Admitting My Mistake! Answering Your Questions and a Quick Bitcoin Update

In this video I’ll quickly update my bitcoin analysis, answer your questions and admit I WAS WRONG!

Video:

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

Bitcoin Rallies Back to Test Major Resistance!

Bulls have fought their way back up to test a major resistance at $11,500. This is a critical zone for bitcoin. Not only do we see clear visual resistance, when zooming in on a micro level we can see it’s hitting the golden pocket when pulling the fib from the local swing high to local swing low.

Screen Shot 2019-07-03 at 12.17.34 PM.png

Bitcoin is also sitting right inside the upper CME gap.

Screen Shot 2019-07-03 at 12.20.57 PM.png

In today’s video I discuss where price may go from here, traps to avoid and so much more. I hope you find it helpful. I’ll follow up this video with another one that answers your questions.

Video Analysis:

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:

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

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BITCOIN: first STEEMLEO post and some resistance at 11300USD

I have received the LEO token airdrop, corresponding equally to amount of staked PAL tokens I have today so, 1176 PAL = 1176 LEO , that’s amazing because STEEMLEO is one of the first tribes/communities created on top of STEEM in order for “investors to talk about anything and everything related to investing.”… and I have to join YES or YES this community for sure so, I hope @timm members would do the same… as well as @cryptopassion , @ew-and-patterns , @bitbrain , @workin2005 …

So, from now on I will get paid in PAL tokens and LEO tokens besides STEEM.

If you want more information about go and read this post and join the community! It is time to make STEEM blockchain greater!!!

Also you have further and extensive information here.

Regarding BITCOIN…

As I said yesterday in my post, it is very likely that the correction is finished but still we have to confirm the breakage of the 11300 USD resistance which is acting as expected since it was also a historical resistance in the past.

The things will be clearer If BITCOIN then overpasses the 12300 USD level ( B symbol on the chart) however I am not totally confident, the volume is doing some hesitating changes and RSI is clearly not oversold so I am keeping my buying order at 9400 USD placed 4 days ago just in case.

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.

Crude Oil Analysis Report 7-3-19…Where To Next For Oil???

Oil had its worst reaction to an OPEC meeting in more than four years, with prices sliding just after the cartel agreed to prolong production curbs as fears about the global economy mount.  Futures closed down 4.8% in New York, the steepest decline since May 31 and the biggest drop after an OPEC gathering since November 2014.

Saudi Arabia said it would keep its output below 10 million barrels a day, even lower than required under the so-called OPEC+ deal. Yet Russia, the other de facto leader of the group, questioned a Saudi proposal to use the average of 2010 to 2014 global oil inventories to set future production targets.

The OPEC pact leaves the door open for U.S. shale producers to grab more market share, as the group will have to cut deeper to achieve inventory targets, according to Goldman Sachs Group Inc.

Source

So there was demand at $57.25,

but the reason that demand failed was because the buyers couldn’t take out and close above the most recent supply.

The chart suggests price is headed lower…to levels that I will be watching is the $53.80 level and the $51.96 level.

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.

Tesla’s Deliveries Beat Expectations

Tesla Inc beat expectations for deliveries of its Model 3 sedan in the second quarter, a performance that could ease concerns about demand for the new electric sedan.

Musk is struggling to convince investors that demand remains high for Tesla cars and that it can be delivered efficiently and swiftly to customers around the world.

Tesla has been trying to make up for a difficult first quarter, in which deliveries plunged and the company lost $702 million.

The company said earlier this year it would turn a profit in the second half of 2019, a delay from earlier projections. The company has said it will deliver 360,000 to 400,000 vehicles in 2019, a goal many analysts predict will be difficult to meet.

Overall, total production rose 13% to 87,048 vehicles compared to the first quarter. The company churned out 72,531 Model 3s in the second quarter, up from a total of 62,950 Model 3s in the preceding quarter.

Source

Tesla has many doubters on Wall Street who would love to see the company fail. This is no more apparent then short interest around $10 billion or about 30 million shares shorted (25% of float) making it one of the most shorted stocks in the U.S. market and once upon a time, the most shorted stock in U.S. Market history.

However, Elon has one this battle as I anticipate a spike in price at the open as some short sellers cover their position and will have to buy the stock back.

The chart suggests price will higher to the short term target at $260.

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, 3rd💰

  • Advocacy Groups Call on Congress to Stop Libra Development Until July Hearings Take Place ;
  • Ethereum Leaders Are Slowly Courting Gulf Coast Royals and Investors ;
  • Former Ripple Exec to Lead Binance’s US Expansion as New Exchange CEO ;
  • Gemini to Apply for Broker-Dealer License in Bid to Trade Crypto Securities ;
  • Cuba ‘Studying Cryptocurrency’ To Dodge U.S. Sanctions, Says Gov’t ;
  • 📑 Daily Crypto Calendar, July, 3rd💰
  • STEEM Trading Update

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

🗞 Advocacy Groups Call on Congress to Stop Libra Development Until July Hearings Take Place

Over 30 advocacy groups have appeared as signatories on a request that Congress and regulators implement an official moratorium on Libra development, as per the letter published on July 2.


The letter was also addressed to Facebook, with Mark Zuckerberg himself cc’d, and asked that the social media giant wait until Congress and regulators have scrutinized a detailed presentation of the proposed stablecoin-esque virtual currency.
The letter includes a number of questions that the signatories say need answers before Libra can proceed, including the following:


“The plan for Libra makes explicit and implicit promises to consumers – such as the claim that value will remain stable – but what is to stop the Libra Association from changing policy in order to, for example, degrade the value of Libra or to impose a microtax on every Libra transaction?”

🗞 Ethereum Leaders Are Slowly Courting Gulf Coast Royals and Investors

Ethereum’s leaders are pursuing a “moonshot” in the Middle East.


The Ethereum Foundation’s head of special projects, Virgil Griffith, told CoinDesk the nonprofit is partnering with finance experts in the Gulf Coast to show that the world’s second largest blockchain is compatible with Islamic law. Islamic finance customs adhere to certain beliefs, including the prohibition of earning interest on loaned funds.


The move is seen as a first step toward potentially securing investment from the region’s plutocrats.


“My job is to keep rolling dice,” Griffith told CoinDesk about work to certify ethereum’s Sharia compliance. “Probably nothing will happen. But there’s a hypothetical case where say, the Saudi sovereign wealth fund invests, like, a trillion dollars [in ethereum projects], which would be a real boon. That would be really great.”

🗞 Former Ripple Exec to Lead Binance’s US Expansion as New Exchange CEO

The operator of Binance’s upcoming U.S. crypto exchange, BAM Trading Services, has hired a former Ripple executive as its CEO.


BAM announced on Tuesday it had appointed Catherine Coley as CEO, who will be responsible for rolling out Binance U.S., as well as expanding the exchange’s marketplace in North America.


Prior to joining the firm, Coley was the head of  XRP Institutional Liquidity at San Francisco-based distributed ledger tech startup Ripple, BAM said in the announcement.

Before entering the blockchain and crypto space, Coley worked for banking giant Morgan Stanley in Hong Kong and London in the institutional foreign exchange market, and handled international payments and global treasury management for startups while at Silicon Valley Bank.


Changpeng Zhao, founder and CEO of Binance, said in the announcement:


“I am confident that with Coley’s leadership and Binance’s leading technology platform, Binance.US will be able to provide valuable services to the U.S. community.”

🗞 Gemini to Apply for Broker-Dealer License in Bid to Trade Crypto Securities

The Winklevoss-owned cryptocurrency exchange Gemini will apply for a broker-dealer license from the Financial Industry Regulatory Authority (FINRA), CoinDesk has learned.


This is the first step toward becoming an approved Alternative Trading System, where customers can lawfully swap digital securities.


Gemini previously partnered with the tokenized securities platform Harbor, which allows institutional investors to buy securities with Gemini’s GUSD stablecoin and to also receive dollar-denominated dividends via GUSD. It stands to reason that Gemini would also want to facilitate the trading of such securities on its own platform.

🗞 Cuba ‘Studying Cryptocurrency’ To Dodge U.S. Sanctions, Says Gov’t

Cuba is the latest country to consider using cryptocurrency to skirt U.S. sanctions, Reuters reported quoting a government source on July 3.


In a public address on local television, the country’s president, Migual Diaz-Canel, said the plan would raise capital for around one quarter of the population, helping to pay for reforms. 


Cuba has felt a severe knock-on effect from the crisis in Venezuela, which was previously a major source of aid. 


“We are studying the potential use of cryptocurrency… in our national and international commercial transactions, and we are working on that together with academics,” Reuters quoted economy minister Alejandro Gil Fernandez as saying.

📑 Daily Crypto Calendar, July, 3rd💰

Browser / explorer Launch on 3rd of July.

PC wallet grand launch on 3rd of July.

“On July 3 at 10:00 am GMT+8, CEO and Co-Founder of #PundiX @zibin will host a video session to talk about the progress made in Q2…”

“We are changing the #Celer X @binance AMA schedule to July 3rd 2pm UTC to combine with our Mainnet Exclusive Preview Happy Hour!”

CEO Giacomo Tognoni, will give an overview of Bethereum and the unique solution it brings to both the gaming and the gambling industries.

Live Q&A with Thomas Marchi, Lead Developer of Sentivate. July 3rd at 22:00 GMT.

image.png

STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The BTC is doing a bounce from 10k but you know what? STEEM doesn’t want do the same and is dropping… So yeah, technically, the support line at 0.34$ is broken. However we are staying just next to it and so it could be simply a little trap or not a real break of that line. Let’s see if we will be able to be higher than this line in the coming hours.

image.png

Last Updates

Join this new Free To Play on the STEEM Platform !

Crypto Contest July 3: XMax

XMax (Huobi: XMXBTC) 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, XMax began a wave one advance on May 26. The red wave one finished on June 8, and the red wave two correction ended on June 17. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 28, and the red wave four correction ended on July 2. If this wave count is correct, XMax should be heading next towards the June 28 peak in the red wave five.

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

Funnymentals

XMax is a blockchain entertainment developer ecosystem. Crypto Love interviewed the CEO last year.

(Sources: XMax and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Currency Analysis Report 7/2/19 – Aussie Dollar Trying To Make Money Moves

Australia’s central bank cut its benchmark interest rate by a quarter of a percentage point on Tuesday to a record low of 1% in a bid to boost the economy.

The cut is the second in consecutive months. Previously the Reserve Bank of Australia had not shifted the rate in almost three years.

The outlook for the global economy remained reasonable. But uncertainty generated by the trade and technology disputes was affecting investment and meant that the risks to the global economy were tilted to the downside, Lowe said.

The changes were widely expected after Lowe said in May that inflation was likely to remain below the bank’s target range of 2% to 3% a year and that a decrease in the cash rate would likely be appropriate.

Source

I was expecting the Aussie Dollar to decline and continue to decline, but it didn’t.

This was the same thing that happened last month, the Aussie Dollar rose when they cut rates in June, but the Aussie Dollar rose on the news. I know first hand because I was stopped out on two of my AUD short positions.

What’s interesting right now is the Aussie Dollar formed a double bottom or what I call a “W” pattern.

Thus, I will be monitoring to see if the daily demand at 0.6960 will hold to confirm the “W” pattern.

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.

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