In my opinion, it is clear that there are no major news explaining clearly why the Cryptomarket is suddenly behaving so bullish.
May be the final entrance of the Financial Institutions, can be the lately announcement of Facebook and its Libra coin, which I doubt it is currently moving the strings now but for sure it is giving some FOMO out there, can be also the good news coming from Russia, see “Russian Ministry of Finance Considers Allowing Cryptocurrency Trading” or perhaps the ones coming from Bank of America’s CEO on regards or getting a “Cashless Society” or a combination
Yesterday we discussed another bullish ascending triangle bitcoin was painting, suggesting a break to the upside. Today, we watched bitcoin break out and up, almost hitting our lower target of $11,500. It has since dropped back down to test the top of the ascending triangle (about $11K) which did act as support. Daily volume remains strong at just above $22 billion.
Zooming out on the weekly chart, we can see bitcoin is hitting a major area of resistance between $11,500 and $11,700. If you watch my videos, you know we’ve been discussing this area for awhile now. It will be a
Here I am – buying yet again.
This isn’t my first buying spree of the month, I wrote about my previous round of buying in “Crypto Shopping Cart – 6 June”. Some things have changed since than, some haven’t .
Last time I went shopping I bought Holo (HOT), Ontology (ONT) and Icon (ICX). I also announced my intention to sell ETC and stock up on more CargoX (CXO). Let’s take a look at what I did this time.
A lot. I have actually been shopping three times since my last Shopping Cart blog post. The fact that I am now averaging a
The Bank for International Settlements (BIS), often described as the bank for central banks, has issued its annual report for 2019, expressing concerns over the expected disruption as big tech firms like Facebook enter the financial space.
While titled “Big tech in finance: opportunities and risks,” the report looks at the risks and challenges posed by companies such as Alibaba, Amazon, Facebook, Google and Tencent, rather than paying lip service to the potential benefits of this building fintech revolution.
These firms have developed huge customer bases, says BIS, and have the benefit of a “data-network-activities loop” which gives them ” the potential to become dominant.”
While the encroach of such companies into payments, money management, insurance and lending has only just started, it brings the potential for major change in the finance industry.
Allowing Facebook to mint its own coin, the Libra, would turn it into the greatest anti-competitive trust case in history. It would make the early 20th century Morgans or Rockefellers seem downright competitive.
Even before it unveiled its vision for a global cryptocurrency this month, Facebook was already a near-monopoly in social media, and part of a duopoly in its main markets. Together with Google, it controls 82% of the digital advertising market.
In the past, Facebook has purchased any company that threatened it, e.g. Instagram and WhatsApp. And, when it spots a company that won’t sell itself or would be difficult to purchase, it uses the “embrace, enhance and extinguish” technique.
Bitcoin’s 165 percent gain so far this quarter is the best second quarter performance on record and the highest quarterly percentage gain since the end of 2017. The stellar gains have bolstered the long-term bullish technical setup.
While the relative strength index is reporting overbought conditions, there are no signs of bullish exhaustion on the daily, 3-day or weekly charts. As a result, the outlook remains bullish with resistances lined up at $11,247 and $11,394, according to Bitstamp data.
A minor pullback to $10,000 could be seen if the price again fails to hold onto gains above $11,000, validating a more bearish setup on the 4-hour chart.
The bullish outlook would be invalidated if the price finds acceptance below $9,097 (May 30 high).
ThinkMarkets chief market analyst Naeem Aslam predicts that bitcoin (BTC) will hit somewhere between $60,000 and $100,000 during its next bull run, according to a Fox Business interview on June 24.
Aslam had previously predicted on June 17 that BTC would hit $10,000 in “a couple of weeks,” citing institutional involvement as a major driver. Bitcoin successfully reached the five figure mark on June 22, marking a record high that has not been seen in over one year.
According to Aslam, the major price points to look out for now are $20,000 and $50,000. He argues that by hitting $20,000, discussion will move from conservative estimates exceeding the number one cryptocurrency’s all-time high to forecasts of $50,000; from there, breaking $50,000 will move the price target to $100,000.
The President of Uganda, Yoweri Museveni, will officiate the 2019 AfricaBlockchain Conference, according to a report by Kabuubi Media Africa on June 24
According to the report, The 2019 Africa Blockchain Conference — not to be confused with The Blockchain Africa Conference 2019 which occurred in April — will be held from July 3 to July 4, and the theme is ’Africa 4.0: Preparing Africa for the 4th Industrial Revolution.’ The conference topics will reportedly include fintech, payment systems, and the future of education.
President Museveni reportedly supported the use of blockchain technology in Uganda during his inaugural speech. Museveni is said to have cited four economic areas that he believes should be supported by blockchain technology: agriculture, manufacturing and processing, services, and the ICT sector.
As predicted yesterday, we went touch the resistance line at around 0.43$. However, we had an immediate rejection from the market as you can see with the several red candles. So yeah this first try was no a success. We are now progressing again and trying to break back the resistance line at 0.41$. Let’s see when it will be done if we will be able to break the 0.43 resistance line with a second attempt.
Have to say, the binance (BNB) price chart is clean and orderly. It has just been a steady ascent for quite some time now without any real crazy rips or dips.
Consistently riding the moving average
Looking at the chart you can see how it continually grinds higher and then pulls back to the 10 day moving average. Sometimes it will push below it for a couple days, but often it does not. Either way it ends up pushing back above it and riding it higher.
This thing is in full uptrend mode as long as price maintains 35.50 or above.
Bitcoin continues to consolidate between $10,800 and $11,100. Daily volume is slowly rising, currently just above $21 Billion.
In today’s video I analyze Bitcoin, EOS, BNB, LTC, ETH, BAT and XRP. We’ll discuss where prices 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/workin/) 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.
ONT seen from the temporality of 1D we can observe an upward pattern that should conclude with the fifth wave reaching the price range located between 2.16 – 2.23, the bulls have been showing buying power creating this way higher and higher that will end up pushing the price above the resistance located at 1.64.
ONT seen from the temporality of 4H we can observe how the price has broken the resistance in diagonal (indicated in the graph of above in red color) doing its later throwback to test it like support, we can see also more closely the setup of
In my last update we discussed the blue sky between where bitcoin was ($10,400) and resistance at $11,500. Bitcoin continues to close in on that target, reaching a new yearly high of $11,300. Daily volume seems healthy and steady at just over $20 billion.
Looking at the weekly, chart we can see price is again stretching the upper Bollinger band. We’re well above the 8 EMA. We can also see the gap between the 8, 21 and 55 week EMA is widening. This is a very bullish sign of strength.
While we look very bullish longer term, we are long overdue for
Gold has broken up. For now the precious metal is leading the charge in futures. Usually this has not been the case in the past. The leader was always the more riskier asset of silver, or the gold miners. But, every time is different and usually will only rhyme. Gold and crypto are higher into the weekend and if this breakout is TRUE then we are in for a whirlwind of currency fluctuations.
The dollar is about to get smoked and the metals and crypto breakouts should explode. Sorry gold bugs, you will gain but the crypto wizards will gain
Just a Quick Update before I go to bed…I’m BEAT! I’ve read all your public and private messages on my various social sites. Thank you for the incredible support and love you’ve shown me. I apologize for not answering all your questions, but hope this video helps.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) 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.
