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Dogecoin…Now Listed On Binance

July 8, 2019 Published by

Dogecoin is a cryptocurrency which got its from the “Doge” Internet meme that features Shiba Inu dog as its logo. What started out a joke, it now has it’s own online community and is ranked the top 30 coins according to CoinMarketCap.

Jackson Palmer is an Australian entrepreneur created Dogecoin as a joke.  However, what started out as a joke, grew through social media, has an active community and has now been listed on Binance.

After years of waiting, Dogecoin (DOGE), the popular meme-based cryptocurrency, has finally been added to the world’s largest crypto exchange, Binance.

The reasoning behind the sudden listing of one of the oldest cryptocurrencies is seemingly fairly straightforward: people simply love Dogecoin.

“This one is an exception [to Binance’s strict listing policies], as there isn’t much new tech development (I guess it was never about the tech for this one),” explained Binance CEO Changpeng Zhao. “The users/community is large, and a famous ‘ex-CEO’ (cough  Elon Musk) helps!”

Source

So where is the price of Dogecoin headed next, after the major weekly resistance/support line at $0.002 has held earlier this year and with price respecting the weekly up trendline, the chart suggest price is headed to the a short term target at $0.007.

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 7/7/19

July 7, 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.

Crypto isnt a scam. But why does the market so badly want to make it seem like it is?

July 7, 2019 (updated July 7, 2019) Published by

Been looking at the twitterverse lately. @nathanmars still going strong pushing Steem exposure forward. Bitcoin maximalists talking trash and shilling Bitcoin like its the second coming when in reality its the FORD T of crypto right now. Binance listed Dogecoin yesterday (facepalm) with the justification of:

Elon Musk mentioned it that one time!

Dogecoin went up 40% that day (i assume there was a correction soon after)… But it begs the question of how the hell did it end up at 30 in MC anyway?

I never understood this. The coin itself is a joke, had almost no development whatsoever for a long time and you hold it instead of putting it into a project with greater value and potential?
It doesnt even have to be something you research thoroughly, something thats hyped up like Tron, supported like Bitcoin…. It can literally be anything. You could literally write all the top 100 cryptos without Dogecoin, each on a piece of paper and pull them out of the hat and you would draw a superior token to Doge. Yes even BSV.

But look at the other projects. Ive talked trash about ETC being listed on Coinbase. When i tried researching ETC and its usage. What i found is almost no info on any dapps and 200 times less daily transactions then STEEM.

Take a look at TRON. Hyped beyond belief, filled to the brim with gambling dapps and still has less transactions then STEEM… Im not saying transactions stats are be all, end all, but JustinTRON loves to proclaim when ever Tron passes EOS in any metric.

A few days ago i wrote this tweet:

And i really do believe it.

If McAfee said he would cut of his penis if BTC isnt at a million USD by whatever date, i will copy his wager and say that if STEEM ever reaches 10 billion USD, a third of ETH market cap right now, and one of the Steem social dapps doesnt overtake Facebook, ill cut my penis off as well and toss it into the long dark night never to be seen again. lol

On a more serious note.

The fact that we are seeing lackluster projects taking top spots in Marketcap is for me a warning sign. It shows to me that the market has a very hard time evaluating projects. Seeing Doge being listed on Binance strengthens that belief.

You can say im wrong to do so, but I will question the future of any market that sells trash assets at a premium price in the long term.

I believe that crypto has a sound foundation. I believe it has the potential (important word) to change the world, but to realize that potential the market needs to take a serious look at itself.

Ruining the perception of the outside world about cryptocurrencies will bring nothing good to anyone in the long run.

XMR technical analysis

July 6, 2019 Published by

XMR seen from the temporality of 1D we can observe the setup of a diagonal expanding, the points of the movement are marked in the graph in blue color, we can see that the point four has respected the figure drawing itself up diagonally to the point two (I have traced it with a diagonal red color), we should expect a point five up diagonally to the point three, to complete the pattern we should reach the area that I have marked within a blue rectangle that is located within the price range of 131.95 – 137.60.

XMR seen from the temporality of 4H we can observe more closely the current movement of the candles, we see how the price has respected the key support located in the 83.48 where it has found demand, therefore, has taken the necessary bullish impulse to break the point EQ located in the 95.28, the current candle is beginning to show signs of a possible retreat, we could have a pullback below the point EQ and take impulse again in the support I have indicated with a blue horizontal color located at 92.56, if you respect this support, the price would be forming a setup of SHS (a very bullish pattern), this figure will be important to convince the bulls to go for point five of the major figure.

In conclusion, if we have a recession in the price below the EQ point, we should later claim the 95 again to follow the ups in the next move of XMR, overcoming the resistance of SUPPLY located at 104.35 the price will not have problems to reach the range of 131.95 – 137.60 mentioned above, as always, I recommend to be very attentive to the movement of the next candles of 4H.

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: The Battle Between Bulls and Bears

July 5, 2019 Published by

Bitcoin continues to consolidate on higher time frames. Price is respecting both a descending resistance line on smaller time frames, as well as a longer term ascending support line. This battle between bulls and bears will likely come to an end no later than early next week.

Screen Shot 2019-07-05 at 1.38.35 PM.png
Screen Shot 2019-07-05 at 1.39.05 PM.png

In today’s video we’ll discuss where price may be heading next, key areas to watch 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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Crypto Advice: Influencer Does Note Equal Knowledgeable

July 5, 2019 Published by

In this era of podcasts, blogs, videos and such just about anyone can become an influencer if they hit something at the right time and have a little luck.

This isn’t to say that cream doesn’t rise to the top, but there are plenty of people with just an opinion throwing it out as advice and have gained a cult following to give it credibility.

Who are you taking advice from – should you be?

With so many crypto personalities and influencers out there it is tough to weed through all the crap.  However there are some thing we can do to see if someone is worth listening to or just pushing their opinions of an agenda.

Experience (qualifications)

There is something to be said for experience, especially because I truly believe in the statement

  • Experience is the best teacher

With that said, has someone who is giving advice on the price action of cryptocurrencies shown a track record of success?  How long have they been actively investing in crypto?  Is the information they are providing useful to you in a way that it adds value to your decision making or knowledge base?

Actions Speak Louder Than Words

An influencer that is spouting out a particular piece of advice, or even a specific call, are they acting on it as well or actually doing something different?  It happens more often than you think.

Simple But Worth Pointing Out

These things seem obvious but we are emotional creatures and get caught up in hype and propaganda and the reality is it works.  I know that if I was more outlandish and over the top I would get more eyeballs on my stuff.

But, after looking back on things like Bitconnect and obvious sh*t coins that were nothing but an ICO pump and dump it is good to remind people to pay attention to who and what they are listening too.

THERE IS ALWAYS UPSIDE AND DOWNSIDE RISK TO ANYTHING YOU INVEST IN.

 

 

QTUM technical analysis

July 4, 2019 Published by

QTUM seen from the temporality of 1D we can observe how the price maintains a movement of (EW), after forming the wave number three, QTUM has entered into accumulation where it has found support within the price range of 4 – 4.1, which is indicated on the graph within a blue rectangle, this structure is forming the wave number four of the current trend, therefore, it is a good time to buy to go for more profits in the fifth wave that I have placed in the price range of 7.6 – 7.9.

QTUM seen from the temporality of 4H we can observe more closely the bullish banderin, a pattern of continuation of the bullish trend, in the graph I have marked the points (ABCDE) that has already formed this setup, currently the candles are consolidating in support forming point E and last of this pattern, we should see the price rise from here to test the resistance of the figure and look for the break up to the rise.

In conclusion, the price is forming a pattern of continuation and the movement has already formed point E, therefore, this is the best time to enter long and take advantage of the next movement of the price, I recommend to be attentive to the movement of the next candles of 4H, the price should not fall beyond 4.8, as this would be causing us an invalidation.

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 Gave Us the Pullback – Is it Now Attempting to Bounce?

July 2, 2019 Published by

A few days ago we looked at the weekly price chart of bitcoin and saw why it was a screaming sell and primed to pullback.  We’ve gotten a pullback to the first key level and price is showing some resilience now.

Seller Bounce or Reversal Toward Higher Levels?

Looking at the daily chart above you can see we have a reversal pattern in the workings.   Today’s candle needs to close above 10,500 for it to be valid, right about where price is at the time of this post.

That would give us the bullish-turn pattern I use for entry signals.  However, is the a new long-term entry or just a trade?

I say it is just a trade as nothing has changed on the weekly chart.  It is still extended from the 10 period average and this is the first candle after that nasty reversal candle that marked the end of last week.

Price has tested the 9,800 level I have mentioned in the past and is bouncing off of it.  Maybe that is the only test of it and we move higher, but I can’t help being a skeptic and thinking it will test it again, especially with 10K being such a psychological number.

See below..

Conclusion

With all that said I’m staying nimble and will enter long for trades only for the time being.  If this daily candle gives what we want I will take a shot.

Chainlink And The “Coinbase Effect”

July 2, 2019 Published by

The “Coinbase effect,” where a cryptocurrency’s price surges after its listing is announced on Coinbase, is alive and well for Chainlink. The altcoin highly lauded by speculators surged 117.2 percent three days after its first listing on Coinbase Pro.

The coin saw a 16.3 percent increase 8 hours after its listing on Coinbase Pro, and experienced a 23.5 percent surge 12 hours afterward. Following LINK’s listing on the Coinbase retail platform, the coin surged 34.1 percent; 12 hours following the retail listing it saw a 62.8 percent cumulative jump.

Since the phenomenon was first observed, some sources reported that the Coinbase effect was diminishing. The diminishing impact on price could be attributed to Coinbase’s looser standards for adding digital assets or greater access to reliable exchanges.

Source

ChainLink is a platform which attempts to bridge the gap between smart contracts on the blockchain and real-world applications, which often tend to be off the blockchain. The cryptocurrency uses “oracles”, which find and verify real-world data and bring it on-chain to be integrated into smart contracts.

Regarding the recent surge in price, what I’m personally anticipating is a traders taking profits and price pulling back.  A very nice entry to go long would be below the $2 level which would represent a 61.8% retracement.  However, the ideal level to go long is at the daily demand at $1.14.

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.

LTC technical analysis

July 1, 2019 Published by

LTC seen from the temporality of 1W we can observe the movement of elliot waves that has been following the price to perfection during its course, currently, the price is doing the correction of wave number four, we know that in the corrections the candles form an ABC pattern during their descent, therefore, taking into account that pattern and the support of level 61 fibonacci, the price should go down to 92 where we would have our point C, in the chart above I have indicated through a horizontal blue color the area where the price should come to then continue with the fifth wave of impulse, to complete the drawing we see in the image above we would have a structure called: diagonal leading, this type of structures make a movement ABC, these points I have traced in the graph in red, point B must come near our point four of (EW) and continue with the point C impulse, I have placed in the nearest resistance located in the 272, the price could correct and continue rising more, however, this point would be a good target.

LTC seen from the temporality of 1D we can see how the price is forming the classic ABC pattern of correction, the previous candle has broken an important fibonacci support in the 125, the current candle is testing it as resistance, the price should not have problems to continue lowering, if the price closes above that level and confirms us, we would have an invalidation and wait to see the direction the price will follow, for now I’m still short.

In conclusion, it is very possible that we have a new buying opportunity below 100 dollars with a target set at 272, LTC in 1W you can notice a cup & handle in formation within the major figure, therefore, LTC turns out to be a good investment in the long term.

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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