ZIL seen from the temporality of 1D we can see how the structure of candles is in important zone of demand, the price has formed an LH so we can draw a diagonal trend between the previous minimum and the current as I have done in the chart above.
ZIL seen from the temporality of 4H we can observe more closely the movement of the price, we have a very bullish setup, we see that the price has made a pullback with which it has recovered the support located at 0.01617, has not yet tested the support, but this seems to be a good sign of a larger bullish movement, because although it has not tested the support is consolidating very well in the ITZ located at 0.01651, it seems that the price is ready to test the resistance located in the 0.01782 and look for the break to the rise of the setup, of obtaining it in the next hours possibly the price will arrive at our objective indicated in the image inside a blue rectangle that is located within the range of the price of the 0.02083 – 0.02143, this is an important zone to take profits before a retrocession.
In conclusion, the price has formed an inverted SHS setup, the most bullish setup, we have bullish divergence in the current formation, we should have a strong upward movement very soon, ZIL is in good time to buy, I recommend paying attention to the next candles in H1, the price could fall back to test the support at 0.01617 but should not fall below the horizontal or diagonal trend as such movement would invalidate the setup.
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.
Trading can be difficult, especially in the volatile cryptocurrency market. Very few people can honestly claim to make consistent profits day trading. Like any skill, becoming a successful trader requires countless hours of studying and practice. Most people gain experience by trading with real money. This almost always results in a loss, at least initially. THERE IS A BETTER WAY!
Paper trading is a risk free way to learn how to trade, test new strategies or just sharpen your skills. All without actually risking capital. This video will show you how to freely use the paper trading function on Tradingview. I hope you find it helpful!
As discussed in my last video, bitcoin did slightly correct down to about $12,100 before finding support. It’s now trading around $12,500. Daily volume is climbing.
Looking at the daily chart, we can see price approaching a critical zone around $12,950. We’re seeing clear visual resistance as well as the top daily Bollinger bands converging at that area.
In today’s video we discuss where price may go from here, key areas to watch, my Elliot wave count (per your request) and so much more. I’ll also answer some your questions. I hope you find it helpful.
Anyone who follows Litecoin knows two things. One of which is that the halving is happening in roughly 26 days. At that point each mined block will be worth 12.5 coins rather than 25.
Second is the fact that litecoin had a nice bull run prior to BTC and much of that is assumed to come from the speculation of price running up into the halving.
Pausing to Pick up Steam or Already Passed the Peak?
There are a dozen ways to skin a cat as they say. So when you look at the prior litecoin halving you will see stats that show a 400% percent run up into the halving, you will also see data that points out the top of that run was about 7 weeks prior to the actual event.
So the question is if history will repeat itself. With the halving just under 4 weeks away and LTC topping out at 147 roughly 3 weeks ago the ingredients are there for a repeat of history.
We are not in a vacuum and apples aren’t oranges
The market now compared to 2015 (the last halving) is very different. LTC wasn’t on exchanges like coin base and many others back then. The market was very crypto fan centric then as opposed to having some average joe and institutional influence now.
I won’t dare use the term “this time it’s different” – famous last words of many.
However, I will recognize the different environment and act accordingly.
What is the chart saying?
In the end the price chart is old reliable for me. It allows me to figure out probabilities and enter appropriate risk-reward scenarios.
Looking at the daily chart…
I see price consolidating after breaking down from the ascending channel formed in the 2 month bull run.
They keys is price tested and held that 108 area support after breaking the channel. Looking at the daily chart the conclusion is a coin flip in my opinion.
Price could test 108 or even push lower considering it made a lower high after bouncing off support. It could also push higher after digesting that large two month run in anticipation of the halving.
Either way, no clear edge in my opinion. Advantage = neither direction.
However, let’s see what the weekly chart gives us, how does that price action look?
They weekly view makes me feel a bit bullish. You can see after the run up price made an orderly pullback to that key 108 area and held it while letting the 10 period moving average catch up.
I really like that price is not extended on the weekly anymore relative to the 10 period as that average has acted as a good guide for when not to chase price and as possible entry point on a pullback in a bull run.
Basically as long at price is above 108 I’m long. If we close below there then price seeing 100 would not be a surprise.
As for the upside, well that high at 147 would be the target if we see a run into the halving.
To trade or not to trade
From a pure risk-reward profile, if I were to add a new long here at 120 with anticipation of a run to the high then that would offer me a just over a 2 to 1 risk-reward on my money.
Not the greatest ratio but above my minimum threshold of 2 to 1 or better.
Either way we should get some kind of move soon as price has been consolidating a bit.
I’d of preferred to see price tick up over the last couple days with BTC pushing, but we don’t always get what we want.
I’m holding my long-term bag for now along with the handful of coins I added a few days back.
Gold prices can continue to climb even after they hit a multi-year high last week, a global investment strategist said Monday.
In fact, prices are set to “reach $2,000 by the end of the year,” predicted David Roche, president and global strategist at London-based Independent Strategy.
Gold prices have been on an upward trend amid recent expectations of a Federal Reserve interest rate cut and heightened geopolitical concerns — conditions that might weigh on the stock market, according to Roche.
“I actually believe financial markets are now poised to crumble like a sand pile,” he told CNBC’s “Squawk Box.”
Despite gold price breaking a major multi-year major resistance level at $1400, $2000 by the end of the year is a bit aggressive.
And with the likelihood of the Powell lowering rates following the strong jobs report last Friday, declines in the US dollar should stabilize, which will put a ceiling on gold prices at least short term. In additional, in order for David to be right, price would have to breach the monthly supply zones at $1600 and I don’t see that in the cards for gold prices this year. Nevertheless, if you don’t have gold in your portfolio, you should consider adding some to your portfolio.
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.
If you don’t know that, then you obviously don’t read my blog often enough, what’s wrong with you?
What I WILL do is to give you some amazing suggestions based on coins and tokens which I already hold. I’m about to do just that.
Ah yes! Still my favourite low market cap coin and still ridiculously cheap, CargoX has some more good news for us. Having already succeeded in launching their “Smart B/L” product, CargoX continued to work on their Blockchain Document Transaction System (BDTS). It’s more than just a big name. In their latest move, they have added a “Smart L/C” to the BDTS platform.
According to their monthly email, the Smart L/C has been developed, but still requires testing. Once completely tested and integrated, it and the Smart B/L (Bill of Lading) will enable CargoX to make paper documentation in logistics transactions a thing of the past. While the shipping industry that CargoX targets is still slow to embrace change, I believe that it’s just a matter of time before they realise the cost savings to be had by using this platform. I remain extremely bullish on CXO.
Perhaps, I’m not the only one realising this: Since mid-June, the volume of CXO has risen by approximately 3x. Better still: while it was often traded more on CoinTiger than on KuCoin, that relationship has now been completely reversed. KuCoin trades (specifically the CXO/ETH pair) now far outweigh CoinTiger trades. This means that the KuCoin CXO/ETH pair has actually grown in volume by a factor of about 9! (From around $10000/day to $90000/day.) With KuCoin being one of the most trustworthy exchanges out there (according to the recent “reported vs actual volumes” exchanges study by The TIE) this is very good news for CXO!
Which brings us to…
My favourite exchange and the home of KuCoin Shares (KCS) is at it again. I can not believe how much good news is coming from this wonderful exchange!
“KuMEX will firstly open the Bitcoin Perpetual Contract (XBTUSDM) which is quoted in USD and denominated in Bitcoin and offers up to 20 times leverage. The platform currently supports three types of order: limit order, market order and stop order. After the official release of KuMEX, the platform will use 50% of the net revenue from KuMEX for KCS Bonus distribution for KCS holders.”
While I am strongly against derivatives trading of crypto, especially with leverage, I realise that not everybody thinks that way. This should be a popular platform that will contribute greatly to the exposure of KuCoin. From the quote above, we can also see that it should have massive benefit for KCS holders.
Of course ever since Binance announced that Binance.com would be shutting down US operations in September, crypto traders have been rushing to find other good exchanges. I immediately noticed the interest grow in Nash Exchange (NEX) and KuCoin. But as of late June, this suddenly really kicked into gear: KuCoin volume has skyrocketed!
But wait, I’m not done with KuCoin yet! They also implemented a new weekly temporary KCS token “Buy Back and Burn Plan” which will run for the duration of Q3 2019. I’m afraid that I don’t have much information on why this has been implemented or what is to replace it in Q4, but it will run in addition to the existing quarterly token burns (which you can track here: https://kcs.kucoin.com). This is more great news for KCS holders – people who already get free KCS dividends paid to them daily! KuCoin state that they will use 10% of profits for token burns and that this Temporary Plan will “substantially increase” the amount of KCS that is burnt. How long have I been telling you to buy KCS now?…
In 2015, the Ethereum public mainnet launched, followed by a raft of private blockchain offerings targeting the enterprise. This opened the floodgates on companies prioritizing collaboration, funding long-overdue digitization efforts, and extending business processes across corporate borders.
Today, a new epoch of system integration is underway. However, efforts to make blockchain technology enterprise-friendly split the community into two camps: public networks versus private networks. The dichotomy was wrong-headed from the start, making it easy to believe that public blockchain networks shouldn’t be used in confidential business operations and that private networks were safe and secure.
The first belief is wrong, and the second is dangerous.
The New York Attorney General’s Office (NYAG) has submitted new evidence in its aim to prove that crypto exchange Bitfinex and Tether had served New York customers longer than they claimed.
As part of the NYAG’s ongoing investigation into Bitfinex and Tether, the NYAG filed a Memorandum of Law in Opposition, an affirmation, as well as a total of 28 pieces of exhibits on July 8, with the New York Supreme Court.
The NYAG said in the new documents: “Even a cursory examination of the facts gathered to date in the OAG’ s investigation shows that Respondents have extensive and consistent contacts to New York concerning the matters under investigation.”
According to the joint statement, the organizations have yet to discover a set of circumstances in which a crypto custodian could comply with the SEC’s Customer Protection Rule, which is described as follows:
“Put simply, the Customer Protection Rule requires broker-dealers to safeguard customer assets and to keep customer assets separate from the firm’s assets, thus increasing the likelihood that customers’ securities and cash can be returned to them in the event of the broker-dealer’s failure.”
The Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. It is part of a broader push to boost the nascent cryptocurrency industry. Congress is considering at least three bills that would resolve some of the murky legal issues surrounding digital money.
“Chainlink Integration Engineer Thomas Hodges is leading a meetup in Plano, TX next Tue July 9th.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
The market is currently trying to break the support line at 0.34$… It is quiet sad because when BTC is doing nice UP, STEEM is dropping and when BTC is doing a correction, STEEM is droping also… To resume it, we are not able anymore to add value to our blockchain….
I start to be really worry for our little coin because if all of that continue, yeah we will finish to be outside of the Top100, we will have less volume, less investors and all that, whatever the improvements that we will have…
In Elliott Wave terms, ZB began a wave one advance on June 4. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 30, and the red wave two (blue sub-waves a-b-c) correction ended on July 2. If this wave count is correct, ZB should be heading next towards the June 30 peak in the red wave three.