Chainlink And The “Coinbase Effect”

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.

BTC – 02 June

 

I’m not going to write you a BTC post today, I’ve already written everything that I wanted to.

I’m just going to re-show you things in case you missed them.

This post is a loosely related to my Bitcoin post (“Let’s talk BTC”) from last Friday.

But what this post is closely related to is my Twitter feed. A note to the new and a reminder to the old: I don’t blog about everything, especially short-term price movements in crypto, metals, stock market indices etc. – but I often mention them on Twitter. I therefore advise you to follow me at: https://twitter.com/brain_bit, you know; that link at the bottom of my blog posts which you always ignore ?

No I’m kidding, I’m sure you remembered to follow ol’ Bit Brain, in which case I’m sure you’ve seen all of this before:

You saw on the weekend when I spoke about the possibility of a drop to about $10k:

 

You saw the BTC/Gold correlation (for those who still need proof that BTC is becoming a very important Store-of-Value):

 

You saw yesterday when I used diagonal Fib levels (which I still don’t see ANY other analysts using) to predict the next bottom at $9700 (today).

 

You saw how this also ties in with the last BTC market cycle (whether or not that will later prove to be relevant).

 

You saw BTC turn exactly where I predicted this morning:

 

Let’s just take another zoomed-in look at that candle wick, my Fib levels, my long-term trendline and my prediction arrow:

 

Seen better lately?

Mini-Discussion:

Ignore my narcissistic personality, that’s just Bit Brain being Bit Brain. The POINT is, I do give information on Twitter which may sometimes prove to be useful.

As mentioned in the last Tweet, I do think that BTC may have finished dropping for now, but it will take a break North of $11100 (above the 0.236 diagonal Fib) to confirm that. Being diagonal Fib levels, that figure increases daily. if I am wrong and BTC does drop below $9700, then the next support lies at $9000. Failing that, the mid-$7000s are on the cards.

A bullish Q2 to 2019 has introduced a large number of new weak hands to the market. This period of flux is caused by the weak hands shaking out while the more experienced and intelligent money buys up the BTC that the weak hands dump. It’s all part of the cycle and I welcome it. The more small dips we have, the stronger BTC can climb and the longer the bulls can run without crashing.

 

Yours in crypto

Bit Brain

All Tweets from https://twitter.com/brain_bit
All 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” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Crypto Contest July 2: Standard Tokenization Protocol

Standard Tokenization Protocol (Bittrex: STPTBTC) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, STPT began a wave one advance on June 15. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 28, and the red wave two (blue sub-waves a-b-c) correction could have ended today. If this wave count is correct, STPT should be heading next towards the June 28 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Standard Tokenization Protocol is an open-source standard defining how tokenized assets are issued and transferred while complying with all necessary regulations. BlockchainBrad interviewed the CEO back in May this year.

(Sources: Standard Tokenization Protocol and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

LTC technical analysis

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

Bitcoin at New Local Lows! Where to Now?

The weekly chart closed yesterday with a nasty reversal candle. Today, as expected, we’re seeing follow through.

Screen Shot 2019-07-01 at 12.37.13 PM.png

Bitcoin has now broken below the 0.5 fib. It’s tested $10K, with a nice bounce. If you scaled that, congrats! It does look like bitcoin will make a second attempt to break $10,000. If $10,000 does break, price may quickly fall to $9,400.

Screen Shot 2019-07-01 at 12.36.10 PM.png

In today’s video I discuss where price may be heading next, key areas to watch, possible targets and so much more. I’ll also answer your questions near the end. 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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BITCOIN: Every drop is an opportunity

Is the Bull market finished yet? do you think it will go further lower?

It may be go lower but personally I am sure we are in the initiation of the Bull market.

This correction was expected since long already and it is part of the accumulation process. We also have seen the Market reaching 400 Billion recently so we know the potential is there… remember that at the ATH on January 2018 we double that amount…

I am observing carefully the lower line on below chart:

It is, in my opinion, a consistent support (9400 USD) on which rebound can happens but also I think that any level below 10K will be a good entry point.

If the Market is bullish this is the way to sail the waves, however, always do your own assessment and get your own conclusions.

Enjoy!

@toofasteddie

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.

Litecoin Pauses Before The Next Leg Higher

Litecoin has begun trending on the upside trend, signaling a major bull run after finding a strong support above $125 price. Hence, LTC price is likely to break above the $135 resistance. Lately, Litecoin saw a sharp rise in the market, accelerating above Bitcoin, Ethereum, Ripple XRP to become stable against the US Dollar. After finding a crucial support above $125 price, LTC/USD trade pair has recently bounced back on the upside, rising above $130 price. LTC/USD trading pair is accelerating high in the market even above Bitcoin, Ethereum, Ripple XRP. Litecoin, as at press time, has tested the $131.40 level and it is currently moving high in the market.After trading low around $129 level, the altcoin recently climbed above $131 resistance level with 12% added value in the last 24 hours, and it is moving close to $135 as it continues to trend high in the market.

Source

The buyers have taken out the sellers at the daily supply at $137, with additional buyers for back up at the $115 level.

Because momentum is still to the upside and because of the upcoming halving (on August 6, just 73 days away the block mining reward halves every 840,000 blocks, and this one will see it decrease from 25 to 12.5 coins), look for price to move to the next level of major sellers at daily supply at $187.

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.

Index to Crypto with Bit Brain – Edition 2019/4

 

These Index posts always seem to build up content without me noticing it, I turn around and “BOOM!”, somehow I’m a month behind with them again! Let’s try to rectify that shall we?

As usual, I’ll start with the links to the previous “Index” posts. Bookmarking this post will therefore give you access to all of the very best posts which I have ever written!

Previous Index posts:

Index to Crypto with Bit Brain – Edition 2019/3 is the most recent Index, it was published on 10 May. It contains advice on how formally or informally to style your crypto business, precious metals information, how to buy high priced cryptos and still score, some very serious discussions about Private Blockchains and also about how you think you’re ready for decentralisation – but aren’t. Of course there is a lot more too.

Index to Crypto with Bit Brain – Edition 2019/2 was published in early April. In it you will find some posts about what I have been buying in 2019, the long overdue Part 3 of my “Diversification” series, some alternative exchanges worth looking at (rather important with Binance only semi-usable at the moment), a post about how to keep your crypto life anonymous and several other posts which have already proven to be prophetic.

Index to Crypto with Bit Brain – Edition 2019/1 contains links to some fantastic posts such as the series “No Kevin, Bitcoin will NOT bite the dust” where I debunk an argument against Bitcoin, I showed how I called the end of the bear in January and I revisited the old topic of Bitcoin ETFs. The three part (with an unofficial fourth part) series “Ripple – we need to talk” tells Ripple investors all the information that they really need to know about their pseudo-crypto. You can also find a pretty good article about ICOs and the BitTorrent Token rolled into one – probably a good read for any prospective BTT or ICO investors.

Index to crypto with Bit Brain – Edition VII – 2018 is the annual index which contains links to all of my other indices. In this Index you will also find some of my finest posts of late 2018 such as musings about DEXs, the vital Crypto Laws of Bit Brain – a must for any investor, you’ll see how to keep your crypto correspondence private, there are posts about great crypto projects like CargoX, Binance, THEKEY and UTrust and I talk about the dreaded Capitulation.

 

 

As usual I’m leaving out most of the price related and similar posts, they have little historical value and are not worth indexing; what’s left is the good stuff – and boy have we had some good Bit Brain posts lately!

Index to the latest posts:

Trustworthy Crypto Information Many exchanges lie about their trading volume. Wash trading is rampant. I often see estimates which state that 80-90% of crypto trading is wash trading. CoinGecko is doing something about it with its “Trust Score”. They are my favourite coin tracking site for this and many other reasons. Read this post, or see for yourself at https://www.coingecko.com/en

A Stable of Binance Coins – General musings Binance’s own Stablecoins: What are they? What do they mean for crypto?

The Future of Privacy Coins What do you know about Privacy Coins? What do you know about the FUTURE of Privacy Coins? This is important information for the wise crypto investor…

Crypto East vs West This is why you follow me – this is the kind of holistic, global, crypto, politics, warfare, futurist economic outlook that you simply can’t get anywhere else! This, ladies and gentlemen, is what Bit Brain does best.

Altcoin Buying Masterplan (it’s working…) I don’t tell you the names of coins to buy, I tell you the TYPES of coins to buy. Better than any altcoin investing advice you’ll find elsewhere!

Crypto Top 20 – in one paragraph apiece Just what the heading suggests – Bit Brain’s take on the crypto names you hear the most: The Good, the Bad and the Ripple. (I’m hilarious.)

Lets talk about: Facebook’s “Libra” Bookmark it; you’re going to need to refer back to it! Probably the best perspective of Libra that you’ll ever read.

Precious Metal Run Metals move a lot slower than crypto does. For that reason this TA based post gets a place in the Index. Still very relevant.

NEO news I don’t speak about NEO enough. People are still ignoring what is simply the best crypto out there. I make a very small effort to steer them towards the correct path.

 

 

SERIES

There is normally a series or two in these posts, and this post is no exception. From a writer’s perspective series posts are probably my favourite things to write. The format allows me to expand on more than what regular blog posts do.  I put a bit of extra effort into my series posts, and I’m particularly pleased with the result of my recent efforts. If you read none of my other posts, then read these:

DECENTRALISED VICTORIES:

The decentralised world is having very meaningful victories, not just in crypto, but in the whole mentality of the Western world. There IS hope! We will see great changes within our lifetimes – these posts not only tell you why, they also point out the first major decentralising changes which are already underway.

Decentralised Victories – Part 1: Introduction and the problem of Money

Decentralised Victories – Part 2: The problem of Power

Decentralised Victories – Part 3: Recent Decentralised Victories and Conclusion

THE BITCOIN HALVING EVENT

Halving events are surrounded by speculation and opinions – no facts. Litecoin is demonstrating that at the moment. Bit Brain gives you the facts.

The Bitcoin Halving Event – Part 1 

The Bitcoin Halving Event – Part 2

 

 

That brings the first half of 2019 to a close – all neatly wrapped up in four Index posts. Take a look at some old posts, much of what I write is designed to remain relevant for years, decades even. There are some very good posts tucked away in my various Indices, and I’m not just saying that because I wrote them.

 

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” 

~ Bit Brain

Bit Brain recommends:

Crypto Exchanges:





Crypto Contest July 1: iExec RLC

iExec RLC (Binance: RLCUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, RLC began a wave one advance on December 15, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 15 this year, and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, RLC should be heading next towards the May 15 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

RLC is the native token of the iExec cloud platform. In exchange for RLC tokens, users can utilize the network to rent servers, data and applications. You can watch their latest hype video below.

(Sources: iExec RLC and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Cryptocurrency Relative Strength Analysis Report For Week Starting 6/30/19

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.