In Elliott Wave terms, MediBloc began a wave one advance on November 13, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on November 13, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on July 17 this year. If this wave count is correct, MediBloc should be heading next towards the November 2018 peak in the red wave three.
Litecoin has had a great run this year as it was once up over 300%. However, like all Cryptocurrencies in July, Litecoin has also pulled back as well.
With the halving event one week away, will the event help Litecoin price leg up like it has in the past? The block mining reward halves every 840,000 blocks, and this one will see it decrease from 25 to 12.5 coins. It’s a simple supply and demand equation and should make owning Litecoin more valuable.
After hitting the daily supply at $137, Litecoin has pulled back almost 50%, but has since bounced off the daily demand at $75. The chart suggests it’s going to be tough for the halving event to serve as the catalysts for the next leg up because recently the buyers failed to take out the sellers.
In additional, even if the daily supply at is taken out, the buyers have another battle with the sellers at the daily supply at $124.
The chart suggests this time around the halving event served as a buy the rumor, sell the news type of play.
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.
Yesterday I bought myself (another) 75 KuCoin Shares (KCS).
Yes, I know that my previous post was all about the KuCoin Exchange (The Best Crypto Exchange just got Even Better! (Again)). I apologise for the lack of variety, but this is important and time is of the essence! Similarly, I can’t just write another “Shopping Cart” post and risk you missing this important buy!
I bought those 75 KuCoin Shares (trading STEEM and Ethereum for them) in order to be able to take part in the latest KuCoin programme. Of course they only released this information after my last post – Murphy’s Law at work once again!
So what is the latest KuCoin programme (as if they haven’t already launched enough new initiatives this month already!)?
This is it:
From https://www.kucoin.com/news/en-kucoin-will-launch-the-kcs-lockup-cash-back-program-and-burn-plan
Of course, if you follow me on Twitter, then you probably already know this:
From https://twitter.com/brain_bit
If you have a Twitter account and you don’t want to follow me… then, well, I guess I’m sorry – I don’t know how to cure “stupid”.
What is the KuCoin Lockup Plan?
The lockup plan is a three-month lockup of KuCoin Shares on the KuCoin exchange. In other words, it’s a staking contract. The more you stake, the more you can earn. Importantly, the sooner you stake, the more you can earn too. And that’s where it gets impressive:
Recently I staked my WAX coins on their new native (EOS-cloned) blockchain. Returns on that contract amount to 100% over a period of 3 years, which I think is very good! But the KuCoin figures are even better: returns are far higher, working out to a rate which equates to an estimated annual ROI of 50%. Over the three-month period of their staking contract, that works out to just over a 10% return. Not bad for three months, especially with no work involved! That is, quiet simply, the best staking contract I know of in crypto. By far. Yeah you could also get those sort of returns by running the right crypto masternode, but that would probably be considerably more risky – and possibly a lot more expensive.
To get into the KuCoin Staking contract you will need a minimum of 200 KCS. The news of this opportunity caused a price rise in KCS, the tokens have gone up from around $1.30 each to around $1.60. Thus (at time of writing) it will cost you a minimum of $320 to get into the programme – which isn’t cheap, but I consider it to be well worth it if you have the money available! There is a good chance that prices may drop after the staking contract closes, but I really don’t care: KCS is a long-term hold and will no doubt shoot up in price as the platform gets busier (As it has before – to an ATH of $20.17).
Set your alarms:
The lockup plan works as follows: it runs for the month of August, but those who lockup first stand to score the most. Estimated returns start at an annual rate of 50%, but then drop off by 0.5% every day thereafter, so you want to lockup on day one! The staking contract opens on 1 August (I assume directly after midnight) and the time zone used for that is UTC +8. In other words, the contract opens at 16:00 UTC on 31 July, at least I think it does.
For the whales out there, there is a maximum daily lockup amount of 10000 KCS. There is another limit that applies to everyone: a maximum of 500 000 KCS can be locked per day, so don’t wait too long! If you do miss day one or two, it isn’t the end of the world, 49% annual ROI on day three is still pretty darn fantastic! Even if you lockup on the final day of the month, the annual ROI rate will still be 35%, which stillbeats practically any other staking contract! The entire lockup programme will stop if and when 5 000 000 KCS is locked. This could happen in as little as 10 days, or it may not happen at all. Here is an added bonus: however much is locked up in the programme (in total), that same amount of KCS will be burnt in December 2019. KuCoin are burning KCS like wildfire at the moment (check my previous KuCoin post), a trend which seems to be continuing. This is great for KCS holders, especially when they are getting more KCS for free! If 5 000 000 KCS is burnt, that will mean that the total amount of KCS in existence drops by 2.8%! If you prefer to work with circulating amount (which I do not advise), then that percentage rises to 5.6%! Remember: you can always check out the latest information about KCS specifically at the KCS dashboard at https://kcs.kucoin.com
You don’t have much to lose
For those who fear that KCS price will drop radically during the three-month staking period, take heart: you can cap your USD losses at 10%. This is because KuCoin have built a safety net into the system: they have a guaranteed service that works like this (in their own words):
After the KCS unlocks, KuCoin provides a service for repurchasing the user’s locked KCS at the price of 10% off the average KCS price (USDT price) on the day of the user’s lockup
What this allows you to do is to turn your recently unlocked KCS into USDT a price of 10% less than what it was worth during the lockup period. The programme is thus not only a good way to buildup your crypto holdings, but also a way to hedge against drops in the market! This offer expires 24 hours after unlocking and is only valid as long as you have not traded or moved your KCS.
On the downside, tokens locked into the new programme do not earn the usual daily staking rewards that KuCoin offers to KCS holders. However, those rewards are FAR less than what you stand to gain by participating.
Conclusion
I fully intend to lock up my KCS for this period, and I will do so as soon as I can. For those who don’t hold KCS, I think that the rise in the token price has been minimal and that it is still well worth your time to participate. I truly believe that KCS is an excellent token to hold and that it is greatly undervalued. I also firmly believe that KuCoin is a fantastic exchange. I’ve been using it for nearly two years now and I am 100% happy with it, in fact it often exceeds my expectations!
Following hot on the heels of “Soft Staking”, KuCoin is obviously focusing on staking lately and their offerings in this regard are extremely impressive. I hope they continue in this vein, if they do it should win them many new customers. I do not know what will happen after the three month lockup period ends, I know that your staked KCS will be returned to you, but I don’t know if another programme will follow thereafter, I hope it does! Perhaps it will become an annual event, who knows? At this stage information is still limited. Read the latest of KuCoin’s own articles about the the lockup here: “KuCoin Will Launch The KCS Lockup & Cash Back Program and Burn Plan”
If you are not a KuCoin user yet, please consider clicking my “KuCoin” banner in my signature and signing up wit my referral link. I get tiny amounts of some of your transaction fees if you do, for which I would be most grateful. While you are at it… remember that Nash goes live next month!
From https://twitter.com/brain_bit
Nash and its NEX token should become big names in the world of crypto exchanges. After its launch, I see Nash being the best DEX by far, even better than Binance DEX. Initially trading pairs will be limited, but that will change with time. The highly advanced Nash platform and the myriad added features should make it extremely attractive to investors and crypto traders alike. I have built up a relatively big stack of NEX which I am hoarding jealously. I strongly recommend that you look into NEX if you have not already done so.
In the meantime, why not sign up so long? Once again, I have a referral link in my signature. You HAVE to use a referral link to sign up – there is no option to sign up without one. This is designed into the system to help spread the word. The referral link gives you entry into a competition: you can win BTC and NEX by signing up. The lucky draw is at the end of the year, and the more people you refer with your own code (that you will get after signing up), the more entries you get into the competition. I have never been this excited about the launch of an exchange before!
Yours in great crypto exchanges Bit Brain
Attribution: Featured image from https://www.kucoin.com/news/en-kucoin-will-launch-the-kcs-lockup-cash-back-program-and-burn-plan
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”
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.
In Elliott Wave terms, CPT began a wave one advance in August 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in October 2018, and the red wave two (blue sub-waves a-b-c) correction ended on July 21 this year. If this wave count is correct, CPT should be heading next towards the October 2018 peak in the red wave three.
Since volume keeps on diminishing and trading activity slows down due to narrowing prices I am trying to get the most positive scenario thus I am considering the possibility of being in a “Falling Wedge” Pattern:
The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam. When this pattern is found in an uptrend, it is considered a bullish pattern, as the market range becomes narrower into the correction, indicating that the downward trend is losing strength and the resumption of the uptrend is in the making. (Source)
If this pattern is triggered, the most likely result would be the continuation of the trend previous to the pattern, so UPTREND…towards 14000 USD.
But then, you have another pattern in formation, this time is the other face of the coin…
Yep, a very bearish pattern here, pointing towards 4800 USD.
In my opinion, nowadays we have a 50/50 chances on one of the both options so, very difficult to take a decision now… we have to wait for one of the two get triggered and follow the trend.
What about you?
Let’s see what is the opinion of the audience here.
I am curious to read what is your opinion about which of the two proposals are more likely to happen next. I will upvote all the comments on that regards.
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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.
Price is once again consolidating on top of the $9,400 support after a quick drop to $9,100. The larger ascending support line seems to have turned into resistance.
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.
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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Opportunity is a haughty goddess who wastes no time with those who are unprepared.
George S. Clason
No TA expertize is required to see that the short-term chart is clearly bearish. The general consensus seems to be a drop to 8.5k, filling the CME gap, or roughly 7.5k, resting on the 200 day EMA. Many analysts also point out the likelihood of the market front running this decline and therefore lessening it or an overshoot briefly dropping price well below the 200 EMA.
The majority of analysts see a quick rebound from these levels an analysis I myself share.
As a consequence, I have laddered buys on BTC at 8.8/8.6/8.4/7.8/7.6/7.4/7.2 and 6.8 (largest entry).
These are all small buys representing in total 30% of
my currently allocated new capital for BTC.
However, the majority of my investable capital remains side-lined and this is why.
Hunting the Outlier Opportunity
If BTC hasn’t in fact bottomed-out – a decline to 1.5k
is still in play.
Is this likely -no.
Is this off the table – no.
Why 1.5k – well this is simply a reference point – lower than the previous low of 3.1k is my point of focus.
Why Care?
A 1.5k BTC would constitute, in my opinion, an unlikely to be revisited entry point opportunity. No doubt should the price collapse to such levels the doomsayers will be legion – all is lost will be the dominant narrative and that narrative will be completely wrong.
Now do your own research here but from the multi-year research I’ve conducted, BTC would in no way be fundamentally undermined by a drop to sub 2k. Of course, some miners would shut up shop. The network’s hash power would almost certainly decline and steeply so. Nonetheless, the fundamental value proposition of BTC would remain undiminished.
So 2k or Nothing?
No.
In terms of my own portfolio – I have decided to
ladder in increasingly large positions at these levels
5.6k / 4.6k / 3.6k / 2.6k / 1.6k
None of these orders are yet on an exchange but should price break 7.5k then they will be placed.
These are all binary outcome positions – there is no stop-loss.
The investment horizon is 10 years or more.
Should price collapse to this area what I won’t be doing is looking to the mainstream media or Telegram or Twitter for guidance.
Bitcoin’s long-term price outlook depends on none of
those sources nor is it entirely bounded by the chart.
A new mechanism to store wealth offers an ROI of unknown magnitude and given its short trading history charts can only take you so far in analyzing BTC. For that, you need to be willing to assess/research the fundamentals of the project and draw your own conclusions once you’ve done so.
What About Missing the Boat?
Well, as I’ve been accumulating Bitcoin for the last 8 months – this isn’t relevant.
If you haven’t bought any BTC to date – waiting on 1.5k is a low probability outcome.
In addition, I purchase BTC every week – dollar-cost averaging greatly simplifies the process of accumulating BTC.
When Does this Outlier Hypothesis Become Irrelevant?
https://www.tradingview.com/x/WUEDfXSR/
An open and close above 13.8k on the weekly chart closes the book on this outlier proposition and would see me looking to enter capital on substantial dips into the 10k zone.
So This Guy is Saying BTC is Going to Fall to 1.5k?
No – not at all – this is an outlier proposition but one which is still worth planning for because:
A) It might offer an excellent accumulation opportunity.
B) If you haven’t entertained the idea that BTC may fall to this level – you are very likely to panic were it to do so. Panic is a terrible investment partner.
C) Focusing on lower-entry point outlier opportunities highlights the very real risk involved in investing in crypto.
Read This
It’s your money – you worked for it – it was hard to acquire – don’t let the greedy monkey inside your head convince you to ‘over-invest’ in BTC or any crypto. Take your time and research Bitcoin and the market in general before you deploy any capital Only after a period of learning, and reflection should you purchase crypto. Always remember – high risk is not a concept – there is a high percentage chance of you losing everything you invest.
In Elliott Wave terms, BWX began a wave one advance on July 22. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 23, and the red wave two (blue sub-waves a-b-c) correction ended on July 27. If this wave count is correct, BWX should be heading next towards the July 23 peak in the red wave three.
