Yesterday and specially today we are finally seeing a good move upwards on the STEEM price action and also on other “traditional” altcoins as MONERO, SIACOIN and NEM that were stagnant lately.
Despite we are still far below the 50 Days Moving Average (50DMA) it is really a good signal.
The 50DMA is one of the main tools/indicators used by the traders. STEEM will need to break that line for a few days in order to reaffirm a consolidation state and a initial indication of a possible Reversal.
Typically people used to trade around this line, because a breakout upwards very often indicates a Bullish Scenario while downwards is, of course Bearish, however we have to be very careful here because there are many traps already “programmed ” around the breakout.
So, in order to consider STEEM out of “Bears Jaws” we have to break that line and stay around or above for a 3 or 4 days more.
I’m not trading STEEM at all but buying small quantities these days however I am crossing fingers to see this scenario occurring soon.
@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.
AION seen from the temporality of 1W we can see how the structure of candles has remained within a range since the month of July 2019, the major figure is that of a descending wedge, indicated in the graph above by the two diagonals red, this wedge has entered into formation since August 2018, the price is currently at a key moment to look for the break, the key support located at 0.00000841, indicated in the graph by the horizontal blue color must be recovered to ensure a next bullish movement to get the break of the resistance of the major figure, if we achieve it, we should reach our first target located in the 0.00001900 that I have marked as an area of supply, the price could continue to reach our second target located within the price range of 0.00002167 – 0.00002704, indicated in the graph by the rectangle light blue.
AION seen from the temporality of 1D we can observe more closely the current movement of candles, I have indicated through a yellow circle, the current area where the price in its retreat has managed to withstand the support of the demand in 1D located at 0.00000780, indicated through the horizontal black color, the current candle is marking a long lower wick, signal of buying pressure in that area, to close so, would be a strong signal to go looking for the reclaim of the blue horizontal and continuation with bullish momentum.
In conclusion, AION has had a long run within the descending wedge, currently the price gives a strong signal of a movement with upward inclination, within the temporality of 1D, the price has come created a series of HL that the movement continues to respect, as I mentioned above, we must recover the key support located at 0.00000841 to then look for a much larger long movement, the daily candle is closing well, however, we must be very attentive to the action of the price of the next candles in 1D to secure our position, always remember to place stop loss in all your operations 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.
Please click the link below to listen to the 58th episode of my weekly crypto podcast ‘Two Minute Crypto.’ These are intended to be short, single-topic ramblings on some aspect of the cryptosphere. Consider dropping a like and or a review on iTunes or Podbean if you enjoy the podcast. Comments and critiques welcome.
Welcome to Two Minute Crypto. Today’s instalment seeks
to shed some light on Bitcoin Maximalism. What follows is neither an
endorsement nor a repudiation but simply a description.
The term ‘Bitcoin Maximalism’ dates to December 2014 and was originally
used as a pejorative term by Vitalik Buterin, one of the co-founders of
Ethereum to describe Michael Goldstein, President of the
Satoshi Nakamoto Institute. Vitalik’s intent was to highlight what he viewed as
an unreasonably blinkered view of Bitcoin as the only true implementation of
crypto with all other projects essentially being scams.
Over time, hardcore BTC adherents have taken on the term as a badge of honour – proudly and loudly declaring themselves BTC Maximalists. In essence, this viewpoint states that: Bitcoin and only Bitcoin is a true expression of a decentralized cryptocurrency – all other chains being doomed to eventual failure and irrelevance. In addition, and perhaps more importantly, Bitcoin Maximalists believe that BTC is destined to overturn and replace the current legacy financial system. This goes far beyond simply a store of value and ultimately sees BTC as the sole global reserve currency.
Bitcoin Maximalists, in general, see it as a duty to seek-out
and call-out other blockchain projects, labelling them either as outright scams
or as wasted efforts. They decry any development time poured into other chains
and posit that BTC, in time, will simply absorb and implement each and every
short-term advantage a competing crypto may seem to offer.
Some noted BTC Maximalists are Saifedean Ammous author of the
Bitcoin Standard, Tone Vays a former vice president of JP Morgan Chase, and Max
Kaiser another former Wall Streeter and early BTC evangelist. Murad Mahmudov,
Jimmy Song, Trace Meyer, Michael Goldstein, Francis Pouliot, and Stephen Livera
round-out the list of high-profile and profoundly unapologetic BTC Maximalists.
As I outlined in episode 23, I personally don’t adhere to a there can be only one perspective – however, I do believe that Bitcoin is leaps and bounds ahead of the competition in terms of decentralization, brand awareness, market penetration, and future potential investment return.
In any case, BTC Maximalism remains a highly significant narrative in the current crypto landscape. To date, it has shown no evidence of abating helped no doubt by the underwhelming performance of its peers over the last 18 months or so.
When I think of Northeast Winter, I think of heating oil. Growing up in the projects of New York City, each building had these big boilers ground and every so often I would see a tanker truck refilling the boiler. As I got older finally realized the black plume of smoke I use to see, it was the combustion of the heating oil in the boiler as it was producing steam for heat and hot water.
NOTE: I grew up right there on the Lower East Side of Manhattan.
Now the Northeast heating oil industry is start to put pressure on the state in the New England regional to mandate biodiesel content in home heating oil in an effort to carbon emissions. This should be an easy victory for the Industry as because a lot of the heating oil used in New England already contains some biodiesel, but its use is not required in every state.
And across the country, they are encouraging Seattle residents to switch to cleaner heating system by implementing a new tax on the sale of home heating oil to the tune of $0.24 / gallon starting 9/1/20.
Heating oil is a petroleum product refined from crude oil. Heating oil and diesel fuel are closely related products called distillates. Distillation is the process of separating the components or substances from a liquid mixture by using selective boiling and condensation. I studied chemical engineering in college and can appreciate the massive refiners out there.
Refiners who produce heating oil often make decisions about how much to produce based on the price they are paying for crude oil. However, buying your heating oil during the summer months is usually a better bet because prices tend to drop based on the lack of demand.
As the winter approaching, what can homeowners expect to pay for the price of heating oil, lets go to the charts to find out?
Monthly Chart (Curve Time Frame) – monthly supply is at $2.4560 and monthly demand is at $1.6000.
Weekly Chart (Trend Time Frame) – the trend is sideways.
Daily Chart (Entry Time Frame) – the chart suggests to play the extremes, wait for price to get to the daily supply or daily demand before considering a trade set-up
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.
XVG seen from the temporality of 1W we can observe a bearish pattern within the major figure where the price has had a long run since 2018, the closing of the previous candle has managed to recover the support located at 0.00000043, if it manages to stay above that level, it is very possible that we see an upward continuation towards the diagonal resistance of the major figure indicated in the chart above by a red diagonal, our first target indicated in the chart is located within the price range of 0.00000090 – 0.0000010808 within the price range of 0.00000090 – 0.00000108.
XVG seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the price has broken up the pennant bearish delimited in the chart above by the small red diagonals, after a slow sale, the price has managed to make a retest of the resistance located at 0.00000047, indicated in the graph above by the horizontal black color, so far has marked an HL with the throwback to the support of the blue horizontal in the 0.00000043, so that we can see a next upward movement we need the price to close above the black horizontal, otherwise we could have invalidation.
In conclusion, the price begins to give signal of reversal of trend, just as other currencies have been doing, XVG has fallen a huge percentage during this down season, so many traders may not be very motivated to operate this market, however, the situation could be reversed in a short time if the price remains above 0.00000043 and gets us a new HL above 0.00000047, otherwise, the price should fall towards the 1D demand zone located at 0.00000038, therefore, I recommend to be very attentive to the price action in 1D, this is a risky trade, do not forget to always place your 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.
Yesterday I discussed Chainlink (LINK) and how $2.50 could potentially act as a support given prior price action.
Just a little trade…
Now that price touched the 10 day moving average after digesting the prior up move I have decided to take a shot and bought 300 coins at 2.56
If you look at the chart you can see we may have a little double bottom intraday as 2.45 was the low of yesterday’s candle and today so far.
I may be jumping the gun as this candle had not closed and anything can happen in the remaining hours, but with a clear exist of 2.45 it was worth risking 10 cents to make 30 or so as the high of 2.98 is my profit target.
It certainly doesn’t scream get long, but it’s a decent enough risk-reward and setup to speculate and try and pickup an easy $100.
I immediately thought
about the which one is the lesser of two evils…very similar when Hillary was
running against Trump a couple of years ago.
Nevertheless, I wanted to
get a tidbit from the article before I give you my opinion.
ExxonMobil (NYSE:XOM) is an old hand with a diversified business model. While the name Dow (NYSE:DOW) is old, it’s really a new company today, with a focus on the chemical space. Here’s a few things you need to think about to decide which one of these iconic names is a better fit for your portfolio.
Exxon is working through a difficult period for oil prices and spending heavily to improve its business. It has a rock-solid balance sheet and looks relatively cheap from a historical basis (the yield is higher than it has been in decades). It is hardly risk-free, but it has a long history of success behind it. Even conservative investors would be OK jumping aboard here.
Dow has a great name and solid businesses, but is really a new company today with a very limited history. Its balance sheet isn’t as strong as Exxon’s, but it also isn’t likely to face the same top- and bottom-line swings. That also suggests its target payout ratio is reasonable. However, with little track record, most investors would probably be better off giving the company at least a year or so to get its house in order before jumping on this high-yield stock.
Sector SPDR ETFs have become one of the most popular ways to invest in specific sectors of the stock market. Sector SPDRs track 11 different sectors in the S&P 500. It’s important to note that 39% of a stock’s move is due to the sector that it belongs to. The remaining balance is 41% of a stock’s move is due to the index and only 20% of a stock’s move is due to the company itself.
Since May I started tracking the SPDR sectors based on a moving average and a rating system I developed. It’s been fairly accurate in identifying the strongest and weakest sectors. Please note Exon belongs to the XLE sector and Dow belongs to the XLB sector.
Here are the results from
last week.
Here are the results from
wk of 5/13/19
As you can see, both companies have been in the worse sector five months ago and today. And when I look at the monthly chart for both companies, the chart suggests ExxonMobil will fall to the monthly demand at $68,
while the chart for DOW suggests price will fall to weekly demand at $42.
If I was Motley Fool, I would of probably titled the article, “Better Buy In the Future: ExxonMobil Or Dow” because neither one of them is worth buying at this point.
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.
Not only is the world’s
currency the US dollar, but it’s one of three safe haven currencies in the
world (the other two being the Swiss Franc and the Japanese Yen). And as long as the US economy grows, relative
to other economies and US interest rates remain positive and/or higher relative
to other central banks around the world, the US dollar should continue to
appreciate.
However, late last week we received news regarding the US-China trade talk that Chinese Vice Premier Liu He said China was willing to reach an agreement with the United States to minimize further escalation in trade tariffs. The feeling appeared to be mutual by Trump going into the discussions,
which was later followed up with Trump said his negotiators reached a “substantial phase-one deal” that will delay the implementation of more US tariffs on Chinese imports. On the news the dollar’s weakness ignited a rally in the euro with the single currency rallying 0.5% to a two-week high. In addition, the British pound rallied after British and Irish leaders meet to have a treaty agreed to allowing the England to leave the EU in an orderly fashion by the end of this month.
As a result of good news on the US-China trade front and a potential amicable Brexit, the dollar had its biggest one day drop in five weeks late last week. So is this just the beginning of a bigger drop for the US dollar, lets go to the charts to find out?
Monthly Chart (Curve Time Frame) – monthly supply is at 101.50 and monthly demand is at 90.
Weekly Chart (Trend Time Frame) – the trend is still up.
Daily Chart (Entry Time Frame) – the chart suggest it’s not time to go short the US dollar and to wait for price to hit 100.25.
However, if price breaches the 98.00 level, the chart could be suggesting to prepare to go short.
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.
Market indecision has been the hallmark of this week’s crypto volatility. Some Alts such as Link made significant moves but the sustainability of these price gains is entirely unproven. As usual, lots more than price discovery going on in this space.The Bitwise ETF was shot down as expected though the firmness of the rejection was perhaps a surprise. The IRS issued draconian tax guidance for US citizens and Bakkt trade volume picked up just a little bit.
Given that this is the 50th edition of this series it’s worth re-stating the goal it strives to achieve:
The purpose of this weekly series is to recap some of the interesting ideas and concepts across a wide range of disciplines which each and every week in crypto seems to throw up. This ‘learners paradise’ is a great space to explore but also asks a lot of those who delve into it.
Got a grasp on basic programming logic, how about Austrian economics, or quantum computing or precisely how hashing algorithms underpin blockchains? Taking a moment to reflect or recap on the recent concepts and ideas crossing the crypto landscape can be very beneficial whether you are a hardcore crypto enthusiast or just exploring a casual interest in the space.
It’s important to note that not every idea here reflects my own bias or opinion. If it’s here, it’s because it made me think.
Rough around the edges – lots of profanity and slow to start (skip to 11:35) but full of thought-provoking perspectives on Bitcoin (highly recommended):
One of the key figures of the genesis of crypto – Nick Szabo – his work is a literal treasure trove on crypto, money, and economics (highly recommended):
That’s a wrap. See you back down this wonderful crypto rabbit hole before you know it!
Note on Sources:
Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.
Roku remains one of the fastest growing leaders in video streaming technology. Roku has over 30 million active users, about 10% of U.S. TV viewers aged 18 to 34 are now on Roku and these users are consuming more than 9 billion hours on streaming content.
But wait, why is Roku down almost 40% since early Sept?
Apple announced it would be giving away a free year of its new Apple TV+ service to customers who purchase new Apple devices, Comcast Corp. said it will give out its Xfinity Flex streaming box for free to its Internet-only subscribers and Facebook Inc. launched its new Portal TV device.
Price is approaching the monthly demand at $95. The chart suggests to go long once price penetrates the monthly demand.
Ken Griffin is the founder and CEO of Citadel. If you know anything about Wall Street, then you have heard of hedge fund, Citadel. The hedge fund manages close to $30 billion in assets and is the one of the largest hedge funds in the world.
The guy is doing well for himself. This past January, Ken bought a New York City apartment for $238 million. But he felt he didn’t have enough space, so he also simultaneously purchased London mansion for $122 million. Anyway back to the post as I got sidetracked by his wealth.
A 13G filing or Schedule 13G is an alternative SEC filing for the 13D which must be filed by anyone who acquires ownership in a public company of more than 5% of the outstanding stock. And according to a new 13G filing from hedge fund manager Ken Griffin’s Citadel Advisors shows a new 5% stake in Roku Inc.
Macquarie upgraded Roku from Neutral to Outperform on Wednesday. And on Friday RBC Capital Markets analyst Mark Mahaney upgraded Roku to an Outperform from Sector Perform, boosting his price target by $48 to $155.
I can’t say it enough, so I’m going to repeat what I said in a recent post.
Smart money is capital placed in the market by institutional investors, market mavens, central banks, funds, and other financial professionals. And simple put, they do the opposite of retail investors. For the most part, retail investors buy high and sell low, it’s usually the Smart Money on the other side of the trade who are selling high and buying low.
The investing world is full of FOMO (fear of missing out) at times. It is what often drives markets, often to the point of insanity.
Investing is a zero-sum game, so it also drives retail investor to the poor house.
Why do you think Ken took a recent stake in Roku and Roku was upgraded by Macquarie and RBC Capital Markets? It’s because there isn’t an ounce of FOMO in their blood and because Roku now selling at a discount. Although I thought the weekly demand would have been a better buy, price reacted to the monthly demand at $95. Thus, the chart suggests price will rise to the daily supply at $148.
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.
