Tezos vs Ethereum
XTZUSD vs ETHBTC Comparison
Just going to let the picture do the talking today. ETHBTC launch price action looks pretty close to XTZUSD. Let’s keep an eye on this.
ETHEREUM
Ethereum is in a fairly stable price channel, for now, but…
…can Bitcoin continue to drag Ethereum upwards?
The ETHBTC pair is not doing great at all, but it’s more a function of ETHUSD not going up at the same rate as BTCUSD, rather than ETHUSD selling off, which is encouraging. If ETHUSD continues to be pulled upwards by BTCUSD then USD/Fiat/Cash traders will follow the safe” high cap altcoins like ETH.
How is the price action looking?
Price consolidated in a triangle at the beginning of the year, broke upwards, retested the breakout, then resumed the upward trend in a fashion that has made a clear price channel.
The upside target would be near the upper limits of the channel where there is convergence with the horizontal price level/retail raid starting around $450. Downside will see price action traders rethinking their strategies if the price drops through any of the 3 small red horizontal lines on the right side of the chart.
All of 2019 has the StochRSI resolving at overbought each time it has left oversold. If that trend continues then the possibility of price reaching >$450 is high.
New Mt. Gox Bitcoin Distribution Timeline
Announcement of Order to Change Schedule for Civil Rehabilitation Proceedings
MTGOX’s Bitcoin exchange users (“Users”) have delivered a large number of proofs of rehabilitation claims by post. Accordingly, the Rehabilitation Trustee requires a significant amount of time to seek correction of deficiencies in Users’ filed claims and to investigate the details of filed claims. In light of the foregoing, on January 23, 2019, the Tokyo District Court issued an order to change the submission deadlines for the statement by the Rehabilitation Trustee of approval or disapproval, among other matters, as below (“Order”). According to the Order, the submission deadline for the statement by the Rehabilitation Trustee of approval or disapproval on rehabilitation claims regarding Users’ rights to make claims against MTGOX for return of cryptocurrency and money (“Exchange-Related Rehabilitation Claim(s)”) has been changed to March 15, 2019. The period to examine proofs of rehabilitation claims regarding Exchange-Related Rehabilitation Claims has also been changed from March 22, 2019, to March 29, 2019. Concerning rehabilitation claims other than Exchange-Related Rehabilitation Claims, the submission deadline for the statement of approval or disapproval and the period to examine proofs of rehabilitation claims remains unchanged. Finally, the submission deadline for the proposed rehabilitation plan has been changed to April 26, 2019.
Is Ripple Still on Repeat?
The pattern of price movement on the XRPBTC chart has been on auto-pilot repeat mode for 22months now. Therefore we currently have a VERY simple market view :
Bear: wait for the support to break and short it. Likely to be a short sell for a few months. Bullish tilt would emerge after sideways to play a relief rally.
Bull: long a breakout of resistance. This would also lend itself to the price pattern finally stopping its repetition after almost 2years of easy trades. Bearish tilt would be reactivated under the breakout of resistance.
Charts are powered by the SCMR Analysis Suite
Disclaimer
Is Ethereum in the Midst of its Seasonal Trend?
The Ethereum / Bitcoin pair seems to be in the midst of its seasonal trend…for now. If the Bitcoin bear market proves too strong then it will suffer and follow Bitcoin lower.
The ETHBTC 1D chart should be making the blue box formation now. The break in direction out of that blue box has been the “set up” trade versus the December 6th “knife catch” trade the past few years.
The 1W chart shows much of the same. In this one we are also taking note of the momentum as it is also making the same pattern as previous years. If ETHBTC can get a 50 to 100 day trend then the first hedging opportunity is: the close after the blue bar prints on the weekly.
It seems like the blue box on the daily should coincide with the weekly momentum reaching overbought. That confirms the view that the break in direction will form a new trend. That being bearish until it is oversold again, or bullish until the blue bar prints, and then reevaluate the market conditions.
Charts are powered by the SCMR Analysis Suite
Disclaimer
Litecoin
Not sure what to say about Litecoin other than the bleeding obvious.
- Lots of similarities in the downwards channel post all time highs. They are relentless in their resistance to upside movements.
- All buys during accelerated selling events, aka when price goes below support, have turned into a profitable trades.
- A year and a bit of downtrend is market by a halving event in both cases.
Will history repeat? It usually does in crypto, but if Litecoin does not go up in the Spring of 2019 towards the Summer halving event then that could be viewed as a bad sign for Bitcoin’s next halving.
If history does repeat then buying LTCUSD in the $20’s and selling when the LTCBTC ratio nears 0.018 – 0.019 is a potential trade to keep an eye on.
Charts are powered by the SCMR Analysis Suite
Disclaimer
Bitcoin
Bitcoin update
Price Action & FIB’s only.
Trade Bitcoin up to x10 leverage
Charts are powered by the SCMR Analysis Suite
Disclosure: The author holds BTC
DayTraderCoin Swap
DayTradercoin is upgrading to a masternode coin. Please follow the instruction below for the swap process.
Instructions for the swap:
– Go to “datadir” folder and backup the entire DayTraderCoin folder. Copy it to your desktop for now.
How to find your datadir:
Windows: go to search and type %appdata%
Linux: it should be in “/home/YourUserName/.DayTraderCoin”
– Make an account on http://chainswap.net/dtc-swap/
– Open old wallet and send your coins to the swap deposit address.
– Once coins confirm shutdown the wallet.
– Go back to the datadir and delete the entire “DayTraderCoin” folder.
– Download the new wallet. https://github.com/xSevithx/DayTraderCoin-MasterNodes/releases/download/2.1/DayTraderCoin-qt.exe
– Generate a new address. New DTC address start with a “9”
– Got back to your http://chainswap.net/dtc-swap/ account and navigate to “settings” then paste your address and submit.
– Once you get your coins then you can delete the DayTraderCoin folder that was backed up to the desktop.
Don’t forget to backup your wallet!
Tezos
The Tezos foundation has recently announce the beginning of beta testing and the highly anticipated launch of the XTZ tokens. Fairly classic chart pattern going on at the moment with the pre-launch futures pricing. Seasoned traders will likely be buying the dips in this mark-up process into the actual launch day. Resistance could be met upon launching if the price is near a double top. If price is trying to break out for another leg higher then opening day mania would be in the cards.
Free Public Telegram Group: https://t.me/joinchat/DBtrr0JbYH1w3DuFkmmvPA
Charts are powered by the SCMR Analysis Suite
BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a
Disclaimer: http://www.coinstreetnews.com/disclaimer/
Holdings: Yes, the author does hold XTZ tokens.
XMR Seasonal Pivot Approaching
This idea started on my Twitter account and then I added to it. Here it is archived for the blog. As you can see, just like ETH & DASH, XMR has also been bound to certain key dates. It is now time for it to start making it’s seasonal pivot if BTC cooperates as well.
Free Public Telegram Group: https://t.me/joinchat/DBtrr0JbYH1w3DuFkmmvPA
Charts are powered by the SCMR Analysis Suite
BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a
Disclaimer: http://www.coinstreetnews.com/disclaimer/
