Cryptocurrency Relative Strength Analysis Report For Week Starting 8/4/19

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

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Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

Based on the moving averages and the last daily closing price, relative to the moving averages,

the altcoins relative strength, relative to Bitcoin are the following:

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Two Weeks Ago

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.

Total Market Decision Point

Putting aside what BITCOIN is doing lately, it is worth to check as well what the TOTAL crypto market does.

It is a fact that BITCOIN is being feed mainly by the altcoins in the present days since doesn’t look that “fresh” FIAT is entering at the market nowadays, that’s why looking at the BITCOIN chart versus USD can be a little bit misleading since there is a lot of selling pressure for BTC by the altcoins side

However, as I wrote yesterday in this post an enormous Bullish Flag has been formed as well at the Total Cryptocurrency market.

Inside this Bull flag there is a count that will fit in and may give you some hopes regarding the end of the correction is probably done. It is a Regular Flat Correction (3-3-5)


The only “but” I see in this possibility is that, in order to be considered as a “Regular Flat correction”, “B” should be just below the start of wave “A”, and, it is but perhaps so much low…

Anyway, let’s consider this count as good, if so, then the correction should be already finished and the Total Crypto Market should has finished already the first wave upwards and working on the third and more powerful wave, something like the following:


Nevertheless, as I said yesterday with the BITCOIN chart, a Bull Flag can promote at least 5 rebounds between its confining lines:


Conversely to BITCOIN’s Volume, the TOTAL MARKET Volume has decreased from the top of the year but not so much compared with the Crypto King and what I see in the Daily RSI indicator is an excellent situation for higher highs:

So, yes, IMO we are now in an important moment according to the Total Market Chart, be ready to experiment a possible sudden Price action, mostly on BITCOIN but also in other big Altcoins afterwards.

Enjoy!


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.


US Interest Rates Analysis Report 8/4/19 – Rates Will Continue To Go Down

The Fed Powell cut interest rate this past week because the Markets demanded it, Trump has been blasting Fed Powell about lowering rates and to keep the party going.  But don’t expect your interest rate on your credit card or car note to go down. The interest rate cut was the federal funds rate that was cut, meaning the rate banks charge each other over short periods.

The last time I spoke about rates, specially the 10 yr bond rates was in May,

US Interest Rates Analysis Report 5/20/19 – Are Rates Eventually Going Higher???

On the monthly chart price breached the up trendline to the downside in December and currently sits in the monthly demand zone at 2.322%.  Interest rates might go up in the short term,

but my bias is that rates will go down longer term because of the macro picture.

In addition to the rate cut, the news of more tariffs on Chinese goods and continued weak US PMI manufacturing data this past week,

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the yield on the 10 yr bond is now below 2%. This is a really big deal, because we haven’t seen rates this low in years, a testament that the economy is slowing down and a recession is right around the corner (I’m targeting May of 2020, but by that time, the Markets might be down 20%-30%). So while Fed Powell is saying don’t expect more rate cuts, he won’t have a choice but to continue to cutting rates.

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.

My Take On The US Equity Markets For The Week Of 8/5/19

This past week, Fed Powell cut rates…as expected.  Markets will typically rally after a rate cut due to lower borrowing cost for companies, translating into higher profits.  And we did get a rally, until Trump twitted an additional 10% tariffs on the remaining $300 million of imports from China.  That twit alone lead to a 700 pt reversal in the Equity Markets and the stocks closed at a level not seen since late June.

S&P 500 – Big Picture

Lets Zoom In

Price fell back into a daily demand on Friday. Although price reacted to the zone, I don’t know if there are enough buyers to take out the sellers. The zone is no longer fresh and the chart suggests price will fall further down to 2890.

DOW Big Picture

Lets Zoom In

There is a major support/resistance line band near 21000.

I think there is more downside risk as I’m looking for price to fill the gap and react to the daily demand at 21000.

Nasdaq – Big Picture

Lets Zoom In

Daily demand is about 200 points lower.

However, on the 4 hr hour chart, there is a 4 hr daily demand that I would of taking long, but it was a Friday and I didn’t want price to potential gap against me on Sunday. So going into Monday, if prices hold, after I see some potential strength, I will look to go long on a pull back on a 15 min chart.

NOTE: the better 4 hr demand zone is lower because it represents more of a discount and embedded within a daily demand zone.

Russell 2000 – Big Picture

Lets Zoom In

Prices remain sideways, the only way to play the Russell is to play the extremes as indicated on the 4 hr chart.

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.

Germany expanding digitisation with the new Digital Care Act

Germany
expanding digitisation with the new Digital Care Act (Health Europa)

  • Germany has introduced the new Digital Care Act, which builds upon the 2016 ‘E Health Act’ that focused on developing information and communication technology in healthcare, particularly in the form of ‘electronic health cards’ and ‘electronic patient files’.
  • The new Digital Care Act will enable doctors to prescribe health apps, the cost of which, under certain conditions, will be reimbursed by German statutory health insurances.
  • Additionally, the German Act that currently prohibits the advertising for remote consultations will be amended, and any planned regulations of the introduction of the ‘electronic patient file’ have been removed, in order to facilitate its launch at the turn of the year 2020/2021.

Analysis and Comments

  • The electronic health card serves as an insurance card for people with statutory health insurance, while the electronic patient file (which hasn’t been built yet) is a further development of the card.
  • The file will enable statutory health-insured people to access a broad range of medical information such as, for example, findings, diagnoses, therapy measures, treatment reports, and vaccine history.
  • A separate privacy law governing the sensitive health data that is to be recorded in the electronic patient file is due to come into effect in January 2021.
  • Ultimately, the new law simply recognises the fact that patients have already been using health apps of various kinds, and stresses Germany’s intent to introduce digital services such as the electronic patient records as soon as possible.
  • Australia recently introduced a similar patient file called ‘My Health Record’, which apparently not only many Australians have opted out of, but is currently often empty (i.e. not being used as information is not being shared in a meaningful way between all parts of the system).

Steem….Likely Goes Lower From Current Price

When Steem, Inc. laid off employees last fall, I thought it was the beginning of the end for the token Steem.  With their backs against the wall, the company buckled down and got there expenses, primarily their infrastructure expenses in order.

So the turnaround story begins…hopefully with a happy ending (keep your minds out the gutter).  Steemit Inc. appointed Elizabeth Powell as Managing Director of Steemit and I have been very happy about the her Team’s transparency communication within the last couple of months.

And you know what, I have to give them credit, despite some of the back lashing by remaining professionals and trying to regain the trust of the Steem community.

I do think this blockchain
has a lot of potential, but potential has a shelve life.  In the business of business, it requires a
combination of a clear vision, the ability to execute the vision and a little
luck along the way.  And I give them
credit for at least having a road map now.

So here we are, price is back in the weekly demand zone at $0.23. After hugging the short term up trendline for the first five months in 2019, price struggled to close above the longer term down trendline.  And what I can tell you is the longer price remains in the weekly demand zone filling all the unfilled buy orders, the probability of price breaching the demand zone and going lower decreases.  

This post was tough to write because I’m a long term HODLer of Steem, but I must remember that the name of this game is to low buy and sell high. But what might be undervalued or low in price, could go lower in price. This is where one might buy with conviction because they believe Steem should be much higher. If that is the case, leave your emotions out of the equation because if you decided to buy Steem at current prices, know that is could go lower? So before you pull the trigger, know why you pulled the trigger, but more importantly, have a plan behind why you pulled that trigger to buy at $0.23. The first test for all the buyers of Steem will be this major support/resistance line at $0.30

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 August 4: UNUS SED LEO

UNUS SED LEO (Bitfinex: LEOUSD) 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, LEO began a wave one advance on May 21. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 26, and the red wave two (blue sub-waves a-b-c) correction ended on July 19. If this wave count is correct, LEO should be heading next towards the June 26 peak in the red wave three.

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

Funnymentals

The LEO token is an exchange utility token for current and future iFinex trading platforms and services. Young And Investing reviewed the token back in June this year.

(Sources: UNUS SED LEO and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

World Stock Market Relative Strength Analysis Report For Week Starting 8/4/19

The Standard & Poor’s 500 Index (known commonly as the S&P 500) is an index with 500 of the top companies in the U.S. Stocks. Because the S&P 500 Index represents approximately 80% of the total value of the U.S. stock market, it’s the bellwether index for the U.S. stock market. In addition, the U.S. stock market is the largest stock market in the world, it’s also the bellweather for equity markets around the world. The S&P 500 is arguably the most important stock market index on the planet.

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Because we live in a global economy, the global equity markets interconnected and highly correlated.  However, some will outperformance other in the short term and long term. When constructing an equity portfolio, for the best returns one needs to have the ability and the capacity to assess all the major equity markets around to asset allocation purposes.  However, the first step is to determine the relative strength of the major equity markets, relative to the bellweather, the S&P 500.

DAX (Germany)

Dow Jones (US)

FTSE 100 (England)

Nasdaq (US)

Nifty 50 (India)

Nikkei 225 (Japan)

Shanghai (China)

Russell 2000 (US)

Based on the moving averages and the last daily closing price, relative to the moving averages,

the world equity markets’ relative strength, relative to the S&P 500 are the following:

Two Weeks Ago

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