After quite the move over the past week the best thing we could see from Bitcoin is some consolidation and even some backing and filling would be fine.
Digestion is a Positive
Price get away a little and become overbought so if it can bounce around the 8,800 to 9,200 level for a few days it would be healthy and let the 10 period moving average catchup, which is what I like to use for a short-term gauge of over extension.
As you can see in the chart the 10 period has been left far behind and if you look back price always
Excellent week in general for the crypto market, more in particular for BITCOIN with 15% up in a week and ZCASH which is now up 37% in the 7 Days time frame, absolutely outstanding also…People sat that possibly institutions are bringing new money, which I hope it is happening, also the hype FACEBOOK LIBRA coin may affect as well despite is too early…However, I always look at the Total crypto Market chart as a whole and what I see now is that, even if we are going up day by day lately, some consolidation period is more likely to happen
RCN seen from the temporality of 1W we can see how the price is in range zone with a prolonged trend since April with offer against the resistance located in the 605, the price has not achieved support this level so it has continued to fall with a small take profit around 500, in this perspective the price has to keep going down, the next support is located at 256, I have also placed a lower support based on the fibonacci tool and drawn the possible trajectory that could follow the price to continue going down, waiting for a pullback
Russia joined a growing pack of emerging-market nations lowering interest rates and signaled more reductions to come, boosting bonds and the ruble and leaving traders to guess the timing of its next cut.The first reduction in more than a year had been expected and strategists said Bank of Russia’s dovish tone was justified given weak growth and slowing in inflation, meaning further cuts wouldn’t hurt the world’s best-performing currency this year. With the Federal Reserve predicted to lower rates in the U.S., Russia’s carry-trade appeal should endure, ensuring further flows into the nation’s bonds.Piotr Matys, currency strategist at Rabobank in
On 4hr chart, possible double top, heading to test 8800 support zone which is also about the MA support. Let’s see if it bounce off, if not its heading to 8200 again.
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Short term moving average (day candle) :
Network Value to Transactions Ratio :
Total marketcap :
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :
Given the negative impact the U.S. trade war with China has had on the broad Chinese equity market, Macau casino stocks have held up relatively well so far in 2019. Unfortunately, some gaming insiders are anticipating that luck will change in the second half of the year.Andrew Lo Kai Bong, executive director at Suncity Group Holdings, said Friday Macau gross gaming revenue could begin to fall in the second half of the year as trade war uncertainty and slowing growth in China weighs on appetite for gambling.In addition to the trade war, Lo said events such as Macau’s 20th anniversary
I’ve never kept my feelings towards the various cryptocurrencies a secret, but I’ve also never summed them up and put them down in one easily accessible place before. While I would love to review 1000 of them for you, that’s rather infeasible, instead I have elected to use the CoinMarketCap list of top 20 coins by market cap.
This isn’t an in-depth review, it’s just to let you know what I, The Mighty Bit Brain – keeper of arcane crypto knowledge and wisdom, think of the main cryptocurrencies currently dominating the market.