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Crypto Contest January 23: Propy

January 23, 2019 Published by

Propy (Bittrex: PROUSD) 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, Propy began a wave one advance on December 17, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 26, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on January 14. If this wave count is correct, Propy should be heading next towards the December 26, 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Propy is a global real estate marketplace with decentralized title registry. Crypto Finder interviewed the CEO

Is Steem Price About to Complete a Bottoming Pattern?

January 23, 2019 Published by

Well things may have just got interesting folks.  Last time I reviewed the price of steem it was flirting in the mid 30 cents area and all eyes were on the 40 cent level.
Cup and Handle Pattern in Play
In recent days steem has pushed through the 40 cent level into the mid 40’s.   Being able to close a green candle up here would be ideal as it establishes price above resistance.
Furthermore a cup has been formed and if we were to atleast bounce along the 40 cent area that would give us a handle.  It’s a somewhat shallow cup, but

Stanley Black & Decker, Another Housing Market Barometer

January 23, 2019 Published by

Stanley Black & Decker Inc. posted profit in the fourth quarter of $2.11 a share, beating analysts’ estimates a penny and  revenue in the quarter was $3.63 billion, topping forecasts of $3.62 billion, but the stock still fell double digits on Tuesday.  The stock still fell because of their dismal 2019 earnings forecast.

A week ago I talked about how Sherwin-Williams lost more than 6% after announcing earnings and how analysts will often look at the Sherwin-Williams as a barometer for health of the consumer and housing market.

Source

Stanley Black & Decker, Inc. the construction equipment maker that provides tools such as

BITCOIN: We need some more volume…

January 22, 2019 Published by

Finally, BITCOIN has completed the last 5th…and it has been done in a very accelerated way as I wrote yesterday. So high that it all has happened in a matter of 10 minutes. Let me show you the BTC/USD chart in the 5′ timeframe:

That is, a sudden and sharp sell reaching the Target Support (remember I wrote yesterday 3430 USD) follow by a continuous “Flow” of equivalent Buy orders (BOT?) triggering afterwards successive another more “human style” buy orders…

As a consequence, watching now the 1h-chart, the movement upwards has over-passed the previous level which indicates that BTC is probably out

Currency Analysis Report 1-22-19…Aussie Set To Go Lower

January 22, 2019 Published by

The last time I spoke about the Aussie was three weeks ago and at that time, there were no set-ups.

Currency Analysis Report 1-1-19…Aussie Sinks On China PMI Data

Source

But then the Apple forex flash crash happened.  Apple suffered its biggest single-day loss in 6 years and the stock closed the day at its lowest price level since July 2017 after cutting revenue guidance of $9 billion. 

The announcement occurred right at the beginning of the Forex trading day, the Japanese session, where there was no liquidity and where the algos put on sell programs.   As a result the price absorbed all

Crypto Contest January 22: Loopring

January 22, 2019 Published by

Loopring (Binance: LRCBTC) has broken out of the triangle pattern in the weekly chart.

(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Loopring began a wave one advance in September 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April 2018, and the red wave two (blue sub-waves a-b-c) correction ended in November 2018. If this wave count is correct, Loopring should be heading next towards the April 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
You can see the wave count even better in the line chart.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Loopring is

BITCOIN: Equal Patterns = Equal Results?

January 21, 2019 Published by

Another day of tiny volume, drafting what people is starting to call another “Bart” pattern, this time inverted.
Actually, if we want to be more rigorous with the TA and Pattern Recognition nomenclature this is what is called as Bear Flag… again…
Flags or pennants used to indicate a sudden acceleration of the price, it could be upwards or downwards but, since it is placed at then of a long candle down it is more likely that the acceleration would occur by tthe same direction, downwards…
Also, I feel it must be downwards since the EW-count still has some room to add a

Nikkei 225 Looking Bearish

January 21, 2019 Published by

The Nikkei 225 more
commonly called the Nikkei, is a stock market index for the Tokyo Stock
Exchange (TSE). Like the DOW in the US, the Nikkei is a price-weighted index, measures
the performance of 225 large, publicly-owned companies in Japan from a wide
array of industry sectors.

Nikkei is known best for
being in the longest bear market in modern history. On Dec. 29, 1989, the
Nikkei reached an all-time intraday high of 38,957. Three decades later, the
Nikkei’s value is still 47% below that mark.

And I don’t anticipate the Nikkei coming out of the bear market anytime soon because within the last 12 months, the Nikkei

Crypto Contest January 21: Steem

January 21, 2019 Published by

Steem (OpenLedger DEX: STEEM/BTS) 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, Steem began a wave one advance in December 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Steem should be heading next towards the April 2018 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Steem is a social blockchain that grows communities and makes immediate revenue streams possible for users by

Google Getting Into Wearables

January 21, 2019 Published by

The iPhone has been a
Godsend and a Devil for Apple as they know they must start to generate revenue
by other means.  In addition to Apple
Service, the Apple Watch is the future at Apple. 

The Apple Watch was equipped with heart rate sensor in 2015 and since then, added an electrical sensors with the capabilities to perform an electrocardiogram (ECG) and fall detection.  The Apple Watch will allow Apple to move into Healthcare, which will all them to selling more high-margin hardware and expand Apple Service. 

Wearables are becoming an increasingly important category of hardware technology for big players like Apple

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