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Crypto Contest July 24: Fusion

July 24, 2019 Published by

Fusion (Bittrex: FSNBTC) 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, Fusion began a wave one advance on May 4. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 20, and the red wave two (blue sub-waves a-b-c) correction ended on July 16. If this wave count is correct, Fusion should be heading next towards the June 20 peak in the red wave three.

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

Funnymentals

Fusion is a public blockchain creating an inclusive cryptofinancial platform by providing cross-chain, cross-organization and cross-datasource smart contracts. You can watch their intro video below.

(Sources: Fusion and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Expect Bond Prices To Continue To Rise

July 24, 2019 Published by

In December, Fed Powell said the Fed’s program to reduce the bond holdings on its balance sheet was on “autopilot.” Powell later went on and raised short-term rates another one-quarter percent.

Then in late January, Fed Powell said the case for raising rates has weakened somewhat. In addition, Powell made it very clear to the Markets and used the word “patient” eight times in his speech regarding hiking interest rates.

We are now in July and at the end of the month, the Markets are expecting Fed Powell to lower rates.  However, the US isn’t the only central bank lowering rates, it’s happening all over the world.

The era of quantitative tightening by major central banks is proving to be short lived.

Net bond purchases by the Federal Reserve, European Central Bank and Bank of Japan will swing back above zero from September, according to an analysis of their balance sheets by Bloomberg Economics. That’s just eleven months since they collectively hit reverse having spent a decade pumping stimulus into their economies via quantitative easing.

The outlook shows how quickly central banks have been forced to turn tail after spending much of last year leaning toward tightening monetary policy, only to now be looking to loosen it as the world economy slows.

Source

As rates go back down, expect bonds to continue to rise. The monthly chart suggests, on the 10 year bond, price will move higher to the monthly supply at 131’00’0.

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.

Buy Some Real Estate With Ethereum

July 23, 2019 Published by

Fundament, a Berlin-based blockchain firm’s receipt of approval from BaFIN to issue blockchain-based bonds that are backed by real-estate. In an announcement on July 23, 2019, Fundament revealed that as a result of the regulator’s approval, it will be running a public offering valued at EUR 250 million ($280 million). 

As a result, crypto fanatics in certain regions who want to invest as little as 50 euros in Germany’s real estate at a variable interest rate can opt to pay with ethereum instead.

Furthermore, the token sale will begin on August 2019 where it will be launched on the Ethereum blockchain. The process will adopt the standard procedure that was notable among Initial Coin Offerings (ICOs) of 2017 and beyond. In addition, the tokenized bond can be withdrawn in the form of a foundation token to a wallet that is compatible with Ethereum’s blockchain.

Source

Ethereum was like the second coming of Bitcoin, where you could build Dapps on the blockchain, but the transactions weren’t fast (relative to the 3rd and 4th generation blockchains). However, Ethereum’s mission is to replace internet third parties that store data, track financial instruments via smart contracts and eliminate the server / cloud model.

Despite not making a lot of noise in recent months, Ethereum remains a top 5 blockchain, at least by market cap and will be one of the blockchains that will still be around in 10 yrs. However, in the short term, price is correcting to the support / resistance line at $160.

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.

Bears Have Bulls Backed In a Corner!

July 23, 2019 Published by

Bears have bulls pushed against major support at $9,950. This is not just visual support, but also the 0.619 fib level of the larger structure. A decisive break (daily open and close) below this area would be significant.

Screen Shot 2019-07-23 at 12.44.11 PM.png

Bulls are still defending the 8 week EMA at the time of writing this.

Screen Shot 2019-07-23 at 12.44.34 PM.png

In today’s video we’ll look at the macro and micro picture. We’ll discuss where price may go from here, key areas to watch, I’ll answer your questions 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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The Bedcoin Team is Planning on Creating a John Wick Continental Hotel

July 23, 2019 Published by

Have you seen the movie John Wick?  Did you remember how cool the Continental Hotel was?

Well the team from Bedcoin is planning to create a Continental style hotel where you will use bedcoin to pay for special services, etc. (pretty sure no killing will also be a rule..hehe)

Here is more from their medium post…

Bedcoin is working to create a global community of Bedcoin holders that can use Bedcoins to unlock special accommodation features.

Bedcoins have two utilities:

Profit Sharing –  Access profit sharing on the Bedcoin Platform when the profits from the investment portfolio are shared with Bedcoin Holders.

Traveling Services – Bedcoin will create a series of rooms / accommodation units which can be booked in special conditions only using Bedcoins as a payment coin.

You can read more about it in there post:  Bedcoin is Planning to Create a Real Life Version of John Wick Continental Hotel

Currency Analysis Report 7/23/19 – I Think EUR/CHF Is Going To Parity

July 23, 2019 Published by

Swiss National Bank President Thomas Jordan is facing a new wall of pressure that could force him to push the world’s lowest central bank interest rate even lower.

The franc is already at the strongest in two years, and likely to move higher as the European Central Bank outlines plans for loosening. A dramatic shift toward parity could even prompt surprise action by Jordan before the next scheduled meeting in September. That’s something he’s not been afraid to do before, notably in 2015 with the shock decision to scrap the cap on the franc.

Source

The interests rate that the Swiss is pay in a minus 0.75%.  This means that you actually lose money if you deposit money in their banks.  However, the Franc safe haven status outweighs the negative interest rates given the stability of the Swiss government and its financial system.   Thus, when the global markets turn down, the Swiss franc tends to appreciate.

Which is why I’m still bullish the Swiss Franc, despite potential continued cuts in their interest rates because other central banks around the world are cutting interest rates, so it all relative and the global markets are slowing and eventually will turn.

European central banks have cut rates to history lows

It won’t be easy for the EUR/CHF to get to parity (1.000) as there are many level where buyers are waiting to battle the sellers, but I think the war will be eventually won by the seller.

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.

Overhead Caution On Nvidia

July 23, 2019 Published by

The bullish investing thesis on Nvidia (NASDAQ:NVDA), the current leader in GPUs, is pretty clear. GPUs work better than CPUs for artificial intelligence applications and as a result, the chip maker — and NVDA stock — seem well positioned in a market with what is essentially huge growth potential.

Due to its exposure to AI, NVDA stock will benefit from numerous secular growth trends in autonomous driving, big data, medical diagnostics, and more that could help lift sales and profits rise over time.

To keep its leading market share and meet bullish expectations, Nvidia will need to innovate and make better products than anyone else. Due to the uncertainty of how those products will be received, Nvidia stock has been subject to sentiment shifts. As a result of the shifts, the NVDA stock price has fallen from its late 2018 highs but is still up 23% year to date. Given the rally in 2019, is the stock a good buy now?

Source

There has been a lot of chatter on Wall Street that the semiconductors have bottomed. For example, Taiwan Semiconductor Manufacturing Company (TSM), is the world’s largest manufacturer of semiconductors, recently beat analyst estimates and signaled a rebound from the current chip down cycle.

If price is going to get to $200, it must get through this band of support / resistance.

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.

Bitcoin – possible next moves

July 23, 2019 Published by

 

Bitcoin continues to tread water – with gradual negative changes to its buoyancy

Here is what I think may be happening now, and what may happen next.

As BTC is clearly no longer rising in price, I have abandoned my bullish channel diagonal Fib levels and have replaced them with downwards sloping diagonal Fib retracement levels.

 

Viewed in the medium-term, the new levels look like this:

 

Seeing the above chart, my immediate thought was that BTC may be forming a bull flag. If it is a bull flag, then the most likely next move would be for BTC to break upwards out of the flag and to continue rising on the previous trajectory. This is not to say that BTC will not dip further before that happens.

 

My confidence factor wrt the bull flag scenario is not extremely high, it’s more a possibility than a probability. I place a likelihood of 40% on it being a bull flag. Because of this I would be cautious in trading it as a traditional bull flag – not that I trade BTC anyway, because I’m a hodler by nature.

Bull flag or not, BTC is dipping at the moment. While the drop in price may be arrested sooner, the new diagonal Fib levels indicate a possible bottom at around $8800. Remember that the Fib levels are sloping downwards, so if BTC dips later than expected, or if it dips again after that, then $8800 will no longer be the bottom of the dip. If BTC were to dip again in August, it would only find support in the $8500 – $8000 region.

 

Another thing I can’t help noticing is the similarity between this price movement, and that of various BTC price movements in 2017. Here is what BTC looks like now:

 

And here are similar BTC patterns from 2017:

 

…and similar patterns from earlier times too.

 

The important take away message from this is that this pattern is invariably seen during bull markets and usually precedes a price climb – before it reoccurs.

Summary:

I can’t tell what BTC will do next, but I am expecting a dip. After the dip there may well be another dip, or even multiple dips before BTC climbs again. It looks as if BTC will resumes its climb after the upcoming dips.

I think we are seeing a consolidation period, a time when weak hands are selling their 2019 gains and stronger hands are replacing the weak ones every time the price dips. Once this transfer process has completed, strong hands should dominate and the climb should resume.

I still think that 2019 bullishness kicked in too soon. The 2018 bear market is still fresh in the memories (and on the charts) of most investors: a reminder to be cautious. This is causing the price rise to be a case of “two steps forward, one step back” which is probably a healthier way to climb than an all out run to new highs. Consolidation makes a climb more sustainable, less volatile and less likely to lead to a big crash at the end of the climb – so it’s a good thing for investors.

Even though I am out of spending money, if BTC dips into the $8000s, I will consider using some of my fiat savings to buy more. This reasons for this are twofold:

  1. BTC has become more legitimate than I expected, sooner than I expected. It features prominently in mainsteam media and is often commented on by world leaders. Whether the press is in favour of it or against it, the exposure is good for BTC and the man in the street is starting to view it as a real contender/threat to fiat money.
  2. My faith in fiat diminishes by the day. Unfortunately, the majority of my saving are still in fiat. I am actively seeking good stores-of-value to place some of my fiat savings into. Crypto is risky, so one must be very careful about shifting money into crypto, but if I am going to be taking money out of fiat, then I might as well put a little more of that money into crypto. The rest will probably go into precious metals, I’m still busy deciding and watching the markets closely.
 
 

Yours in crypto

Bit Brain

“The secret to success: find out where people are going and get there first” 

~ Mark Twain

“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Crypto Contest July 23: Revain

July 23, 2019 Published by

Revain (HitBTC: RBTC) 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, Revain began a wave one advance on June 26. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 2, and the red wave two (blue sub-waves a-b-c) correction ended on July 21. If this wave count is correct, Revain should be heading next towards the July 2 peak in the red wave three.

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

Funnymentals

Revain is a review platform built with blockchain technology. You can watch their intro video below.

(Sources: Revain and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Halliburton Is Setting Up For A Short

July 23, 2019 Published by

Halliburton issued their second-quarter earnings report today.  The beat the expectations on earnings, but was short expectations on sales.

“International revenue increased 6% sequentially, confirming our expectation of high single-digit international growth for all of 2019. Momentum is building internationally and activity improvement should continue into 2020,” said eff Miller, Chairman, President and CEO. “Both of our divisions made meaningful contributions to growing North America revenue and margins in the second quarter. We are successfully executing our strategy of controlling what we can control and managing our business to perform well in any market conditions.”

Source

That was enough for the stock to receive a couple of upgrades.  Citigroup’s Scott Gruber reiterated a Buy rating and $33 price target and Stephens analyst Tommy Moll reiterated an Overweight rating and $45 price target on the stock, highlighting Halliburton’s ability to deliver “higher margins in North America despite macro headwinds.”

But here’s the problem, the Energy Select Sector SPDR ETF (XLE) is lagging the S&P 500,

and Halliburton is lagging the XLE

Although oil has risen since January lows, it’s still below $60.  Thus, there isn’t a lot of incentive for the producers to produce because they are marginally making a profit, so don’t have a lot of need for the service companies such as Halliburton.

Thus, despite the upgrades, the chart suggest to short Halliburton at the weekly supply at $25.25

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.

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