In my last update we discussed the real possibility of bitcoin breaking down to test $9,950 (0.618 fib), where I said to expect a decent bounce. Price has since done just that, bouncing right below $9,950 and currently trading around $10,500. If you took that scalp trade, congratulations!
Price has broken below the 21 day EMA. It found support right on the 50 day MA.
In today’s video we’ll discuss where price may be going from here, key areas to watch, price targets, and so much more. I’ll also answer some of your questions. 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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…because you will have the chance to buy STEEM even enormously cheaper soon!!!!
We all thought Steemit INC was planning somehow to reduce the amount of STEEM they used to withdraw to the exchanges due to the excellent cost reduction and new incomes coming from Ads revenue but…
Not!!!!
Instead of reducing, they are increasing!
Last Tuesday:
Just today (less than a week later):
340,000 STEEM thrown out to the exchanges in just 6 DAYS!!!
This is what I call an Excellent “Programmatic but Erratically weird spoil Sell“…. and the best of all, I am sure they are selling at any price so, save your SBD and be prepared to buy STEEM below 0.20 USD or much lower because once STEEM reaches the 101 position the SURVIVING MODE will come back again.
It is really painful to see this happenning…
…but I am keeping being positive with the Long Term future for STEEM… we just need @steemit to finish squeezing the lemon, though…
For the moment I am keeping all my SBD at the wallet and exchanging the liquid Steem I have earned to SBD as well… this is the only way to avoid further losess due to both, the Market correction and the @steemit “Programmatic Sells”…
In Elliott Wave terms, Hxro began a wave one advance on June 27. 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 13. If this wave count is correct, Hxro should be heading next towards the June 30 peak in the red wave three.
Hxro is a player-vs-player crypto gaming platform that intersects trading with skill-based social gaming. Jacob Canfield tested the game earlier this year.
The twitter setup is there. The shorts a skeptics are on defense and the buyers have the ball. We have seen plenty of fumbles, and turnovers over the past few years but I beleive that $TWTR turned the corner last earnings and this earnings will have to PROVE IT. If this earnings passes the test the buyers and the stock will be off to the races. The pattern is there, the technicals are there, the past earnings report was promising, the expectations are low. Can Jack and company pull through?
This is what we in the technical business call an old fashioned cup and handle pattern. The stock tells a story. Every one usually does. You have the IPO run to 70+, then you have the sell off down to the teens and base. Now we are holding higher….and ready to explode. If $TWTR can pull off a run up into earnings and a gap and go, you ear looking at TWTR going back to all time highs in 2019.
Not only altcoins have been suffering the market correction…People, trying to increase desperately their stakes on BITCOIN is what we have seen these days…Everyone is panic selling their altcoins in order to avoid losing further…but this action does not avoid at all the losses since what we can see today is that the 24h volume of TETHER (USDT) is increasing while BITCOIN volume is decreasing…
During the past few days the volume between Tether and BITCOIN has stayed under equilibrium, in a proportion of 1 to 1, meaning that, for instance, we had exactly the same amount of Volume (24h) as you can see below in the pic I get yesterday:
Now, we have 1 Billion difference, meaning that BITCOIN is being Shortening .
I confess I did sell some BTC a couple of days ago as well, since the forecast seems clear and the count launches a 3-3-5 Correction…
Now, I am going to be focused on two main price levels:
The range between 9400 and 9700 USD
The 8800 USD price level which is the target of the HS pattern.
Observing these two levels can bring me the chance to get between 17 and 25% more bitcoin and so getting more BTC for the same amount of FIAT (Dollar averaging).
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.
Last night I was looking at the weekly chart of bitcoin and chatting with other crypto investors on the steemleo discord server.
I pulled up a weekly chart of bitcoin and pasted it in chat and said “who would buy that chart?”
At the time bitcoin was at 11,300…..I woke up this morning to see exactly why I said that as we have seen bitcoin (and others) sell off hard in the past 8 hours.
Kidding aside, it screamed don’t buy me yet
Looking at this chart you can see the reversal candle from a few weeks ago that the bulls decided they were going to to and trump and nearly did so. However, price was not able to breach that prior high at 13,900 and rolling back down price came.
Now this week’s candle is set to close in about 8 hours and has an ugly upper wick and room on the down side with support at 9,800 and the 10 period moving average still far away, currently at 9,200 and likely to move up to 9600 or so with the new candle.
Alot of signs saying price will test 10K again.
This is not to say one should have sold out or shorted last night….it just goes back to the title of this post:
“Who Would Buy That Chart”
If you want to learn how I read charts and the three simple things I use to trade crypto check out my scaredycat to investing in crypto videos. They are free to watch and are not on youtube.
In Elliott Wave terms, AAC began a wave one advance on February 19. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on April 8, and the red wave two (blue sub-waves a-b-c) correction ended on July 11. If this wave count is correct, AAC should be heading next towards the April 8 peak in the red wave three.
Liberland delegation was invited to discuss future collaboration with director Predrag Mitrovic of Employers union of Montenegro. Topics included national cryptocurrency and special economic zones.
