Twitter is on the move this morning holding the $34 and moving into the resistance level of $35-35.50 for it seems like the 1000th time. A small pullback was needed to relieve some pressure but I am looking for the Tweeter bird to break through this level this week.
A strong open is some mega progress and I believe if the market holds in today we may get a good upswing t continue the now bullish trend. The pattern is there, we just need this baby to resolve higher. The longer it stays at the top end of this range,
If the S&P 500 is the
bellweather for the equity markets, JPMorgan Chase (JPM) is the bellweather for
the bank sector. JPMorgan Chase reported earnings on Friday and blew the results
out of the box. JPM earned $2.65 a share for the quarter versus expectations of
$2.35 a share. And revenue of $29.9 billion came in $1.5 billion ahead of
expectations.
The results were
supported by record revenue and net income. Investors have been concerned that
net interest margins would deteriorate since the US Feds said they would leave
interest rates along, but net interest income grew by 8% year over year.
This weekend I read through the latest World Silver Survey, published by The Silver Institute. For those unfamiliar with these reports, they are published on an annual basis and are very well written. At about 100 pages in length, the document is definitely not a quick read, but you can pick and choose areas of interest, it isn’t necessary to read every table and sub-heading. You can find all the World Silver Surveys (from 1950 to date) at https://www.silverinstitute.org/all-world-silver-surveys/.
For some years it has been noted that Silver is undervalued compared to Gold and is probably the better long-term investment. Indeed it
Elliot Waves count still valid and progressing towards the 6200 USD target.
Currently building what seems to be a 5-3-5 Zig-Zag correction in order to complete wave 4 as shown at the 4h Chart:
Red a-b-c correcting waves can be identified as 5-3-5 Zig Zag type using the 1Hour chart:
If this assumption is correct, we should see a drop towards the range of prices ranging between 4800 and 4600 USD on which I am laddering some buying orders.
That level of price would mean the completion of the 4th wave and the start of the upwards 5th towards the major resistance:
What matters is that 10 years after an unidentified software engineer created it, this decentralized system for recording sequences of transactions continues to do its job, block after block, with no authority in charge, no user able to alter past transactions, and no person or entity able to shut it down.
The more this goes on, the more it reinforces the powerful vision behind bitcoin: a peer-to-peer, disintermediated system for exchanging value around the world. And in that context, we can also think of bitcoin the cryptocurrency – differentiated from bitcoin the system – as a unique, provably scare digital asset that expresses the overall value in that vast potential.
Bitcoin is valuable because it exists
A point that’s lost on critics like Novak is that the longer bitcoin simply survives – in the face of the $90 billion valuation that stands as a de facto bounty for hackers to try to take it down, compromise its security or corrupt it – the more its overall value is confirmed.
Bitcoin is progressively proving itself to be an unstoppable, digital system of global exchange, one that functions outside of the traditional national government-mandated system of currency and banking. That status is what gives bitcoin its value.
Of course, the global impact of the bitcoin value exchange system, and therefore its worth to humanity, will be significantly enhanced if adoption advances to a much wider scale and it is used frequently in the world’s transactions. And, yes, a great deal of development work is still needed if it is to ever reach that point.
Samsung SDS has reportedly agreed to cooperate with Indian IT giant Tech Mahindra in an attempt to enter the overseas blockchain market, The Korea Times writes Sunday, April 14.
SDS, the systems integration arm of Korean tech behemoth Samsung, allegedly plans to expand the use of its Nexledger blockchain platform in India, the United States and Europe.
As per the agreement, the two companies will reportedly seek more business opportunities in the region. Moreover, Samsung SDS will cooperate with Tech Mahindra on further Nexledger updates.
In the latest edition of its research bulletins, the exchange’s dedicated analytics arm, Binance Research, investigated various current phenomena and trends within cryptocurrency markets.
Among them was correlation between Bitcoin and altcoin prices, data from 2014-2019 confirming that the 90 days to mid-March represented the longest period of high correlation in market history.
The United States Securities and Exchange Commission (SEC) reportedly required two funds to eliminate the word “blockchain” from their monikers, Bloomberg writes April 12, citing sources familiar with the matter.
The exchange-traded funds (ETFs) of both Amplify and Reality Shares reportedly mentioned blockchain in early filings. Per Bloomberg’s unarmed interlocutors, the two funds were encouraged to change their names at the last minute in 2018.
Despite eliminating the word “blockchain,” the funds’ tickers still refer to the technology. Ampilfy’s funds are traded as BLOK, while the product is described as “transformational data sharing ETF.” Reality Shares are using the title BLCN, depicting its product as “Nasdaq NexGen economy ETF.”
The International Monetary Fund (IMF) and the World Bank have jointly launched a private blockchain and a so-dubbed quasi-cryptocurrency, the Financial Times (FT) reports on April 12.
According to the newspaper, the asset called “Learning Coin” will be accessible only within the IMF and World Bank. The coin has no money value and thus is not a real cryptocurrency, the FT underlines.
As the FT has learned, “Learning Coin” was launched in order to better understand the technologies that underlie crypto assets. Its app will serve as a hub where blogs, research, videos and presentations are stored.
“… At 10:00 AM ET (2:00 PM GMT/UTC) Partners and Platinum Partners will have an exclusive opportunity to buy additional EFIN coins.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
We are currently sitting exactly on the support line at 0.43$ and we are in waiting mode I think, waiting to see in which direction the BTC will go. Let’s hope it will be a UP Break Out but no one can be sure of the direction. Let’s see what the market will decide and follow the trend, it is always the safest choice.
ChatCoin (Huobi: CHATBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, ChatCoin began a wave one advance on December 7, 2018. The red wave one finished on December 14, and the red wave two correction ended on December 21. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 6 this year, and the red wave four correction ended on April 11. If this wave count is correct, ChatCoin should be heading next towards the April 6 peak in the red wave five.
Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular. And in the foreign exchange market 90 of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the daily time frame chart.
The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are
Though it’s still a bit early, many coins look like they are bouncing off the support levels they pulled back to the past week.
Let’s take a quick look at a couple of them…
Litecoin Looking Orderly
Looking at the chart of litecoin in the daily timeframe you see it pulled back to the first level support target, which was the prior resistance.
This is a confirmation of the break and bodes well. However, I will feel alot better about it if price can push to the previous top at $100.
In the end – if it just consolidates sideways that would still be fine
I will be the first one to be honest about kissing the beginning parts of this rally back to all time highs (pending). I nailed the breakdown in Q4 2018. I nailed the low on Christmas Eve. I did not hit the Rip back to highs. Once the 200 day was taken back without a single down week, the Bears has fumbled and the bulls were in full control.
New highs are practically inevitable at this point. This V was a massive velocity move that was faster than the down move. I am expecting new highs this week in fact.
The Guppy Multiple Moving Average (GMMA), developed by Daryl Guppy, an Australian trader is a technical indicator that identifies changing trends. The GMMA combines two groups, a short-term and long-term set of moving averages with different time periods.
Another great feature of the GMMA is its ability to detect the strength of the trend. If the separation of the moving averages are wide, you typical have a strong trend.
If the separation of the moving averages, typically denotes a weak trend. Lastly, no trend is denoted by the moving averages being flat/horizontal.
Yesterday, I talked about article from Coindesk regarding the
