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Crypto Industry News:
The cryptocurrency exchange Kraken adds support for the latest fiat asset, the Swiss franc.
According to a post on the stock market blog, Kraken said that in cooperation with the bank Frick from Liechtenstein, the Swiss franc will join the list of other fiat exchange currencies already supported by Kraken, namely the US dollar, Canadian dollar, euro, pound sterling and Japanese yen.
The Kraken team also revealed that trading the Swiss franc will start today, December 6, and that the stock exchange will introduce trading pairs between the Swiss franc and Bitcoin and Ethereum, with the future option of adding more trading pairs.
Kraken, one of the largest and oldest Bitcoin exchanges in the world, recently announced that it is joining the Silvergate Exchange Network (SEN) to allow its customers to deposit and withdraw US dollars from Silvergate accounts without fees.
Earlier, Kraken introduced the mobile version of its Kraken Future commercial application, which was created earlier this year and previously was only available in a web browser. The application will be available on iOS and Android platforms.
Technical Market Overview:
The ETH/USD pair has broken above the short-term trendline during the weekend and made a local high at the level of $150.96. Currently, the market is coming off the highs and is testing the weekly pivot around the level of $148.38. From a wider perspective, the market is still trading inside of a narrow range located between the levels of $151.37 - $142.24 and the market participants are waiting for a breakout from this range.
Weekly Pivot Points:
WR3 - $162.22
WR2 - $157.56
WR1 - $153.69
Weekly Pivot - $148.38
WS1 - $144.67
WS2 - $138.97
WS3 - $135.22
Trading recommendations:
The best strategy in the current market conditions is to trade with the larger timeframe trend, which is down. All the shorter timeframe moves are still being treated as a counter-trend correction inside of the downtrend. When the wave 2 corrective cycles are completed, the market might will ready for another wave up.
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