LSK technical analysis

LSK seen from the temporality of 1W we can see how the candle structure has formed a descending wedge indicated in the chart above by the two dark blue diagonals where the price has been contracting during the movement within the figure as a sign of a slow sale prior to an upward movement, the 2 previous candles have formed a hammer candle followed by a doji on the demand zone located at 0.0000831, if the current candle breaks the resistance of the figure we could see a possible bullish impulse towards the supply zone located at 0.0001087, this is an area to take into account in the short term as the price could fall in a confirmation test to the demand zone mentioned above and then continue with a much larger bullish movement, the other possible scenario is that the momentum is strong enough in the breakout to reach our second profit target located within the price range of 0.0001460 – 0.0001594 indicated in the chart above by the two horizontal black.

LSK seen from the temporality of 1D we can observe more closely the current movement of candles where we see how while the price has been falling within the figure, the RSI indicator shows us a clear bullish divergence, indicated by the dark blue diagonal within the indicator, we need the daily candle to close strongly above the resistance of the figure to go in search of the supply zone located at 0.0001087 where we could have two possible scenarios during the movement, whose possible trajectories I have drawn within the chart above, if the supply is taken in that zone, the price could go back to the demand zone before going in search of higher targets.

In conclusion, LSK presents an excellent moment within the trend count for bullish movement, our first target would be the supply zone located at 0.0001087, while our second profit target is located within the price range of 0.0001460 – 0.0001594 and our third target is located within the price range of 0.0002511 – 0.0002717, the price is still within the figure, so we must secure the position and be very attentive to the action of the price in 1D to look for a close with force that gives us a signal of continuation, always remember to place their stop loss to avoid possible invalidations during the movement.

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

Currency Analysis Report 11/14/19 – The Kiwi Surprises Everyone

The Reserve Bank of New Zealand has already cut interests rate three times this year with the most recent cut being in August.  Back in August the Bank of New Zealand cut rates by 50 basis points.  The drastic cut shocked the Markets because the Markets were only a 25 basis point reduction.  At that time, Reserve Bank Governor Adrian Orr hinted at further easing by any means necessary in order to hit their inflation rate targets.

Twelve out of 15 analysts polled by Reuters expected the Reserve Bank of New Zealand (RBNZ) would cut rates to 0.75% this week from the current 1%.  However, nobody saw it coming yesterday evening.

The New Zealand dollar surged Wednesday after the country’s central bank defied expectations for an interest rate cut, and left policy unchanged. The kiwi dollar NZDUSD, +1.2954% jumped 1.1% to 0.6402 U.S. cents. In a statement, the Reserve Bank of New Zealand said at it was leaving the Official Cash Rate at 1% as economic developments since August “do not warrant a change to the already stimulatory monetary policy setting at this time.”

Expectations had widely been calling for a cut of 25 basis points, said Ipek Ozkardeskaya, senior market analyst at London Capital Group, in a note to clients.

Source

The RBNZ left the door ajar for further policy easing saying it was “prepared to act” if required. The central bank’s own projections imply a 50/50 chance of a cut next year.

So where is the Kiwi headed next, lets go to the charts?

Monthly Chart (Curve Time Frame) – monthly supply is 0.7600 and monthly demand is 0.6300

Weekly Chart (Trend Time Frame) – the trend is still down.

Daily Chart (Entry Time Frame) – the chart suggests you can’t consider going long until price closes above 0.6450.

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 Drama (Part 3)

Behold, the penultimate instalment in my first and only play! It’s brilliant so far, isn’t it?

In case you missed part’s 1 and 2, you’d better catch up here: (or else you will be totally lost!)

Enjoy!

See you tomorrow for the thrilling conclusion to this drama!

Scene 2

The is a knock on the door. The Director of Automated Networks opens it to reveal Bit Brain standing in the doorway.

DIRECTOR of AUTOMATED NETWORKS
Please, step inside and have a seat Mr Brain!

BB enters and shakes the extended hand of the DAN. They both take a seat.

DIRECTOR of AUTOMATED NETWORKS
Ernie tells me that you wish to discuss something with me?

BB
Thank you Mr Director. Yes, I would.

DAN
I’m guessing that this has to do with your insufficient CPU preventing you from carrying out transactions on our shopping network?

You do realise that this is just temporary right? A month from now the REX lending contracts will expire and things will probably return to normal. Probably. Until then we get to demonstrate how much traffic our network can handle from the EIDOS box; it’s a good thing. Also our franchise will soon upgrade to our optimised “Version 2.0”, that will make us even more efficient!

BB
Well, I suppose that the CPU issue inspired me to be here, but that’s not really why I asked to see you.

DAN
Then I am curious Mr Brain, why are you here?

BB
I am here because I’m concerned Mr Director. I’m concerned because your store is experiencing a rather severe issue, and all anybody says about it is that “it’s a good thing”. Mr Director, I am concerned because you and your supporters are in denial! I haven’t seen this much denial since that German guy said he was going to open a bar that specialises in selling carrot juice; I still can’t believe that so many of the Carrot Bar’s investors were in denial about that scam!

Mr Director, thousands of shoppers can’t shop here at the moment, and you just don’t seem to care because the richest ones still can!  Don’t you see how bad that looks?

DAN
Mr Brain, I think you’re blowing this out of proportion. Anyone who puts enough money into our CPU can still use the system, I don’t see the problem.

BB
I can appreciate that. Can you appreciate that many users can’t afford that? Do you have any idea what it’s like to be in there shoes? My memory is a little fuzzy on this point, remind me again just how much investment capital you attracted when you started up this business?

DAN
Yes, yes, we broke records when we started this business, but that’s not my money, that money belongs to the business.

BB
Yet the board of directors controls it. You get to say how and when it is used. You would never know what it is like to be stuck with only a single unit of credit on your CPU card, because that isn’t a reality that any of you have ever had to experience. But that is a reality that thousands of us customers experience right now, and Mr Director, we can not use your shopping network!

DAN
But can’t you see? The system is working as it should. That is what decentralisation is all about! He who puts the most into the scheme, gets the most benefit from the scheme.

BB
That’s fine, I think we can all accept that. But many of us were led to believe that we had already put sufficient money into the scheme, only to now be told that we will have to invest far more if we want to enjoy predictable, regular access to it! That’s not fair Mr Director! You need to address the problem of EIDOS denying resources to the majority of the network. You need to address the exploitation of your system!

DAN
We don’t see it that way. This is a good thing. There is no problem here.

BB
Damn it Mr Director! Can’t you see that I’m trying to help you guys? Can’t you see that having a whole lot of people who can’t access your network, despite having CPUs, is a big problem? Don’t you appreciate that people don’t want to wait a month to be able to make a transaction? Can’t you understand that nobody wants to create a start-up business as part of your franchise if their customers won’t be able to access their services?

Yesterday I ran into a new guy in town, he says he is the newly appointed District Apothecary. He wants to move into one of the abandoned buildings and start his own District Apothecary service – his DApp,
but he is afraid of the start-up costs. In the past I may have sent him here, to you guys, but now I would never do that to him. Instead I am going to suggest that he joins Ned from across the road and becomes part of his
franchise.

You see Mr Director, your mentality is becoming dangerously elitist, your store no longer cares about serving the man on the street, as long as it can serve a rich happy few, or those who are willing to exploit the system. That’s not right Mr Director, that’s not why we moved out here to the frontier! We are supposed to be moving away from systems like that, we are supposed to be creating fair systems for all! Sure the rich can enjoy benefits, but don’t shut the poor out of the network altogether!

DAN
That’s not our objective Mr Brain, we are neither anti-poor, nor pro-rich, we’re just decentralised.

BB
Don’t you worry about your franchisees? Don’t you worry that they will lose business after having placed their faith in you?

DAN
Our franchisees can create systems whereby they loan their own CPU to their customers, allowing them to continue to use our network of services.

BB
But surely some customers will exploit that to the detriment of others? That sounds like quite a complex undertaking for a start-up business to have to deal with; one which will require a potentially complex solution.

DAN
That’s true. But give it time.

BB
That could be more time and money than what people trying to create a DApp or something similar can afford…

Mr Director, as long as you can’t even admit that there is a problem, you can’t begin to address the problem. You know as well as I do that your franchise is hardly decentralised, the majority of resources and control sits right up at the top here with you! That’s fine, but then use it wisely! You need to address this issue! If you do not, then it will have repercussions for your business! Please just admit that there is a problem so that the problem can be tackled! The frontier is a new place, people accept that mistakes are being made, but in order to retain their confidence and respect you need to be honest with the people! Being realistic, open and honest attracts community support, that’s much better than sitting with disillusioned customers!

DAN
I’m sorry you see it that way Mr Brain. We see no issue. I tell you again, this is a good thing.

BB
Well I’m sorry too Mr Director. I tried to show you an impartial reality, but there are none so blind as those who will not see.

Exit Bit Brain