Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
*Explained: What is WTI crude and why is it falling faster than Brent crude?* Oil markets witnessed a historic moment on Monday when WTI crude for May delivery fell more than 100 percent, settling at around -$37/bbl indicating that producers would have to…
Well to the people who didn't grasp the technical talk from the previous post, here is a more real world explaination.
Drop me a DM @cryptopotatoes if you need any analysis
Drop me a DM @cryptopotatoes if you need any analysis
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
These are my current biases on bitcoin. https://www.tradingview.com/x/wziqtHvN/
Nine minutes, that's all it took for daddy to give you the profits.
https://www.tradingview.com/x/1tozvXVP/
https://www.tradingview.com/x/1tozvXVP/
https://www.tradingview.com/x/85sMzmrE/
The power of Dollar Cost Averaging
Dollar cost averaging is a strategy in which an investor places a fixed dollar amount into a given investment (usually common stock) on a regular basis. The investment generally takes place each and every month regardless of what is occurring in the financial markets. As a result, when the price of a given investment rises, the investor will be able to purchase fewer shares. When the price of a particular security declines, the investor will be able to purchase more shares.
I give you some of my criteria whether the instrument is worth to do Dollar Cost Averaging or not and these are the criteria below :
1. The price meets its bottom of support
2. Have a good prospect in the future
3. Worth to buy with potential good return
4. Consolidation after the falling market
And based on those 4 criteria, I'll explain why I choose Ripple to put on my dollar cost averaging portfolio.
1. The price meets its bottom of support : Looking at the price right now where ripple is trending at. The price currently stands slightly above the white region which was the key support at 2017.
2. Have a good prospect in the future : I mean, you know Ripple, it's a decent project with solutions to our flawed financial system. And more important is that Ripple is having a good relationship with several big banks in the world such as BBVA, MUFG, and SEG are just several of the banks that has adopted Ripple.
3. Worth to buy with a potential good return : If we do averaging ripple at current level and assume that in upcoming years there will be a touch toward the previous swing high, I think that this investment of potential 1400% return is worth it!
4. Consolidation after the falling market : Currently the price is still moving below the yellow resistance trend line after a drop since the 2018 market. We just need 1 confirmation of the price to breaks out of current yellow resistance trend line and the price will sky rocket!
Doing the Dollar Cost Averaging is a good strategy to reduce the market timing risk. Once you are patient enough, this will become a very very very profitable strategy.
The power of Dollar Cost Averaging
Dollar cost averaging is a strategy in which an investor places a fixed dollar amount into a given investment (usually common stock) on a regular basis. The investment generally takes place each and every month regardless of what is occurring in the financial markets. As a result, when the price of a given investment rises, the investor will be able to purchase fewer shares. When the price of a particular security declines, the investor will be able to purchase more shares.
I give you some of my criteria whether the instrument is worth to do Dollar Cost Averaging or not and these are the criteria below :
1. The price meets its bottom of support
2. Have a good prospect in the future
3. Worth to buy with potential good return
4. Consolidation after the falling market
And based on those 4 criteria, I'll explain why I choose Ripple to put on my dollar cost averaging portfolio.
1. The price meets its bottom of support : Looking at the price right now where ripple is trending at. The price currently stands slightly above the white region which was the key support at 2017.
2. Have a good prospect in the future : I mean, you know Ripple, it's a decent project with solutions to our flawed financial system. And more important is that Ripple is having a good relationship with several big banks in the world such as BBVA, MUFG, and SEG are just several of the banks that has adopted Ripple.
3. Worth to buy with a potential good return : If we do averaging ripple at current level and assume that in upcoming years there will be a touch toward the previous swing high, I think that this investment of potential 1400% return is worth it!
4. Consolidation after the falling market : Currently the price is still moving below the yellow resistance trend line after a drop since the 2018 market. We just need 1 confirmation of the price to breaks out of current yellow resistance trend line and the price will sky rocket!
Doing the Dollar Cost Averaging is a good strategy to reduce the market timing risk. Once you are patient enough, this will become a very very very profitable strategy.
https://www.tradingview.com/x/OxSxSG6H/
Bitcoin : Breach the 1000 MA?
Hello all, I want to make this as quick as possible so let's get into it now!
Our last short doesn't go so well with this current spike to the upside, so I'll try to update again about the newest idea of bitcoin chart work. Bitcoin has tried so hard to breaks out of the 1000 moving average as the dynamic resistance on the daily time frame. But, it ends up to close below this resistance line. And considering the price has touched the yellow region which is the area of liquidation, this will be a difficult moment for the price and us, the trader to identify the new bias for short term.
Entering the yellow zone however will be a neutral zone. Although we can see the price has breaks above the median line of the channel, The risk remains high for us to open long position for now. There isn't plenty of room for the price to grow because of the upcoming resistances ahead and the fact of the liquidation zone usually produces a choppy movement of the price.
I will wait for the price to show another confirmation to identify the next bias on the short term. Breaks above the yellow zone will leads the price to test potentially upper line of the channel with confluence zone of $9100 region. But breaks below the yellow support trend line will leads the price to $5000 for short term. Patience is the key for now.
Bitcoin : Breach the 1000 MA?
Hello all, I want to make this as quick as possible so let's get into it now!
Our last short doesn't go so well with this current spike to the upside, so I'll try to update again about the newest idea of bitcoin chart work. Bitcoin has tried so hard to breaks out of the 1000 moving average as the dynamic resistance on the daily time frame. But, it ends up to close below this resistance line. And considering the price has touched the yellow region which is the area of liquidation, this will be a difficult moment for the price and us, the trader to identify the new bias for short term.
Entering the yellow zone however will be a neutral zone. Although we can see the price has breaks above the median line of the channel, The risk remains high for us to open long position for now. There isn't plenty of room for the price to grow because of the upcoming resistances ahead and the fact of the liquidation zone usually produces a choppy movement of the price.
I will wait for the price to show another confirmation to identify the next bias on the short term. Breaks above the yellow zone will leads the price to test potentially upper line of the channel with confluence zone of $9100 region. But breaks below the yellow support trend line will leads the price to $5000 for short term. Patience is the key for now.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/OxSxSG6H/ Bitcoin : Breach the 1000 MA? Hello all, I want to make this as quick as possible so let's get into it now! Our last short doesn't go so well with this current spike to the upside, so I'll try to update again about…
Bitcoin fail to breakout and puff it goes.
https://www.tradingview.com/x/7V52xB6w/
Beware of the liquidation zone
Hello all, welcome back again with the bitcoin technical analysis. This time, I'll start this new week with an analysis based on the price action and the dynamic resistance of moving average on bitcoin. This analysis will cover all the area of potential movement for bitcoin whether it will goes up or down.
Bitcoin in the last 3 days is having a very low volatility with a move less than 4% range in the last 3 days. This is however become a very low volatility and will be difficult for us to identify current bias in the market. Although the moves was very slow, we can see that the price is still trending above the 1000 moving average which always be my crucial area of resistance for bitcoin. At current condition, bitcoin's entering the yellow zone which acts as a liquidation zone fir bitcoin. There will be a lot of early short positions get liquidated at this zone and we must anticipate several long wicks to the upside.
If we're talking about the possibility in bitcoin, there is still a possibility for the upside movement toward the $9000 region or the upper line of the channel. The main reasons why we should see this as the potential upcoming movement is that the price has broken out of the median line of the channel and currently trending above the 1000 moving average. Beside those facts, we should see the MACD as the indicator to identify any momentum in the market. it's all on the histogram which shows us that there's still plenty of room for the price to grow to the upside. currently the histogram is still at around 87 level but I see the histogram tick to the upside toward the 200 level which was the previous high could be in.
At current condition, I will stay neutral and waiting for the play of the rising wedge inside this down trend channel. Yes I see a potential of the price of going up but I do believe that at current region, there is still a high number of the risk which will give you a higher number of getting liquidated with the long position.
For my next play, here is what I wait for :
1. The criteria of opening long position with the target of the $9000 :
- The confirmation of the price breaking out of the yellow zone as the liquidation zone
- The failure of this rising wedge with the price breaks out of the upper line of the rising wedge
2. The criteria of opening short position with the target of the $5000 :
- The confirmation of breaks down of lower line of this rising wedge which indicates that this rising wedge is valid
- the MACD histogram ticks down to the negative side showing the bears are taking any control of the market.
Beware of the liquidation zone
Hello all, welcome back again with the bitcoin technical analysis. This time, I'll start this new week with an analysis based on the price action and the dynamic resistance of moving average on bitcoin. This analysis will cover all the area of potential movement for bitcoin whether it will goes up or down.
Bitcoin in the last 3 days is having a very low volatility with a move less than 4% range in the last 3 days. This is however become a very low volatility and will be difficult for us to identify current bias in the market. Although the moves was very slow, we can see that the price is still trending above the 1000 moving average which always be my crucial area of resistance for bitcoin. At current condition, bitcoin's entering the yellow zone which acts as a liquidation zone fir bitcoin. There will be a lot of early short positions get liquidated at this zone and we must anticipate several long wicks to the upside.
If we're talking about the possibility in bitcoin, there is still a possibility for the upside movement toward the $9000 region or the upper line of the channel. The main reasons why we should see this as the potential upcoming movement is that the price has broken out of the median line of the channel and currently trending above the 1000 moving average. Beside those facts, we should see the MACD as the indicator to identify any momentum in the market. it's all on the histogram which shows us that there's still plenty of room for the price to grow to the upside. currently the histogram is still at around 87 level but I see the histogram tick to the upside toward the 200 level which was the previous high could be in.
At current condition, I will stay neutral and waiting for the play of the rising wedge inside this down trend channel. Yes I see a potential of the price of going up but I do believe that at current region, there is still a high number of the risk which will give you a higher number of getting liquidated with the long position.
For my next play, here is what I wait for :
1. The criteria of opening long position with the target of the $9000 :
- The confirmation of the price breaking out of the yellow zone as the liquidation zone
- The failure of this rising wedge with the price breaks out of the upper line of the rising wedge
2. The criteria of opening short position with the target of the $5000 :
- The confirmation of breaks down of lower line of this rising wedge which indicates that this rising wedge is valid
- the MACD histogram ticks down to the negative side showing the bears are taking any control of the market.
https://www.tradingview.com/x/ZDiMjrVD/
Weekly perspective : Here is why the $8000 region is important
A quick update about bitcoin perspective on the 1 week of time frame. There are 2 important support trend lines from this weekly bias. the first trend line is the yellow one which has been broken and the 2nd one is the white support trend line that is very major.
If we use this yellow trend line as our benchmark, we can see that there is a potential of break out strategy in play during this moves. The drop during the earlier of March 2020 could be the initial break out as the phase 1 of break out strategy. Current moves toward the upside could be the action of trying to test the previous broken support trend line that is now become resistance as well. And there is a coincidence, which the golden pocket zone is in align with this previous broken support around $8000 region.
The 2nd important thing is if we look at the MACD indicator as an oscillator indicator, we can see that the histogram is having a tick toward the upside and it's coming closer to the 0 level which it can turns into a positive side in the next few days or the next week's movement. Moving Average on the MACD is looking promising too with a potential of golden cross over to occur in the future.
Any other fundamental thing that I want to highlight is that the halving of bitcoin is coming closer with the estimation of the next 14 days. During the pre halving period, usually a lot of people are exciting to stack the bitcoin because they believe that after halving there will be a push toward the upside due to supply and demand rules.
I do believe a touch toward $8000 is still a valid scenario for short term in the next 1 or 2 weeks, but for long term I'll stay on my bearish bias and the spike toward the $8000 or even $9000 could be only artificial and manipulated
Weekly perspective : Here is why the $8000 region is important
A quick update about bitcoin perspective on the 1 week of time frame. There are 2 important support trend lines from this weekly bias. the first trend line is the yellow one which has been broken and the 2nd one is the white support trend line that is very major.
If we use this yellow trend line as our benchmark, we can see that there is a potential of break out strategy in play during this moves. The drop during the earlier of March 2020 could be the initial break out as the phase 1 of break out strategy. Current moves toward the upside could be the action of trying to test the previous broken support trend line that is now become resistance as well. And there is a coincidence, which the golden pocket zone is in align with this previous broken support around $8000 region.
The 2nd important thing is if we look at the MACD indicator as an oscillator indicator, we can see that the histogram is having a tick toward the upside and it's coming closer to the 0 level which it can turns into a positive side in the next few days or the next week's movement. Moving Average on the MACD is looking promising too with a potential of golden cross over to occur in the future.
Any other fundamental thing that I want to highlight is that the halving of bitcoin is coming closer with the estimation of the next 14 days. During the pre halving period, usually a lot of people are exciting to stack the bitcoin because they believe that after halving there will be a push toward the upside due to supply and demand rules.
I do believe a touch toward $8000 is still a valid scenario for short term in the next 1 or 2 weeks, but for long term I'll stay on my bearish bias and the spike toward the $8000 or even $9000 could be only artificial and manipulated
NewsMash
🌍 The World Economic Forum (W.E.F.) believes blockchain-powered supply chain solutions can help reboot the global economy.
via Cointelegraph
🏞 Switzerland-based Crypto Valley seeks a US$103 million government bailout.
via Bitcoin[dot]com
🖥 Embattled cryptocurrency exchange Bitfinex has launched a social network for traders.
via Modern Consensus
💵 Cryptocurrency payments firm BitPay has added support for Binance’s BUSD stablecoin.
via Decrypt
😷 Major respirator producer 3M beat first-quarter sales and profit forecasts amid the coronavirus pandemic.
via ccn
🌍 The World Economic Forum (W.E.F.) believes blockchain-powered supply chain solutions can help reboot the global economy.
via Cointelegraph
🏞 Switzerland-based Crypto Valley seeks a US$103 million government bailout.
via Bitcoin[dot]com
🖥 Embattled cryptocurrency exchange Bitfinex has launched a social network for traders.
via Modern Consensus
💵 Cryptocurrency payments firm BitPay has added support for Binance’s BUSD stablecoin.
via Decrypt
😷 Major respirator producer 3M beat first-quarter sales and profit forecasts amid the coronavirus pandemic.
via ccn
Cointelegraph
World Economic Forum Looks to Blockchain to Restart Global Economy
The World Economic Forum believes DLT supply chain solutions can help reboot the global economy, launching a blockchain deployment kit
🎓#SpotTrade 🎓
🎓 $CELR / BTC - View Chart
🔸Signal Info: Celer Networks
Rank: #376
Exchange: Binance (Trade)
Direction: LONG
🔸Analysis: Celer Network has just recently shown an inclination to breakout to the upside. The higher high made on the 26th April is one good indication. The solid horizontal support at 21sats held strong for the month of April.
We are going to try and buy the mid and lower zone of this channel before the price continuers its bullish trend.
🔸Current Price: 25sats
❇️Entry: 23sats, 21sats
🎯Take Profit: 28sats, 32sats, Open
♦️Stop Limit: 19sats (-12.69%)
🎓 $CELR / BTC - View Chart
🔸Signal Info: Celer Networks
Rank: #376
Exchange: Binance (Trade)
Direction: LONG
🔸Analysis: Celer Network has just recently shown an inclination to breakout to the upside. The higher high made on the 26th April is one good indication. The solid horizontal support at 21sats held strong for the month of April.
We are going to try and buy the mid and lower zone of this channel before the price continuers its bullish trend.
🔸Current Price: 25sats
❇️Entry: 23sats, 21sats
🎯Take Profit: 28sats, 32sats, Open
♦️Stop Limit: 19sats (-12.69%)
TradingView
🎓#SpotTrade 🎓 $CELR / BTC 🎓 for BINANCE:CELRBTC by HashedPlutus
🔸Signal Info: Celer Networks
Rank: #375
Exchange: Binance
Direction: LONG
🔸Analysis: Celer Network has just recently shown an inclination to breakout to the upside. The higher high made on the 26th April is one good indication. The solid horizontal support…
Rank: #375
Exchange: Binance
Direction: LONG
🔸Analysis: Celer Network has just recently shown an inclination to breakout to the upside. The higher high made on the 26th April is one good indication. The solid horizontal support…
🎓#SpotTrade 🎓
🎓 $GNT / BTC - View Chart
🔸Signal Info: Golem
Rank: #96
Exchange: Binance (Trade)
Direction: LONG
🔸Analysis: We attempted trade Golem not to long ago. Some serious volatility shook us out of the position, but now, we have a chance to re-enter with the odds stacked in our favour.
Curved resistance lines are in play and only seldom have wicks shot above this level. Overall, this looks like a culmination point and a decisive decision needs to be made by the big players now. Lets trade long!
🔸Current Price: 542sats
❇️Entry: 534sats
🎯Take Profit: 595sats, 673sats, 735sats
♦️Stop Limit: 493sats (-7.54%)
🎓 $GNT / BTC - View Chart
🔸Signal Info: Golem
Rank: #96
Exchange: Binance (Trade)
Direction: LONG
🔸Analysis: We attempted trade Golem not to long ago. Some serious volatility shook us out of the position, but now, we have a chance to re-enter with the odds stacked in our favour.
Curved resistance lines are in play and only seldom have wicks shot above this level. Overall, this looks like a culmination point and a decisive decision needs to be made by the big players now. Lets trade long!
🔸Current Price: 542sats
❇️Entry: 534sats
🎯Take Profit: 595sats, 673sats, 735sats
♦️Stop Limit: 493sats (-7.54%)
TradingView
🎓#SpotTrade 🎓 $GNT / BTC 🎓 for BINANCE:GNTBTC by HashedPlutus
🔸Signal Info: Golem
Rank: #96
Exchange: Binance
Direction: LONG
🔸Analysis: We attempted trade Golem not to long ago. Some serious volatility shook us out of the position, but now, we have a chance to re-enter with the odds stacked in our favour.
Curved…
Rank: #96
Exchange: Binance
Direction: LONG
🔸Analysis: We attempted trade Golem not to long ago. Some serious volatility shook us out of the position, but now, we have a chance to re-enter with the odds stacked in our favour.
Curved…
S&P 500 vs Bitcoin : The Degree of Similarity
Hello all, here I present you the comparation between 2 of the most significant class of asset that certainly could drive the economic and the global market.
Looking at those 2 comparation of the chart that I've shared above is that both assets have the similarity of price action.
First, we know that both assets previously had a significant drop after a long wait of the consolidation.
Second, We can easily deduce that both class of assets are having the similar pattern of a rising wedge which usually represent a relief rally during the drop of the market.
And the last but not least is that both assets are approaching the crucial level of the golden pocket zone. This level is acting as a strong resistance on both asset. Will they able to breaks this resistance?
The key of this analysis is to show you that both assets are having a positive correlation for now. Both assets are having the similar opportunity of going lower which indicates potential recession
Hello all, here I present you the comparation between 2 of the most significant class of asset that certainly could drive the economic and the global market.
Looking at those 2 comparation of the chart that I've shared above is that both assets have the similarity of price action.
First, we know that both assets previously had a significant drop after a long wait of the consolidation.
Second, We can easily deduce that both class of assets are having the similar pattern of a rising wedge which usually represent a relief rally during the drop of the market.
And the last but not least is that both assets are approaching the crucial level of the golden pocket zone. This level is acting as a strong resistance on both asset. Will they able to breaks this resistance?
The key of this analysis is to show you that both assets are having a positive correlation for now. Both assets are having the similar opportunity of going lower which indicates potential recession
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
Bulls got a lot of work to do before they head to their territory.
Absolute beauty! Currently in neutral territory
Brace yourselves, Mashers. Around the 10th of May, we’ll witness a major event in the crypto-world: a new Bitcoin halving. This rare occurrence could have a significant impact on the economics of the Bitcoin network. But what exactly is a Bitcoin halving? What does it imply? And what effect can it have on the price of bitcoins? Hold your horses; let’s answer one question at a time.
So what is a Bitcoin Halving?
The Bitcoin network is kept alive by Bitcoin miners. These fellas verify Bitcoin transactions so that they can be correctly processed and added to the blockchain, which is the ledger that contains all the Bitcoin exchanges that have ever occurred. They all do this job in parallel, competing with each other because only the first who manages to verify an entire block of transactions receives bitcoins as a reward for the service. Currently, the remuneration for mining a block is 12.5 freshly minted bitcoins.
However, this reward is doomed to decrease over time. As a matter of fact, whoever designed the Bitcoin network decided that the compensation will be automatically slashed by half every 210.000 verified blocks. That’s what a halving is, and it happens roughly every four years. In May 2020, we’ll see the third halving in Bitcoin’s history, which will bring the mining reward down from 12.5 to 6.25 bitcoins.
So what is a Bitcoin Halving?
The Bitcoin network is kept alive by Bitcoin miners. These fellas verify Bitcoin transactions so that they can be correctly processed and added to the blockchain, which is the ledger that contains all the Bitcoin exchanges that have ever occurred. They all do this job in parallel, competing with each other because only the first who manages to verify an entire block of transactions receives bitcoins as a reward for the service. Currently, the remuneration for mining a block is 12.5 freshly minted bitcoins.
However, this reward is doomed to decrease over time. As a matter of fact, whoever designed the Bitcoin network decided that the compensation will be automatically slashed by half every 210.000 verified blocks. That’s what a halving is, and it happens roughly every four years. In May 2020, we’ll see the third halving in Bitcoin’s history, which will bring the mining reward down from 12.5 to 6.25 bitcoins.