In Elliott Wave terms, ZB began a wave one advance on June 4. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 30, and the red wave two (blue sub-waves a-b-c) correction ended on July 2. If this wave count is correct, ZB should be heading next towards the June 30 peak in the red wave three.
ZB.com provides trading service for blockchain asset such as Bitcoin, Ethereum and Litecoin to the customers around the world. FX Empire reviewed the platform last year.
First, let’s start with a question – Do you hold any Bitcoin?
If the answers is no – then the road ahead is simple:
Only buy crypto once you’ve researched it and have some basic understanding of the tech.
After that if still interested – buy some Bitcoin.
Do not pass go and buy XYZ crypto.
Don’t run off to the charts (you likely only vaguely understand) and try to read the technical tea-leaves – buy a small BTC position when you feel comfortable doing so and hold it for the long-term.
This is the calculated risk you would be taking:
a) BTC succeeds in becoming an at scale player on the world financial scene. If a) then value of BTC = unknown but orders of magnitude higher than its current valuation (12k approx.).
Review the Bitcoin Historical Chart (2015-2019) -What pattern do you see?
To date, BTC has rewarded buyers and holders.
The Downside
b) BTC fails to gain traction or is superseded (much further into the future) -value falls to negligible level (sub $1000).
Effectively a binary outcome.
BTC will either become a recognized store of value and attract a piece of the global financial pie, its scarcity guaranteeing exponential return on investment or it won’t and will wither to naught.
All your capital is at risk.
The whole lot.
So, don’t bet the farm but do invest a small amount of disposable income in an asset that holds the promise of substantial returns (once you feel you understand it at some level).
Critically – XYZ cryptos are not in the same position. Without exception, they are still in the proof of concept phase. It’s all promise…Even Ethereum and EOS have yet to attract substantial numbers of active users to their deployed applications.
In addition, many crypto projects will succeed and yet accrue little value to the token.
Many, many more will fail. A select few will forge ahead and also accrue substantial value but picking these winners as a new investor is largely unnecessary – the champ is right here – right now – Bitcoin.
And…..should BTC itself fail – the door slams shut on a great number of these endeavours -their very existence hinges on Bitcoin.
The relationship is not reciprocal – each and every Alt can fail without affecting the store of value proposition of BTC.
So, if you have still to take that first step – do yourself a favour and ignore the punters bleating of the great riches to be found with XYZ and invest in the crypto most likely to deliver – Bitcoin.
Lastly -invest -means a multi-year horizon – even better a multi-cycle horizon 10 years or more. Sure, with time and experience you may finesse your interaction with the crypto market but start simple and go from there.
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 – risk high is not a concept – there is a high percentage chance of you losing everything you invest.
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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ADA seen from the temporality of 4H we can observe the formation of a bearish flag that should end up making the break down and continue with the bearish trend, however, the price is in the process of claiming the 1D support, if it makes a correct test and we have confirmation with a bull candlestick we could see a reversal of trend and see the price rise towards the supply zone that I have drawn in the chart inside a blue rectangle located in the price range of 0.08840 – 0.08940, in the image I have also drawn the two possible trajectories that could follow the price within this setup depending on the movement of BTC in the next hours, in case of a correction we could see ADA test the support of the channel by making a pullback below 0.07961 and not to get 1D support again the price could fall to the zone of demand in 1W located at 0.06601.
ADA seen from the temporality of 1D we can observe from a broader perspective the current structure of the candles in the major figure, after the price broke down the blue diagonal was made a pullback confirmation making the price fall strongly towards the area where it is currently, in the chart above I have placed the important levels to take into account during the movement.
In conclusion, in the short term we have a setup of continuation of the bearish movement that should conclude in the zone of demand in 1W, in case that BTC continues rising it is very possible that the pattern will be invalidated and we will see an upward movement towards our objective pointed out above in the graph of 4H, I recommend to be attentive to what BTC does in the next hours and to contrast it with the price of ADA to avoid falling in the traps.
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.
Just a couple of days ago I was writing a post about an interesting pattern in formation. It was an Inverted Head and Shoulder pattern and I told it has the potential to allow a continuation trend upwards with a target of 14500 USD.
The following was the pattern I was talking about:
And what we can see right now is that after breaking the neckline at 11760 USD the volume is increasing consistently:
Those two higher bars at the volume of the 4 Hour chart may indicate an acceleration of the price action and so it is what is exactly occurring. A good example of one of the most succeed patterns in TA, in this case it is acting as a continuation pattern on a Bullish Scenario.
The target of this pattern points right now towards a new High of the year around 14500 USD, will see how close BITCOIN will be from that level in some hours from now.
As usual, pay attention to the chart and anticipate the move in order to get the most from it.
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.
Bitcoin jumped today from $11,350 to our known resistance at $12,000.
Zooming out on the weekly chart, we can see price is trading above the last 3 weekly candle’s close. Bitcoin has been defiant of the bearish reversal candle we saw 2 weeks ago.
As most of you know, I believe the bottom is in and bitcoin is now in a bull market. Could I be proven wrong? Of course…and I’ll be the first to admit it if I am.
In today’s video we discuss the case for the bear market continuing and lay out why I think it’s over. I also answer your questions on how I learned to trade, discuss where price my be heading next and so much more. 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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Ripple’s mission is to provide bank solutions allowing for faster payment settlement and lower foreign exchange fees. So they created the digital currency / ledger XRP.
XRP has gotten a bad rap over the years by the hardcore crypto maniacs out there because they claim XRP isn’t decentralized because of the Big Banks’ compliance requirements and members on their board who once held government position. Who cares whether they are decentralized or centralized, it’s about are they adding value to the Crypto space and recently, they are making money moves.
For instance, Xpring, the Ripple incubator, and investment arm revealed in a blog post on July 2, 2019, that it had invested $500 million in over 20 startups that are using the XRP protocol to grow the Ripple community.
In the same vein, Ripple on June 17, 2019, announced it has entered a strategic partnership with MoneyGram, one of the largest money transfer companies in the world.
It’s also worthy to note that the Federal Bank of India revealed in March 2019 that it has collaborated with Ripple in a bid to enable financial institutions to send cross border payments more securely.
The cryptocurrency community, on the other hand, are banking on developments of this nature to push the price of XRP above its all-time high of $3.15.
Many crypto analysts have predicted that the virtual asset may take charge and trade as high as $7 in the coming months.
If investments into worthwhile projects within the XRP ecosystem continue, investors in XRP/Ripple will be handsomely rewarded in the long term. The chart suggests the next levels to monitor are the daily demand zones near $0.25 and the daily supply at $82.
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.
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!”
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.
Perhaps you saw on yesterday when I posted on Twitter:
It was always the idea to blog about Bitcoin today, but Bitcoin was too fast for me:
While that movement has already begun, I’m going to write about it anyway, I guess I’ll just have to type faster than usual…
I am expecting moves in the $1000 (or greater) region by tomorrow.
BTC has been in a (somewhat messy) bullish converging triangle for roughly the last 10 days. The dominant BTC movement at the moment is a rise, and so this “sideways phase” is probably coming to an end.
Thanks to an “over-hyped” phase, followed by an “over-corrected” phase, this triangle is somewhat difficult to spot – fortunately you have me to spot it for you.
The rest is rather simple, as I said earlier, I expect a large price movement. This is to be expected after a period of sideways movement – especially when a converging triangle is in play.
I believe this will either be in the form of a direct price rise, or as a dip down to $10500, followed by a large price rise. The upwards break out of the triangle is an argument in favour of the former scenario: it’s a bullish breakout which will probably run to $12850 and possibly beyond that. The median price line (which is over three months old) is at $12850, so that would be a good place to stop, but momentum may carry it through to the next diagonal Fib at $13700 – or even higher if “over-hype” kicks in again.
The other scenario is that BTC first dips to support and then climbs. That support is the bottom of the diagonal Fib levels – the 0.0 Level – and is defined by the 10 June dip as well as by the over-correction dip of a week ago (which you may recall me calling exactly right – based on these same Fib levels). In support of another dip is the fact that volume has been decreasing over the last five days, though I don’t consider this to be as important as it would appear. I assess that volume also became “over-hyped” at the time of the $13800 price spike in late June and has taken a while to normalise after that. Volume also continues to far exceed the levels of the 2017 bull run, so I think a dip is the more unlikely scenario.
If BTC does dip then the support should catch it at about $10500 before slingshotting it back up towards $12850 and beyond.
I allocate the following probabilities to future scenarios:
BTC rises to $12850 and above directly – 45%
BTC dips to $10500 and then rises – 30%
BTC continues sideways – 10%
Something else – 15%
That’s all for now, let be hit the “Publish” button before everything changes or becomes outdated!
Yours in crypto Bit Brain
Tweets from https://twitter.com/brain_bit Charts made by Bit Brain with TradingView
“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”
In Elliott Wave terms, GXS began a wave one advance on May 30. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 10, and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, GXS should be heading next towards the June 10 peak in the red wave three.
GXChain is a fundamental blockchain for the global data economy, designed to build a trusted data internet of value. You can view their intro video below.
