ADA technical analysis

ADA seen from the temporality of 4H we can observe the formation of a bearish flag that should end up making the break down and continue with the bearish trend, however, the price is in the process of claiming the 1D support, if it makes a correct test and we have confirmation with a bull candlestick we could see a reversal of trend and see the price rise towards the supply zone that I have drawn in the chart inside a blue rectangle located in the price range of 0.08840 – 0.08940, in the image I have also drawn the two possible trajectories that could follow the price within this setup depending on the movement of BTC in the next hours, in case of a correction we could see ADA test the support of the channel by making a pullback below 0.07961 and not to get 1D support again the price could fall to the zone of demand in 1W located at 0.06601.

ADA seen from the temporality of 1D we can observe from a broader perspective the current structure of the candles in the major figure, after the price broke down the blue diagonal was made a pullback confirmation making the price fall strongly towards the area where it is currently, in the chart above I have placed the important levels to take into account during the movement.

In conclusion, in the short term we have a setup of continuation of the bearish movement that should conclude in the zone of demand in 1W, in case that BTC continues rising it is very possible that the pattern will be invalidated and we will see an upward movement towards our objective pointed out above in the graph of 4H, I recommend to be attentive to what BTC does in the next hours and to contrast it with the price of ADA to avoid falling in the traps.

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

You know what is UP when the Market is Down? $TWTR

The ole MO strikes again with the Twitter bird. The market gets smoked, and $TWTR rips higher. You can’t make it up folks, it happens regularly.

I have been long $TWTR a while since last earnings and still sitting green. It looks like I am going to have to be in it this earnings as well and looking for a run up. $TWTR is a no brainer IMO and I have been saying this from the early 20s and been on the platform 9 years. I am looking for this to make a VERY BULLISH move here.

Buy $TWTR.

BITCOIN: iHS triggered?

Just a couple of days ago I was writing a post about an interesting pattern in formation. It was an Inverted Head and Shoulder pattern and I told it has the potential to allow a continuation trend upwards with a target of 14500 USD.

The following was the pattern I was talking about:

And what we can see right now is that after breaking the neckline at 11760 USD the volume is increasing consistently:



Those two higher bars at the volume of the 4 Hour chart may indicate an acceleration of the price action and so it is what is exactly occurring. A good example of one of the most succeed patterns in TA, in this case it is acting as a continuation pattern on a Bullish Scenario.

The target of this pattern points right now towards a new High of the year around 14500 USD, will see how close BITCOIN will be from that level in some hours from now.

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.

Is Bitcoin Still in a Bear Market? Analysis and Answering Questions

Bitcoin jumped today from $11,350 to our known resistance at $12,000.

Screen Shot 2019-07-08 at 12.11.07 PM.png

Zooming out on the weekly chart, we can see price is trading above the last 3 weekly candle’s close. Bitcoin has been defiant of the bearish reversal candle we saw 2 weeks ago.

Screen Shot 2019-07-08 at 12.12.31 PM.png

As most of you know, I believe the bottom is in and bitcoin is now in a bull market. Could I be proven wrong? Of course…and I’ll be the first to admit it if I am.

In today’s video we discuss the case for the bear market continuing and lay out why I think it’s over. I also answer your questions on how I learned to trade, discuss where price my be heading next and so much more. 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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Ripple Trying To Make Money Moves

Ripple’s mission is to provide bank solutions allowing for faster payment settlement and lower foreign exchange fees.  So they created the digital currency / ledger XRP.

XRP has gotten a bad rap over the years by the hardcore crypto maniacs out there because they claim XRP isn’t decentralized because of the Big Banks’ compliance requirements and members on their board who once held government position.  Who cares whether they are decentralized or centralized, it’s about are they adding value to the Crypto space and recently, they are making money moves.

For instance, Xpring, the Ripple incubator, and investment arm revealed in a blog post on July 2, 2019, that it had invested $500 million in over 20 startups that are using the XRP protocol to grow the Ripple community.

In the same vein, Ripple on June 17, 2019, announced it has entered a strategic partnership with MoneyGram, one of the largest money transfer companies in the world.

It’s also worthy to note that the Federal Bank of India revealed in March 2019 that it has collaborated with Ripple in a bid to enable financial institutions to send cross border payments more securely.

The cryptocurrency community, on the other hand, are banking on developments of this nature to push the price of XRP above its all-time high of $3.15.

Many crypto analysts have predicted that the virtual asset may take charge and trade as high as $7 in the coming months.

Source

If investments into worthwhile projects within the XRP ecosystem continue, investors in XRP/Ripple will be handsomely rewarded in the long term.  The chart suggests the next levels to monitor are the daily demand zones near $0.25 and the daily supply at $82.

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.

Much needed upgrade for a strimmer

About a month back I bought a petrol powered strimmer, so I could maintain our yard and the border around it as well. Summers in Portugal also unfortunately mean fires and in areas where the fires were quite damaging the last few years, the policing of properties is quite active and fines are steep if your property is overgrown.

We got a guy in with a tractor to do most of the cutting, as the grass was quite tall, but I still need to clean the edges as well as the part between the trees which has so much wire, we asked the guy to just skip it.

The strimmer came with a metal blade, which I have not used (more on that later) as well as the normal auto-feeding kind, that you get with pretty much any weed whacker. This makes use of a nylon cord that auto dispenses when you push the end onto the ground.

I ended up buying a replacement made out of aluminium. At €10 it was not the cheapest, but still about a quarter the price of a ‘quality’ plastic one.

Here it is almost finished installed. I do love the look of turned metal!

Here’s whats left of the plastic one that came with the strimmer. It flew apart as I was cutting some grass, I am missing some of the parts, like the spring and two washers.

To be honest I really do not think I was that hard on it. I certainly did not handle it roughly nor bash it into rocks or anything like that. The sections where the top piece clip in seem particularly weak, here you can see a whole piece broke off.

On the cover, you can see a clip broke off too, somehow it wore holes in the side of this piece too, where the plastic seems particularly thin.

Same happened almost all the way around. This made me quite unhappy. The rest of the strimmer seems ok-ish, nowhere near as weak and brittle as this part.

The replacement part in pieces, instead of auto dispensing, you need to cut the cord to length then clamp it using the allen head bolt.

The part on the left is bolted to the end of the strimmer and the kit came with a few different washers, seemingly allowing it to be fitted to different models/makes.

Here the first part is attached, as you can see it just bolts onto the shaft.

The part that holds the cord is then screwed into the threads. It all feels nice and solid and likely will hold up to much more use / abuse than the plastic one ever could.


Here’s the metal blade I mentioned before. I have no doubt that its more effective than the nylon cord I am using, but it’s not allowed here (they still sell it in the stores though?). Apparently these could cause fires, if you hit a stone or rock with them, there could be a spark starting a fire and then big problems.

Two years ago there were really bad fires where a number of villages were badly affected, with a number of deaths because of the forest fires and people left without homes. Whether these things can start a fire or not I am not going to take any chances.

Post workout shot. It’s done some work and I have changed the cords, it’s actually pretty trivial and I find it much quicker / simpler than trying to wind that damned cord into the previous plastic housing. In my mind this is more convenient that the other way.

It also has the added benefit of being lower, almost double the distance from the shaft. This helps me as I am fairly tall, and was finding the agle I had to hold the strimmer at was not great. It’s still not ideal, but is a bit better.

The rest of it looks fairly new, it should, it’s not had a hard life.

Maybe this is just a case of an ok tool being let down by cost cutting on a part that will see the most wear? I am not sure, I will have to see how things go. I don’t know too much about the Einhell brand, but it looks to be like all the others where it has a European brand but all the actual manufacturing happens in China. Not alway a bad thing, unless you drop the ball on quality control that is…

Dogecoin…Now Listed On Binance

Dogecoin is a cryptocurrency which got its from the “Doge” Internet meme that features Shiba Inu dog as its logo. What started out a joke, it now has it’s own online community and is ranked the top 30 coins according to CoinMarketCap.

Jackson Palmer is an Australian entrepreneur created Dogecoin as a joke.  However, what started out as a joke, grew through social media, has an active community and has now been listed on Binance.

After years of waiting, Dogecoin (DOGE), the popular meme-based cryptocurrency, has finally been added to the world’s largest crypto exchange, Binance.

The reasoning behind the sudden listing of one of the oldest cryptocurrencies is seemingly fairly straightforward: people simply love Dogecoin.

“This one is an exception [to Binance’s strict listing policies], as there isn’t much new tech development (I guess it was never about the tech for this one),” explained Binance CEO Changpeng Zhao. “The users/community is large, and a famous ‘ex-CEO’ (cough  Elon Musk) helps!”

Source

So where is the price of Dogecoin headed next, after the major weekly resistance/support line at $0.002 has held earlier this year and with price respecting the weekly up trendline, the chart suggest price is headed to the a short term target at $0.007.

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.

Bitcoin 08 July

Perhaps you saw on yesterday when I posted on Twitter:

It was always the idea to blog about Bitcoin today, but Bitcoin was too fast for me:

While that movement has already begun, I’m going to write about it anyway, I guess I’ll just have to type faster than usual…

I am expecting moves in the $1000 (or greater) region by tomorrow.

BTC has been in a (somewhat messy) bullish converging triangle for roughly the last 10 days. The dominant BTC movement at the moment is a rise, and so this “sideways phase” is probably coming to an end.

Thanks to an “over-hyped” phase, followed by an “over-corrected” phase, this triangle is somewhat difficult to spot – fortunately you have me to spot it for you. 😉

The rest is rather simple, as I said earlier, I expect a large price movement. This is to be expected after a period of sideways movement – especially when a converging triangle is in play.

I believe this will either be in the form of a direct price rise, or as a dip down to $10500, followed by a large price rise. The upwards break out of the triangle is an argument in favour of the former scenario: it’s a bullish breakout which will probably run to $12850 and possibly beyond that. The median price line (which is over three months old) is at $12850, so that would be a good place to stop, but momentum may carry it through to the next diagonal Fib at $13700 – or even higher if “over-hype” kicks in again.

The other scenario is that BTC first dips to support and then climbs. That support is the bottom of the diagonal Fib levels – the 0.0 Level – and is defined by the 10 June dip as well as by the over-correction dip of a week ago (which you may recall me calling exactly right – based on these same Fib levels). In support of another dip is the fact that volume has been decreasing over the last five days, though I don’t consider this to be as important as it would appear. I assess that volume also became “over-hyped” at the time of the $13800 price spike in late June and has taken a while to normalise after that. Volume also continues to far exceed the levels of the 2017 bull run, so I think a dip is the more unlikely scenario.

If BTC does dip then the support should catch it at about $10500 before slingshotting it back up towards $12850 and beyond.

I allocate the following probabilities to future scenarios:

  • BTC rises to $12850 and above directly – 45%
  • BTC dips to $10500 and then rises – 30%
  • BTC continues sideways – 10%
  • Something else – 15%

That’s all for now, let be hit the “Publish” button before everything changes or becomes outdated!

Yours in crypto
Bit Brain

Tweets from https://twitter.com/brain_bit
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:

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🗞 Daily Crypto News, July, 9th💰

  • Social Network Taringa! Launches Stablecoin Rewards for 27 Million Users ;
  • Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class ;
  • High-Frequency Trading Is New Battleground in Crypto Exchange Race ;
  • Singapore Wants to Drop VAT for Transacting in Cryptocurrencies ;
  • European Central Bank Exec Calls for Fast Regulatory Action Regarding Libra ;
  • 📑 Daily Crypto Calendar, July, 9th💰
  • STEEM Trading Update

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

🗞 Social Network Taringa! Launches Stablecoin Rewards for 27 Million Users

Latin American social networking giant Taringa! has partnered with MakerDAO and e-wallet provider Airtm to launch a stablecoin-powered points system for its 27 million strong user base. 


According to an official Taringa! news release published on July 7, the development was revealed on Friday during the Blockchain Summit Latam in Mexico City.  


The pilot program, dubbed “Taringa! Pioneers,” will reportedly reward users with points for creating popular platform content, which can then be monetized by being converted into MakerDAO’s Ethereum blockchain-based stablecoin DAI

🗞 Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class

Coming from an organization so tied to the question of identity (whether real or not), it is surprising that Facebook’s Libra coin seems confused about its own.


The organization has chosen to brand Libra “a stable global cryptocurrency,” and the label “cryptocurrency” has been replicated by media around the world. Yet Libra is not a cryptocurrency.


Don’t get me wrong – those of us in the sector appreciate the global attention given to the concept since the announcement.
But in this case the definition matters beyond semantics: it will affect eventual use cases and regulatory treatment. It could also transform how investors view both stablecoins and blockchain-based securities going forward.


What’s in a name?
First, let’s look at why it’s not a cryptocurrency.

🗞 High-Frequency Trading Is New Battleground in Crypto Exchange Race

The Takeaway


High-frequency trading (HFT), a longtime and controversial practice in traditional markets, is becoming commonplace in crypto, too.


Placing trading servers physically close to exchanges’ matching engines can win an edge on speed. This helps HFT firms make large profits in the legacy markets.


Crypto exchanges such as ErisX, Huobi and Gemini are trying to attract large algorithmic traders with colocation offers.
Demand for the service is high, but its benefits are a matter of debate, due to the structure of the crypto market.

🗞 Singapore Wants to Drop VAT for Transacting in Cryptocurrencies

Singapore plans to exempt cryptocurrencies that are intended to function as a medium of exchange from Goods and Services Tax (GST) — the local equivalent of Value-Added Tax (VAT).


The news was revealed in a draft e-tax guide published by the Inland Revenue Authority of Singapore (IRAS) on July 5.


The proposed exemption, if accepted, is set to take effect on January 1, 2020, and will overhaul the current system wherein the supply of digital payment tokens is treated as a taxable supply of services. 

🗞 European Central Bank Exec Calls for Fast Regulatory Action Regarding Libra

European Central Bank executive board member Benoit Coeure said that financial regulators must act fast to prepare for Facebook’s Libra stablecoin, Bloomberg reports on July 7.


Per Bloomberg, Coeure argued on Sunday in Aix-en-Provence in southern France that allowing for the development of new financial services and asset classes in a regulatory void is irresponsible. He concluded:


“We [financial regulators] have to move more quickly than we’ve been able to do up until now.”


According to Coeure, the development of digital assets has exposed gaps in current financial regulations, and underlines banks’ slow rate of adoption of new technologies:


“All these projects are a rather useful wake-up call for regulators and public authorities, as they encourage us to raise a number of questions and might make us improve the way we do things.”

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📑 Daily Crypto Calendar, July, 9th💰

“The world’s first Generalized State Channel Network is scheduled to go live on July 8th!”

“NULS will release the core chain-creation product ChainBox on 8th July(GMT+8), thereafter, begin NULS 2.0 public beta.”

FintruX globally launches the TruX platform at RISE 2019 in Hong Kong, which is scheduled from July 8-11.

“T-3 days until #BitTorrentSpeed is available for 100 million users around the world!”

Dapp (Decetralized App ) demo day on 8th of July.

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yesterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

We are stabilizing on the support line at 0.34$ since days now, waiting for the next big move on the BTC. Let’s really hope that the BTC will go up because if it is not the case, I’m sure that this support line at 0.34$ will be broken just in some seconds and that we will go in the direction of the last low around 0.23$. If it is a UP, first objective is the orange resistance line around 0.39$.

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Last Updates

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Play on a fair STEEM CryptoGaming website !

Join this new Free To Play on the STEEM Platform !

Crypto Contest July 8: GXChain

GXChain (Binance: GXSBTC) 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, GXS began a wave one advance on May 30. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 10, and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, GXS should be heading next towards the June 10 peak in the red wave three.

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

Funnymentals

GXChain is a fundamental blockchain for the global data economy, designed to build a trusted data internet of value. You can view their intro video below.

(Sources: GXChain and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.