STEEM: We probably have touched the bottom already…

… despite the amount of Liquid STEEM deposited at the exchanges keeps growing according to the last weekly post of @penguinpablo (you can read it here), STEEM is showing a strong resistance against sellers.

This is the weekly amount of STEEM withdrawn to the Exchanges:


This is the weekly averaged position of STEEM at The Total Market Cap:

…and this is the current 4h-Chart of STEEM:


The amount of STEEM deposited at the exchanges still is enormous but there is something that has changed since a few days ago.

Exactly 4 days ago the RSI showed us a well formed BULLISH DIVERGENCE when STEEM hit the Bottom of the year, forming as well a double bottom in the long correction.

Maybe Sellers have relaxed a little the tension but what is sure is that we have buyers here so there is a clear interest on STEEM.

And it is clearly sustaining the fall of STEEM at the Total Market Cap… of course, with the permission of BITCOIN. If BTC falls strongly STEEM will be affected as well

Hopefully we have reached an equilibrium at the market that will allow STEEM to recover not only the price but also the visibility.

Enjoy!

@toofasteddie

Litecoin: Why am I Long This Chart Right Now?

If you take a look at the daily chart of litecoin things do not look great from a technical standpoint.  I hold a long-term position and even added on the last bounce even though on the short term things don’t look bullish.

So I ask myself the question…

Why am I Long This Chart Right Now?

Head and shoulders patterns I feel have become less reliable than you would normally assume, but that doesn’t mean we can ignore them.

Look at the chart…..pretty clear head and shoulders top followed by a break down and then rally to the neckline around 100-105 which then failed and here we now have price floating in the middle of no man’s land.

We can easily go back down to text the recent low of 77 and possible lower if it were to fail.  On the other hand bulls can step in a buy out of nowhere (as happens in crypto from time to time) and push price to test that neckline again and possible make the pattern moot.

The point is…

There is no real clear edge….and if there is one then it is biased to the downside.

The funny part it – I don’t have this trendline drawn on the chart but you can see there is an uptrend starting in April going into July that has been broken and then tested on that last little bounce only to fail.

Can you see the uptrend line I am talking about….try to draw it on the chart if not. ?

Bitcoin Bulls Attempt a Rally! Quick Update

Bitcoin continues to consolidate around $10,000. The larger ascending support reminds in tact.

Screen Shot 2019-07-25 at 10.08.47 AM.png

In today’s video we’ll discuss potential next moves (micro and macro), key areas to watch and your questions. 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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Boeing’s Woes Continue

Four months ago, an Ethiopian Airlines crashed killing 149 passengers and eight crew members on board shortly after takeoff. The incident was the second deadly crash of the new Boeing planes in less than five months. A Lion Air Boeing 737 MAX 8 plunged into the Java Sea shortly after taking off from Jakarta in October, killing all 189 people on board.

Immediately after the Ethiopian Airline crash, Ethiopia, China and Indonesia, Caribbean carrier Cayman Airways, Comair in South Africa and Royal Air Maroc in Morocco temporarily grounded their Boeing MAX 8s as a precautionary measure.  This was shortly followed by all 737MAX 8 planes around the world being grounded.

The chart suggested price would fall to the daily demand at $360.

The culprit, Maneuvering Characteristics Augmentation System (MCAS), suspected of reacting to errant sensor data, the solution, a software update.  Today, all 737MAX 8 planes around the world remain grounded.

After Boeing (BA) missed second-quarter earnings expectations by wide margin Wednesday, CEO Dennis Muilenburg stood by expectations that the troubled 737 Max would return to service early in the fourth quarter.

“If any of the timeline assumptions change significantly from a start-of-the-fourth-quarter return to service, then we’ll have to evaluate alternatives,” Muilenburg said. “And those alternatives could include different production rates, they could include a temporary shutdown of the line — not something we want to do, but an alternative that we have to prepare for, I think, is a smart part of our thorough and disciplined process here to make sure we’re covering all scenarios.”

Source

Price did bounce off the daily demand at $360.

but because the woes continue the zone was breached and now the chart suggests, price could fall down to the support level at $300.

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.

? Daily Crypto News, July, 25th?

  • Andrew Yang Super PAC Will Accept Lightning-Powered Bitcoin Donations ;
  • Ripple Sells $251 Million in XRP in Q2 Amid Spike in Institutional Buying ;
  • John McAfee Reportedly Released Following Detainment in The Dominican Republic ;
  • Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years ;
  • US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future ;
  • ? Daily Crypto Calendar, July, 25th?
  • STEEM Trading Update

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

? Andrew Yang Super PAC Will Accept Lightning-Powered Bitcoin Donations

This could be the first time the Lightning Network, a bitcoin scaling solution, officially impacts the U.S. presidential election.


Roughly a dozen bitcoiners who support Democratic presidential candidate Andrew Yang launched a crypto-friendly super PAC on Thursday, Humanity Forward Fund (Humanity FWD). Thanks to the PAC’s payment processor, OpenNode, the entity will be able to accept payments from lightning wallets.


“The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity,” OpenNode CEO Afnan Rahman told CoinDesk. “It allows the donors to have all of the amount go toward the actual donation rather than miner fees.”

? Ripple Sells $251 Million in XRP in Q2 Amid Spike in Institutional Buying

Ripple’s second-quarter report released Wednesday came with a few surprises: a gain, a loss, and a new partner.
The distributed ledger technology firm’s total sales of XRP increased by nearly 48 percent to $251 million in the quarter, outpacing the first quarter’s $169 million in sales.


Direct institutional sales drove the uptick, increasing nearly 73 percent to $107.9 million from $61.9 million. Though programmatic sales still accounted for the majority of sales volumes with $144.6 million made in the second quarter up from $107 million in the first.


Despite this growth, the company states in a forward-looking projection:


“Ripple plans to take a more conservative approach to XRP sales in Q3.”

? John McAfee Reportedly Released Following Detainment in The Dominican Republic

The Senate Banking Committee will hold a hearing on regulatory frameworks for cryptocurrencies and blockchain next week.


The committee said in a press release that it would hold an open session titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain” on July 30, though it is unclear if this would be a fact-finding mission or if any specific pieces of legislation would be discussed.


Circle CEO Jeremy Allaire, representing the Blockchain Association; Rebecca Nelson, a member of the Congressional Research Service specializing in international trade and finance; and Mehrsa Baradaran, a law professor at the University of California Irvine School of Law will testify as expert witnesses.

? Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

Pantera Capital founder Dan Morehead discussed how Bitcoin (BTC) could hit $42,000 by the end of 2019, and even has the potential to reach $356,000 within a couple years. Morehead delivered his comments on an episode of the Unchained podcast on July 23.


Morehead specifically said that he predicts BTC will hit $42,000 by the end of the year, and climb to $356,000 by 2022. Morehead claimed that this would be consistent with the top cryptocurrency’s logarithmic growth rate:


“Graph the price of Bitcoin logarithmically […] its trend is going to grow at 235% compound annual growth rate and […] that put Bitcoin at $42,000 at the end of 2019. And I know this sounds crazy but we’re essentially halfway back there. […] I think it’s a good shot that by the end of the year we hit that. And if you just extrapolate that line out for another year it’s $122,000 per Bitcoin and then one more year, $356,000.”

? US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future

United States Treasury Secretary Steven Mnuchin voiced new bearish views on Bitcoin today, saying that he probably will not be talking about the number one cryptocurrency in as soon as five years. In an interview with “Squawk Box” CNBC on July 24, Mnuchin said:


“I won’t be talking about Bitcoin in 10 years, I can assure you that […] I would bet even in 5 or 6 years I’m no longer talking about Bitcoin as Treasury Secretary. I’ll have other priorities […] I can assure you I will personally not be loaded up on Bitcoin.”


Mnuchin’s latest remarks follow a recent statement about how cryptocurrencies primarily exist as a vehicle for crime and speculative investment, saying, “I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.” 

image.png

? Daily Crypto Calendar, July, 25th?

EOSFINEX Launch

Developer roundtable at 4 PM (UTC) with CTO and ARK delegates to discuss and future development of the Tier-0 program.

“#GOExchange community burns will happen once a month. The first one will be on July 25th.”

SparkPoint ( SRK ) will conduct its 3rd quarter burning of SRK tokens on July 25, 2019.

Meetup with NEO, LagomX, and Coin68 in Ho Chi Minh City, Vietnam from 14:30 – 15:30 (Indochina Time Vietnam Time).

image.png

STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The support line at 0.24$ has been broken during some hours but it triggered an immediate bounce. It shows that this support line is quiet solid, at least from now. I don’t think we will be able to resist if the correction is continuing on the BTC but let’s at least enjoy that little good news. Steem is still alive….

image.png

Last Updates

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Join this new Free To Play on the STEEM Platform !

Where Is The Dax Headed Next???

The US and China have been negotiating for months, bring the Equity Markets along for the ride in hopes that a deal will be made.  But it’s not only the Equity Markets hoping for a deal.  The biggest economy in Europe is also hoping for a deal.

Germany is only expected to grow at a rate of 0.5% this year, according to the latest economic forecasts by the European Commission. It will be the second-worst economy across the EU in terms of growth, just behind Italy.

Germany’s industrial crisis is worsening, the economy is at risk of recession and a raft of mounting troubles mean the chance of a near-term turnaround are fading.

Trade tensions, weaker demand abroad and the travails of the car industry have built up over the past year to take a toll on the engine of Europe’s economy. They’ve dragged manufacturing into its deepest slump in seven years, and some of the nation’s biggest corporate names from BASF SE to Daimler AG and Continental AG have had to come to terms with a new reality for business.

As one of the world’s biggest exporters, Germany is paying a high price for the slowdown in global trade. The economy is forecast to grow the least in six years in 2019. 

The question for Germany is how bad the downturn, once expected to be temporary, will become.

Source

This year the DAX has bounced off of the monthly demand at 10400 and no has been hovering in the monthly supply at 12400.  However, the bullish monthly candle looks like the DAX once to go higher, which in turn will means breaching the monthly supply zone. 

Thus, I will be watching for any signs of weakness for a potential reversal if and only if price closes below the major support/resistance level at 12200.

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.

Cryptocurrency Quarterly Report

 

CoinGecko released its cryptocurrency quarterly report a few days ago. If you don’t know what CoinGecko is yet, then head over to https://www.coingecko.com/en and take a look. CoinGecko is what I consider to be the best of the cryptocurrency tracking websites, and it is a site which I visit (too) many times every day.

The folks at CoinGecko publish a Quarterly Report on the crypto world. It’s a highly informative document: as the name suggests it focuses on the previous quarter, though it does go back further than that where necessary.

I like the reports as they provide a broad overview of the cryptospace. With so many coins, projects, stories and developments in the crypto world, we are forced to somewhat narrow our focus and we tend to suffer from tunnel-vision. I know this happens because I actively try to maintain a broad knowledge of crypto by researching it and reading the latest news each day; but even so I know that projects or events can slip by me unnoticed. The CoinGecko reports are a way to ensure that you haven’t missed out on the most important developments of the quarter.

But the reports are far more than just a news stream, in fact they aren’t a news stream at all. They consolidate the most important information, normally into a graphical format, and then publish it on charts or infographics. This makes everything simple to read and not too laborious.

Let me show you some of what you can find in their latest report. All screenshots below are taken from the “CoinGecko Quarterly Report for Q2 2019”, available at https://assets.coingecko.com/reports/2019-Q2-Report/CoinGecko-2019-Q2-Report.pdf. All rights to the contents of these screenshots belong to CoinGecko, and I share this information under authority expressly granted to be me by CoinGecko via Twitter.

Introduction to the Q2 2019 Crypto Report:

The hype and FOMO are real! Strap on and enjoy this journey; let’s see how far we can fly on this rocket
ship. We hope this report brings you value and helps you stay updated on the constantly changing
cryptocurrency industry.

~ Bobby Ong and TM Lee – Co-Founders of CoinGecko; “Founders’ Notes”; Pg 4

If you’re anything like me, then you like to take a look at long-term chart trends. You CAN work these out mathematically be means of insanely complex MS Excel formulas. I used to do that when I started in crypto, but honestly the effort of maintaining those spreadsheets is not worth the benefits. These days I eyeball trendlines, but confirmation like this from CoinGecko can be used to ensure that my eyeballs are not skew. ?

 

Note how the trendlines are not only upwards sloping, but are upwards curved; indicative not only of growth, but of logarithmic growth (and now you know why I normally use log charts for crypto analysis).

The top coins feature prominently in the report, here CoinGecko gives us their quarterly performance. (*Sarcastic voice* “Oh no, XRP is being left behind, how sad!”)

 

This is a nice one, it shows you how the top 30 coin rankings have changed since the last quarterly report. CoinGecko started publishing regular Quarterly Reports in 2018, prior to that they published two reports in 2017: a Q3 one and an annual one. All their reports are available here: https://reports.coingecko.com/all-reports. Depending on which report it is, some of the reports are available not only in English, but also in Vietnamese, Korean, Japanese, Russian, Chinese and Indonesian! Personally I think that’s pretty impressive!

 

As an analyst, I love this chart. To me this says one thing: Bitcoin is climbing back up WITHOUT even experiencing any hype yet! CoinGecko obviously interpret it the same way I do, look at the two sections which  they have circled…

 

Exchanges feature prominently in the report, just look at how their numbers are growing. There is far more to see in the report itself!

 

Binance in particular gets a lot of focus (unsurprisingly). This page is about its May 2019 hack. There is also a three page sub-section about Binance DEX – all nicely concise and well laid out in an easily readable fashion.

 

I’ve written about the CoinGecko Trust Score before, a feature which I consider to be very good. In case you missed my review of it, don’t fret, you can get it from the horse’s mouth.

 

Another topic which I have written about: (the dreaded) Libra. In addition to the page below, CoinGecko also summarise its whitepaper – great for those who are too lazy (I mean “too busy”) to read it! In all seriousness, I did read the Libra whitepaper and I found it to be nothing more than propaganda and marketing of a centralised pseudo-crypto, but let’s not talk about that now. CoinGecko also capture the various government responses to Libra (so far).

 

IEOs have been very popular this year. I don’t really like this fancy new buzzword (buzz-abbreviation?) for what are really nothing more than ICOs launched by an exchange, but I do like the CoinGecko analysis of them. In a five-page spread, they give a breakdown of the recent IEOs: splitting them by month, exchange (as seen below), amount raised, ROI by project and ROI by exchange. I’m sure you will agree that that is very useful information for a crypto investor to have!

 

There are also sections on the Lightning Network…

 

…and DApps

 

Conclusion

Note that I have not even shown you 20% of what this 45-page report has to offer. It’s long enough to be useful and complete, but short enough not to make you bored or to waste your time. I consider this report to be a job (very) well done and I congratulate CoinGecko on delivering another excellent product. I thoroughly recommend the report to the crypto community. Remember that Bit Brain is not affiliated with CoinGecko in any way, I get no direct benefit for writing this post. As usual, I’m just trying to bring you the best crypto information that I can, information which CoinGecko is good at supplying.

Don’t miss the final page of the report (unless you count “The End” as a page), it contains links to all of CoinGecko’s many social media channels. I follow them on STEEM and Twitter, and of course I use their website, but there are many other options available to those of you who prefer other social media channels or phone apps.

Yours in crypto (which you can find on CoinGecko)

Bit Brain

Cover image from https://assets.coingecko.com/reports/2019-Q2-Report/CoinGecko-2019-Q2-Report.pdf

“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:

Crypto Exchanges:





? Daily Crypto News, July, 25th?

  • Andrew Yang Super PAC Will Accept Lightning-Powered Bitcoin Donations ;
  • Ripple Sells $251 Million in XRP in Q2 Amid Spike in Institutional Buying ;
  • John McAfee Reportedly Released Following Detainment in The Dominican Republic ;
  • Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years ;
  • US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future ;
  • ? Daily Crypto Calendar, July, 25th?
  • STEEM Trading Update

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

? Andrew Yang Super PAC Will Accept Lightning-Powered Bitcoin Donations

This could be the first time the Lightning Network, a bitcoin scaling solution, officially impacts the U.S. presidential election.


Roughly a dozen bitcoiners who support Democratic presidential candidate Andrew Yang launched a crypto-friendly super PAC on Thursday, Humanity Forward Fund (Humanity FWD). Thanks to the PAC’s payment processor, OpenNode, the entity will be able to accept payments from lightning wallets.


“The super PAC obviously wants to receive donations as large as possible. But at the same time, individuals who want to donate just a bit to Yang’s platform now have that opportunity,” OpenNode CEO Afnan Rahman told CoinDesk. “It allows the donors to have all of the amount go toward the actual donation rather than miner fees.”

? Ripple Sells $251 Million in XRP in Q2 Amid Spike in Institutional Buying

Ripple’s second-quarter report released Wednesday came with a few surprises: a gain, a loss, and a new partner.
The distributed ledger technology firm’s total sales of XRP increased by nearly 48 percent to $251 million in the quarter, outpacing the first quarter’s $169 million in sales.


Direct institutional sales drove the uptick, increasing nearly 73 percent to $107.9 million from $61.9 million. Though programmatic sales still accounted for the majority of sales volumes with $144.6 million made in the second quarter up from $107 million in the first.


Despite this growth, the company states in a forward-looking projection:


“Ripple plans to take a more conservative approach to XRP sales in Q3.”

? John McAfee Reportedly Released Following Detainment in The Dominican Republic

The Senate Banking Committee will hold a hearing on regulatory frameworks for cryptocurrencies and blockchain next week.


The committee said in a press release that it would hold an open session titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain” on July 30, though it is unclear if this would be a fact-finding mission or if any specific pieces of legislation would be discussed.


Circle CEO Jeremy Allaire, representing the Blockchain Association; Rebecca Nelson, a member of the Congressional Research Service specializing in international trade and finance; and Mehrsa Baradaran, a law professor at the University of California Irvine School of Law will testify as expert witnesses.

? Pantera Capital CEO Believes Bitcoin Could Reach $356,000 in a Couple Years

Pantera Capital founder Dan Morehead discussed how Bitcoin (BTC) could hit $42,000 by the end of 2019, and even has the potential to reach $356,000 within a couple years. Morehead delivered his comments on an episode of the Unchained podcast on July 23.


Morehead specifically said that he predicts BTC will hit $42,000 by the end of the year, and climb to $356,000 by 2022. Morehead claimed that this would be consistent with the top cryptocurrency’s logarithmic growth rate:


“Graph the price of Bitcoin logarithmically […] its trend is going to grow at 235% compound annual growth rate and […] that put Bitcoin at $42,000 at the end of 2019. And I know this sounds crazy but we’re essentially halfway back there. […] I think it’s a good shot that by the end of the year we hit that. And if you just extrapolate that line out for another year it’s $122,000 per Bitcoin and then one more year, $356,000.”

? US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future

United States Treasury Secretary Steven Mnuchin voiced new bearish views on Bitcoin today, saying that he probably will not be talking about the number one cryptocurrency in as soon as five years. In an interview with “Squawk Box” CNBC on July 24, Mnuchin said:


“I won’t be talking about Bitcoin in 10 years, I can assure you that […] I would bet even in 5 or 6 years I’m no longer talking about Bitcoin as Treasury Secretary. I’ll have other priorities […] I can assure you I will personally not be loaded up on Bitcoin.”


Mnuchin’s latest remarks follow a recent statement about how cryptocurrencies primarily exist as a vehicle for crime and speculative investment, saying, “I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.” 

image.png

? Daily Crypto Calendar, July, 25th?

EOSFINEX Launch

Developer roundtable at 4 PM (UTC) with CTO and ARK delegates to discuss and future development of the Tier-0 program.

“#GOExchange community burns will happen once a month. The first one will be on July 25th.”

SparkPoint ( SRK ) will conduct its 3rd quarter burning of SRK tokens on July 25, 2019.

Meetup with NEO, LagomX, and Coin68 in Ho Chi Minh City, Vietnam from 14:30 – 15:30 (Indochina Time Vietnam Time).

image.png

STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The support line at 0.24$ has been broken during some hours but it triggered an immediate bounce. It shows that this support line is quiet solid, at least from now. I don’t think we will be able to resist if the correction is continuing on the BTC but let’s at least enjoy that little good news. Steem is still alive….

image.png

Last Updates

image.png

Join this new Free To Play on the STEEM Platform !

Crypto Contest July 25: Maecenas

Maecenas (Bittrex: ARTBTC) 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, Maecenas began a wave one advance on May 12. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 18, and the red wave two (blue sub-waves a-b-c) correction ended on June 30. If this wave count is correct, Maecenas should be heading next towards the May 18 peak in the red wave three.

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

Funnymentals

Maecenas is a decentralised art gallery auction market, aimed to democratise access to fine art. You can watch their presentation below.

(Sources: Maecenas and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Unusual Options Activity In On Semiconductor Corporation

The Semiconductors have been on fire as of late.  Taiwan Semiconductor Manufacturing Company (TSM) is the world’s largest manufacturer of semiconductors beat analyst estimates for sales for this past quarter and signaled a rebound in the chip sector.  Memory chipmaker Micron Technology (MU) reported better-than-expected earnings and say it expects demand to recover in the second half.

Today a couple of more semiconductor companies reported earnings today.  Yesterday, Texas Instruments and Teradyne, automatic test equipment vendor reported their second-quarter earnings results. Both companies reported better-than-expected earnings and guidance.

ON Semiconductor Corporation manufactures and sells semiconductor components for various electronic devices to companies in the automotive, consumer, computing, industrial, communications, medical, and aerospace/defense markets.

ON Semiconductor Corporation reports earnings on Aug 5th.  Today the Smart Money bought over 15, 000 call options with a strike price at $23 that expired on Aug 16th

I would say they are off to an awesome start as the stock price jumped over a $1 today to close at $22.32.   However, there are overhead sellers at the weekly demand at $24, just above the level where these options become profit.  I tell you, the Smart Money sure does know how to pick the right levels.

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.