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Cryptocurrencies

Bad at Math

Posted on May 24th, 2017.

There’s a famous quote… “The lottery is a tax for people who are bad at math.” It seems the Trump administration is a tax for a country that stopped caring about government.

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Analysis

Analysis: Dash, Ethereum, Iconico, Litecoin, Augur, Bitcoin, Monero, Stellar Lumens, Ripple, Zcash

Posted on May 24th, 2017.

  DASH Dash has had a great couple days, but is no within sight of a 3rd arc pair at ~$150.  Likely will correct soon. Ethereum Classic ETC has also had a great few days.  A 5th arc pair is nearby at ~ $14.  It may be late to chase this one also. Ethereum ETH, like the preceding coins, has had a great few days, but is now within...

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Analysis

Daily Analysis: Markets Stunned by Manchester Attack, as Dash Jumps and Bitcoin Tops $2200

Posted on May 23rd, 2017.

Tuesday Market Recap Asset Current Value Daily Change S&P 500 2394 0.08% DAX 12641 0.18% WTI Crude Oil 51.09 -0.13% GOLD 1260.00 0.12% Bitcoin 2265 5.10% EUR/USD 1.1218 -0.17%   The tragic terror attack by ISIS in Manchester dominated trading so far today, as global stocks were mixed in the cautious environment. Asian markets were...

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Cryptocurrencies

So Much Trouble in the Markets

Posted on May 23rd, 2017.

No words can describe the sadness. When a man decides to take his own life in order to kill children at a pop concert, the entire world mourns. Our hearts go out to the victims and their families.

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Analysis

Monster rally in Dash and Zcash

Posted on May 22nd, 2017.

As you may have guessed, I receive emails every day from traders of all different stripes and persuasions.  I answer when I can, but often just short replies as time is a valuable commodity.  But there is a recurrent question that comes up, and the question is usually raised by traders I can sense are inexperienced.  They ask me when...

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Bitcoin

How to Invest in a Decentralized Economy?

Posted on May 22nd, 2017.

Australian-born Michael Dunworth, CEO of Silicon Valley-based blockchain Wyre, has said that financial advisors should invest in Bitcoin to understand the currency better in the decentralized economy. In a report from the Financial Standard, Dunworth said: “You don’t have to break the bank. You could invest $10, $100 or...

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Analysis

Daily Analysis: Ethereum and Bitcoin Skyrocket while Stocks Remain Stable

Posted on May 22nd, 2017.

Monday Market Recap Asset Current Value Daily Change S&P 500 2381 0.05% DAX 12588 -0.40% WTI Crude Oil 51.08 0.73% GOLD 1256.00 0.19% Bitcoin 2187 4.21% EUR/USD 1.1232 0.24% European stocks continue to underperform their global peers so far today, as the recent strength of the Euro weighs on local equities. Angela Merkel told the...

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Cryptocurrencies

The Weak & the Strong

Posted on May 22nd, 2017.

The old saying in the market “buy the rumor, sell the news” only sometimes applies to cryptocurrencies.

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Analysis

Analysis: Ripple, Dash, Stellar Lumens, Bytecoin & Gnosis

Posted on May 22nd, 2017.

Ripple Ripple gave a false break (highlighted) when it closed above the arc.  It was a buy signal which I tweeted, but then price fell back to the arc again.  It happens.  There is a 1×1 from the swing low which should support price at .32 (assuming the bull market is still intact).  Below there is a good place for a stop, IMHO....

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Bitcoin

Market Overview: 5 Things to Watch Next Week

Posted on May 21st, 2017.

Asset Current Value Weekly Change S&P 500 2380 -0.45% DAX 12638 -1.22% WTI Crude Oil 50.48 4.77% GOLD 1255.00 2.11% Bitcoin 1985 13.43% EUR/USD 1.1205 2.74%   1. All eyes on the VIX as volatility is creeping back The low volatility period that lasted for several weeks, ended abruptly on Wednesday, as we anticipated as the internal...

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Analysis

Weekly Altcoin & Bitcoin Analysis: Time to Short Bitcoin?

Posted on May 21st, 2017.

It was an exciting week for crypto traders. It seems like there are an ever-increasing number of traders joining the party doesn’t it?  Given that just a year ago there was just a handful of traders compared to now, and we still have not even scratched the surface of the number of traders out there still trading Forex exclusively, the...

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Analysis

Weekly Analysis: Bitcoin Takes on $2000 as Stocks Hit by Trump-Scandal

Posted on May 20th, 2017.

Weekly Recap Asset Current Value Weekly Change S&P 500 2380 -0.45% DAX 12638 -1.22% WTI Crude Oil 50.48 4.77% GOLD 1255.00 2.11% Bitcoin 1985 13.43% EUR/USD 1.1205 2.74%   Global stocks had their most volatile days since the US election in November, as the recent scandal of the new US president sparked a strong sell-off on Wednesday....

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Analysis

Analysis: Bitcoin Energy Point is Today (+ Litecoin, Ethereum, Augur, Monero, Zcash & Ripple)

Posted on May 20th, 2017.

Bitcoin Bitcoin has been rallying for what seems like forever, but there is a fairly significant set of resistances in the chart that will likely be reached today or tomorrow.  A long-term 5th arc (black) and shorter-term arcs (the green 2nd arc will likely yield, but the next two will likely have a lot of stopping power, especially the...

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Analysis

Daily Analysis: Stocks Bounce Back as Trump Plays War Card & Bitcoin With a New High

Posted on May 19th, 2017.

Friday Market Recap Asset Current Value Daily Change S&P 500 2379 0.67% DAX 12635 0.34% WTI Crude Oil 50.20 1.72% GOLD 1251.00 -0.69% Bitcoin 1950 6.71% EUR/USD 1.1187 0.43%   Stock markets jumped higher after an initial break yesterday, and they are trading near yesterday’s closing prices today. The renewed US attacks in Syria...

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Bitcoin

Crazy Cryptos on Another Rip

Posted on May 19th, 2017.

It looks like the Japanese have finally upped their volumes. According to coinhills.com, bitflyer – the company who will be responsible for bringing bitcoin to 260,000 stores in Japan – is now trading over 100,000 bitcoins a day and responsible for 10% of the total volume in the market.

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Analysis

Trading Analysis: Bitcoin, Litecoin, Dash, Ripple, Ethereum, Stellar Lumens & Zcash

Posted on May 19th, 2017.

Bitcoin Bitcoin continues it’s epic run toward $2100.  I note that there is an energy point on the daily chart tomorrow, and that a 5th arc is in plain sight at $2100.  Traders might want to take some profits there. DASH In our last update we identified the top of the square (highlighted) as likely support, and indeed it was.  Target of...

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Analysis

The Damage Done

Posted on May 18th, 2017.

The total damage from the WannaCry virus has been counted. See, the thing most people don’t know about Bitcoin is that it’s only pseudo-anonymous. The nature of the blockchain allows everyone to see all transactions clearly, that’s what makes it effective.

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Analysis

Analysis: Watch Litecoin again

Posted on May 18th, 2017.

Litecoin Litecoin has successfully closed above the arc that had been dragging it down.  I believe the low is in and a rally will ensue to at least $40. Stellar Lumens Stellar Lumens had had a huge advance, stopped not once but twice by the top of this setup. We are now below the 5th arc again, and just below (at?) the 2×1 angle...

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Bitcoin

Let’s Fight Back Against the Bitcoin Trading Bots

Posted on May 17th, 2017.

I trade on Kraken, and I have noticed that the order book is increasingly controlled, it seems, by the trading bots. I imagine that is the case on most exchanges.  There are a myriad of very small orders relatively close to the strike price, but the first significant order (to buy or sell) is usually a fair distance away.  Then, after...

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Analysis

Time to Sell Ripple? Analysis: Litecoin, Stellar Lumens, Bitcoin, Ethereum, Dash & Zcash

Posted on May 17th, 2017.

Litecoin I will go out on a limb here and say it’s time to buy ltc. There is a little bit of room to the Fibonacci vortex support, but not much.  Firm support ~ $23.  Lets look at the Gann setup: Here the picture is the same.  There was a spike low exactly at the end of the square, but recovered quickly to above the 5th square.  I...