Yesterday we discussed major resistance at $12,950. Bitcoin needed to decisively penetrate this zone in order to continue its bullish momentum. Bears were having none of it as price was rejected, falling as low as $11,550 before finding support.
The daily chart shows the bulls are putting up a fight, defending the 8 day EMA.
In today’s video we discuss where price may go from here, traps to avoid, key areas to watch and so much more. I hope you find it helpful.
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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Recognizing that my previous count, bullish, has been recently invalidated…
Does not look to be an alternative bullish count right now, the correction is not finished and what I see fro the moment is a possible 3-3-5 FLAT Correction.
Hope I am wrong, but if not, 9400 USD should be the stronger support…
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.
Danielle Sremac, former Serbian candidate for President and the President of Liberland met to discuss cooperation on development of free trade zones in the Balkans.
It is clear that 13000 USD is a very strong resistance level. BITCOIN is now correcting after touching that value in the past few hours.
However, I am still confident of considering 14500 USD as a realistic target as planned 6 days ago in this post .
Also because I think this correction is forming the 4th wave of the Violet 5-waves count, so, still a 5th is missing.
This correction may “enrolled” further buyers who felt that they were late a few hours ago and I believe it should push again the price upwards…If so, a new Year’s High will come and the current resistance at 13000 USD will become our newer support.
The only thing I hope is that the new wave up will come mainly from “Fresh” FIAT and not mainly from the altcoins which are really being devastated by the Crypto King, including STEEM of course.
@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.
Shares of Nio Inc. soared in active trading Tuesday as the China-based electric car maker sped toward its biggest six-day rally since going public.
The stock NIO, +5.73% shot up 6.2% in afternoon trading toward a sixth-straight gain, and the highest close since May 28. Volume swelled to over 76.8 million shares, enough to make the stock the most actively traded on major U.S. exchanges, and nearly double the full-day average of 38.8 million shares.
The stock has now rocketed 45.5% during its win streak, which would be the biggest six-day gain since Nio went public on Sept. 12, 2018.
Nio is the newest Tesla competition and manufactures and markets electric vehicles in China. Nio already has a vehicle in production and has delivered such models as the EP9, EVE, and ES8 to the market.
However, due to uncertainty around China’s economy, the status of a government subsidy for buyers of electric vehicles and delays in building their own factory, the stock price has declined in recent months. Most recently, in May 2019, China posted the worst ever sales decline and it marked the 11th-consecutive monthly decline in car sales…thanks to the US-China trade war.
Thus, Nio isn’t a buy yet fundamentally and from a technical standpoint, the chart suggests the buyers must take out the sellers at the weekly supply at before considering Nio a buy.
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.
In Elliott Wave terms, Fantom began a wave one advance on June 26. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 3, and the red wave two (blue sub-waves a-b-c) correction ended on July 8. If this wave count is correct, Fantom should be heading next towards the July 3 peak in the red wave three.
The United States’ Internal Revenue Service (IRS) is allegedly considering requiring tech giants to report on crypto activity by users, according to a presentation reportedly from an IRS presentation and provided by a Twitter user on July 9.
According to the documents shared, the IRS hopes to use Grand Jury subpoenas on firms such as Apple, Google and Microsoft to check taxpayers’ download history for crypto-related applications.
Known as Crypto Tax Girl,Laura Walter, certified public accountant and crypto tax specialist, tweeted the presentation, which was allegedly for agents in the IRS’s Criminal Investigation division.
Facebook blockchain lead David Marcus told U.S. lawmakers that the social media giant plagued by privacy scandals won’t have access to personal financial information with its new cryptocurrency.
In a letter dated Monday to the Senate Banking Committee responding to pointed questions the lawmakers sent in May, Marcus took a diplomatic tone, acknowledging the panel’s concerns about data privacy and telling them:
“I want to give you my personal assurance that we are committed to taking the time to do this right.”
A similar letter was sent to the House Financial Services Committee, the Hill reported earlier Tuesday.
Bitcoin mining difficulty – a measure of how hard it is to compete for mining rewards on the world’s first blockchain network – has posted its largest two-week increase in 12 months.
According to BTC.com data, mining difficulty reached 9.06 trillion (T) at block height 584,640 around 9:17 UTC on July 9, surpassing the previous record of 7.93 T by 14.23 percent. This was the strongest growth in any two-week period since August 2018 – a sign that competition among miners is not only intensifying but doing so at an accelerated rate.
The bitcoin network is designed to adjust its mining difficulty every 2,016 blocks (roughly 14 days) based on the participating mining power in each cycle, in order to ensure the block-producing time at the next period stays at about every 10 minutes.
Facebook Inc has no plans to offer its Calibra digital wallet services in its largest market, India, the social giant said, just as a top government official expressed skepticism about its newly-announced cryptocurrency Libra.
“There are no plans to offer Calibra in India,” a Facebook spokesman said in an email, effectively ruling out the rollout of its Libra cryptocurrency in the country. “As you may know, there are local restrictions within India that made a launch of Calibra not possible at this time.”
India’s central bank, the Reserve Bank of India, has banned banks from dealing in cryptocurrencies but informal networks abound. In an effort to curb them, the government is proposing a law with stringent penalties, including prison sentences of up to 10 years. Subhash Garg, the country’s economic affairs secretary, said in an interview to Bloomberg that India would not be comfortable with a private cryptocurrency.
“Interested in building on #EOSIO? Join us on July 10th from 8-10am (HKT) for a walkthrough of all you need to know about getting started.”
STEEM Trading Update by my friend @cryptopassion
Here is the chart of yesterday :
Here is the current chart :
So most of the altcoins are still in depression mode and for sure it is also the case on the STEEM. Since yesterday, we are trying to break the support around 0.34$ but till now, we are lucky and that line is holding us. For how many times, I really don’t know but let’s at least enjoy that little positive news.
The pound slumped to a two-year low as signs of economic downturn mounted in a market increasingly betting that policy makers will have to cut borrowing costs.
The currency reached its weakest level since April 2017 as disappointing retail sales and suggestions that the U.K. economy could be set for its worst quarter since 2012 sapped sentiment. The bleak economic outlook is adding to risk factors for sterling, with money markets pricing in a rate cut by the Bank of England next year.
The pound has fallen about 2% since Prime Minister Theresa May indicated that she would be stepping down
