Bitcoin is showing signs of exhaustion. Yesterday I said it looked like price may test the $8,400 support. Bitcoin did break down to $8,425, where buyers stepped in to push it back above $8,600.
I apologize for the lack of text…I’m Running out the door. Here are my quick thoughts on where price my be heading next. I hope you find helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you
On 4hr chart, again any sign of little selling looks like an opportunity for fomo buyer to enter. Sellers still reluctant to sell big yet. Still possible to 8300 zone around middle of channel. Likely to retest channel top as stoch doing lower low and price doing higher low.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :123
Total marketcap :275
Dominance :56
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :
Just looked at the CMC a few mins ago to see Bitcoin Fake i.e. BSV up 50%. Ive shared my opinion on these shitcoins many times so bashing BSV again is pointless. I was curious as to why it went up so much so i went on browsing.
Apparently someone shared some fake news about Bitcoin Fake on Wechat. The message said that Binance was listing BSV again which was ofc not true. Almost instantly BSV went up 65%.
On Steem we are having big debates about curation split, bots, parasitic psychopaths as if that will somehow affect the price. But does it really? All those things seem to only affect who gets more inflation and ends up with more Steem in the end. The authors or the big stake holders.
So it seems that all you need to do to moon STEEM is plant some news about STEEM being listed on a major exchange…. All you need is a screenshot to fix all our problems. Imagine that! Instead of thousands of pages of debates you could fix everything with a well placed screenshot carrying fake news.
It’s hard to bet against Elon. Elon is a serial entrepreneur who has beaten all the odds and at times he works 120-hour work weeks and doesn’t leave the Tesla factory for days at a time. Not even the odds, but the timing of events are really Elon and Tesla at this time.
Bad news continued to mount for Tesla (TSLA) Tuesday as Morgan Stanley outlined a worst-case scenario that calculates a potential 95% swoon in Tesla stock while the company’s short sellers are in position to see a highly profitable month of May.Morgan Stanley analyst Adam Jonas slashed his low-end
…again on Author and Curation STEEM POWER REWARDS for the month of May!!!
Who was going to say to me one year ago that just by curation I would get close 30 Steem Power a month or more than 270 SP in rewards?
There is something extremely good for all the steemians still active here nowadays and it is the fact that it will be very difficult to have a better chance to increase the STEEM POWER of our account in the future as we are doing right now…
Not only because the price of STEEM is very low but also because anyone of us who keep posting, commenting and upvoting have more opportunities now of getting stake of the Rewarding Pool.
We are around 5000 daily Active steemians currently, and according to Steem.supply from @dragosroua there are 886,124 STEEM to be distributed among us:
I am very conscious on the fact that part of the reason why I am constantly breaking my All Time Record on Rewards is due to the diminution of the active members… but I am also conscious that it has brought to me the chance to further interact and engage with many actors here, enhancing my engagement and Steem network so, perhaps, I think I am not doing it so bad at the end…
Anyway, I am keeping this graph as a guide, the Gartner Hype cycle:
I think we are exactly at the “Trough of Disillusionment” . We have passed for all the stages”This is exactly the moment on which we don’t have to be distracted by the backlash of negative chatter at this stage of the hype cycle. This is our chance to race ahead of competitors who are pulling back from their missed results against earlier, unrealistic expectations.” (read more here).
We still are at an EARLY MARKET, I do not know if we touched already that CHASM which separates us from the MAINSTREAM MARKET (MASS ADOPTION) , but we are going towards there and when we reach that point it would be better for us to be prepared.
I last talked about Abercrombie And Fitch three months ago, when they reported their last quarterly earnings and the charts suggested two shorting opportunities.
Abercrombie And Fitch…Setting Up For A Short
Despite a 20% move higher, I think A&F is getting close to levels for shorting the stock, but that’s just my bias, lets go to the charts. The chart suggests to short price at the daily supply at $27.50, but the better level is at $30.50.
Shares of Abercrombie & Fitch tanked Wednesday morning after the teen apparel retailer reported weaker-than-expected same-store sales growth and said it plans to close three more of its
The Commitments of Traders (COT) is a weekly market report issued by the Commodity Futures Trading Commission (CFTC) listing the positions held by commercial traders and the “Smart Money”, the hedge funds and bank institutions in various futures markets in the United States. Since the COT measures the net long and short positions held by speculative traders and commercial traders, it is a great resource to gauge sentiment in the Markets.
On Tuesday, the 10-year bond yield fell to a 19-month low of 2.264% due to the growing concern that the U.S.-China trade war will last longer than anticipated with prolong
The number of wallets holding between 1,000 and 10,000 bitcoin (BTC) has seen a sharp increase since the crypto market bottomed this winter, indicating significant accumulation during the price dip. The analysis was published in a new report from weekly crypto outlet Diar on May 28.
Diar’s analysis begins by comparing bitcoin’s distribution landscape today with data from August 2018, when the top coin was last trading in a circa $8,000 price range. The analysis focuses on so-called “Firm Size” bitcoin wallet addresses — defined as those holding between 1,000 and 10,000 BTC — and notes that such addresses now own over 26% of circulating supply, or $36 billion worth of BTC.
JPMorgan Chase’s blockchain team has developed a privacy feature for ethereum-based blockchains, obscuring not only how much money is being sent but who is sending it.
Revealed exclusively to CoinDesk, JPMorgan has built an extension to the Zether protocol, a fully decentralized, cryptographic protocol for confidential payments, compatible with ethereum and other smart contract platforms and designed to add a further layer of anonymity to transactions. The New York-based financial institution will open-source the extension Tuesday, and is likely to use it with Quorum, the bank’s homegrown, private version of ethereum.
Zether, which was built by a group of academics and financial technology researchers including Dan Boneh from Stanford University, uses zero-knowledge proofs (ZKPs), a branch of mathematics which allows one party to prove knowledge of some secret value or information without conveying any detail about that secret.
Facebook’s payment-focused cryptocurrency Globalcoin will face demographic challenges, according to recent research by cryptocurrency analysis firm Diar published on May 28.
Facebook’s native cryptocurrency — which will purportedly seek to disrupt or bypass banking networks in order to remove financial barriers and lessen consumer costs — will reportedly launch in 2020.
In its recent report, Diar suggests that the coin will face demographic challenges as the social media giant’s user base is aging.
“What the heck! It’s a food fight on here. [Bitcoin developer] Matt Corallo is mad at Blockstream. Ragnar and Giacomo Zucco clubbing people left and right. Wat is going on!?”
This text from a bitcoin enthusiast friend aptly described the confusion on social media platform Twitter in recent days, when leading members of the bitcoin developer and startup ecosystem have been fighting over bitcoin’s “culture” and whether it needs to be changed or improved.
The root of the debate: Does bitcoin have a culture problem? Is there too much “toxicity”? And yet, as Twitter is a free-for-all, there were all sorts of sub-parts to the debate, centering on other questions: Is bitcoin inclusive enough? Why is Twitter so harsh? And what, exactly is bitcoin culture?
**“Bitcoin industry culture is therefore *necessarily* one of extreme skepticism, cynicism, rigorous review, and forthright language,” Woodfine tweeted, adding:**
“If you’re unhappy with bitcoin culture, sorry, you’re the problem. Bitcoin is better off without you—you’re not cut out for the challenges ahead. You’re not good under pressure, you’re too sensitive, and you lack conviction.”
As the G20 summit approaches, member countries have been discussing how to implement the standards set by intergovernmental organizations such as the Financial Action Task Force. While there may be some challenges in complying with the standards, the European Central Bank says the risks crypto assets pose to the euro area’s financial stability are manageable.
The FATF held its annual Private Sector Consultative Forum in Austria earlier this month with its members and over 300 representatives from the private sector participating. Members of the FATF are 36 countries and two international organizations including the European Commission. The FATF explained:
“The discussions focused on the mapping of virtual asset services and business models … and on the implementation of specific FATF recommendations.”
Since the break of the resistance line at 0.39$, the resistance around 0.43$ is blocking us. We can see clearly that it is the blocking zone at this moment but any UP move on the BTC should help us to break also that one. So let’s be patient because as I was saying to one of my readers, we are not anymore in the top 30 so sometimes, we have to wait that the moves on the BTC impact the TOP30 to have our turn with little delay.
Themis (Huobi: GETBTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Themis began a wave one advance on February 21. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 5, and the red wave two (blue sub-waves a-b-c) correction ended on April 27. If this wave count is correct, Themis should be heading next towards the April 5 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Themis is a blockchain-based fair exchange system for digital currencies, providing a decentralised escrow service for digital currencies. You can read
Last Thursday alone, oil fell 6% and ended the week 7% down, it’s worst weekly lost in 2019. But one has to keep things in perspective, oil is still up almost 30% year to date.
The combination of a perceived global economic slowdown, higher levels of US oil storage, and rumors of a possible de-escalation of the Iran-US crisis are mitigating the clear and present danger in oil and gas markets When looking at crude oil markets, the situation on the ground is a clearly pro-OPEC. The speculation about a possible end to the OPEC+ production cuts is largely unfounded. US
