It sure feels like the Denial Rally but Tether/Bitfinex could be 2019’s Mt.Gox

Having suffered through a crypto-winter before this one, I feel it gives me some perspective. Technical analysis will get you so far, but I’ve learned that the market sentiment is a great indicator as well. From what I can tell the current market sentiment is very much along the lines of the ‘Denial stage’ of the market cycle. Still, with a Tether implosion looming on the horizon it makes one wonder if history really does rhyme..

Market sentiment

Judging when capitulation is over and the Denial/Hope rally starts is one of the hardest things when it comes to investing. By definition the

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BITCOIN – 30 Apr

On 4hr chart, making higher highs and higher lows, possible bear flag continuation ahead. NVT jump up again. Possible stoch price bear divergence too. Possible HS right shoulder in making, limited upside to 5400 zone with neckline around 5000 zone.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :135
Total marketcap :172
Dominance :54.5
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :

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Plagiarism! … or not?

Almost five years ago I participated together with my wife and my daughter on a competition called “The Family Run”. It consisted on a race among families on which, at that time, we finished the 2nds…

The thing is that now, they are organizing another one and they prepared all the advertisements and stuff in order to promote the event… the funny thing is that my wife found in one of the posters of the race someone familiar….

Yes! the guy of the right who is holding the hand of a child is MYSELF! I am famous!!!!

But, wait, this boy is not my daughter… and neither the lady is my wife!!!! WTF!!!

By one side is always good to see yourself in these kind of things… it is not the first time it happened to me, 3 years ago the organizers of Spanish Marathon Championship use my pic (FYI, which is the one of my profile…) in order to put it on the cover of their magazine… Frankly, I did not complaint at all…

But now, it is different, they modified my picture not only adding some effects but also removing my wife and daughter from the original…

I don’t remember if I signed anything regarding images rights there but… I think they should told me before, shouldn’t them?

@toofasteddie

Unusual Options Activity In Target

Amazon recently announcement of evolving their Prime free two-day shipping program to be a free one-day shipping program.  On the news, Target shares decline 5.7% on Friday.  On Monday, Target was upgraded by Barclays to overweight from equal-weight with a price target of $115, which represent a roughly 50% appreciation in the stock price.

“If we focus on the two categories TGT appears to have the most competitive advantages in , Apparel and Home Furnishings, we believe TGT has a minimum ~$140 billion sales opportunity for market share,” analyst Matthew McClintock wrote.This market expansion should help the company overcome the margin

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One Chart, One Indicator – BTC 30 April

I’m trying something new today: a single chart with a single indicator/drawing tool on it. In theory this should give a nice no-clutter perspective of a single even or time period. If is goes well I may consider making more posts like it.

The chart I have chosen is a relatively long-term Bitcoin chart. The tool I have chosen is a Fibonacci Retracement Level overlay. Let us see what we can learn from a single chart and a single drawing tool.

Today’s chart runs from mid-2017 to the end of April 2019. If you follow my TA posts you may know that

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Is the Pullback Over? Buy. $EOS

EOS has been one of the top 5 strongest (large) cryptocurrencies leading the bull rally off the lows in 2019. Being up big, it was obvious that a pullback and a refresher was going to happen. Now we are meausring and mapping the damage and where we might “stop going down” to continue the positive rally.

EOS has pulled back into the 4.50 range and is holding. If EOS were to hold here and continue rising this would be huge for the chart and price. EOS is now currently trading at 4.90 and rising. A move through 5.00 will set

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RW Baird Was Right About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions.

RW Baird analyst Tristan Gerra downgraded the stock to underperform from neutral with

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Crypto Contest April 30: All Sports

All Sports (Huobi: SOCBTC) has broken out of the wedge pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, All Sports began a wave one advance on December 20, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 10 this year, and the red wave two (blue sub-waves a-b-c) correction ended on April 26. If this wave count is correct, All Sports should be heading next towards the April 10 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

SOC is a digitally-encrypted virtual currency based on blockchain and smart contract technology that is

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🗞 Daily Crypto News, April, 30th💰

  • Want to Understand Bitfinex? Understand Mt. Gox  ;
  • Novogratz’s Galaxy Digital Crypto Fund Lost $272.7 Million in 2018 ;
  • Nasdaq Adding Index for XRP Cryptocurrency to Global Data Service ;
  • Fundstrat’s Tom Lee Predicts New All-Time Highs for Crypto by 2020;
  • ICE’s Bakkt Announces Acquisition of Digital Asset Custody Company ;
  • 📑 Daily Crypto Calendar, April, 30th💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Want to Understand Bitfinex? Understand Mt. Gox  

“History doesn’t repeat itself, but it often rhymes”


This quote is often attributed to Mark Twain. And while Bitfinex doesn’t exactly rhyme with Mt. Gox, there are several parallels in the stories of these two exchanges. People interested in understanding Bitfinex are well-served to understand what happened with Mt. Gox.


Bitfinex and Tether were investigated by the New York York Attorney General (NYAG). Here’s a synopsis for those unfamiliar with the story. Bitfinex is a cryptocurrency exchange, the owners of which also control Tether, issuer of the most popular stablecoin, known as tether or USDT. The NYAG accuses Bitfinex of losing over $800 million. It alleges the exchange tried to recoup those losses by dipping into the cash reserves of tether, the stablecoin its principals also control.


Indeed, those feelings would be quite valid. In the early days of crypto, one of the largest bitcoin exchanges, known as Mt. Gox, also got into significant trouble due primarily to its banking relationships. It got so bad that in February of 2014, Mt. Gox stopped all trading and filed for bankruptcy protection. At the time, it claimed to have lost 624,408 BTC.

🗞 Novogratz’s Galaxy Digital Crypto Fund Lost $272.7 Million in 2018

Galaxy Digital Holdings, the crypto merchant bank founded by former hedge fund manager Michael Novogratz, lost $97 million in the fourth quarter, according to financials disclosed Monday.


The net loss widened from $76.7 million in the third quarter and from about $100,000 a year earlier, according to the filing with Canadian securities regulators. (Last February, New York-based Galaxy bought a Canadian publicly traded company in a reverse takeover.)


For all of 2018, its first full year of operation, the company lost $272.7 million.


🗞 Nasdaq Adding Index for XRP Cryptocurrency to Global Data Service

A new proposal by Vitalik Buterin, the creator of ethereum, suggests he is considering increasing rewards for validators who would secure the operation of the next version of the world’s second-largest blockchain.


Ethereum 2.0 is by far the biggest upgrade on the horizon for the ethereum blockchain, today valued at $17.5 billion. Its broader goal is to erase ongoing bottlenecks to transaction throughput and significantly decrease costs on the network.

Rather than relying on a proof-of-work consensus protocol whereby miners compete to bundle together blocks of transactions and add them to the ever-growing chain, ethereum 2.0 will rely on a proof-of-stake consensus protocol whereby validators stake their own funds and attest to blocks and transactions being created on the network.

🗞 Fundstrat’s Tom Lee Predicts New All-Time Highs for Crypto by 2020

Fundstrat Global Advisors founder Tom Lee has predicted that cryptocurrency prices will hit new historic highs by 2020. Lee delivered his comments during an interview with CNBC on April 28.


In the interview, Lee forecasted that bitcoin (BTC) has not completed its upward movement and will likely reach new all-time highs around 2020 based on “11 signs that historically only take place in a bull market.” Lee thusly reiterated his previous prognosis made earlier this month, when he said that “a bull market is likely starting.”


Lee explained that three out of those 11 signs — blockchain, technical indicators and trading volumes — indicate that the crypto winter has seen its end. In January, Lee’s team observed that trading volumes on the blockchain turned positive at an annual rate, while the second sign popped up in April, when BTC closed above its 200-day moving average.

🗞 ICE’s Bakkt Announces Acquisition of Digital Asset Custody Company

Intercontinental Exchange (ICE)-lead institutional cryptocurrency trading platform Bakkt has аcquired a crypto custodian service, the firm announced on April 29.


In a blog post, Bakkt announced a number of new measures in its apparent effort to stimulate regulatory feedback, including the acquisition of Digital Asset Custody Company (DACC).


While DACC’s native support of 13 blockchains and 100+ assets is designed to “serve as an important accelerator,” the entire DACC team will also be joining Bakkt, as former Coinbase exec and new Bakkt COO Adam White wrote in the blog post on Monday.

📑 Daily Crypto Calendar, April, 30th💰

QSP audit network launch, as described in the whitepaper.

The QuarkChain Mainnet Singularity V1.0 launches at 08:00 (UTC).

“To secure the success of the token swap (scheduled to start in late April)….”

Release of main net, native tokens to be issued according to NEP5 ownership.


Stake your SOUL coins to receive KCAL tokens (Energy) daily.

The public testnet introduces a broader access test-network complete with improved Open Economic Framework.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

As suggested in my previous publication, my scenario was a test of the resistance line at 0.39$ and this has been done today but unfortunatly, we didn’t break that line and so we are dropping again. Howerver, the drop till now is not so powerfull so it let us a luck to be able to try to break again the resistance line. Let’s see what will happen in the coming hours.

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Last Updates

Join this new Free To Play on the STEEM Platform !

Two Minute Crypto – The King and the Rebel (Part 3 of 3)

Please click the link to listen to the 36th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Comments and critiques welcome.

                                                                     

External Podcast Links

https://www.podbean.com/media/share/pb-ue2mc-af3d80

or

    https://podcasts.apple.com/au/podcast/two-minute-crypto-the-king-and-the-rebel-part-3-of-3/id1441492450?i=1000436569455                                            

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