Bitcoin Bears Land A Punch…Bulls Try to Shake It Off

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.

Screen Shot 2019-07-10 at 5.11.42 PM.png

The daily chart shows the bulls are putting up a fight, defending the 8 day EMA.

Screen Shot 2019-07-10 at 5.12.26 PM.png

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.

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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BITCOIN: Alternative count…

for an invalidated Bullish count…

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.


Liberland news

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.

BITCOIN: Correcting but still upwards?

Quick update here…

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.

Forex Price Action Baby, No Technicals or Fundamentals…Trade #22 – Sold AUD/CAD (7/10/19)

10,000 Ft View – Daily Chart

Lets zoom in for the trade set-up. The sellers took out the pivot low, then the next day price returned to the zone.

NOTE: I would have like to see the price move at least 2X the supply zone, the Canadian dollar is stronger than the Aussie dollar at present time.

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

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.

Nio…Isn’t A Buy Yet

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.

Source

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.

Crypto Contest July 10: Fantom

Fantom (Binance: FTMUSDT) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

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.

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

Funnymentals

Fantom is the nervous system for smart cities. You can find the CEO presentation below.

(Sources: Fantom and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

🗞 Daily Crypto News, July, 10th💰

  • Bitcoin Price Eyes Move Above $13K as Dominance Rate Hits 2-Year High ;
  • IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity ;
  • Facebook to Senators: Libra Crypto Will Respect Consumer Privacy ;
  • Bitcoin’s Mining Difficulty Just Posted Its Biggest Increase Since 2018 ;
  • Facebook Has No Plans for Calibra or Cryptocurrency in India ;
  • 📑 Daily Crypto Calendar, July, 10th💰
  • STEEM Trading Update

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

🗞 Bitcoin Price Eyes Move Above $13K as Dominance Rate Hits 2-Year High

View

Bitcoin’s violation of recent bearish lower highs with a move above $12,061 has opened the doors for a retest of $13,880.


Prices reinforced the bull breakout with a successful defense of the former resistance-turned-support of $12,061 soon before press time.


Bitcoin’s dominance rate has spiked to 27-month highs, backing the uptrend in prices.


A high-volume UTC close below $12,000 would abort the bullish view.

🗞 IRS Allegedly Hopes to Make Tech Giants Release User Crypto Activity

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 to Senators: Libra Crypto Will Respect Consumer Privacy

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’s Mining Difficulty Just Posted Its Biggest Increase Since 2018

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 Has No Plans for Calibra or Cryptocurrency in India

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.

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📑 Daily Crypto Calendar, July, 10th💰

The mainnet launch will be the kickoff for enterprises to provide their idle cloud resources in the Ankr application.

“In 104 hours $Waves blockchain is going to change forever! just 4 days. #dapps are coming home to #wavesplatform.”

Zcoin releases version 13.8.1.

“On July 10, PundiX and Binance will have a meetup in Medellin Colombia ”

“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.”

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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

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.

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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 !

Currency Analysis Report 7/9/19 – How Much Lower Will The British Pound Go???

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

Source

So are there any significant buyers below current price, lets go to the charts to find out?

Based on the monthly chart, the all-time lows sitting at 1.20000.

Based on the weekly chart, the trend is down.

Based on the daily chart, the chart suggests price is heading down to the daily demand at 1.2200.

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.

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