Blog – Page 400

Bitcoin Technical Analysis: PRICES SPIKE, BUT DON’T GET COMFORTABLE YET

January 14, 2019

Bitcoin’s price spiked from a low of $3,480 to $3,700. It’s currently trading around $3,670 on Coinbase. We know $3,600 was acting as a strong support before prices dropped 2 days ago. Often when a support is broken, it starts acting as resistance. In this case, when price spiked, $3,600 did not act as resistance. This gives bulls some hope for a larger rally. Let’s now see if $3,600 starts acting as support again.

This latest rise in price also came with a drop in long positions. In other words, traders to profit. This is a healthy sign.

Unfortunately, overall daily volume

Cancelled Two Forex Pending Orders

January 14, 2019

It’s January 13th and I have yet to place a trade in forex 2019. By no means is it due to the lack of volatility. For example, when Apple pre-announced two weeks ago, the Japanese Yen pairs went bonkers. For example, just look at what happened on the USD/JPY.

The pre-announcement occurred after the US session close. During the period between the US close New York and the Tokyo open in Tokyo, few human traders are involved in the forex markets. More than likely the flash crash was algos sniffing the internet for news and sold the Markets when Apple

No Kevin, Bitcoin will NOT bite the dust – Part 2

January 14, 2019

Yesterday I wrote about an article written by economist/financial expert Kevin Dowd. It discusses why Bitcoin will become worth nothing. I disagreed, but I did not say why he was wrong. Now I am doing just that.

I have finished formulating my counter-arguments, but in true Bit Brain style, they are longer than expected. Thus I am further subdividing this post into two – I will discuss his two main arguments in one sub-post each.

For this post to make any sense, you first have to read: https://mentormarket.io/bitbrain/no-kevin-bitcoin-will-not-bite-the-dust/ for the background information.

From www.pexels.com

Why Kevin is wrong:

First Argument: Bitcoin mining is a natural monopoly

Bitcoin is

STEEM – supply/demand basic | more slow bleed to come steemit 34 mil dump ahead

January 14, 2019

Basic of supply and demand, and price of steem probably gonna head down lower via slow bleed effect in the coming weeks. I was just talking about the huge dump by steemit yesterday and following that, they started FULL powerdown and release of 10 mil SP delegation to steem.
On 4hr chart, test the low of 700 and bounce following btc movement. Despite the huge amount above, powering down will take time and as usual they are likely to do it via slow bleed. Possible down channel. Next support level around 680 near channel bottom. Distributed buy walls below 700 to

BITCOIN – some more room before channel bottom

January 14, 2019

Shortly after i posted btc analysis yesterday and it sell off below 3680 support. Possible short covering bounce. Still some more room to go for testing channel bottom around 3400 zone.
News: (Current) | (Upcoming)
Short term moving average (day candle) :
RSI :
Network Value to Transactions Ratio :123
Total marketcap :118
Dominance :52.9
Bitfinex Margin Long/Short Volume Ratio :
Depth Chart : (S) | (R)
Weekly Timeframe :

Crypto Contest January 14: Agrello

January 14, 2019

Agrello (Binance: DLTETH) 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, Agrello began a wave one advance on August 16, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on October 30, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on December 29, 2018. If this wave count is correct, Agrello should be heading next towards the October 30, 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Agrello platform is a dashboard where you can manage your identity, create contracts,

BITCOIN: Testing and old resistance

January 14, 2019

Early yesterday we saw a sudden drop of the BITCOIN price followed by a short and shy consolidation movement upwards…

The drop was expected since the Elliot Wave count was alerting about that in order to complete a long 5-3-5 Correction…

The question is, does the drop terminated? It may have been terminated, actually it looks like a very short but probable 5th wave…

In order to know it we have to see how BITCOIN manage in front of the next resistance:

The RSI indicates oversold condition but the Constant Low Volume does not bode high hopes for recovery…

My plan keeps alive, for the

Goldman Sach Just Jumped On The Wagon

January 14, 2019

About one month ago, I noticed what looked like a smiley face…a bottoming pattern forming on Gold.

Metal Analysis Report 12-7-18…Do You See What I See???

YES, YES, the chart is suggesting price is forming a bottom and also broke the daily down trendline last month.

Then three weeks later, I noticed some bullish unusual option activity on Newmont Mining. But more importantly, the bottoming pattern was confirmed by the specific pattern that I look for in reversals.

Unusual Options Activity In Newmont Mining

Then a week later Jim Cramer jumped on the bandwagon. CNBC’s Jim Cramer said on his show, Mad Money that

Definition of a Risk Taker

January 14, 2019

Investing has risk. There is no two ways about it. Some investments have very marginal risk while others have much more volatility, either way you need to take risks if you want to invest.
Definition of a Risk Taker
Do you know what the definition of a risk taker is?
It is…

Someone who steps into the game without already knowing the answer.

Here’s the thing – we never know the answer.
We can analyzed a bunch and put the odds well in our favor, but you do not know 100% how an investment will play out, well atleast anyone that includes even a morsel of

No Kevin, Bitcoin will NOT bite the dust

January 13, 2019

“…I have also yet to hear a single intelligent challenge to this argument from the bitcoin community. Instead, the typical response has been personal abuse. Name-calling is no substitute for a reasoned response.”~ Kevin Dowd. Source: https://www.coindesk.com/bitcoin-will-still-bite-the-dust

CHALLENGE ACCEPTED

Kevin Dowd, a professor of finance and economics, wrote an article titled “Bitcoin Will Still Bite the Dust” which was published on www.coindesk.com on 13 January 2019. It’s based on a 2015 paper of the same name which he co-authored.

I haven’t read the 2015 paper and I certainly don’t intend to. For me the article alone was cringe-worthy. It contains statements in support

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