EOS Price Working Through a Descending Triangle

The price of EOS has been bouncing around near the support level in the mid 5’s of late.   After making a lower higher following it’s latest top in price on June 1st it is important to pay mind to this level.

Resolution is Near

There is a descending triangle in the works as you can see from looking at the chart in this post.

Now let’s be real, you can see we still have some time before price would reach the apex, likely two weeks, assuming price were to continue grinding sideways.

As we know though, anything can happen with price action on cryptos.   At anytime price could fail that 5.60 level and then open up downside risk to 4.60 (the latest bottoms).

If price pushed higher sooner rather than later we want to keep an eye on it breaching the descending trend line.  6.50 and then 7.50 are the upside targets I would keep my eyes on initially.

Conclusion

Regardless of what happens we should always have an idea of the upside and down side targets along with what if any trend a crypto’s price is currently in.   That old saying “knowing is half the battle” really does ring true!

Intermarket Relative Strength Analysis Report For The Week Starting 7/7/19

Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.

The US economy is still the largest in the world and the US dollar is still the most powerful currency in the world.  Over half of all foreign currency reserves in the world are in US dollars.  Thus, the asset classes relative strength will be compared to the US Dollar.

Bitcoin

30 Yr Bond

Copper

Euro Dollar

Gold

Oil

Soybeans

S&P 500

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

the asset classes’ relative strength, relative to the US Dollar 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.

Is Bitcoin Finally Ready to Breakout?

As discussed yesterday, Bitcoin continues to consolidate within a tighter range. Volume is dropping. This suggests a larger move in the next 24 hours or less.

Screen Shot 2019-07-07 at 1.06.07 PM.png

In today’s video we’ll discuss where it may go from here, 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

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Investing-Engaging-Compounding / SBI Sponsoring [W8]

Another stagnant-price week = Another Good Chance for building your account on the Steem blockchain.

No one likes to see our beloved blockchain losing places at the coinmarketcap list week after week. We have touched the 77th position this week and we are now at the 74th, hope we have touched the bottom… What is clear is that still there are so much Liquid Steem in the Exchanges but I think the increasing trend is decelerating a little, I guess that the reductions on withdrawals to exchanges by @steemit this week is helping a little.

However, as I said in the first paragraph, I remember many people complaining about how expensive was to buy Steem at the time it was costing 4, 5 or 6 USD each, and many of them were almost hoping to see a lower steem price in order to buy and compound/build their accounts.

Ok, so the good time for buying STEEM is NOW.

Despite the current correction of the Crypto Market, BITCOIN is growing, scaling in price, recovering its dominance.

Altcoins, as STEEM, are struggling behind because now, what people is looking at is mainly how to accumulate BITCOIN instead, anyway if for doing so they will lost their investment in other crypto projects…as ours.

What too many people is forgetting when doing this is that once BITCOIN will stabilize its dominance, the transference period will arrive and so, those who have been building their accounts day by day will have their prize…

And then, we will read and hear again people complaining about “how expensive will be to build their Steem account at the current prices” and “what a pity I did not invest 150$ to become a minnow when Steem was so cheap…”

Believe me, that will happen again.

Don’t look for better Social Related Blockchains, STEEM is the one and only. The development is higher here, the communities are stronger and the level of decentralization, despite not being perfect, is also good.

For me there are three important words in order to self-success at the STEEM blockchain:

INVESTING

ENGAGING

COMPOUNDING

Probably, the most important is ENGAGING but the combination with the other 2, INVESTING and COMPOUNDING, makes as a result the SUCCESS in the platform.

SBI SPONSORING

My SBI shares for this week are going to @javirid , @anaclark and @mrhill .

@javirid has already crossed the line of “MINNOW HOOD” a few days ago, I am super happy for him. Additionally, he has revealed this week the project on which @javirid is working on. He has not explained it in detail but it seems to be an Steem-based dapp in order to provide an interface of @dsound application . As I said many times before, this guy deserves to be supported and followed because besides being a good developer, he has a clear thinking and very interesting opinions about any topic, from politics to Blockchain technology.

@anaclark stole my heart a few weeks ago… however, she stopped writing for a while a few weeks ago, but now she is back fully motivated and willing to understand as much as possible about our Blockchain. I would recommend you to read this post and this post from her which are very interesting. She is starting to understand how the Steem Blockchain works so she is posting questions openly about SP, SBD, Power up/down, rewards… I think she is already hooked by the project (LoL).

Besides the @steembasicincome share I am going to delegate some SP to her, just to give her some release in terms of Resource Credits “maneuverability”.

@mrhill , another guy who deserves more attention. He is really progressing very fast and also has received a delegation recently from @grider123 . He has wrote an amazing post about “COMPOUNDING SP” with some interesting experiences in.

All in all, they represent really good candidates for the #tenKminnows@steevc initiative,


And that’s all for this week folks!

Steem on.

@toofasteddie

Cryptocurrency Relative Strength Analysis Report For Week Starting 7/7/19

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

Source Image

Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

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

the altcoins relative strength, relative to Bitcoin 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.

World Stock Market Relative Strength Analysis Report For Week Starting 7/7/19

The Standard & Poor’s 500 Index (known commonly as the S&P 500) is an index with 500 of the top companies in the U.S. Stocks. Because the S&P 500 Index represents approximately 80% of the total value of the U.S. stock market, it’s the bellwether index for the U.S. stock market. In addition, the U.S. stock market is the largest stock market in the world, it’s also the bellweather for equity markets around the world. The S&P 500 is arguably the most important stock market index on the planet.

Source Image

Because we live in a global economy, the global equity markets interconnected and highly correlated.  However, some will outperformance other in the short term and long term. When constructing an equity portfolio, for the best returns one needs to have the ability and the capacity to assess all the major equity markets around to asset allocation purposes.  However, the first step is to determine the relative strength of the major equity markets, relative to the bellweather, the S&P 500.

DAX (Germany)

Dow Jones (US)

FTSE 100 (England)

Nasdaq (US)

Nifty 50 (India)

Nikkei 225 (Japan)

Shanghai (China)

Russell 2000 (US)

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

the world equity markets’ relative strength, relative to the S&P 500 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.

$STEEM May finally have something here…

After being a complete lump on a log and trading in a range tighter than usual for an extended period of time, we may have something here. Steem is looking at breaking up on a 4 hour timeframe and targeting back to the top of the range. With all the innovation improving daily and price staying the same, I am finding harder to believe that price will just stay stagnant. I believe and Up move is in the works here.

When Not to Use an LLC for an Investment Property

That title may have thrown you for a second.  As investors a Limited Liability Corporation (LLC) is one of the best tools we can use for investment properties for both liability and tax purposes.

However, there are some scenarios when using one does not make sense.

When Not to Use an LLC for an Investment Property

1.) House Hacking, FHA Loan, etc.

If you plan on living in the home and leverage loans designed for owner occupants then you would not want to purchase in an LLC, but rather your own name.

LLC’s cannot procure certain loans, such as ones back by the Federal Housing Authority (FHA).  That loan needs to be in your own name.

If you plan to refinance out of that home and move to the next house hack, then at that point flipping it into an LLC can make sense.

2.) Low Down Payment Traditional Loans

As stated above you really can’t get the traditional homebuyer loans using an LLC, which also eliminates low down payment loans for the most part.

Putting down 20-25% will basically be standard when buying with an LLC.   If you don’t have that kind of down payment money then an LLC is probably not the right move for you.

Protection Though

So if we aren’t in a position where leveraging an LLC makes sense how can we be protected?

It’s simple – good old insurance.  It may not be perfect but it has worked for a century, just be sure you have the proper coverage.

Be sure to work through all the insurance options with your agent so nothing slips through the cracks and you and your investment is covered.

Same goes for when using an LLC, be sure to have your lawyer or accountant create it for you and structure it to your needs.

There are many variables in the real estate investing game, but in the end it is not rocket science.  Due diligence and some discipline go a long way.

 

Crypto isnt a scam. But why does the market so badly want to make it seem like it is?

Been looking at the twitterverse lately. @nathanmars still going strong pushing Steem exposure forward. Bitcoin maximalists talking trash and shilling Bitcoin like its the second coming when in reality its the FORD T of crypto right now. Binance listed Dogecoin yesterday (facepalm) with the justification of:

Elon Musk mentioned it that one time!

Dogecoin went up 40% that day (i assume there was a correction soon after)… But it begs the question of how the hell did it end up at 30 in MC anyway?

I never understood this. The coin itself is a joke, had almost no development whatsoever for a long time and you hold it instead of putting it into a project with greater value and potential?
It doesnt even have to be something you research thoroughly, something thats hyped up like Tron, supported like Bitcoin…. It can literally be anything. You could literally write all the top 100 cryptos without Dogecoin, each on a piece of paper and pull them out of the hat and you would draw a superior token to Doge. Yes even BSV.

But look at the other projects. Ive talked trash about ETC being listed on Coinbase. When i tried researching ETC and its usage. What i found is almost no info on any dapps and 200 times less daily transactions then STEEM.

Take a look at TRON. Hyped beyond belief, filled to the brim with gambling dapps and still has less transactions then STEEM… Im not saying transactions stats are be all, end all, but JustinTRON loves to proclaim when ever Tron passes EOS in any metric.

A few days ago i wrote this tweet:

And i really do believe it.

If McAfee said he would cut of his penis if BTC isnt at a million USD by whatever date, i will copy his wager and say that if STEEM ever reaches 10 billion USD, a third of ETH market cap right now, and one of the Steem social dapps doesnt overtake Facebook, ill cut my penis off as well and toss it into the long dark night never to be seen again. lol

On a more serious note.

The fact that we are seeing lackluster projects taking top spots in Marketcap is for me a warning sign. It shows to me that the market has a very hard time evaluating projects. Seeing Doge being listed on Binance strengthens that belief.

You can say im wrong to do so, but I will question the future of any market that sells trash assets at a premium price in the long term.

I believe that crypto has a sound foundation. I believe it has the potential (important word) to change the world, but to realize that potential the market needs to take a serious look at itself.

Ruining the perception of the outside world about cryptocurrencies will bring nothing good to anyone in the long run.

Crypto Contest July 7: Digitex Futures

Digitex Futures (HitBTC: DGTXBTC) 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, DGTX began a wave one advance on June 2. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 17, and the red wave two (blue sub-waves a-b-c) correction ended on June 26. If this wave count is correct, DGTX should be heading next towards the June 17 peak in the red wave three.

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

Funnymentals

Digitex Futures is a zero-fee, non-custodial futures exchange with its own base currency, the DGTX token. You can watch their promo video below.

(Sources: Digitex Futures and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.