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Tag: crypto

FTM technical analysis

August 9, 2019 Published by

FTM seen from the 1D temporary we can see how the candlestick structure looks bearish, the previous candlestick closing below the ITZ point (important trading area) has caused bears to gain ground and we see it reflected in the current candlestick with its bearish momentum, the 1D demand zone located at 0.01802 does not seem to support the price for long, does not seem a very strong support, the major setup that shows FTM is a descending wedge so we should expect the price to form a new LL in or near the diagonal support of the figure, in the chart above I have drawn the possible trajectory that should follow the price in its path.

FTM seen from the temporality of 4H we can observe more closely the current movement of the candles, as we mentioned earlier, the price has been pushed violently down after the support drawn on the chart was broken by a horizontal blue color located at 0.02027, from here we should continue to see the price fall until we find the support of the larger figure, I have drawn the diagonal fall as resistance of the downward wedge, we see in the chart in blue.

In conclusion, when the price draws us a C point in the price range of 0.13 – 0.12 will be our best entry opportunity, the price should find strong demand that drives the price towards our target located in the price range of 0.02426 – 0.02554, we can make very good gains with this trade, however, I recommend as always to be attentive to the movement of candles in 1D and wait for the price to reach us.

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

LINK technical analysis

August 7, 2019 Published by

LINK seen from the temporality of 1D we can see how the structure of candles has found support within an important area of demand marked on the chart with a blue rectangle located within the price range of 1.9628 – 2.0597, the smaller figure shows a trend reversal setup, however, the price has found resistance in the blue horizontal located at 2.4909 so we could see an ABC structure approaching the support located at 2.1250, so we can see a change in trend, the price has to mark an HH above the blue horizontal mentioned above.

LINK seen from the temporality of 4H we can observe more closely the current movement of candles, we see that the price falling below the blue horizontal has made a pullback confirmation bearish which should cause the price to fall towards the area of demand indicated within the chart with a blue rectangle located within the price range of 2.1250 – 2.2027, the price should find strong demand in that zone so that we can see an upward momentum to position the price above 2.4909 and we can see a change of trend.

In conclusion, the price should retreat into the price range of 2.1250 – 2.2027 creating an ABC structure which would be the beginning of a game of (EW) of the next impulse of the major figure, if the price falls below that zone of demand we should wait for the reaction of the price in the major rectangle seen in the graph of 1D, if the price falls below that zone, the downward probailities will be greater, it is advisable to wait for confirmation in any of the areas indicated in the graphs above inside the rectangles and be very attentive to the movement of the next candles in 4H and closing the daily candle.

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

STEEM technical analysis

August 5, 2019 Published by

STEEM seen from the temporality of 1W we can observe how the price in the last weeks has been changing the momentum when approaching the second zone of demand in 1W located in the 0.2181, we can clearly see this change in the bodies of candles, we also have bullish divergence from the technical indicator RSI, we see that the relative strength has come up during this structure with double floor potential, in a short time we could see a strong upward movement, we still need to see a bull candle to confirm the intention of the bulls, but the scenario is quite good.

STEEM seen from the temporality of 1D we can observe more closely the current movement of candles, the last two candles have found support in the same horizontal, we can see in the double floor formed by their wicks, if the current candle ends this way we could see a bullish candle that makes us a bottom tweezer in the next session, within this temporality we also have bullish divergence in relation to the technical indicator RSI, the movement of candles has drawn us a bearish inclination while the relative force has come in increase.

In conclusion, after several weeks of strong bearish movement, STEEM seems to show signs of a possible change of trend with, this change may be very strong, the target zone is the supply zone located at 0.3449, we still need to have bullish confirmation, however, the divergences present already begin to warn us of a possible reversal, I recommend to be very attentive to the closing of the candle and confirmation with the next, we could have a +50% gain once we reach the target.

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

NANO technical analysis

July 30, 2019 Published by

NANO seen from the temporality of 1D we can see how the price has made an upward movement after making a tweezer bottom at 0.9083, in the upward movement has made a correct structure of three points so we should expect a decline in the price to the area indicated in the chart within a blue rectangle that is located within the price range of 1.1320 – 1.2082, the bulls will be located in that zone of demand where the price should have a positive reaction, otherwise, the price would be put into a bearish structure.

NANO seen from the temporality of 4H we can observe more closely the movement of the candles within this structure, we see how the price has drawn us a double ceiling near the weekly supply, this setup is a reversal of trend so it would support our operation and zone of demand mentioned above. In the chart above I have also drawn the possible trajectory that the price should follow over the next few days.

In conclusion, the current structure of the price movement is very good to look for a next long entry, for this we must wait for the price reaction once it reaches the demand zone located within the price range of 1.1320 – 1.2082, a continuation setup (ABCDE) must be formed to continue towards our objective that I have pointed out in the first graph above located at 1.7799.

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

BNB technical analysis

July 29, 2019 Published by

BNB seen from the temporality of 1W we can observe a bearish structure, the price after finding resistance at 0.0043046 has ended up making three bearish candles to finally find demand zone at 0.0027506, the consolidation in that support has not been defined towards which direction will be the break, we see that bears are preventing the candles close above 0.0029989, if we continue like this, the price could break the consolidation down and continue with the downward structure, the main demand zone I have located at 0.0012657, where the price at that point should have a very large bullish momentum.

BNB seen from the temporality of 1D we can observe more closely as the price is creating a reversal setup trend, the pattern is not yet confirmed, the candles could do a throwback to the blue horinzontal that I have drawn in 0.0027506, if you can test it as a support and we see a next bullish candle we could have a rebound to the resistance located at 0.0034230, otherwise, the price could fall below the horizontal and test it as resistance and continue to fall.

In conclusion, the major structure is bearish, the price of BNB should continue to fall until reaching the support located at 0.0012657, we could have a rebound in 1D, however, while the price does not take as support 0.0034230 and continue to rise, the price will see it falling further. Keep in mind that the price of BTC is with the same structure and should continue to lower affecting the alts market in general, the volume of the alts with their pairs in BTC is still very low in most currencies, so I recommend to be very attentive to the movement of candles in 1D and observe the action of the BTC price.

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

Bitcoin: Discussing the Next Move

July 28, 2019 Published by

Bitcoin continues to consolidate on top of known support at $9,400. Daily volume is around $12 billion, the lowest since April.

Screen Shot 2019-07-28 at 12.48.19 PM.png
Screen Shot 2019-07-28 at 12.36.01 PM.png

In today’s video we discuss where price may be heading next, key areas to watch, traps to avoid 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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Cryptocurrency Relative Strength Analysis Report For Week Starting 7/28/19

July 28, 2019 Published by

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

Source Image

Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

Based on the moving averages and the last daily closing price, relative to the moving averages,

the altcoins relative strength, relative to Bitcoin are the following:

Two Weeks Ago

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.

Cryptocurrency Relative Strength Analysis Report For Week Starting 7/22/19

July 22, 2019 Published by

When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin.  Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin. 

When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.

Source Image

Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.

Binance

EOS

Ethereum

Litecoin

Neo

Steem

Tron

Zcash

Based on the moving averages and the last daily closing price, relative to the moving averages,

the altcoins relative strength, relative to Bitcoin are the following:

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.

MATIC technical analysis

July 17, 2019 Published by

MATIC seen from the temporality of 1D we can see how the price has reached a point ITZ where it has found demand and the current candle is being pushed above the support located at 0.01230, however, I still do not see any technical indicator confirming the movement, nor do we have any reversal pattern here, the candlestick structure is still inside the falling wedge so it could still touch the resistance of the wedge to make us a new LL where it would be a stronger buy signal for the bulls.

MATIC seen from the temporality of 4H we can see more closely the current movement of candles within the descending wedge that we have mentioned in 1D, we see that the current bullish candlestick momentum is finding resistance below the previous HL, this is a signal of continuation of the bearish movement, there usually has to be a succession of three HL structures, if the price starts to fall we should see the price fall towards the area of demand marked on the chart within the blue rectangle located within the price range of 0.00883 – 0.01029 where we would have a trend reversal pattern and a much more contracted price within the figure that would cause a strong bullish break.

In conclusion, the price seems to be forming a continuation of the bearish movement, so I recommend looking for a better entry into the demand zone of the blue rectangle, once we reach that zone the price is more likely to make the bullish break and reach our goal, in the chart I have drawn the possible trajectory that the price should follow in the next candles to reach 0.02756, which is an important level of supply that we must consider.

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

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