Does something count as a rally if it doesn’t breakout above it’s nearest resistance level?
The Alt Rally That Wasn’t?
So after BTC ripped we did see a small alt rally, especially in the larger cap coins like ETH, LTC, EOS and even XRP.
All of these coins pushed higher out of the ranges they had been stuck in. Unfortunately STEEM did not do the same.
Looking at the chart in the post you can see we saw a little price rally for a few days that tested the 40 cents resistance area only to get smacked down.
Disappointing indeed, but atleast it made a
It’s been a while since my last post. Unfortunately I had to play nurse to an injured wife, but she’s back on her feet now and I can finally get back to my crypto blogging! Luckily I was able to keep an eye on the markets, so I still know what’s going on. I even managed to squeeze a few Tweets in here and there.
This is my THIRD attempt at this post, I lost two drafts trying to use a new blogging interface, hopefully this time I am successful! Bear in mind that at some stage I will probably have
After getting what was an expected pullback and seeing price briefly spike down to the 6800 area support BTC has rallied to test the recent high.
A Big Green Candle – One and Done?
The daily candle that just closed an hour ago was a big one as buyers swooped in and pushed prices back higher. Volume wasn’t as high as the up days from early in the week, but it was still above average.
Whether this bounce has legs is to be seen but we know what the first upside hurdle is that is for sure.
Looking at the chart in this post
The bulls have stepped up, pushing bitcoin from $6,600 to $8,150 over the last 48 hours. Currently it’s trading around $8,000.
In today’s video I analyze Bitcoin, EOS, BNB, BAT, ETH, LTC and XRP. I 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.
If you are trading crypto right now, then let me introduce you to dragonoption.io. This is a binary option platform that allows you to buy EOS contracts on the underlying price of BTC, LTC, ETH, EOS, and XRP. These contracts range from 2 minutes to 10 minutes and pay out up to 70%! This is a must for traders in crypto.
Sometimes the best thing to do for perspective and clarity is to take a 10,000 foot view. That is exactly what we are going to do now by looking at the daily chart of total cryptocurrency market capitalization.
Market Capitalization
If you are not sure what market cap is – it is actually rather easy. It is simply to total value of all cryptocurrency assets that are tracked.
So of the coins represent a large majority of the market cap, such as Bitcoin, while others are little blips on the map, similar to what a penny stock would be on stock market.
What is
Yesterday I said a drop below $7,550 would be your sell signal. I’ve told you my first buy order was waiting at $6,750. Today price dropped 21%, reaching as low as $6,600 on Coinbase. It then rallied as high as $7,400 before settling down. Currently bitcoin is trading around $7,100. If you did buy the dip, I’d raise your stop-loss and protect your profit.
Looking at the daily chart, we can see price found support right on top of the 21 day EMA. If price decisively breaks below (daily candle opening and closing), it could signal a much deeper correction to
The EOS software infrastructure and its related parameters and functionalities are complex and even more complicated for a new user.
It took me ages before I could finally take the leap to adopt the blockchain.
As much as I understand the purpose why a user needs to purchase a wallet account before accessing the core functions and uses of the system – as a preventive measure to curb spamming activities.
I found myself earlier failing to get one at every attempt I made to at least try out a single one.
Concepts like CPU, NET and RAM were already getting me confused to begin with, then I discovered I had to buy and stake some of these resources (I was finally chased away).
I asked myself; why do I need to venture into all this when I can just send and receive coins right in my Ethereum address.
Gradually, I find the whole EOS concepts as unfriendly and convinced myself the blockchain would be difficult to be adopted by any new user.
Maybe am right on this to a degree, maybe am not, I am still yet to justify that, but in the past 6 six months after finally getting a EOS username account through a free means, I found myself loving so much a system I criticized in the past.
Regarding my low adoption assumption – EOS is now the #1 blockchain in terms of daily activities and usage as reported by blocktivity.info and is a very close competitor to STEEM when we talk of the adoption rate.
Despite this truce and loving and favoritism, EOS still pronounce itself as a complicated structure to deal with by its extensive features.
One feature I would like to discuss in this post which is not so unique to EOS alone but is also seen with other DPoS blockchains or in short ‘Dan Larimer’s masterminded blockchains‘ is the disparity between Active Key and Owner Key.
In a simple description, both keys can be regarded as the private keys of a wallet.
That is, they can both send, sign, authenticate and permit transactions.
Both perform higher functions of a wallet like voting for BP and permit permissions.
Initially, when the EOSIO blockchain set off specifically during the genesis snapshot both keys were merged as a single unit carrying equal weight and functions. Every account created at that period were provided with a single private key which can be regarded now as the owner key as it was needed to later create other keys.
Further, as development continued, account creation provides users with a separate owner and active keys.
How They Are Differentiated
One major striking difference between these two keys is that; the owner key represents the ownership of an account. It is the most important and powerful key. The owner key can overwrite itself and all other keys. Whereas, the active key is permission-granted-key which can perform all higher functions of an account except that it can be changed, destroy and overwrite. It is not a claim of ownership to an account.
In real-life assumptions, the owner key can be compared to a master key of an entire house which is able to open all rooms. In the other light, the active key can be regarded as room(s) specific key.
In another comparison – the owner key can be likened to the president of a society or the highest authority of a constituency while the active key can be represented as the vice of a president or a representative of an important figure.
Later after the Genesis account batches. Users were advice to enable their active key permission for good security reasons.
Which can be carried out by importing the owner key to a wallet that supports this procedure and then enabling the active key permission.
The greymass desktop wallet does this perfectly. This post by @stellabelle of pixEOS explain how to do this on a desktop with greymass.
This simple GIF illustrated how I carry out this process on mobile using TokenPocket.
Note – TP = TokenPocket, P = Private. The last part was trying to show how permission to change all key was restricted using Active Key only
You just spare two minutes to save yourself from potential future worries.
Having two powerful keys with different level of authority to your wallet gives you an extra layer of protection which you should put into practical use.
Therefore, it is advisable to up your game and keeps these two keys with different security approach.
Best Security Approach To The Two Keys.
Without making this post longer than it is.
The owner key is advised to be kept in a cold storage like a hardware wallet, paper wallet and other cold storage means.
The active key can simply be kept in a password protected text file on a desktop or mobile device for convenience and easy access. But it should be noted that sending and signing transactions can be conducted with the active key, which implies keeping the key protected as much as possible.
Which security approach do you adopt to keep both your owner and active key safe? I would like to know in the comment box below.
Cryptopilots is a blockchain agnostic content creation community that focuses on helping quality content creators getting the attention they deserve. We also run a proxy, as well as consultant services .
After a failed second attempt to break above, Bitcoin remains below the $8,450 resistance. Daily volume is currently hitting another all time high, just above $34 billion.
Short positions have dropped nearly 41% inside of 1 min. In other words, 1 person liquidated a ton of shorts. Strangely enough, it happened on an insignificant candle, and barely effected price at the time of execution.
In today’s analysis I discuss what a drop in shorts might mean to the market, key areas to watch, where my buy orders are waiting and so much more. I hope you find it helpful.
Cryptocurrency is ripping higher today, likely due to the fact there are more buyers and sellers as price breaks through overhead resistance. I am sure Binance deposits being open again will be the media tale, but that is all it is, just a tale.
we have been on this move for months upon months and are still hammering hard. Accumulating from late 2018 to mid March 2019 has proven to be the right move. Resistance levels are being shattered and shorted are getting squeezed. It is good to see the media stay away and I am sure they will be
