The Sunday Crypto Recap – Down the Rabbit Hole 36


A little cooler in the market this week. Low-ball BTC entry points have been rewarded but a test of 10k and lower does seem likely. This week focuses on Alts as they generally continue to bleed-out against Bitcoin. Personally, I would advise patience – the time to trade out of Alts was 2 months ago.

In addition, this week I’d like to draw your attention to the Twitter section. There’s a lot of value to be extracted from curated Tweets -the constraints imposed by the medium (character limit) occassionally result in very elegantly constructed discussion pieces. The included Tweets range from a few words of witty observation to articles in a Tweet-storm format.


Picks of the Week

An article in a Tweet – well 22 of them discussing the current state of the Alt coin market and what may accrue value going forward. An insiders take on Libra also makes for an excellent investment of time.


Twitter

Time to stop waiting on Alt season? – An article in a Tweet (highly recommended):
https://twitter.com/jdorman81/status/1145897192244166658

Tips on short-term trading BTC (recommended):
https://twitter.com/krugermacro/status/1144984725699911680

Bitfnex shorts explained – technical (recommended):
https://twitter.com/ismailtarim977/status/1145429588031541250

Advice on BTC – short and in my opinion – correct:
https://twitter.com/zhusu/status/1146214526573928449

BTC/ALT divergence:
https://twitter.com/zhusu/status/1146587630110310400

Tether is doing something interesting:
https://twitter.com/sassal0x/status/1146237778075631616

Freedom to encrypt is most certainly not a given anymore:
https://twitter.com/AriDavidPaul/status/1144582882997997568

The saga of Craig Wright continues (summary of the latest of one of his many court appearances):
https://twitter.com/KatieAnanina/status/1144831152131313664

A bullish dispute for crypto (perhaps very bullish indeed)?
https://twitter.com/AlexSaundersAU/status/1146541149600878592


Articles

Touring the institutional landscape of crypto:
https://medium.com/@kinjalbshah/institutions-have-arrived-who-what-and-why-920f00fc00e8

BTC as a global currency – breaking the mould:
https://offthechain.substack.com/p/bitcoins-department-of-defense-the

Dan Larimer’s latest on decentralized governance (recommended):
https://medium.com/@bytemaster/decentralizing-governance-7bb43ddae81d

An interesting (possible) ‘bullish’ indicator from Chinese state media:
https://decrypt.co/7624/chinas-state-run-media-agency-reports

The Internet of Things (IOT) examined:
https://medium.com/swlh/internet-of-things-whats-that-d3fb018aa7b8

IOT and decentralization require each other:
https://cryptobriefing.com/computing-edge-iot-decentralization/

Examining Ethereum as a potential investment:
https://trybe.one/is-ethereum-a-good-investment


Podcast

The case for Libra from an insider (don’t let current regulatory headwinds distract you -Libra will likely launch at some point):

https://podcasts.apple.com/au/podcast/libras-dante-disparte-on-why-we-should-trust-financial/id1347049808?i=1000442264377

YouTube

An original thinker with a long history of making good calls – well worth being aware of (recommended):

https://youtu.be/TCOokkMPByE


The Lightning Network very clearly explained (recommended):

https://youtu.be/9UIOeoBEjmw


The market is ever contrary (highly recommended):

https://youtu.be/pM7n7Hk65QU


A sensible take on what to do with your Alts as they currently fail to track BTC (recommended):

https://youtu.be/J3uoDcXgWTU


Infographic

Just in case you hold the belief that interest in Ethereum is dying:

https://etherscan.io/charts


Website / Utility

An easy and engaging way to work out returns on holding BTC (recommended):

https://99bitcoins.com/bitcoin/investment/

Well, I hope you found some material of interest and/or value during this week’s trip through the crypto rabbit hole. As always, looking forward to your comments and suggestions.


Note on Sources:

Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.

XMR technical analysis

XMR seen from the temporality of 1D we can observe the setup of a diagonal expanding, the points of the movement are marked in the graph in blue color, we can see that the point four has respected the figure drawing itself up diagonally to the point two (I have traced it with a diagonal red color), we should expect a point five up diagonally to the point three, to complete the pattern we should reach the area that I have marked within a blue rectangle that is located within the price range of 131.95 – 137.60.

XMR seen from the temporality of 4H we can observe more closely the current movement of the candles, we see how the price has respected the key support located in the 83.48 where it has found demand, therefore, has taken the necessary bullish impulse to break the point EQ located in the 95.28, the current candle is beginning to show signs of a possible retreat, we could have a pullback below the point EQ and take impulse again in the support I have indicated with a blue horizontal color located at 92.56, if you respect this support, the price would be forming a setup of SHS (a very bullish pattern), this figure will be important to convince the bulls to go for point five of the major figure.

In conclusion, if we have a recession in the price below the EQ point, we should later claim the 95 again to follow the ups in the next move of XMR, overcoming the resistance of SUPPLY located at 104.35 the price will not have problems to reach the range of 131.95 – 137.60 mentioned above, as always, I recommend to be very attentive to the movement of the next candles of 4H.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

BITCOIN: interesting Pattern…

…the one that we can see on BITCOIN chart right now and, in general, in mostly all the crypto market nowadays…

It is the famous Inverted Head and Shoulders pattern which used to anticipate a change on the price action, in this case upwards.

These kind of pattern often are identified as reversal patterns despite they could also indicate a continuation patterns as well.

What I don’t like at all is that the volume does not look to support the positive direction of the price according to that pattern so, I am afraid we are going to wait some time in order to see if BTC has enough power to cross the neckline.

The inclined neckline shows that 12000 USD can be a good entry point if the volume increases since it will confirm the end of the correction and the resume of the uptrend. If so, the target according to this pattern would indicate a rise around 14500 USD.

As usual, pay attention to the chart and anticipate the move in order to get the most from it.

@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: Waiting for Resolution! Answering Your Questions

Bitcoin has been consolidating around $11,500. It continues to respect the descending resistance line, and overall support around $10,700.

Screen Shot 2019-07-06 at 1.34.37 PM.png

Looking at the 4 hour chart, we can see the 8, 21 and 55 day EMA, as well as the 50 day MA all converging. This suggests a larger move to come, likely in the next few days.

Screen Shot 2019-07-06 at 1.35.27 PM.png

In today’s video we’ll discuss where price is going next, traps to avoid and so much more. I’ll also answer your questions. 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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SPDR Sector Relative Strength Analysis Report For Week Starting 7/8/19

Sector rotation is the action of shifting investment assets from one sector to another to take advantage of cyclical trends in the overall economy in an attempt to beat the market.  Sector rotation seeks to capitalize on the theory that not all sectors of the economy perform well at the same time because sectors of the stock market perform differently during the phases of the economic and market cycle.

For example, defensive sectors such as consumer staples, utility and health care stocks tend to outperform during a recessionary phase, while consumer discretionary and tech stocks tend to fare well during early expansions.

When you trade, you want the strongest stocks in the strongest sectors, which is why you should monitor sector performance carefully.  With that said, lets determine the relative strength of the sectors relative to the S&P 500 ETF, SPY for the upcoming week.

Communication Services (XLC)       

Consumer Discretionary (XLY)      

Consumer Staples (XLP)                   

Energy (XLE)            

Financials (XLF)           

Health Care (XLV)        

Industrials (XLI)  

Materials (XLB)            

Real Estate (XLRE)                   

Technology (XLK)                  

Utilities (XLU)

Based on the moving averages and the last daily closing price, relative to the moving averages,

the SPDR sectors’ relative strength, relative to the SPY are the following:

Two Weeks Ago

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.

Forex Relative Strength Analysis Report For Week Starting 7/8/19

Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular.

And in the foreign exchange market 90 of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the dailytime frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are in parenthesis).

AUD/USD – Australia dollar (Aussie) vs. the U.S. dollar

EUR/USD – Euro vs. the U.S. dollar

GBP/USD – British pound (Sterling or Cable) vs. the U.S. dollar

NZD/USD – New Zealand dollar (Kiwi) vs. the U.S. dollar

USD/CAD – U.S. dollar vs. the Canadian dollar (Loonie)

USD/CHF – U.S. dollar vs. the Swiss franc (Swissie)

USD/JPY – U.S. dollar vs. the Japanese yen (the Yen)

Based on the moving averages and the last daily closing price, relative to the moving averages,

the currency relative strength relative to the US dollar is the following:

Two Weeks Ago

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.

Crypto Contest July 6: Status Report XXX


In this report I will look how my analysis worked for the month of May 2019. There were 31 contests in May. I have already paid out / upvoted all of them. The analysis was correct seven times, wrong seven times and the cryptocurrency was in a range 17 times.

The correct ones were the following:

  1. Crypto Contest May 3: Arcblock
  2. Crypto Contest May 12: Cosmos
  3. Crypto Contest May 18: Pundi X
  4. Crypto Contest May 22: Everipedia
  5. Crypto Contest May 25: U Network
  6. Crypto Contest May 28: SaluS
  7. Crypto Contest May 29: Themis

 

In these contests the range option won:

  1. Crypto Contest May 1: Litex
  2. Crypto Contest May 2: Lambda
  3. Crypto Contest May 6: COVA
  4. Crypto Contest May 7: Status Report XXVIII
  5. Crypto Contest May 8: DeepBrain Chain
  6. Crypto Contest May 9: QunQun
  7. Crypto Contest May 10: Seele
  8. Crypto Contest May 11: Wollo
  9. Crypto Contest May 13: MediShares
  10. Crypto Contest May 14: Ruff
  11. Crypto Contest May 15: IOTA
  12. Crypto Contest May 16: Elastos
  13. Crypto Contest May 19: Newton
  14. Crypto Contest May 21: SunContract
  15. Crypto Contest May 24: Bibox Token
  16. Crypto Contest May 26: Celer Network
  17. Crypto Contest May 27: Content Neutrality Network

In these contests the analysis was wrong:

  1. Crypto Contest May 4: Cred
  2. Crypto Contest May 5: Presearch
  3. Crypto Contest May 17: Time New Bank
  4. Crypto Contest May 20: Tripio
  5. Crypto Contest May 23: Blockparty
  6. Crypto Contest May 30: FairGame
  7. Crypto Contest May 31: EduCoin

How did the previous months’ analysis go?

From April 1, 2017 to May 31, 2019, the analysis has been correct 164 times, wrong 159 times, and the cryptocurrency has been in a range 432 times.


How did the voters do in May 2019?

The voters (the most qualified votes (group or consensus)) were right 18 out of 31 times. So one could say that the crowd was right 58% of time.

Here is the list of contests that the most qualified votes (crowd) won:

  1. Crypto Contest May 1: Litex
  2. Crypto Contest May 2: Lambda
  3. Crypto Contest May 6: COVA
  4. Crypto Contest May 7: Status Report XXVIII
  5. Crypto Contest May 8: DeepBrain Chain
  6. Crypto Contest May 9: QunQun
  7. Crypto Contest May 10: Seele
  8. Crypto Contest May 11: Wollo
  9. Crypto Contest May 13: MediShares
  10. Crypto Contest May 14: Ruff
  11. Crypto Contest May 15: IOTA
  12. Crypto Contest May 16: Elastos
  13. Crypto Contest May 19: Newton
  14. Crypto Contest May 21: SunContract
  15. Crypto Contest May 24: Bibox Token
  16. Crypto Contest May 26: Celer Network
  17. Crypto Contest May 27: Content Neutrality Network
  18. Crypto Contest May 30: FairGame



How did the voters do earlier?

Here is a table of crowd’s accuracy since February 2018.

May was the second worst month for this year so far.

Conclusion

Congratulations to the winners!

How can I vote? Where is the contest?

You can vote by following this link.

Liberland show

Our host, Adam J. Carswell, appeared as a guest on WFN1’s show CEO Money and had an opportunity to talk about Liberland. CEO Money is broadcasted and produced in Dallas, TX, USA.

In this interview Carswell discusses:
1) The founding of Liberland
2) The principles and ideas of Liberland
3) Liberland’s first airport

Follow the Liberland Show:
iTunes: itunes.apple.com/us/podcast/liberland-show/id1442988844…

Spotify: open.spotify.com/show/6oGiaY901GlfWbaFqgEEaF

Google Podcasts: https://www.google.com/podcasts…

The Oil Service Companies Continue To Decline

For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival.

The service companies that handed out discounts in the downturn are barely holding on. Schlumberger Ltd. and Halliburton Co., the two biggest, have each fallen by more than 65% since crude started tumbling, and Weatherford International Plc on Monday filed for bankruptcy. Contrast that with the oil producers, collectively down less than 50%.

The gear glut is taking a toll as service companies are jockeying to defend their share of an increasingly lean market. The prices charged by service companies are at their lowest levels since September 2016, with more companies dropping prices than raising them, according to data from the Federal Reserve Bank of Dallas. The servicer price index hasn’t risen for at least a year, the bank’s quarterly surveys show.

Source

As shale drilling technology and efficiency gains continue to improve each year, the break even point continues to go down for the shale productions. The latest break even point figure is near $50 now. But just because the break even point has declined, doesn’t necessary mean more profits. Although oil prices are higher relative to previous years.

The oil sector relative to the equity markets continue to decline, which means the break even point must continue to come down in order for companies to have a chance of survival.

And since the oil services company exist because of the oil production companies, it only makes sense that they are fighting for their lives as well.

VanEck Vectors® Oil Services ETF (OIH®) seeks to track the overall performance of U.S.-listed companies involved in oil services to the upstream oil sector, which include oil equipment, oil services, or oil drilling. The chart suggest OIH is headed lower over time.

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.

For UK Acid techno lovers – tonight in Leeds UK 909//303 at beaverworks – Dave The Drummer, Chris Liberator, Sterling Moss,Glowbones, Tassid and more….

https://www.facebook.com/RiffRaffLeeds/

line-up

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909//303 on saturday 6th july 2019

909//303 

Saturday 6th July At The Beaverworks, Leeds. 

Rebel Alliance, Blackout Audio & Be Worth Management Presents: 
Two rooms of the finest techno and acid music.

303 MACHINE ROOM // ACID

Chris Liberator
Aaron Liberator
Sterling Moss
The Geezer LIVE
Tassid
Koko Acid Lab
Glowbones
Miss Monument

909 MACHINE ROOM // TECHNO

Ben Long (Space DJz)
Trevor Rockcliffe
D.A.V.E. The Drummer
Mark EG
The Anxious LIVE
Gemma Furbank
Omid Dubtek

POWERED BY // 

ALLEN & HEATH
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10PM to 6AM // 

The Beaver Works,
36 Whitehouse Street,
Leeds,
LS10 1AD.

TICKETS VIA // SKIDDLE