BTC 29 Jan – still on track

This is a short update to explain the price movements of today in terms of yesterday’s prediction.

In the post “BTC update” yesterday I explained that BTC was both in a channel (forming a bull flag) and a converging triangle (signalling a breakout) as shown below:

From https://mentormarket.io/bitbrain/btc-update/

The triangle has now broken out – with some noteworthy results.

Made by Bit Brain with TradingView

The triangle broke downwards:This was obviously not the positive breakout from the channel as I had hoped it might be.The price dip to a new 2019 low of approx $3380 did not break through the bottom of the channel: The channel remains intact and that the bull flag scenario is still in play.While still remaining in the channel, the probability that

BTC update

This post is based on my last BTC post of 24 Jan

In that post I discarded my previous converging triangle and proposed that BTC was forming a bull flag.

Looking at the recent developments of the last week, I have a modification to that theory:

BTC once again appears to be forming a converging triangle. It has not yet broken out of the channel I described in my previous post and is thus still forming the bull flag. Shown below is the chart I used in my previous post:

From https://mentormarket.io/bitbrain/btc-24-jan-a-change-of-direction/

BTC remains range bound, so the bull flag remains in play for now.

Did EOS just release the name of its’ Steemit 2.0? $EOS #eos #steem

Rumor circulating around that the new social network built on top of the EOS blockchain is going to be called…
MEOS
Does anyone have ay more information on this and what it is suppose to be like? We all knew Dan was working on another social site, but is this the one he was talking about? If you know of anything I am missing leave it in the comments!
Thanks

What actually matters in the Cryptocurrency Evolution

Cryptocurrency is the next internet. Most of us heavily involved, or trying to get heavily involved, in crypto application and dApps know this. We are the believers. The 2% in my opinion. After the most recent bubble, the public is just now starting to figure out that Crypto is the real deal (and believe me there are still many doubters) and the tipping point was made.
The Question is, how do you find the real winners that will change the world?
What you want to be looking for is projects being used in real life applications. What projects are actually being utilized

BTC 24 Jan – a change of direction

As I promised in my post of 22 Jan “Once I have better information I will publish an update in this regard (if necessary). “I have better information. You’re reading that update.

You can see my previous BTC post here: BTC 22 Jan – Medium-term updateIn it I proposed two possible scenarios: A drop to lower price levels or a modification to the tapering triangle we were in, resulting in a later price breakout.

In that post the price had just dropped through the bottom of the previous triangle, but not definitively so. For further details on those scenarios, see

BREAKING: Steem up 78% since @steemit full power down.

The market doesn’t lie folks. And it is speaking. Steem is trading up on a few catalyst but most of the talk is about the deposit/withdrawals and arbitrage opportunity on Bithumb. I am not completely a believer of this scenario. The power down of @steemit started at the EXACT same time and the market continued to RIP up on this news. 7 straight days up in the air topping out at recently $0.44.

Both of these are GREAT NEWS, and I believe the latter is even better. Stinc has continued to FAIL it’s users and it is time for the WITNESSES

Steem showing Positive Divergences #crypto #cryptocurrency #blockchain

Ever since the announcement that @steemit was powering down and Bithumb was going to open up Steem accounts, the price of steem has been ripping higher. Now it is over 70+% from the bottom and currently trading higher than $0.40.

Looking at the charts, steem is one of the only cryptocurrencies that is currently trending higher over this duration. Many of the others were going sideways and are not selling off. Steem is not. This is called RELATIVE STRENGTH. This is what you want to be seeing, assets bucking the trend and moving positively. This may mean nothing because None can

Steem Rallies 70+% on @steemit Full Power Down…EMBRACE THIS #crypto #blockchain

You can’t make this up folks. I have been saying this for months, in fact many have been saying this for a while. And now the MARKET has reacted to it. While EVERYONE (many) on Steem blockchain moan and groan about @steemit powering down, I am like…

Steem immediately went straight up over the next 6 days once @steemit started the full powerdown. The MARKET loves this. For a reaction of 70+%, you can’t argue with the price. If you have been around markets (all markets rhyme) then you know that PRICE is what matters. This news is positive, don’t let

Get. On. The. Blockchain. Rocketship.

It is such a good thing for the ecosystem and crypto itself that bitcoin an cryptocurrencies are not in the news every hour of every day like they were in 2017. This makes it so much easier for the blockchain believers to concentrate and help evolve the technology, rather than constantly hear from people gambling and tweet hating everywhere about crypto. It is actually pleasant. It is possible that the crypto stars are beginning to align again.

First off, bitcoin is not technically broken until it goes under 1150. This is quite crazy but you can see in the past bubbles

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

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