Bullish daily closure above important resistance, Tether printed 100 000 000 just an hour ago, are they preparing the market for a new up move?
Back in 2017, every time they printed new tokens, price rallied.
Why does price rally after that event?
The value of Tether is meant to be equal to $1. They maintain this by changing the circulating supply by changing the balance of active and non-active balance.
If the market cap of Tether is going up, they have to increase active balance by printing new tokens.
If they are increasing the total supply of Tether tokens, there will be an increase in the market cap of Tether which usually happens when there is an overall growth in the valuation of the entire market.
Considering all these facts, the up move is something that would naturally follow after this and comparing with a bullish close above resistance, we may see attempts to reach a new high of this uptrend.
Invalidation is not close below resistance ($11500) but below support ($9600)
Back in 2017, every time they printed new tokens, price rallied.
Why does price rally after that event?
The value of Tether is meant to be equal to $1. They maintain this by changing the circulating supply by changing the balance of active and non-active balance.
If the market cap of Tether is going up, they have to increase active balance by printing new tokens.
If they are increasing the total supply of Tether tokens, there will be an increase in the market cap of Tether which usually happens when there is an overall growth in the valuation of the entire market.
Considering all these facts, the up move is something that would naturally follow after this and comparing with a bullish close above resistance, we may see attempts to reach a new high of this uptrend.
Invalidation is not close below resistance ($11500) but below support ($9600)
Two huge fundamental events coming in July 2019
1) Fidelity Launch
The fifth largest asset managers in the world, Fidelity investments will be helping Bitcoin emerge as every institutional investor’s favorite asset by launching a Bitcoin custodial product.
Fidelity already supports Cryptocurrencies with the launch of a subsidiary called Fidelity Digital Asset Services in October 2018. Fidelity boasts of an astounding $2.5 trillion in assets.
The trustability of the brand ‘Fidelity’ will bring institutional investors much closer to Cryptocurrencies.
2) Bakkt Futures Test
On 22nd July 2019, , Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.
This is no small step. This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty.
Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.
These Fundamentals are huge. They will just bring fuel to the fire that is currently in the market. Are they going to set up the price rally to new all time high (ATH)?
1) Fidelity Launch
The fifth largest asset managers in the world, Fidelity investments will be helping Bitcoin emerge as every institutional investor’s favorite asset by launching a Bitcoin custodial product.
Fidelity already supports Cryptocurrencies with the launch of a subsidiary called Fidelity Digital Asset Services in October 2018. Fidelity boasts of an astounding $2.5 trillion in assets.
The trustability of the brand ‘Fidelity’ will bring institutional investors much closer to Cryptocurrencies.
2) Bakkt Futures Test
On 22nd July 2019, , Bakkt will initiate user acceptance testing for its bitcoin futures listed and traded at ICE Futures U.S. and cleared at ICE Clear US.
This is no small step. This launch will usher in a new standard for accessing crypto markets. Compared to other markets, institutional participation in crypto remains constrained due to limitations like market infrastructure and regulatory certainty.
Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.
These Fundamentals are huge. They will just bring fuel to the fire that is currently in the market. Are they going to set up the price rally to new all time high (ATH)?
#DOGE Technical Update
This chart is the best chart to explain to someone what does mean buying low and selling high.
Current price action is at support. We had weekly close below support but fueled with recent fundamentals (Binance Listing), it is trying to reclaim that level.
If you are interested in #DOGE, wait for the price to give you a sign. Yeah, this can explode anytime leaving you on the side without profit but this also can be an exit pump that will be followed by a new decline to new lows.
Without trying to outsmart the market and predict something, here are the confirmations:
Close above weekly support = Resistance is an active target.
Close below weekly support = Bullishness canceled.
The ideally would be to wait for a weekly close but if it doesn’t match your plan, wait for at least daily close confirmation.
This chart is the best chart to explain to someone what does mean buying low and selling high.
Current price action is at support. We had weekly close below support but fueled with recent fundamentals (Binance Listing), it is trying to reclaim that level.
If you are interested in #DOGE, wait for the price to give you a sign. Yeah, this can explode anytime leaving you on the side without profit but this also can be an exit pump that will be followed by a new decline to new lows.
Without trying to outsmart the market and predict something, here are the confirmations:
Close above weekly support = Resistance is an active target.
Close below weekly support = Bullishness canceled.
The ideally would be to wait for a weekly close but if it doesn’t match your plan, wait for at least daily close confirmation.
Next #TechnicalEvening is coming where we will analyse 5 altcoins.
Send your suggestions to @CryptoSignalsAdmin and we will choose the top5 most requested coins.
Send your suggestions to @CryptoSignalsAdmin and we will choose the top5 most requested coins.
It is nearing support area. Around a month ago when it was testing trendline, I made an update in our VIP channel that I wouldn’t buy that test of the trendline. It turned out to be a good decision.
Now as it is nearing very important horizontal support, we will be monitoring price action and if we get a bullish sign on support, we will buy it targeting at least the trendline, maybe even upper resistance.
Now as it is nearing very important horizontal support, we will be monitoring price action and if we get a bullish sign on support, we will buy it targeting at least the trendline, maybe even upper resistance.
It broke down from the trading range and now it is testing previous resistance.
This was one of the better-looking alt coins but with this move below support, it is joining the bearish crowd.
Let’s see if it gets back in the range. If that happens, it will stand out again from the majority.
We will look for buyers only once it closes above resistance.
Bearish move but there is a chance in case we get close back in the range.
This was one of the better-looking alt coins but with this move below support, it is joining the bearish crowd.
Let’s see if it gets back in the range. If that happens, it will stand out again from the majority.
We will look for buyers only once it closes above resistance.
Bearish move but there is a chance in case we get close back in the range.
If something looks scary, that’s BNB. I was talking and I am still talking, if you bought it somewhere on the way up, make sure to book the profit because it can vanish.
If the old all-time-high doesn’t hold, the next potential support is 60-70% from the current price.
Knowing what caused all this move up makes me even more scared.
Be careful one more time. No matter what is next move that CZ is going to make, the technicals are ready for a major correction.
If the old all-time-high doesn’t hold, the next potential support is 60-70% from the current price.
Knowing what caused all this move up makes me even more scared.
Be careful one more time. No matter what is next move that CZ is going to make, the technicals are ready for a major correction.