IPO underwriters from lending out their shares to cover short sales for 30 days only a small fraction of the 34 million shares traded so far today are the result from short sales," Ihor Dusaniwsky, managing director of predictive analytics at S3, said. 

Shares of Lyft began trading on the Nasdaq on Friday at $87 apiece before sinking into the red to end the week down 10%. Monday, the stock's first full day of trading, saw shares slide another 6.7% to $69 — and the sell-off continued overnight into Tuesday.

"When the LYFT IPO shares begin settling tomorrow and lending programs see their lendable inventories grow, over the next several days we should see a dramatic increase in stock lending, short sale approvals and LYFT short selling," Dusaniwsky said.

"We can expect further price weakness when the shorts are allowed to put the pedal to the metal and redline their trading strategies."

Options contracts, which allow retail investors to somewhat mimic professional investors' bets against a stock price, are also expected to launch on Thursday, Chicago-based Cboe Global Markets said in a press release on Monday. 

Wall Street analysts that have launched coverage of Lyft so far agree the stock is close to an appropriate valuation, with an average price target of $71, or roughly 4% above Tuesday's prices.

More on Lyft's IPO:

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https://www.businessinsider.com/lyft-stock-down-since-trading-began-set-to-fall-more-with-short-selling-s3-analytics-2019-4

2019-04-02 15:14:28Z
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Bitcoin storms higher, rises 20% and tops $5,000 for the first time in 2019 - MarketWatch

Bitcoin prices surged higher on Tuesday, rising as much as 20% at trading above $5,000 for the first time in since November 2018.

Bitcoin BTCUSD, +14.47%  was changing hands at $4,765.85 in recent action, up 14.9% since Monday’s level at 5 p.m. Eastern time. The cryptocurrency hit a session high at $5,061, a gain of 22.9% on the day.

The market value of all cryptocurrencies rose more than $15 billion in less than 90 minutes on Tuesday, according to data from CoinMarketCap.

Read: Bitcoin jumped as much as 20%: Here’s what experts are saying about the move

What are analysts saying

After months in the doldrums, bitcoin aficionados have awakened with several now calling the December 2018 low near $3,200 as a medium-term bottom.

“After being in bear territory there is a growing sense that bitcoin is back. I’m now calling that the market has bottomed and the so-called crypto winter has come to an end,” wrote Nigel Green, CEO of deVere Group, a U.K. consulting firm.

“I believe bitcoin will now move higher over the next few weeks and months, making steady gains for investors. As the largest cryptocurrency by market cap, this will have a positive impact on prices in the wider crypto sector,” Green wrote.

Bitcoin Cash explodes through $200

Bitcoin’s surge dragged altcoins, the group of coins other than bitcoin, higher. Ether, ETHUSD, +11.25%  the second-largest digital currency by market value rose 11% to $156.19, Litecoin LTCUSD, +18.38% added 18.2% to $71.10, Bitcoin Cash BCHUSD, +28.53% erupted, trading 30% higher to $216.20 and XRP XRPUSD, +9.13% was trading at 34 cents, up 9% on the day.

Bitcoin futures opened sharply higher on Tuesday. The Cboe April contract XBTJ9, +14.55%  gained 14.9% to $4,740 and the CME April contract BTCJ9, +14.79%  added 15.2% at $4,750.

Read: The crypto market is healthier than you probably think, so this chart says

Providing critical information for the U.S. trading day. Subscribe to MarketWatch's free Need to Know newsletter. Sign up here.

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https://www.marketwatch.com/story/bitcoin-storms-higher-rises-20-and-tops-5000-for-the-first-time-in-2019-2019-04-02

2019-04-02 16:52:00Z
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Amazon again slashes Whole Foods prices, doubles Prime member weekly deals - TechCrunch

Amazon-owned Whole Foods announced a third round of price cuts that will see the grocer discounting hundreds of items, offering an average savings of 20 percent. Produce is an area of specific focus in this wave of price cuts, with lowered prices on seasonal items including greens, tomatoes, tropical fruits, and more. In addition, Amazon will expand its Prime benefits offered to Whole Foods shoppers with a larger selection of weekly deals, the company says.

Lowering prices at Whole Foods was one of the first major changes Amazon introduced following its $13.7 billion acquisition of the grocery chain in 2017. Almost immediately, discounts were put into place ranging from 6 percent on the low-end to as much as nearly 30 percent, in some cases. Last year, Amazon also introduced 10 percent savings for Prime members shopping at Whole Foods across the U.S. – including for its delivery services, where available.

Through previous rounds of price cuts and Prime member deals, Whole Foods says customers have saved “hundreds of millions” of dollars since the chain’s merger with Amazon.

Today, the retailer says it will again lower prices storewide, with a focus on produce. Some of the new savings include large yellow mangoes for $1 each; mixed-medley cherry tomatoes for $3.49 per 12oz, and organic bunched rainbow chard at $1.99 each. The WSJ reports over 500 products have seen price cuts, and are the broadest cuts to date.

In addition, Whole Foods will double the number of exclusive weekly Prime Member deals and discounts.

Over the next few months, Prime members shopping the store will be able to take advantage of over 300 Prime member deals on the season’s most popular items, the company notes. This includes, in April, discounts on things like organic asparagus and strawberries, antibiotics-free chicken, sliced ham, wild-caught halibut, Justin’s brand products, prepared sandwiches and wraps, and more. Every week, up to 20 deals are available to Prime members.

In some cases, these new discounts for Prime shoppers as high as 35 to 40 percent.

Prime members also save the usual 10 percent on hundreds of other items, not discounted through weekly sales.

“When Whole Foods Market joined the Amazon family, we set out to make healthy and organic food more accessible. Over the last year, we’ve been working together tirelessly to pass on savings to customers,” said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a statement about the new cuts. “Every time a customer walks into a Whole Foods Market, they expect and trust industry-leading quality standards across aisles. And now they will experience that same Whole Foods Market quality with even more savings across departments.”

To kick off the new price cuts and encourage foot traffic in-store, customers who try Prime will get $10 off their $20 purchase for signing up for a membership. Membership includes Whole Foods’ weekly deals, free grocery pickup, free grocery delivery on orders over $35, Alexa shopping, and all the other Prime perks on Amazon.com.

The move to cut prices comes at a time when Walmart and Amazon are battling for grocery customers, with the former leveraging its existing brick-and-mortar footprint for free pickups, as well as its reputation as a low price leader. Unlike grocery delivery services such as Instacart or Target’s Shipt, Walmart’s groceries cost the same to pickup or deliver as they are in-store. (Target is now offering the same deal on Shipt, but only for Target items – not those delivered by other stores, which are still marked up.)

Walmart is also countering Amazon Alexa’s shopping features through a deal with Google, which now offers voice-activated shopping through Google Assistant, announced today.

To cater to grocery shoppers, Amazon is leaning more on its Prime membership program to entice customers used to the convenience of near-instant gratification and fast delivery. Whole Foods Market groceries ordered through Prime Now can arrive in 2 hours in over 60 metros, with more cities on the way. And grocery pickup is offered in 30 minutes at some Whole Foods locations.

Whole Foods isn’t Amazon’s only angle on food shopping: Amazon is also reportedly looking into retail space to open its own U.S. grocery chain separate from Whole Foods, and runs a handful of cashierless Amazon Go convenience stores.

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https://techcrunch.com/2019/04/02/amazon-again-slashes-whole-foods-prices-doubles-prime-member-weekly-deals/

2019-04-02 13:51:41Z
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Bitcoin Price Pounds Toward 5-Month High – Here’s Why $6,000 is Next - CCN

The bitcoin price finally broke above an extended resistance channel to establish a new yearly high above the psychologically-significant $5,000 mark.

Coinbase data shows that BTC/USD spiked during the early Asian trading session, surging almost 23 percent in just two hours to $5,120. The rally accompanied substantial volume, confirming a positive breakout scenario for the cryptocurrency. It also negated some portion of the losses caused by the notorious bitcoin cash hard fork, which prompted the previous crash in November last year.

BITCOIN PRICE JUMPS UP TO 23-PERCENT | SOURCE: COINMARKETCAP.COM

On the technical front, the latest crypto market rally pulled bitcoin out of an overlong long bearish stretch below $4,414. It further rattled three strong bearish indicators, as discussed in our previous analysis, that had prevented the cryptocurrency from extending its upside momentum since November.

As of 12:25 UTC, the bitcoin price was trading at $4,794, down 6.07 percent from its intraday high. At the same time, bitcoin’s market capitalization had surged from $73.85 billion to $84.21 billion.

The Bullish Case for a $6,000 Bitcoin Price

There is no denying that the ongoing crypto market surge is almost too sudden. But unlike altcoins, a price rally in the bitcoin market is historically more durable from an intraday perspective. The jump has certainly brought $6,000 back in the conversation of bitcoin bulls.

The level supported the cryptocurrency on multiple downside attempts until the November capitulation broke it. The fact that bitcoin came hundreds of dollars closer to $6,000 could influence traders to keep one eye open towards it.

That’s pure fundamental talk. Let’s check the technical.

BITCOIN PRICE TESTING WEEKLY RSI TARGET | SOURCE: TRADINGVIEW.COM, COINBASE

Bitcoin’s Relative Strength Index (RSI) on the weekly chart is finally attempting to push above a crucial borderline at 53.85. Historically, the bitcoin market stayed on a bullish path when its weekly RSI was above 53.85. The early 2018 price action brought the RSI level below the said figure. With it, the bitcoin price also entered one of its most extended bearish periods. It is the first time since February 2018 the RSI has touched 53.85.

A little above the RSI, one can also notice the 50-period EMA. The blue curve appears to be the only considerable resistance level as bitcoin price extends its uptrend. Interestingly, breaking above the 50-period EMA will also push the RSI above 53.85 – towards an area that has not known any strong resistance in recent times. That’s one part of the bullish perspective that explains how the cryptocurrency could reclaim $6,000.

Conversely, the bitcoin price could pull back from the 50-period EMA and find support towards the rising trendline in blue.

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https://www.ccn.com/bitcoin-price-pounds-toward-5-month-high-heres-why-6000-is-next

2019-04-02 15:11:00Z
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Walgreens shares slide as drugstore chain misses earnings estimates, lowers 2019 forecast - CNBC

Walgreens Boots Alliance reported quarterly earnings and revenue that missed analysts' expectations and lowered its forecast for 2019 in what CEO Stefano Pessina called the "most difficult" quarter since acquiring European drugstore chain Alliance Boots in late 2014.

The company now expects full-year earnings for 2019 to be roughly flat, compared with its previous forecast of 7 to 12 percent growth, it said Tuesday. The company also said it would cut more than $1.5 billion in costs by fiscal 2022, up from the $1 billion it announced last quarter.

"A number of the trends we had been expecting and preparing for impacted us significantly more quickly than we had anticipated," Pessina told analysts on a call to discuss Walgreens' performance during the second quarter of fiscal 2019, which ended Feb. 28.

Walgreens' shares slid by more than 12 percent, on pace for their worst day since Aug. 6, 2014, when they lost 14.3 percent after earnings.

For more on investing in health care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.

Walgreens reported adjusted earnings of $1.64 per share during the quarter, missing analysts' estimates of $1.72 per share, according to data compiled by Refinitiv. Revenue also fell short, coming in at $34.53 billion. Analysts had been looking for $34.56 billion.

It generated $1.16 billion in net income, or $1.24 per share, down from $1.35 billion, or $1.36 per share a year earlier.

On an adjusted basis, which excluded foreign currency fluctuations and a few other items, Walgreens said it earned $1.64 per share, below the $1.72 per share analysts were expecting.

Generic drug prices declined and pharmacy benefit managers paid Walgreens less, weighing on the pharmacy chain in the quarter, Pessina said. Walgreens also faced "consumer market challenges" in the U.S. and the U.K., he said.

Same-store sales declined 3.8 percent, which Walgreens said was primarily because of a weak cough, cold and flu season compared to the previous year. Walgreens is working with LabCorp, Humana, Sprint and others on everything from offering senior care services to selling phones in their stores.

Co-Chief Operating Officer Alex Gourlay told analysts Walgreens is "pleased" with the progress its making on its partnerships. He said the company is working closely with Kroger's executive team to "determine how best to unlock future growth and synergies." Walgreens paired up with the Kroger in October to sell groceries in some Walgreens stores and expanded the pilot in December.

Drugstores are also trying to diversify their products and experiment with new ways to get people into their stores. Walgreens last week said it will sell CBD products in about 1,500 of its stores, following CVS. Rival CVS is changing up its business model after buying health insurer Aetna for $70 billion late last year.

Pessina on Tuesday said Walgreens still isn't interested in pursuing any deals right now.

"We are constantly reviewing a certain number of companies," he said. "Don't ask me the names I cannot give you the names, but of course, until now, we have not found the right numbers to do a combination with these companies."

Executives tried to ease concerns that it would cut costs too much and starve the business. Chief Financial Officer James Kehoe said Walgreens will invest about $1 billion over the next three years between operating expenses and capital.

"Approximately 80 percent is operating expense, so think about it for a minute. In one year, we'll be putting in $300 million to boost the partnerships and to boost our capabilities on digitalization of the company, so we're not going through the business for the sake of hitting cost cutting," he said.

Executives from Walgreens and rival CVS Health have warned investors in recent months that profits might not be all that fat this year. The Trump administration has been pressuring drugmakers and pharmacy benefits managers to lower consumer prices, both of which may cut into the bottom line for drugstore chains.

While analysts were expecting a bad quarter, they weren't prepared for it to be as bad as it was and for Walgreens to fall short in so many different areas.

"The magnitude was significantly worse," Jefferies analyst Brian Tanquilut told CNBC.

Walgreens also bought back more than $2 billion of its own stock in the quarter, bringing its total stock buybacks for fiscal 2019 to $3.11 billion so far, he noted. The company repurchased $5.23 billion of its shares all of fiscal 2018, according to the company's financial statement. Stock buybacks can make the company's profits look better because there are fewer shares outstanding, thus boosting earnings per share.

Evercore analyst Ross Muken in a note to clients said "this was truly a terrible print, as most metrics missed materially." This is the first time Pessina has missed quarterly guidance since he was named CEO in July 2015, he added.

CORRECTION: This story was updated to correct the company's adjusted earnings estimate. It was $1.72 a share.

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2019-04-02 14:31:51Z
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Amazon, Whole Foods slashing prices on hundreds of products - WJW FOX 8 News Cleveland

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1. Amazon, Whole Foods slashing prices on hundreds of products  WJW FOX 8 News Cleveland
2. Amazon announces Whole Foods price cuts for more than 500 products  Fox Business
3. Whole Foods will slash prices on hundreds of items starting Wednesday  CNBC
4. Amazon and Whole Foods are cutting prices again  CNN
5. Whole Foods to slash prices on hundreds of items starting Wednesday  New York Post
6. View full coverage on Google News

https://fox8.com/2019/04/02/amazon-whole-foods-slashing-prices-on-hundreds-of-products/

2019-04-02 12:49:00Z
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