Overhead Caution On Nvidia

The bullish investing thesis on Nvidia (NASDAQ:NVDA), the current leader in GPUs, is pretty clear. GPUs work better than CPUs for artificial intelligence applications and as a result, the chip maker — and NVDA stock — seem well positioned in a market with what is essentially huge growth potential.

Due to its exposure to AI, NVDA stock will benefit from numerous secular growth trends in autonomous driving, big data, medical diagnostics, and more that could help lift sales and profits rise over time.

To keep its leading market share and meet bullish expectations, Nvidia will need to innovate and make better products than anyone else. Due to the uncertainty of how those products will be received, Nvidia stock has been subject to sentiment shifts. As a result of the shifts, the NVDA stock price has fallen from its late 2018 highs but is still up 23% year to date. Given the rally in 2019, is the stock a good buy now?

Source

There has been a lot of chatter on Wall Street that the semiconductors have bottomed. For example, Taiwan Semiconductor Manufacturing Company (TSM), is the world’s largest manufacturer of semiconductors, recently beat analyst estimates and signaled a rebound from the current chip down cycle.

If price is going to get to $200, it must get through this band of support / resistance.

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.

Bitcoin – possible next moves

 

Bitcoin continues to tread water – with gradual negative changes to its buoyancy

Here is what I think may be happening now, and what may happen next.

As BTC is clearly no longer rising in price, I have abandoned my bullish channel diagonal Fib levels and have replaced them with downwards sloping diagonal Fib retracement levels.

 

Viewed in the medium-term, the new levels look like this:

 

Seeing the above chart, my immediate thought was that BTC may be forming a bull flag. If it is a bull flag, then the most likely next move would be for BTC to break upwards out of the flag and to continue rising on the previous trajectory. This is not to say that BTC will not dip further before that happens.

 

My confidence factor wrt the bull flag scenario is not extremely high, it’s more a possibility than a probability. I place a likelihood of 40% on it being a bull flag. Because of this I would be cautious in trading it as a traditional bull flag – not that I trade BTC anyway, because I’m a hodler by nature.

Bull flag or not, BTC is dipping at the moment. While the drop in price may be arrested sooner, the new diagonal Fib levels indicate a possible bottom at around $8800. Remember that the Fib levels are sloping downwards, so if BTC dips later than expected, or if it dips again after that, then $8800 will no longer be the bottom of the dip. If BTC were to dip again in August, it would only find support in the $8500 – $8000 region.

 

Another thing I can’t help noticing is the similarity between this price movement, and that of various BTC price movements in 2017. Here is what BTC looks like now:

 

And here are similar BTC patterns from 2017:

 

…and similar patterns from earlier times too.

 

The important take away message from this is that this pattern is invariably seen during bull markets and usually precedes a price climb – before it reoccurs.

Summary:

I can’t tell what BTC will do next, but I am expecting a dip. After the dip there may well be another dip, or even multiple dips before BTC climbs again. It looks as if BTC will resumes its climb after the upcoming dips.

I think we are seeing a consolidation period, a time when weak hands are selling their 2019 gains and stronger hands are replacing the weak ones every time the price dips. Once this transfer process has completed, strong hands should dominate and the climb should resume.

I still think that 2019 bullishness kicked in too soon. The 2018 bear market is still fresh in the memories (and on the charts) of most investors: a reminder to be cautious. This is causing the price rise to be a case of “two steps forward, one step back” which is probably a healthier way to climb than an all out run to new highs. Consolidation makes a climb more sustainable, less volatile and less likely to lead to a big crash at the end of the climb – so it’s a good thing for investors.

Even though I am out of spending money, if BTC dips into the $8000s, I will consider using some of my fiat savings to buy more. This reasons for this are twofold:

  1. BTC has become more legitimate than I expected, sooner than I expected. It features prominently in mainsteam media and is often commented on by world leaders. Whether the press is in favour of it or against it, the exposure is good for BTC and the man in the street is starting to view it as a real contender/threat to fiat money.
  2. My faith in fiat diminishes by the day. Unfortunately, the majority of my saving are still in fiat. I am actively seeking good stores-of-value to place some of my fiat savings into. Crypto is risky, so one must be very careful about shifting money into crypto, but if I am going to be taking money out of fiat, then I might as well put a little more of that money into crypto. The rest will probably go into precious metals, I’m still busy deciding and watching the markets closely.
 
 

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:





🗞 Daily Crypto News, July, 23rd💰

  • Tron Founder Justin Sun Postpones Lunch With Warren Buffet ;
  • German Regulators Approve $280 Million Ethereum Token Sale ;
  • Bakkt Is Scheduled to Start Testing Its Bitcoin Futures Contracts Today ;
  • 🔫 DrugWars Last Update’s Guide ! 🔫 ;
  • Bitfinex and Tether Double Down on Claim of No Customers in New York ;
  • 📑 Daily Crypto Calendar, July, 23rd💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Tron Founder Justin Sun Postpones Lunch With Warren Buffet

Justin Sun’s hotly-anticipated lunch with billionaire investor Warren Buffett has been postponed, the Tron Foundation announced Monday.


Sun has fallen ill with kidney stones, the foundation said on Twitter. The parties have “agreed to reschedule at a later date.”
The lunch, scheduled for July 25, was the prize for winning a charity auction. Sun bid $4.6 million earlier this year and seemingly intended to introduce the notoriously crypto-skeptical Buffett to a number of influential figures in the space.

🗞 German Regulators Approve $280 Million Ethereum Token Sale

Fundament, a blockchain startup coming out of stealth mode, has received the green light to issue the first tokenized real-estate backed bond that can be widely offered to individual investors.


Announced Tuesday, the Berlin-based firm has obtained approval from Germany’s financial regulator, BaFIN, for the 250 million euro ($280 million) offering. By virtue of being regulated, the token will be open to any retail investor anywhere with no minimum investment restriction. 


In other words, someone in, say, Indonesia will be able to buy 100 euros worth of ethereum tokens and thereby indirectly invest in German commercial property.


A BaFin representative told Coindesk:
“We can confirm that we granted approval for a Fundament Group prospectus. It has indeed been the first time we have approved a prospectus regarding blockchain-based real estate bonds, but not the first time in respect to blockchain technology as such.”

🗞 Bakkt Is Scheduled to Start Testing Its Bitcoin Futures Contracts Today

Bitcoin futures platform Bakkt is scheduled to begin testing its new contracts Monday.


Nearly a year since revealing its ambitious vision, Intercontinental Exchange (ICE) is still waiting on regulatory approvals to take the platform live. Still, despite having to delay its new market multiple times, the parent of the New York Stock Exchange is moving forward with plans to offer potentially the first physically-settled bitcoin futures in the U.S.


Bakkt announced in May that it would begin testing its bitcoin futures contracts in July, later firming up a July 22 test date.


It will apparently be testing two different types of contracts Monday: a daily and a monthly contract. Bakkt aims to list the futures, which would be traded through ICE Futures U.S. and cleared through ICE Clear U.S., the parent company’s clearinghouse.

🗞 🔫 DrugWars Last Update’s Guide ! 🔫

As most Drugwars players are aware, there has been a few updates to the game, I will try to guide you through them in this post, if you have any question, feel free to comment and I will do my best to answer your questions.

Map and Base system

With this new update, we understood that we will be playing from now on on a DW “World Map”.

map2.jpg

Once you decided to settle in a territory, you could access this view where you can see other people’s bases. Gang name has been added when you click on a specific base

More information Following this link to my post: https://steemit.com/drugwars/@vlemon/drugwarslastupdatesguide-j6mkcqgp5z

🗞 Bitfinex and Tether Double Down on Claim of No Customers in New York

Lawyers for Bitfinex and Tether, in the course of an ongoing case against the New York Attorney General (NYAG), submitted multiple fillings on July 22 alleging that the companies never served customers within New York. 


In one filing, attorney Stuart Hoegner noted the provision in Bitfinex’s terms of service that require that customers that transact be foreign entities:


“Under Bitfinex’s and Tether’s Terms of Service, Eligible Contract Participants (“ECPs”) that transact with Bitfinex or Tether must be foreign entities. Although those foreign entities may have shareholders or personnel who reside in, or otherwise have contact with, the United States or New York, Bitfinex’s and Tether’s customers are the foreign entities themselves … Bitfinex and Tether do not transact with any New York ECPs.”

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📑 Daily Crypto Calendar, July, 23rd💰

Mining Disrupt Conference at DoubleTree Hilton Hotel in Miami from July 23-24.

ZEN 2.0.18 deprecation is at block #555555, which will occur around the 23rd of July.

Doge Token (DOGET) will be listed on TXBIT.io on July 23rd (Tuesday).

“Matthew Finestone will talk about DeFi, DEX and will present Loopring,” at Crypto in Montreal from 5:15 – 7:15 PM.

“Join us on July 23rd at 2PM UTC for an AMA with LTO network , CEO Rick Schmitz and Tech lead Arnold Daniels in the Trust Wallet Telegram.”

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STEEM Trading Update by my friend @cryptopassion

Here is the current chart :

STEEMUSD.jpg

The STEEM is in waiting mode since days, just sitting little upper than the support line at 0.24$. We are waiting a decision about the next BTC direction and that support line in red won’t hold us for sure if we have a correction on the BTC. So yeah I’m afraid that we are not yet on the low on the STEEM… let’s see, we should see the next move on the BTC in the coming hours.

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Last Updates

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Play on a STEEM CryptoGaming website !

Join this new Free To Play on the STEEM Platform !

Crypto Contest July 23: Revain

Revain (HitBTC: RBTC) 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, Revain began a wave one advance on June 26. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 2, and the red wave two (blue sub-waves a-b-c) correction ended on July 21. If this wave count is correct, Revain should be heading next towards the July 2 peak in the red wave three.

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

Funnymentals

Revain is a review platform built with blockchain technology. You can watch their intro video below.

(Sources: Revain and YouTube)

How can I vote? Where is the contest?

You can vote by following this link.

Halliburton Is Setting Up For A Short

Halliburton issued their second-quarter earnings report today.  The beat the expectations on earnings, but was short expectations on sales.

“International revenue increased 6% sequentially, confirming our expectation of high single-digit international growth for all of 2019. Momentum is building internationally and activity improvement should continue into 2020,” said eff Miller, Chairman, President and CEO. “Both of our divisions made meaningful contributions to growing North America revenue and margins in the second quarter. We are successfully executing our strategy of controlling what we can control and managing our business to perform well in any market conditions.”

Source

That was enough for the stock to receive a couple of upgrades.  Citigroup’s Scott Gruber reiterated a Buy rating and $33 price target and Stephens analyst Tommy Moll reiterated an Overweight rating and $45 price target on the stock, highlighting Halliburton’s ability to deliver “higher margins in North America despite macro headwinds.”

But here’s the problem, the Energy Select Sector SPDR ETF (XLE) is lagging the S&P 500,

and Halliburton is lagging the XLE

Although oil has risen since January lows, it’s still below $60.  Thus, there isn’t a lot of incentive for the producers to produce because they are marginally making a profit, so don’t have a lot of need for the service companies such as Halliburton.

Thus, despite the upgrades, the chart suggest to short Halliburton at the weekly supply at $25.25

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.

Are You Still Buying The Equity Bull Market???

The Dow Jones Industrial
Average, S&P 500 and Nasdaq Composite keep making new all-time highs.  So do you still believe in this Bull
Market???  If you do, well…you should because
we still are making higher highs vs. lower lows. But I want to give you some
food for thought to be careful.

Consumer discretionary to technology, cyclical stocks that typically associated with bull markets while in down turns or bear markets, consumer staples typically outperform.  However, both consumer discretionary and consumer staples sector are at all time highs…TOGETHER…HOW CAN THIS BE???

Consumer Discretionary Select Sector SPDR (ETF), XLY

Consumer Staples Select Sector SPDR (ETF) , XLP

With the US equity markets, consumer staples and consumer discretionary all all-time highs, something has to give because based on intermarket correlations, this doesn’t make any sense. This is when one has to dig a bit deeper.

 The consumer discretionary sector has consistently lagged the consumer staples sector ever since last year.

Source

For the bull market to continue to run, the discretionary sector must eventually outrun the staples or at some point we will see the equity markets start making lower highs, then lower lows.

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.

STEEM: a clear Double Bottom Pattern…

….and it would indicate something good for the price if STEEM wouldn’t have so much selling pressure from the wales and from @steemit in particular.

A double Bottom pattern is a Bullish Pattern that usually describes a change in trend and a momentum reversal from prior leading price action. It is normally accompanied for a divergence in some of the technical indicators and this is what we see at RSI indicator on the daily chart:

RSI Indicator:


MACD Indicator:

… as I said, if it was any other ALTCOIN I would not have any doubt to claim BULLISH Action on it but we are talking about STEEM which is being really controlled from those that state that STEEM is a decentralized blockchain….

Will see what happens next…in the meantime, I would try to accumulate as much as possible.


@toofasteddie

Can Bulls Prevent a Knockout? Analyzing Bitcoin, LTC, ETH & Answering Your Questions

Bulls are still defending $10,000, but bears are attempting to land a knockout punch. Price dropped from $10,500 to $10,150 in less than 20 mins. Just another day in the crypto market.

Screen Shot 2019-07-22 at 11.07.18 AM.png

In today’s video I’ll analyze Bitcoin, Litecoin and Ethereum. We’ll discuss the 4 hour death cross, where prices may be heading next, traps to avoid 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/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

If you found this post informative, please:

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Cryptocurrency Relative Strength Analysis Report For Week Starting 7/22/19

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:

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.

Intermarket Relative Strength Analysis Report For The Week Starting 7/22/19

Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.

The US economy is still the largest in the world and the US dollar is still the most powerful currency in the world.  Over half of all foreign currency reserves in the world are in US dollars.  Thus, the asset classes relative strength will be compared to the US Dollar.

Bitcoin

30 Yr Bond

Copper

Euro Dollar

Gold

Oil

Soybeans

S&P 500

Based on the moving averages and the last daily closing price, relative to the moving averages,

the asset classes’ relative strength, relative to the US Dollar are the following:

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.

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