Breaking out a fireplace part III – Plastering done!

This was meant to be separate posts but my progress was so slow I thought it may as well be one. Now keep in mind I have no training in plastering or rendering, all I know I learnt by trial and error.

To start off with I bought two 25 kilogram bags of river sand and five kilograms of cement. I ran out of cement in no time at all.

Moreover, the cement I bought was some ultra fast setting cement, so I had very little time to work the plaster before it would start setting. This was a pain and led to a really bad finish.

The fact that I have not plastered in years also did not help. Here you can see the results of my efforts. It does not look good at all.

I ran out of that cement pretty quickly, so asked my wife to buy more, this time a 25 kilogram bag. The hardware store unfortunately sold her refractory cement. I noticed as I was taking it out of the car, my wife did not as someone else helped her and put the bag into the car for her.

Well, the city is not exactly close, so I decided to work with what I had, if it did not work then I would have to just buy another bag. My haste stems from the fact that I am doing the bulk of the work after hours, so any delay basically sets me back a day.

As you can see in the above 2 photo’s it seemed to actually work pretty well.

It was still not great and I put that down to the sand. I managed to work through the 2 bags I had bought earlier. Again my wife went to buy the supplies for me whilst I was at work. The sand she bought from a local hardware supplier had a much finer aggregate. More sand and less pebbles.

With the new sand and the darker cement I finally managed a finish that I felt was good enough. I had enough time to work it, and still go back and integrate the multiple batches that I had applied.

Nearing the end, getting the new cement and the old to match has proven difficult as the old plaster is quite uneven and rough. I blended it as best I can.

There are still some ugly patches, these will be hidden by the stove though. If it is really bad once painted I will make an attempt at fixing it though.

A few closer pictures of the wall. What remains now is to paint and patch some tiles in the gap left by the fireplace. I will take a photo of the tiles and try get a box that at least matches the existing tiles closely.

At least the bulk of the hard work has been done. I am looking forward to slapping some paint on it, once the plaster has had a few days to dry though.

BITCOIN: What’s your bet…

Since volume keeps on diminishing and trading activity slows down due to narrowing prices I am trying to get the most positive scenario thus I am considering the possibility of being in a “Falling Wedge” Pattern:

The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam. When this pattern is found in an uptrend, it is considered a bullish pattern, as the market range becomes narrower into the correction, indicating that the downward trend is losing strength and the resumption of the uptrend is in the making. (Source)

If this pattern is triggered, the most likely result would be the continuation of the trend previous to the pattern, so UPTREND…towards 14000 USD.

But then, you have another pattern in formation, this time is the other face of the coin…

Yep, a very bearish pattern here, pointing towards 4800 USD.

In my opinion, nowadays we have a 50/50 chances on one of the both options so, very difficult to take a decision now… we have to wait for one of the two get triggered and follow the trend.

What about you?

Let’s see what is the opinion of the audience here.

I am curious to read what is your opinion about which of the two proposals are more likely to happen next. I will upvote all the comments on that regards.

Enjoy!

@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 $1 MM Challenge (7/29/19) – Recent British Pound Trades

The pound is the major talking point as we begin the new week as the currency falls to fresh 28-month lows amid increasing chatter of a no-deal Brexit by Boris Johnson’s ‘dream team’ since the weekend.

Gove got things started by saying that the government is now operating under the assumption of a no-deal outcome and Raab kicked things into overdrive by pointing the finger to European leaders, thus turbo-charging the pound’s decline.

Source

The British Pound has been bearish since mid-March and although price is near higher time frame demand zones, in recent days I shorted two pound pairs on pull backs. Because price is near higher time frame demand levels, my targets are what I consider pretty tight.

Forex $1 MM Challenge – Trade #18 (7-25-19) Sold GBP/CHF

Monthly Chart (Curve Time Frame) – monthly supply is at 1.47000 and monthly demand is at 1.22000.

Daily Chart (Entry Time Frame) – although price is in higher time frame demand, the chart suggests price can move lower and to short price at the daily demand at 1.23900.

NOW

Forex $1 MM Challenge – Trade #18 (7-19-19) Sold GBP/CAD

Monthly Chart (Curve Time Frame) – monthly supply is at 1.90000 and monthly demand is at 1.58000.

Daily Chart (Entry Time Frame) – the chart suggests to short price at the daily supply at 1.64000.

NOW

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.

BNB technical analysis

BNB seen from the temporality of 1W we can observe a bearish structure, the price after finding resistance at 0.0043046 has ended up making three bearish candles to finally find demand zone at 0.0027506, the consolidation in that support has not been defined towards which direction will be the break, we see that bears are preventing the candles close above 0.0029989, if we continue like this, the price could break the consolidation down and continue with the downward structure, the main demand zone I have located at 0.0012657, where the price at that point should have a very large bullish momentum.

BNB seen from the temporality of 1D we can observe more closely as the price is creating a reversal setup trend, the pattern is not yet confirmed, the candles could do a throwback to the blue horinzontal that I have drawn in 0.0027506, if you can test it as a support and we see a next bullish candle we could have a rebound to the resistance located at 0.0034230, otherwise, the price could fall below the horizontal and test it as resistance and continue to fall.

In conclusion, the major structure is bearish, the price of BNB should continue to fall until reaching the support located at 0.0012657, we could have a rebound in 1D, however, while the price does not take as support 0.0034230 and continue to rise, the price will see it falling further. Keep in mind that the price of BTC is with the same structure and should continue to lower affecting the alts market in general, the volume of the alts with their pairs in BTC is still very low in most currencies, so I recommend to be very attentive to the movement of candles in 1D and observe the action of the BTC price.

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

Bulls Trying to Hang On

Price is once again consolidating on top of the $9,400 support after a quick drop to $9,100. The larger ascending support line seems to have turned into resistance.

Screen Shot 2019-07-29 at 9.55.13 AM.png

In today’s video we’ll discuss where price may be heading next, 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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Mohawk Industries Inc. Just Got Scalped

Mohawk Industries, not a household name, but Mohawk Industries is a leading global flooring manufacturer for remodeling and new constructions of residential and commercial markets. From carpet, rugs, ceramic tile, laminate, wood, stone and vinyl flooring, Mohawk supplies it. Its core brands include: American Olean, Daltile, Durkan, Karastan, Marazzi, Mohawk, Pergo, Unilin, Quick-Step and IVC.

Mohawk Industries Inc. reported their second-quarter earnings on Friday.  They beat profit expectations, but missed on revenue.  In addition, forecasted a dismal third quarter.  The news was enough to send the stock down double digits making them the biggest decliner listed on the NYSE.

Mohawk CEO Jeffrey S. Lorberbaum said in a statement that “most markets we operate in remain soft, with pressure on volume and pricing, and we anticipate the environment to remain difficult.”

Lorberbaum said Mohawk is taking action to address the uncertain business environment, with plans to streamline operations, consolidate facilities, and take out higher-cost assets. “We are reducing overhead structures and controlling investments,” he said. “We are improving our administrative costs while investing in sales to support new products and enter new geographies.”

Source

Given the recent news on the state at Mohawk Industries, the chart suggest price is going to retest the weekly demand at $105.

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.

Wall Street Googling Over Goggle

Three months ago, Google reported revenue of $36.3 billion, up 17% over the previous year.  Google’s ad revenue consisted of 85% of that revenue or $30.7 billion which was up from $26.6 billion.  The company said they remain focused and excited by significant growth opportunities across their other business.  However, Wall Street didn’t want to hear that.  They wanted to know why the ad revenue growth decelerated from 24% a year ago to 15%.    I think what really pissed Wall Street off was Google didn’t have any real answer, so the they dropped the price big time.

This past week, Google reported their second quarter earnings. Revenue increased 19.3% year over year to $38.944 billion, accelerating from 16.7% growth in the first quarter, beating estimates by nearly $800 million. Net income for the quarter climbed to $9.947 billion, up nearly 21% year over year and ahead of expectations.  Equally important, ad revenue rose 16.1% to $32.601 billion.

In the second quarter, annual paid click growth for Google properties continued slowing, dropping to 28% from a first-quarter level of 39%. But this was more than offset by the fact that CPC only fell 11% — a much smaller decline than 19% in the first quarter and also the smallest drop Google has seen in three years.

Porat mentioned on the call that “the benefits of applying machine learning” have boosted ad sales on Google properties, but didn’t offer additional details. In the past, Google has talked up its use of machine learning to help advertisers (including small businesses) optimize their ad campaigns based on goals such as maximizing ad clicks, sign-ups or revenue.

Source

Price is back in monthly supply, but the chart suggests, potential all the unfilled sell orders have been used up and so Google has a shot of reaching all time new highs in the near future.

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.

Planning for an Outlier Outcome on BTC

https://www.tradingview.com/x/GKvr8a9g/

Opportunity is a haughty goddess who wastes no time with those who are unprepared.

George S. Clason


No TA expertize is required to see that the short-term chart is clearly bearish. The general consensus seems to be a drop to 8.5k, filling the CME gap, or roughly 7.5k, resting on the 200 day EMA. Many analysts also point out the likelihood of the market front running this decline and therefore lessening it or an overshoot briefly dropping price well below the 200 EMA.


The majority of analysts see a quick rebound from these levels an analysis I myself share.

As a consequence, I have laddered buys on BTC at 8.8/8.6/8.4/7.8/7.6/7.4/7.2 and 6.8 (largest entry).

These are all small buys representing in total 30% of
my currently allocated new capital for BTC.

However, the majority of my investable capital remains side-lined and this is why.


Hunting the Outlier Opportunity

If BTC hasn’t in fact bottomed-out – a decline to 1.5k
is still in play.

Is this likely -no.

Is this off the table – no.

Why 1.5k – well this is simply a reference point – lower than the previous low of 3.1k is my point of focus.


Why Care?

A 1.5k BTC would constitute, in my opinion, an unlikely to be revisited entry point opportunity. No doubt should the price collapse to such levels the doomsayers will be legion – all is lost will be the dominant narrative and that narrative will be completely wrong.

Now do your own research here but from the multi-year research I’ve conducted, BTC would in no way be fundamentally undermined by a drop to sub 2k. Of course, some miners would shut up shop. The network’s hash power would almost certainly decline and steeply so. Nonetheless, the fundamental value proposition of BTC would remain undiminished.

So 2k or Nothing?

No.

In terms of my own portfolio – I have decided to
ladder in increasingly large positions at these levels

5.6k / 4.6k / 3.6k / 2.6k / 1.6k

None of these orders are yet on an exchange but should price break 7.5k then they will be placed.

These are all binary outcome positions – there is no stop-loss.

The investment horizon is 10 years or more.


Should price collapse to this area what I won’t be doing is looking to the mainstream media or Telegram or Twitter for guidance.

Bitcoin’s long-term price outlook depends on none of
those sources nor is it entirely bounded by the chart.

A new mechanism to store wealth offers an ROI of unknown magnitude and given its short trading history charts can only take you so far in analyzing BTC. For that, you need to be willing to assess/research the fundamentals of the project and draw your own conclusions once you’ve done so.


What About Missing the Boat?

Well, as I’ve been accumulating Bitcoin for the last 8 months – this isn’t relevant.

If you haven’t bought any BTC to date – waiting on 1.5k is a low probability outcome.

In addition, I purchase BTC every week – dollar-cost averaging greatly simplifies the process of accumulating BTC.


When Does this Outlier Hypothesis Become Irrelevant?

https://www.tradingview.com/x/WUEDfXSR/

An open and close above 13.8k on the weekly chart closes the book on this outlier proposition and would see me looking to enter capital on substantial dips into the 10k zone.


So This Guy is Saying BTC is Going to Fall to 1.5k?

No – not at all – this is an outlier proposition but one which is still worth planning for because:

A) It might offer an excellent accumulation opportunity.

B) If you haven’t entertained the idea that BTC may fall to this level – you are very likely to panic were it to do so. Panic is a terrible investment partner.

C) Focusing on lower-entry point outlier opportunities highlights the very real risk involved in investing in crypto.


Read This

It’s your money – you worked for it – it was hard to acquire – don’t let the greedy monkey inside your head convince you to ‘over-invest’ in BTC or any crypto. Take your time and research Bitcoin and the market in general before you deploy any capital Only after a period of learning, and reflection should you purchase crypto. Always remember – high risk is not a concept – there is a high percentage chance of you losing everything you invest.


Onsite Resources




Offsite Resources

Understanding the Bitcoin Price Chart

https://trybe.one/understanding-the-bitcoin-price-chart


Getting Started with Cryptocurrency

https://trybe.one/getting-started-in-cryptocurrency


How to Invest in Cryptocurrency

https://trybe.one/how-to-invest-in-cryptocurrency


What is the Next Big Cryptocurrency?

https://trybe.one/what-is-the-next-big-cryptocurrency


Crypto Coins to Watch and How to Go About Finding Them

https://trybe.one/crypto-coins-to-watch-and-how-to-go-about-finding-them

🗞 Daily Crypto News, July, 29th💰

  • CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission ;
  • Perverse Outcomes: FATF, Bitcoin and Financial Exclusion ;
  • The Facebook Libra Hearings: Everything You Missed in 5 Minutes ;
  • CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission ;
  • Bill Miller Hedge Fund Surges 46% Thanks to Bitcoin, Amazon ;
  • 📑 Daily Crypto Calendar, July, 29th💰
  • STEEM Trading Update

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

🗞 CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission

As Bitcoin dropped an additional 8% on Saturday, naysayers claim the rally to a new all-time high is over. So what is it that’s keeping market analysts bullish in the face of a 33 percent correction? 


Bitcoin price bears draw a line at $10,000


Bitcoin’s most recent price action has been less than satisfactory, unless you’re a bear. To date, the top digital asset is down 32% from it’s 2019 high of $13,739 and short term price action remains overwhelmingly bearish.  

Over the past two weeks Bitcoin formed an M-top at $13,739 and $13,177 before dropping to the neckline around $9,600. Most traders expect that Bitcoin will retrace to the 61.8% and 50% Fibonacci Retracement level which is also near the CME futures gap. It’s possible that the group think surrounding the CME gap is causing it to function as a magnet, drawing BTC price nearer to the $8,500 – $7,500 range. 

BTC/USD

Dormant Bitcoin wallet address hit new all-time high

Earlier this week Coin Metrics released a report showing Bitcoin’s untouched supply reaching a new all-time high of 21%. 

Not everyone supports this conclusion, however. Adamant Capital founding partner Tuur Demeester countered saying that: 
“I’m not so sure […] 5 years without updating your cold storage method is a long time in Bitcoin. Imo most of these coins are likely lost.”

BTC Untouched Supply

Start of new bull markets coincides with miner capitulation, data shows

On Saturday expert crypto-analyst PlanB tweeted a rather intriguing chart that he and ParabolicTrav worked on.

Bitcoin bull markets start at difficult bottom

According to the analysts, after a BTC/USD rally reaches its peak, a massive amount of Bitcoin is available at lower prices. The start of new Bitcoin bull markets have coincided with miner capitulation and Bitcoin price tends to rise from these bottoms to grow 100 times. 

According to PlanB:

“We saw difficulty bottoms (miner capitulation) in Dec 2011 ($4.6), May 2015 ($230) and Dec 2018 ($3,896). Price continues to rise from these bottoms until ATH around 100x […] Implying a continuing uptrend until $370,000 ATH.” 

🗞 Perverse Outcomes: FATF, Bitcoin and Financial Exclusion

In last week’s column — my third on Libra — I referred to a core dilemma confronting the cryptocurrency project’s financial inclusion goals: the impossibility of being both pro-privacy and pro-KYC.


I promise a break this week from Libra and its controversial founder, Facebook. But I want to dive deeper into that dilemma because the problem is hardly unique to that project. As “know-your-customer” rules have steadily encroached into their world, all cryptocurrency startups trying to expand financial access for the poor are hamstrung by requirements to identify and track the people they seek to serve.


This contradiction stems from tough policies contained under Anti-Money Laundering and Combating the Financing of Terrorism rules (AML-CFT), which were tightened worldwide after the September 11 attacks in 2001 and then again after the financial crisis. Since virtually every bank needs access to dollars, KYC rules everywhere tend to follow models laid down in the U.S. Bank Secrecy Act and in guidelines of the U.S. Financial Crimes Enforcement Network, or FinCEN.

Further internationalizing pressure comes from the inter-governmental Financial Action Task Force, or FATF, which sets the regulatory standards by which countries pressure each other to comply.

🗞 The Facebook Libra Hearings: Everything You Missed in 5 Minutes

“It’s not a surprise to me that inevitably corporations are going after creating their own tokens but for Facebook to be one of the first big ones is is pretty much a surprise,” said Lukka CEO Jake Benson told us when news of Libra began to spread. The world shared his surprise when Facebook unveiled its wild cryptocurrency dreams last month. But that surprise quickly turned into concern and condemnation as politicians started thinking about what it meant for a company to run its own mint.


Facebook’s reaction to the hearings was also surprising. The usually-reticent social media giant sent their best fighter – Libra co-creator David Marcus – into the ring to defend the currency and the battle raged for two days as the U.S. Congress and Senate took turns bringing up their concerns.


The result? A stalemate… for now. token transactions.

🗞 CoinLaunch Reaches $50,000 Settlement With Ontario Securities Commission

Initial coin offering (ICO) consultant CoinLaunch has agreed to pay $50,000 to the Ontario Securities Commission (OSC), according to documents published on the regulator’s website dated July 24.


According to commercial litigator and former programmer Evan Thomas, CoinLaunch was consulted on two ICOs, BCZERO (raising funds for a Czech off-road truck racing team) and ECOREAL (raising funds for a Portuguese resort), both of which were found to be securities. CoinLaunch reportedly created the tokens, white papers and websites, advised on the sale structure and made introductions, including to crypto exchanges for listings.


According to Thomas, the OSC found that the service was an act in furtherance of the trade of the security tokens since it was instrumental to the solicitation of investors. The consultant agreed to pay a $50,000 fine under a settlement.

🗞 Bill Miller Hedge Fund Surges 46% Thanks to Bitcoin, Amazon

The hedge fund of famous investor Bill Miller saw 46% growth in the first half of 2019, reportedly in some part from investing in Bitcoin (BTC).


Citing an investor document, Bloomberg reports on July 26 that Miller achieved such outstanding results by investing in Bitcoin among other high-performing stocks. Alongside Bitcoin, other investments in the Miller’s fund reportedly include Amazon, security system firm ADT, as well as Avon Products.


The 69 year-old investor reportedly found success by following a similar investment strategy as he used during his three-decade run at Legg Mason, which envisions investing in securities that trade at a large discount to their intrinsic value.

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📑 Daily Crypto Calendar, July, 29th💰

LBank will open a SKY/SCH (Coin Hours) trading pair.

We’re going to launch Vexanium Whitepaper 2.0 on 29th July 2019.

“IOHK will be restarting the Cardano Byron testnet with a fresh genesis block and new network magic on 29 July.”

Conceal.Network (CCX) is going to be listed on Citex.

“Cast your vote at 0x.org/vote to add support for ERC-1155 and the StaticCallAssetProxy!”

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

STEEMUSD.jpg

Here is the current chart :

STEEMUSD.jpg

The STEEM is still sitting on the support line at 0.24$, waiting for the next move from the BTC. I’m really afraid that the BTC will continue it’s correction so yeah, I’m little bit pessimist about that support line at 0.24$. However, I really wish that I’m wrong and that this support line will keep us upper but be very carefull in the coming hours.

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Last Updates

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Join this new Free To Play on the STEEM Platform !

Crypto Contest July 29: Blue Whale EXchange

Blue Whale EXchange (Bittrex: BWXBTC) 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, BWX began a wave one advance on July 22. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 23, and the red wave two (blue sub-waves a-b-c) correction ended on July 27. If this wave count is correct, BWX should be heading next towards the July 23 peak in the red wave three.

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

Funnymentals

Blue Whale EXchange is a decentralized ecosystem for the self-employed. You can watch their intro video below.

(Sources: Blue Whale EXchange and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

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