Bitcoin has stalled, currently trading around $8,670. Looking at the weekly chart, it looks like price may test $8,400. If it does, bulls need to see this prior area of resistance start acting as support. Volume remains relatively strong at $25 billion.
We’re continuing to see bearish divergence on both the daily RSI and MACD.
Regardless of short term price action, long term looks very bullish. The 21 week EMA has now crossed above the 55 week EMA.
In today’s video I analyze Bitcoin, EOS, LTC, BNB, BAT, ETH and XRP. We’ll discuss where prices may be heading next, traps to avoid, key
The Dow Jones Industrial Average has declined for the fifth consecutive week, its longest such losing streak since 2011.
Specifically, the last time the Dow suffered a five-week losing streak was in June 2011, nearly eight years ago. After that, the index dropped another 7.5% in the subsequent three months, per data from Schaeffer’s Senior Quantitative Analyst Rocky White.
During the current losing streak, the Dow has surrendered less than 5%. Since 1900, there have been just eight similar streaks, after which the blue-chip barometer also experienced weaker-than-usual price action.
Almost any way you slice it, five-week losing streaks tend to precede weaker-than-usual
On 4hr chart, there’s till fomo buyers and sellers are less reluctant to sell big. Likely to push for 9600 zone and maybe the big round number 10k. Would be good to have a healthy pullback before testing the 10k though.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :123
Total marketcap :272
Dominance :56.8
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :
Hormel Foods fell almost 7% on Thursday, the single largest daily decline in almost two years after announcing a decline in sales and profits due to the African swine fever. Analysts forecast the loss of some 150 million to 200 million pigs this year, affecting about 5% of the global protein supply.
Source Image
Revenue will probably not surpass $10 billion and earnings per share will reach $1.85 at the most this fiscal year, the maker of Spam canned meat and Skippy peanut butter said in a statement, down from earlier peak estimates of $10.2 billion and $1.91 a share.The company will
SaluS (Bittrex: SLSUSD) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, SaluS began a wave one advance in January 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in December 2017, and the red wave two (blue sub-waves a-b-c) correction ended in March this year. If this wave count is correct, SaluS should be heading next towards the December 2017 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Main goal and objective for Salus project is to give it’s members that extra edge when it comes to trading
China updated its cryptocurrency rankings on May 23 — with eos retaining the top spot and bitcoin moving up three places. The government-sponsored index assessed each blockchain on three criteria: technology, application and innovation.
Despite its dominance in the crypto industry overall, Bitcoin was in 12th place. While it scored well for creativity, it placed behind EOS in the score for basic technology.
XRP is teasing a long-term bullish reversal, with a surge in price and a bullish chart pattern likely to occur next week. The world’s third largest cryptocurrency by market capitalization is currently trading at $0.413 on Bitfinex, representing a 27 percent gain on the opening price of $0.3249 seen May 1.
If prices stay above the current level till May 31, the resulting monthly gain would be the biggest since September 2018. Back then, the cryptocurrency had rallied 73 percent from $0.3350 to $0.5820.
The rally seen this month appears modest in front of the stellar gains registered in September 2018. The cryptocurrency, however, may produce much bigger gains in the following months as a widely tracked long-term technical indicator is about to turn bullish.
A cryptographic solution called zero-knowledge proofs (ZKP) could help notoriously slow decentralized exchanges (DEXs) reach speeds comparable to more traditional platforms.
San Francisco-based DEX startup 0x is partnering with the Israeli software-as-service company StarkWare to test a ZKP solution called StarkDEX, which can process roughly 500 transactions per second.
StarkWare CEO Uri Kolodny told CoinDesk the goal is clear: “Non-custodial trading at scale.”
Speaking to how ZKPs could be implemented in the 0x DEX ecosystem, 0x marketing lead Matt Taylor told CoinDesk: “Our goal is that by the end of this year we’ll have this in production, on mainnet, so that people can actually use this technology. … We intend to have this be a core part of the 0x DEX stack.”
In the relentless cat-and-mouse game between regulators and cryptocurrency developers, the cats are about to add some serious firepower – this time in the form of a global alliance.
But if you think the intergovernmental Financial Action Task Force’s forthcoming know-your-customer (KYC) compliance standards spell the end for the mice, think again. If anything, the FATF’s move, expected to be released next month, will drive developers to accelerate work on non-custodial exchanges and other tools that will make it easier for end-users to transact directly outside of regulated intermediaries.
As CoinDesk managing editor Marc Hochstein explained last week , the new rules are likely to require exchanges and other custodial entities that take custody of their customers’ cryptocurrency to obtain identifying information about both parties before allowing a transaction over their platforms.
UOnline cryptocurrencypaper wallet creator WalletGenerator.net previously ran on code that caused private key/public key pairs to be issued to multiple users. The vulnerability was described in an official blog post by security research Harry Denley of MyCrypto on May 24.
According to the post, the bad code was in effect by August 2018, and was only recently patched out as of May 23. The live code on the website is reportedly supposed to be open source and audited on GitHub, but there were differences detected between the two. After researching the live code, Denley concluded that the keys were deterministically generated on the live version of the website, not randomly.
“Our co-founder Mo, @no89thkey will host an AMA on Tuesday, 5/28, 8:00-8:30PM (PST). ”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
It is done now, the resistance line at 0.39$ is now broken. As you can see on the chart, we are now blocked by the resistance line at 0.43$ but I think that this resistance could be broken much more easier than 0.39$ which was a big resistance line since weeks now. We are having a little consolidation now but we could try to break that resistance line at 0.43$ very soon.
This has been put together light-heartedly (yet I mean every word) and yes I’ve done every one of these things (often many times).
Check your portfolio daily. That’s what a day trader does? Are you a trader who thinks they are an investor? Buy on a daily pump.Sell on a daily dump.Sell one crypto after a dump and buy another crypto with those funds after it has pumped.Join a crypto cult and declare there will be only one.Join an ecumenical crypto cult and declare there will be only 5 or 6.Look down on folks who don’t yet ‘get’ crypto – teach
Bitcoin has printed 52 week highs. Huge steps for a bull case and bullish momentum. Crypto is here for the long run anyone telling you otherwise is trying to scare you out. This is not going to be a quick 90 day move. This is going to be a long grueling multi year bull that is going to change peoples lives. The adoption phase is getting closer and that is where the REAL bubble will be.
