Quick Bitcoin Update and Answering Your Questions!

In today’s video I’ll discuss your questions and comments as well as give a quick update on Bitcoin. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) 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 safe and profitable trading.

Workin

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Feature Image By: Saul Gravy


Good News, Steemit programmatic sells are diminishing

as it was already recognized by @ellipowell on this amazing Steemit INC Financial Update , Steemit INC has been obliged to execute a monthly programmatic sell in order to cope with their costs while implementing powerful upgrades which are starting to bring high cuts on the expenses and good revenues coming from the ads.

She is talking about Monthly programmatic sells but in reality, they used to deposit hundreds of thousands of Steem in a weekly basis.

They still power down the same amount of steem, which is around 326000 steem a week but lately I have noticed that the amount withdrawn mainly to BINANCE and HUOBI exchanges is decreasing continuously as you can see in the picture below:

@gsr-io is one of the accounts used by @steemit in order to withdraw Steem to the exchanges.

I am curious to see @penguinpablo weekly post regarding the total amount of Liquid STeem stored at the exchanges… I think we should start to note an inflexion on the trend, hopefully starting to create some scarcity that would help the price of STEEM to get recovered earlier.

I would like to thank @elipowell and @steemit INC team for sharing the current situation of Steemit and I hope to read further updates on that regards more often since it can mitigate uncertainties and speculations.

I think steemit has started to work towards a more sustainable organisation, I really like the way the express the new vision and new objectives however I still haven’t read so many :-).

Steem on.

@toofasteddie

Bitcoin Bounces After Closing CME Gap! Was That the Bottom?

Bitcoin dropped just below our $10,000 target, closing the CME gap and bouncing nicely. It’s backed by a nice spike in daily volume.

Screen Shot 2019-07-02 at 1.00.34 PM.png
Screen Shot 2019-07-02 at 1.02.07 PM.png
Screen Shot 2019-07-02 at 1.12.43 PM.png

In today’s video I discuss where price may be heading next, key areas to watch, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) 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 safe and profitable trading.

Workin

If you found this post informative, please:

upvote.gif

Get paid for viewing ads and Support the Crypto Ecosystem with Brave Browser. Free download here:
https://brave.com/wor485

YouTube: https://www.youtube.com/c/workin2005
Twitter: https://twitter.com/workin2005
Facebook: https://www.facebook.com/Workin2005
Feature Image By: Saul Gravy

BITCOIN: Buy order at 9700 USD Filled…

…but still I think BTC can touch the 9400 USD support since there is still margin on the RSI to reach an oversold condition…

As I said yesterday, every drop of the market is now an opportunity for the accumulation during Bull Trends.

I have filled one of my Buy Orders at 9700 USD and it seems that BITCOIN found some support at 9660 USD, just a little below and above what I considered as the end of the A-B-C correction at 9400USD…

Volume on the 4h chart seems willing to recover also so the correction may be done, however it is not yet confirmed…

I would like to see the resistance of 11300 broken in order to get the final confirmation.

Enjoy!

@toofasteddie

Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

Bitcoin Gave Us the Pullback – Is it Now Attempting to Bounce?

A few days ago we looked at the weekly price chart of bitcoin and saw why it was a screaming sell and primed to pullback.  We’ve gotten a pullback to the first key level and price is showing some resilience now.

Seller Bounce or Reversal Toward Higher Levels?

Looking at the daily chart above you can see we have a reversal pattern in the workings.   Today’s candle needs to close above 10,500 for it to be valid, right about where price is at the time of this post.

That would give us the bullish-turn pattern I use for entry signals.  However, is the a new long-term entry or just a trade?

I say it is just a trade as nothing has changed on the weekly chart.  It is still extended from the 10 period average and this is the first candle after that nasty reversal candle that marked the end of last week.

Price has tested the 9,800 level I have mentioned in the past and is bouncing off of it.  Maybe that is the only test of it and we move higher, but I can’t help being a skeptic and thinking it will test it again, especially with 10K being such a psychological number.

See below..

Conclusion

With all that said I’m staying nimble and will enter long for trades only for the time being.  If this daily candle gives what we want I will take a shot.

Chainlink And The “Coinbase Effect”

The “Coinbase effect,” where a cryptocurrency’s price surges after its listing is announced on Coinbase, is alive and well for Chainlink. The altcoin highly lauded by speculators surged 117.2 percent three days after its first listing on Coinbase Pro.

The coin saw a 16.3 percent increase 8 hours after its listing on Coinbase Pro, and experienced a 23.5 percent surge 12 hours afterward. Following LINK’s listing on the Coinbase retail platform, the coin surged 34.1 percent; 12 hours following the retail listing it saw a 62.8 percent cumulative jump.

Since the phenomenon was first observed, some sources reported that the Coinbase effect was diminishing. The diminishing impact on price could be attributed to Coinbase’s looser standards for adding digital assets or greater access to reliable exchanges.

Source

ChainLink is a platform which attempts to bridge the gap between smart contracts on the blockchain and real-world applications, which often tend to be off the blockchain. The cryptocurrency uses “oracles”, which find and verify real-world data and bring it on-chain to be integrated into smart contracts.

Regarding the recent surge in price, what I’m personally anticipating is a traders taking profits and price pulling back.  A very nice entry to go long would be below the $2 level which would represent a 61.8% retracement.  However, the ideal level to go long is at the daily demand at $1.14.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

Can Nvidia Get Back To $200 This Year???

Nvidia (NVDA – Get Report) has been going through a volatile time over the last nine months. Can the company find some better rhythm in the second half and help give its stock a boost?

Long-time investors are hopeful that it can. Monday’s price action helps, with news of a de-escalating trade war giving investors hope that a deal can be reached in the future.

These gains come on the first trading day of the second half of 2019, giving the stock a good start to the third quarter. Nvidia stock is up about 3% to $167 on the day, although it was up more than 5% at one point in morning trade.

While analysts expect a year-over-year decline for both earnings and revenue this year, investors will be focusing to see whether growth is on track to return next year. That will have a big impact on whether the stock can get back above and stay above $200, or if the lows may be probed once more.

Source

Backing October, price broke the upward trend line.

Major weekly zones are far from price currently.

Thus, the currently level in play now are the $190 and the $130 levels.

However, the fact that price couldn’t make a lower low and the fact that the weekly supply is above $200, strengthen the case that price has a good possibility of getting back to $200 by year end.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

🗞 Daily Crypto News, July, 2nd💰

  • Binance Exchange to Launch Crypto Futures Trading with 20x Leverage ;
  • Bitcoin Price Dips Below $10K With Deeper Losses Likely ;
  • ‘Disappointed’ by Central Bank Blockchain, Russia’s Largest Bank Eyes Alternatives ;
  • Bitcoin Mining Profits Skyrocketed 24% Last Month, Argo Blockchain Reports ;
  • Is Bitcoin Really Selling for $76,000 in Zimbabwe? ;
  • 📑 Daily Crypto Calendar, July, 2nd💰
  • STEEM Trading Update

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

🗞 Binance Exchange to Launch Crypto Futures Trading with 20x Leverage

Binance, the world’s largest cryptocurrency exchange by trading volume, is soon to launch futures trading.


During a presentation at the Asia Blockchain Summit in Taipei on Tuesday, Changpeng “CZ” Zhao, founder and CEO of the exchange, showcased a futures trading interface on Binance with features including longs and shorts on crypto assets.


“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks,” he said. Referring to the screenshot of the interface showed on the stage, Zhao added:


“This is an actual screenshot of the working system. So Binance futures is coming.”

🗞 Bitcoin Price Dips Below $10K With Deeper Losses Likely

View


Bitcoin has dropped below $10,000 for the first time in 11 days, reinforcing the buyer exhaustion signaled by the weekly chart, as discussed yesterday.


The daily chart indicators have turned bearish, while the 4-hour chart is reporting a bearish lower-highs, lower-lows pattern. As a result, the price could slip further toward the former resistance-turned-support of $9,097 (May 30 high) in the next couple of days.


A UTC close below $9,097 would invalidate the bullish setup on the daily chart.


A high-volume break above the falling trendline on the 4-hour chart, currently at $11,100, would shift risk in favor of retest of the recent high of $13,880.

🗞 ‘Disappointed’ by Central Bank Blockchain, Russia’s Largest Bank Eyes Alternatives

The Takeaway


Masterchain, a blockchain project backed by Russia’s central bank, is falling behind on its goals two years after inception.
Sberbank, the leading bank in Russia, is unsatisfied with the system’s speed, security and overall efficiency after testing it.


The bank is looking to shift its work to other enterprise platforms, Sberbank’s blockchain lab head said.

🗞 Bitcoin Mining Profits Skyrocketed 24% Last Month, Argo Blockchain Reports

United Kingdom bitcoin (BTC) mining operator Argo Blockchain surpassed its own expectations in Q2, the company said in a new report released on July 2. 


Argo, which previously said it had benefited from the upturn in bitcoin prices, said revenues would continue to improve over previous estimates. 


“The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019,” the report confirmed. 


“This is an increase of approximately 101% from the Company’s May mining results and represents a mining margin of roughly 81%. The Company considers that this demonstrates that the Company is one of the most efficient miners in the market.”

🗞 Is Bitcoin Really Selling for $76,000 in Zimbabwe?

Bitcoin traders in Zimbabwe and South Africa are seeing skyrocketing premiums on their bitcoin (BTC), according to a report from financial news outlet Fxstreet on July 2.


Amid new capital controls in South Africa and Zimbabwe’s recent ban on local trading in foreign fiat currencies, local traders have reportedly seen asking prices of as high as $50,000 per 1 BTC if they attempt to purchase the coin from abroad.


At press time, bitcoin is trading above $10,915 on South African crypto exchange Luno, according to CoinMarketCap data — 10.5% above its price point on Cointelegraph’s bitcoin price index.

Meanwhile, other commentators on social media this week claimed that bitcoin is allegedly trading at as high as $76,000 in Zimbabwe — a premium of over 600%. As appears to be corroborated by screenshots from P2P site LocalBitcoins.com shared on Twitter, at least a scattering of traders have attempted to pocket colossal gains at an asking rate of $75-76,000:

Screenshot showing purported BTC asking prices on  LocalBitcoins.com for Zimbabwe-based traders

📑 Daily Crypto Calendar, July, 2nd💰

V1.0 “Narwhal” release, which includes the MainNet and NKN ecosystem.

“@Harmonyprotocol mainnet launch in 25 days!”

“Launch of BeliΞVE Live-Version on the 1st of July 2019”

“Stratis will be releasing our Cirrus Sidechain Masternodes on 1st July”

NPXS BEP2 integration and XWallet auto-swap, withdrawal, and deposit planned before July 1.

image.png

STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

it was too nice to be true on the STEEM. The W pattern that we started yesterday has been invalidated today and we did go test again the support line around 0.34$. The support line at 0.34$ did its job but it is really possible that we finish to break it in case of acceleration of the correction on the BTC.

image.png

Last Updates

Join this new Free To Play on the STEEM Platform !

BTC – 02 June

 

I’m not going to write you a BTC post today, I’ve already written everything that I wanted to.

I’m just going to re-show you things in case you missed them.

This post is a loosely related to my Bitcoin post (“Let’s talk BTC”) from last Friday.

But what this post is closely related to is my Twitter feed. A note to the new and a reminder to the old: I don’t blog about everything, especially short-term price movements in crypto, metals, stock market indices etc. – but I often mention them on Twitter. I therefore advise you to follow me at: https://twitter.com/brain_bit, you know; that link at the bottom of my blog posts which you always ignore 😉

No I’m kidding, I’m sure you remembered to follow ol’ Bit Brain, in which case I’m sure you’ve seen all of this before:

You saw on the weekend when I spoke about the possibility of a drop to about $10k:

 

You saw the BTC/Gold correlation (for those who still need proof that BTC is becoming a very important Store-of-Value):

 

You saw yesterday when I used diagonal Fib levels (which I still don’t see ANY other analysts using) to predict the next bottom at $9700 (today).

 

You saw how this also ties in with the last BTC market cycle (whether or not that will later prove to be relevant).

 

You saw BTC turn exactly where I predicted this morning:

 

Let’s just take another zoomed-in look at that candle wick, my Fib levels, my long-term trendline and my prediction arrow:

 

Seen better lately?

Mini-Discussion:

Ignore my narcissistic personality, that’s just Bit Brain being Bit Brain. The POINT is, I do give information on Twitter which may sometimes prove to be useful.

As mentioned in the last Tweet, I do think that BTC may have finished dropping for now, but it will take a break North of $11100 (above the 0.236 diagonal Fib) to confirm that. Being diagonal Fib levels, that figure increases daily. if I am wrong and BTC does drop below $9700, then the next support lies at $9000. Failing that, the mid-$7000s are on the cards.

A bullish Q2 to 2019 has introduced a large number of new weak hands to the market. This period of flux is caused by the weak hands shaking out while the more experienced and intelligent money buys up the BTC that the weak hands dump. It’s all part of the cycle and I welcome it. The more small dips we have, the stronger BTC can climb and the longer the bulls can run without crashing.

 

Yours in crypto

Bit Brain

All Tweets from https://twitter.com/brain_bit
All charts made by Bit Brain with TradingView

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Crypto Contest July 2: Standard Tokenization Protocol

Standard Tokenization Protocol (Bittrex: STPTBTC) 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, STPT began a wave one advance on June 15. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 28, and the red wave two (blue sub-waves a-b-c) correction could have ended today. If this wave count is correct, STPT should be heading next towards the June 28 peak in the red wave three.

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

Funnymentals

Standard Tokenization Protocol is an open-source standard defining how tokenized assets are issued and transferred while complying with all necessary regulations. BlockchainBrad interviewed the CEO back in May this year.

(Sources: Standard Tokenization Protocol and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

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