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BTC watchingSpent a bit of time during the drop, playing on the charts. Nothing new to see, as expected, as per the streams and video updates recently. The Textbook Wyckoff Schematic. Lovely little move. To our Discord Community! Thanks for all the support. Been an awesome couple of days! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
12
Wyckoff distribution before your eyesLeaving the Wyckoff distribution structure. As per the previous posts & streams. People where saying "guys a boomer", "FUD" and all the other good stuff. I've been Bullish since 2011 and my overall sentiment is long. But I have traded 21 years now and know a healthy sign of the Bull moves are areas to buy the dips. If you look at the logic in this post, it's written out as a text book example. I would actually choose this to teach in the class room. We have covered a lot of this logic & also have a slight insight into the world of Venture Capital - seeing various angles is never a bad way of seeing things. This is part of a healthy correction, well needed and will actually do the whole sector some good overall. We have already issued some long calls for the larger time-frames. Stream later via @Paul_Varcoe Discord channel in the signature of the post, come join the conversation. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
23
Trading in the ZoneJust wanted to share some info on the calls from last week and some updates. We are now in the zone mentioned a nice catch of a short $14,000 drop on the "Crypto Beast" Wyckoff structure has played it's hand and it was beautiful. One happy chappy! Now we are at the zone, expecting a slow move up, some addition sideways consolidation before a couple of traps are put into motion. Paul covers some of this in the latest stream. Thanks @Paul_Varcoe for a great update stream earlier! www.tradingview.com Have a great week! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
7
Bitcoin schematic formationWatching the recent BTC moves, we have overlaid both Wyckoff & Elliott to highlight the current situation. Talking our community through the process - we thought this was interesting and worth sharing here. The example using Bitcoin has been near enough textbook to here. There are several crosses of interest currently using SPX, DJI & Gold, but the Grayscale pattern clearly shows a bias. Watching closely. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
17
Crypto news & updates going into the weekend week 2This weeks main event was clearly Elon's Tweet dropping the Bitcoin price! BTC Who will be the next Tesla darling? Everyone is trying to woo Elon Musk after he dropped Bitcoin? Elon Musk once again rocked the crypto world, but this time instead of shilling Doge, the Technoking of Tesla dropped a bombshell that Tesla would no longer accept Bitcoin payments for cars and that they are “looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.” Almost immediately the crypto market lost $365 billion in value as people sold across the board. Now almost every project is clamoring for Musk’s attention as though the Imperator of Mars is holding a ball to select a new bride. But who will be his Cinderella? Source; www.crypto-news-flash.com Linked closely to Mr Musk - Doge Coin; How Elon Musk Crashing Bitcoin To Grow Dogecoin Is A Silly Move... Many cryptocurrencies are now showing off their “greenness” to a passing Elon Musk. Only two things are clear for the moment: 1) No other cryptocurrency comes close to the energy use of Bitcoin, and: 2) Whatever other coins Elon may be interested in, they are now on sale! Doge leaps as BTC retreats - www.reuters.com =================================================================================================================================== Cardano (ADA) Bitcoin plummeted nearly $9,700 in the two hours following Musk's tweet – a drop of about 17%. Most other cryptocurrencies, as they usually do, fell along with Bitcoin. But not Cardano (ADA) – after a brief drop, it reversed course and started powering toward an all-time high. Why the Cardano Price Hit a Record High Although Musk did not mention Cardano in his tweet, he did drop an intriguing hint that immediately sent crypto Twitter sleuthing. "We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction," Musk said. It didn't take long for people to guess that Cardano could very well be at the top of Tesla's list. ================================================================================================================================== XRP Starting to see a theme here; Elon Musk handed Ripple the best ad campaign for XRP: Crypto Attorney... One crypto enthusiast, and a renowned attorney, believes this is the best ad campaign Elon could have handed to Ripple and XRP, and it was on a silver platter. Source; www.crypto-news-flash.com ================================================================================================================================== TRX - Tron Nothing major to report here. Can be seen in the price action - pretty sideways. =================================================================================================================================== THETA Similar again for this one; The Theta price declined today as investors continued to worry about high-interest rates and the decision by Elon Musk to stop Bitcoin payments. THETA is trading at $9.6835, which is about 40% below its year-to-date high of $15.88. ================================================================================================================================= XML BORING This week. ================================================================================================================================== BTT 5% + rise today Price Change 24h $0.0003166 5.36% Anticipating a rise here. ================================================================================================================================= ETH Ethereum Drops 9%. Is This a Buying Opportunity? Source; www.fool.com ================================================================================================================================ LTC Corrections over the last 24 hours notwithstanding, Litecoin, the silver to Bitcoin’s gold, has been consolidating its position in investors’ portfolios for quite some time now. After oscillating in the $40 to $60 price bracket for a few months in 2020, Litecoin managed to break its monotonous trend and gradually picked up momentum on the back of Bitcoin and Ethereum’s price performances. At the time of writing, the alt was trading around the $330-mark. "Van de Poppe further asserted that once LTC breaks past its previous ATH, its upward trajectory would be “pretty phenomenal.” He also pointed out, “ETH has broken from its old ATH and has rallied roughly 156 percent. If we do the same simplistic math and extrapolate this rally for LTC in the future, then we’re going to get closer to a $900 Litecoin.”" -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- As per usual - have a great weekend and for further & advanced education - Discord in the Signature below; Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
KRAKEN:XLMUSD
by Mayfair_Ventures
13
Elliott overlay to accompany the WyckoffWe have been posting more and more in our community around the logic of this move - After the Rocket call on the 18th of March, it's clear to see how respectful the price action has been. Inside a weekly (3-4) move in terms of Elliott Wave, we have seen a near-perfect example of a Wyckoff distribution play out. This was shared two weeks ago now, showing the logic and the pattern as it played out. I wanted to post it on TradingView to accompany the Wyckoff videos from earlier this week. When you see it as an overlay - it's now clear professional money is starting to take control. The assumption of many retail traders is that institutional money flow in = price up, and that is the reason over 75% of retail lose money. Have a great weekend all! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDShort
by Mayfair_Ventures
6
Why This is Distribution & not an accumulation phaseAfter a failed stream with @Paul_Varcoe Where the tech managed to cut off, I had jumped into a new stream to give the 10mins of BTC update for today. However, as the last couple of points were done in under the 5mins requirement for the stream to be saved. That was lost as well. So here's the stream Take 3 - shortened and summarised. Have a good weekend. See the posts mentioned below in linked ideas. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDShort
by Mayfair_Ventures
54
Crypto to over take Forex $5Tn a Day next monthI am Bullish Crypto as a whole. Have been investing and trading Bitcoin since 2011. But as a trader of 21 years, I also know for the Crypto sector to remain healthy and flourish, it needs a couple of things. Firstly a rest, it does not mean it's changed to Bearish sentiment. However, knowing that over 70% of retail lose money & it would not surprise me if that is higher when it comes to crypto. You can clearly see some bitter words online - especially when you say the words "short or Bearish". It is for this reason the market needs to take a breather, professional money does not directly equate to flights to the moon. Some common sense is required, if retail sentiment is mostly long - we have seen a buying climax at a wave 3 extension in Elliott weekly terms. So this move sideways is to be expected and part of the natural market cycles. We have a tired Bull and a baby bear. COT leveraged funds are still net short, Retail sentiment net long = who usually wins? Grayscale still offering the biggest discount for their BTC fund. This won't happen overnight, some cycles take years to evolve. We are currently mid-way through a genesis wave, which is being turned into a professional instrument in front of our eyes. There will be heartache, there will be pain and of course, there will be euphoric moments. When Elon stepped up and said Tesla will accept BTC; it added industrial credibility. Other publicly listed firms would have quickly jumped on the bandwagon. Then the pullback tweet happened. This is a speed bump and not the end. As most money managers (managing funds for the wealthy) do not understand Crypto, Blockchain - they will go with what makes sense on paper, BTC has a track record of insane gains, so their exposure can be protected (to a degree) so when they pitch for more AUM (Asset under Management) from their high net worth and corporate clients, they can tick the "exposure to crypto" box. This is why BTC is ahead of the curve compared to most of the other coins and tokens as of today. You can see from my last couple of video posts and our streams, the Wyckoff and Elliott schematics are almost textbook in BTC. But as I said above, professional money does not simply convert to "Bull run forever". The crypto sphere needs some tightening up & again this will be good for the market and sector. Regulators will find ways, the governments will find ways to bring their oppression to crypto. Like it or not, the powers won't take it laying down. Or we will have a world full of bankrupt bankers and Billionaire former postmen & bricklayers (no offense to either profession). So although it's positive - it does need a rest and this is the logical location for that respite. Joking with the title - we are a while away from that. But it might happen - one world currency n all that. We have covered a lot of the charts and logic above, Elliott and Wyckoff in our discord community. Also more streams this coming week. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDLong
by Mayfair_Ventures
14
Another Overlay "Exposing the Schematic"A very quick video, showing a Wyckoff distribution schematic (update from the last post). We have covered these in the streams with @Paul_Varcoe Another stream later on BTC at 15:30 UK time today. www.tradingview.com With Elon's tweet pushing the price of BTC down - it's now at the lower band of the Wyckoff structure (overlaid) in this post. Some more confusion and fear to drive lower for sure! I also posted yesterday some more educational content on why people are hooked on crypto. See linked ideas. Will be updating this as the schematic unfolds. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDShort
by Mayfair_Ventures
15
BTC facts - chart overlaid to show the logic.I have been asked recently about the BTC moves and how the "they Blew up the rocket" call back on the 18th of March fits this. It's pretty simple - Elliott wave Weekly (3) = Daily ⑤. That combined with a near perfect example of a Wyckoff Distribution schematic as per the ghost overlay. We had discussed this in our Discord last week and covered in the TradingView stream again yesterday with @Paul_Varcoe Here's a link to the TV stream - www.tradingview.com But for some reason there is some technical glitch on TV's historic stream's from yesterday. so here's also the YT link below encase it's not working in a few hours; www.youtube.com Although it's short - I hope this makes sense. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDShort
by Mayfair_Ventures
31
Recent editor picks in one place! This post is a little different, I have recently gone back into Trading Education and mentoring and wanted to ask what kind of post or info would the community like? Here's a list of the recent editor picks; some educational content (each link you can click on to go through to the actual post) 1) Gann Fan Tutorial 2) Buying the Dips made simple 3) Simplified Elliott 4) Elliott level 2 - (not an editors pick) but goes after the Simplified Elliott) 5) Quick intro to Moving Averages 6) Simpson's walkthrough Psychology 7) This one is not an editors pick but goes into more depth around the Simpson's post 8) Trading Can be lonely 9) Not an editor pick but some books for when your lonely 10) Bart pattern - no education but had a pick for this one 11) This land is mine 12) Crypto news and updates (last week) 13) How to do fundamental analysis on altcoins Some other posts worth mentioning 🍒 COT guide - 🍒 Indicators Vs Price Action - 🍒 Using the comparison tool as indicators - 🍒 Interesting news events on BTC highs/lows - 🍒 Did you know S&P now has Crypto index's? And have you seen a Wyckoff schematic laying underneath a daily BTC chart? This is awesome! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITFINEX:DOGEUSDEducation
by Mayfair_Ventures
9
How to assess an altcoinWhen doing fundamental analysis into a stock or in this case a coin – you need to appreciate, it is still a company after all. So, your fundamental analysis should include, taking a deep dive into the available information. You might want to review the project use case, the team, and the money the project has raised so far. As you can’t really do technical analysis with limited data available on the charts. Your goal is to reach a conclusion on whether the asset is overvalued or undervalued. At that stage, you can use your insights to inform your trading positions. In other words, have we had a major hype & can a dump be expected? Trading assets as volatile as cryptocurrencies requires some skill. You will need to define a strategy – otherwise, you are Gambling & not trading or investing. As for Technical analysis, some expertise can be inherited from the legacy financial markets. Many new crypto traders use the same technical indicators seen in Forex, stocks, and commodities trading. You often see tools such as the RSI, MACD, and Bollinger Bands which seek to predict market behavior, the issue with this is the lack of data mentioned above. Yet, these technical analysis tools are also extremely popular in the cryptocurrency space. Slightly harder to read a moving average when the price is in a 90-degree move up. With cryptocurrency fundamental analysis, though the approach is similar to that used in legacy markets, you can’t really use tried-and-tested tools to assess crypto assets. To conduct a proper analysis, what we need is to understand where they (the company/Coin) derive value from. ==================================================================================================================================== For you newer traders… “What is fundamental analysis (FA)?” Fundamental analysis (FA) is an approach used by investors and traders to establish the "intrinsic value" of an asset or business or in this case, crypto. By looking at a number of internal and external factors, their main goal is to determine whether said asset or business is overvalued or undervalued. They can then leverage that information to strategically enter or exit positions. The goal of this article is not to dive into the methods of FA as a whole, rather just to highlight where you should begin. ==================================================================================================================================== However, there are problems with crypto fundamental analysis (in the traditional sense) Cryptocurrency networks can't really be assessed through the same lens as traditional businesses. If anything, the more decentralized offerings like Bitcoin (BTC) are closer to commodities. But even with the more centralized cryptocurrencies (such as those issued by organizations), traditional FA indicators can't tell us much. So now we are stuck between a rock and a hard place… A quick step would be to identify strong metrics, these should not really take into account things like Twitter or Facebook followers. It’s so easy these days to buy several thousand followers for social media sites. One method could be; the number of active addresses on a blockchain and see that it has been sharply increasing? For example… Are we seeing Company actors transferring money back and forth to themselves with new addresses each time? This is the level of info you can go down to – we are on the Blockchain after all. A little more TECHNICAL If you want to get a bit more technical – you can look at “On-Chain” metrics in depth. On-chain metrics are those that can be observed by looking at data provided by the blockchain itself. By running a node for the desired Crypto and examining the data, this can be time-consuming and expensive. Particularly if you are only considering the investment, and don't want to waste time or resources on this process. A simple way to do this (in some instances) is to use API-based solutions, plug into exchanges, and see third-party tools such as Binance-research's project reports. Look for info such as; 1) Active Addresses 2) Transaction value 3) Fees – this will give an idea of the demand… Other areas as mentioned above You are looking to ‘invest’ in a tech company, which is the longs and shorts of it. So go and read through the whitepaper. Assess use cases, do they make sense to you? Review the team, do they have experience or have they already raised finance enough to keep the project going – you can now use the chain metrics – to see money flow, you could go and look at the companies register, in the UK all companies are set up under “companies house” this will show shareholders, early account info, company directors. Other factors How about competition in the space? What projects are offering similar solutions, are the other companies further along? Does the company you are looking at, have some kind of USP over their competitors? Supply Mechanisms – Liquidity and volume – Market Cap. These are all things to take into consideration . And Finally - Initial distribution and Tokenomics as a whole A lot of projects have created tokens as a solution looking for a problem. Doge on the other hand created a meme for the market, which is turning into a solution. Understanding the use case, cannot be stressed enough. As such, it's important to determine whether the token has real utility. And, will it have decent adoption? Consider how the funds were initially distributed. Was it via an ICO or IEO, or could users earn it by mining? The whitepaper should outline how much is kept for the founders and team, and how much will be available to investors. If it was mined, you could look to evidence of the asset's creator pre-mining (mining on the network before it's announced). We have a live stream Monday at 3:30 GMT with @Paul_Varcoe 📺 www.tradingview.com 📺 As I said, this is only to give you a starting point - especially for you newer traders. There are several other factors & methods but start here.
Editors' picks
Education
by Mayfair_Ventures
33
Interesting events at Bitcoins high & lowsJust playing around with @TradingView Features - looking at the "all of BTC History" chart - this got me thinking. What happened in world news and events on the highs and lows? Anything significant or interesting. The one thing I didn't include was the launch of Ethereum. Which was July 30, 2015, encase your wondering. Thought this would be interesting to share. I won't paste links to each article - but used a site called "the week" to pull up historic dates & events. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
INDEX:BTCUSD
by Mayfair_Ventures
4
S&P Cryptocurrency MegaCap IndexHope you are all having a good weekend! NEW YORK, May 4, 2021: S&P Dow Jones Indices (S&P DJI), the world’s leading index provider, has officially launched its new series of digital asset benchmarks, the S&P Digital Market Indices. These new S&P-branded indices will measure the performance of digital assets listed on recognized open cryptocurrency exchanges. I have traced the current mega-cap index - best I can. I have overlayed it on the ETH/BTC chart as there is not YET a ticker on TradingView. The S&P Cryptocurrency MegaCap Index is designed to track the performance of the digital assets Bitcoin and Ethereum. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSD
by Mayfair_Ventures
4
Elliott Count update, continuationAs the weekly Elliott level post - Elliott had yet to complete its impulsive move up. Here's the updated count and move - logic is that we are now at another 618 key level. We can define the waves within that last push, what was assumed 5 was only a 3. So here's a simple update. Not looking to short, but won't take the long until this pullback. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSDShort
by Mayfair_Ventures
6
Crypto news & updates going into the weekendWe have recently been discussing Crypto more and more & wanted to put together a quick summary of some mentioned in the image. In some instances, there is not much of an analysis to be done on them. So here's a few interesting stories to close out this week. One of the big moves this week was Doge overtaking XRP in terms of market cap. This is actually interesting as there are a couple of coins contending for the space, a little swing in either direction is swapping out the 4th spot potentially. We have Doge with (as of now) $81,114,574,049 and then XRP $73,188,863,309 The Headline read "Dogecoin Price Finally Tops 69 Cents, Flips XRP to Become Top-4 Crypto" Will it stay there? Will it be Ripple taking it back or will we see a rise from some of the one's lower in this list? The gains continue the mind-blowing ascent of the meme-based cryptocurrency that is now the fourth-most valuable crypto in the world. DOGE is now up an eye-watering 13,611% year to date and is up 1,017% over a 30-day period, according to data at Messari. Linked to the same point - Elon Musk warns crypto fans to 'invest with caution' as Dogecoin explodes. The Telsa boss could send Dogecoin to the moon on his SNL spot, but he's now telling people to be careful. This week we have also seen ADA (Cardano) break out vs. Bitcoin as ADA price discovery nears $2... A move that an increasing number of large-cap altcoins are seeking to copy, ADA gained impressively during the past few days, going from below $1.30 to the highs as sell walls disappeared. We also had news that Cardano has been Nominated for Blockchain Solution of the Year. Will this have a major impact in the coming weeks? ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ What about Stellar? (XLM) Making a Move Higher on VISA, Tala Announcements? It is enjoying a bullish momentum as we head into the weekend, in line with the positive sentiment in the overall crypto market and global financial markets in general. XLM/USD is trading around $0.64. BTT is giving us a slightly down esq sentiment at the moment, are we expecting a rally or will it continue to fall? If we look at some winners - how about BNB? Based on the assumption that BNB’s market cap stays at $100 Billion it will currently remain in the 3rd spot behind only ETH and BTC. And on ETH - I feel we are consolidating at the top of an Elliott 3 weekly move. In the news - Crypto Briefing’s CB10 Index Sees Large Rebalance to ETH, DOGE. Will this be the driver for the consolidation and drop? Sol - going well on the chart, however - Burnt Finance Raises $3M For A Solana-based NFT Marketplace; Famous for Burning Banksy Art Piece. This could be enough exposure to give it another lease of life? Theta sideways Tron - Class actions against Binance, Tron and others stumble after Bibox court victory. At the beginning of April of last year a flurry of class-action lawsuits took aim at many of the biggest names in crypto. In recent weeks, court developments have cast doubt on the future of those legal efforts. Leading the cases were law firms Roche Freedman and Selendy & Gay. Already well-known in crypto circles for a suit against Tether and BitFinex and another against Craig Wright, on April 3, 2020, the firms filed class-action suits against Binance, Tron, BitMEX, KuCoin, Bibox, Civic, Kaydex, Quantstamp and Status. Overall it's been an interesting week. Seeing BTC more or less sideways. Let's see what the weekend will bring. I think it might be a case of a dip in BTC & a rise in some altcoins. Fun times! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Editors' picks
KRAKEN:ADAUSD
by Mayfair_Ventures
13
BTC as happy as can be, rolling around hereBitcoin is still rolling around in the dirt. As happy as a pig can be! Here's why still short here. There is an ideal Wyckoff structure - for those of you who follow our Discord or saw @Paul_Varcoe Stream on Monday just gone - you will see I showed a Ghost Wyckoff structure under a TradingView chart - You could not really pick a better example for a Wyckoff schematic. It is an AWESOME Image. The second thing is - If you saw the "They blew up the rocket" post You can see, other than the ATH fake out, the price has become very respectful. Then if you are less familiar with Wyckoff - there's a sloping structure (more advanced technique) playing out, again this is an almost perfect structure example. And it's live right now on the Daily. ========================================================================================================================================= The next pieces show indicator levels; This shows the crypto strength - Orange being BTC, Green is ETH and Blue is XRP. Divergence in the momentum All of which is exaggerated by the simple Weis wave move on the Monthly Timeframe. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ COT data has been dropping in the shorts; but also the longs = sideways action, around the 17th of April we saw a drop from 7.6k shorts and 3k long to this last release being 5.5k short & 2k long. Interesting times. I have posted several Elliott moves in recent weeks - it's incredible to see the respect being shown in such an infant instrument. For the record, I have been Bullish since 2011. But it's now time for a rest, some new liquidity and go again! See some of the linked ideas below. Please feel free to add topics for discussion below; Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSDShort
by Mayfair_Ventures
13
Crypto Bitcoin Correlation - (altcoins)Here's a quick correlation view of some of the top altcoins. Correlation: Positively correlated variables tend to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other. This quantifies the estimated strength of the linear association between two variables. It ranges from +1 to -1: +1 indicates a perfect positive linear correlation, -1 a perfect negative linear correlation, 0 indicates no linear correlation. The chart in the background represents the change in the correlation over time. Alts Dominance - could it be only as BTC is slightly ahead? Will this cross - when BTC hits it's weekly (4)??? Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
CRYPTOCAP:OTHERS.D
by Mayfair_Ventures
7
ETH Elliott WeeklyEthereum nearing a (3) High on the Elliott level weekly. This is a (5) Daily - So I am expecting a little more of a Bullish drive. A decent drop giving us a correction down from the 5th wave daily and into (4 Weekly). Waiting to see the trend's character near the next level high. In Extension terms, it's very near an 11.618. Now we are seeing some professional money coming into the mix - We can see the ETH Cash Settled Asset Managers taking 0.33k shorts off the table and the Leveraged Funds adding 0.409k Short & 0.201k Longs. Just covered some of this with @Paul_Varcoe in the TradingView stream (link below) 🎥 www.tradingview.com Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSDShort
by Mayfair_Ventures
23
Come give your two pennies worth!!!After a long time in the trading world and now in the technology venture capital & alternative investment space. I wanted to write a piece on the crypto/blockchain space as a whole. What a lot of people fail to realize is the technology underpinning the sector, what that means, how it’s connected and why it’s not just looking at pump discord servers, buying on news and actually just buying in a straight line. The whole sector is new, the people jumping into crypto is astonishing – but the lack of understanding is quite Frankly; SHOCKING. In the beginning, there was Bitcoin, this has become the default crypto of choice – King of crypto as we know it so far! This is largely due to the lack of understanding and is deemed predominantly as the safe investment. Venture Funds, PE firms, banks all see an investment into crypto as a tick box (mostly) do we cover this asset class? "Yes, we do" is the kind of logic for many of the old money firms, without having to delve too deep. Grayscale really shook things up with the crypto funds they structured. Grayscale - www.fool.com As the world evolves, and the crypto market grows and establishes its foundation in global markets in various ways we can see the technology evolving. Enter other currencies, Ethereum (ETH), Ripple (XRP) and many more. What’s the difference? Current view of the total crypto market cap chart Blockchain Taking a slightly deeper dive into the tech itself; you have several protocols that differentiate the technologies, the capabilities, and even the scalability. Bitcoin The bitcoin network is a peer-to-peer payment network that operates on a cryptographic protocol. Users send and receive bitcoins, the units of currency, by broadcasting digitally signed messages to the network using bitcoin cryptocurrency wallet software. But isn’t all crypto designed to do this? Well yes & no. Bitcoin uses a protocol called proof of work. (Understanding the protocol in this detailed way is hard work.) To understand the technology itself, you need to be comfortable with public-key cryptography, and with the closely related idea of digital signatures. I’ll also assume you’re familiar with cryptographic hashing. Proof of work – Proof of work (PoW) is a form of cryptographic zero-knowledge proof in which one party (the prover) proves to others (the verifiers) that a certain amount of computational effort has been expended for some purpose. Verifiers can subsequently confirm this expenditure with minimal effort on their part. Then you have other crypto's using the Proof of Stake protocol. Such as; DASH & Ethereum. Proof of stake – The Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins they hold. This means that the more coins owned by a miner, the more mining power they have. You then have yet another protocol called - Proof of Authority; Proof of Authority (POA) is a consensus method in which a number of blockchain actors within the ecosystem are given the power to validate transactions and ultimately decide whether new blocks will be added to the blockchain or not. In the case of Proof of Authority, it is not suitable for public blockchains as there is essentially a monopoly with a few actors who may confirm transactions. Altcoins The main altcoins are Ethereum and XRP (Ripple). Now the issue with many altcoins is that not many have a use case or a real-world problem to solve. Ethereum provided a type of Lego set ability for developers to create projects. Thus making it the Linux of the crypto space. This means Bitcoin is the Apple – nothing new or exciting but packaged well and designed for the cool kids who only need a browser and some bragging rights “I own the latest iphone”. Ripple has gone after the payment space, and as a financial instrument in the financial sector – makes a little sense. Could it replace Visa & Mastercard? Think of Ripple like the Microsoft in the scenario. Obviously, we have new contenders such as DogeCoin. I read recently that it’s now worth more than Barclays. It’s this kind of thing that causes issues in the industry as a whole. To obtain mass adoption, it needs to be professionalized. Mass adoption is what will make or break the market as a whole & 100% shake out anything that isn’t useful! There are, however, a good couple of projects including Litecoin, which is nearly identical to Bitcoin. The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. This allows Litecoin to confirm transactions much faster than Bitcoin. Another interesting project is Cardano, which is a public blockchain platform that aims to run smart contracts. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency Ada The project differentiates itself from competitors by using a research-driven approach — the platform is designed through peer-reviewed papers written by computer scientists and academics. Ok so what about Adoption & regulation??? Due diligence When investing in crypto – especially less known altcoins, you need to consider other factors beyond charts and the technical analysis. Much more like trading a stock. You should look to factor in the founders, financials, future plans, and so on. Conspiracy As a cybersecurity investment firm – Mayfair knows what can be done on the cybersecurity side, you can’t help but think with the resources that the NSA has, they can’t find out who’s behind BTC - that on a technology built purely based on the premise of being an immutable ledger. Makes you think doesn't it??? Will we see Crypto replacing Gold and even the Dollar? Comment and thoughts below; give more detail than just a yes/no! Why do you think it? Anything interesting your seeing in the market? I am keen to get opinions, ideas and just some interesting points of discussions. 🎥 Next Live stream with @Paul_Varcoe www.tradingview.com - on Monday 🎥 Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BITSTAMP:ETHUSD
by Mayfair_Ventures
9
This land is mine - says BTCAs you may have seen in several of the last posts, I have been focused on the connections between cross pairs and instruments. My main trading is mostly FX, but with a lot of interest in the crypto space I have been adding some content on this and running commentary on the BTC drops recently. It's amazing to see professional money enter the market, but what most people don't understand is, that it's not "pro money in = price up" there's a lot more to it. So firstly; go and check out the last couple of crypto posts. The second point is - there's something interesting here. Now think, if we can see it - who is going to be attracted to this point? Then of course we have the 50k "round number" all retail games of the mind. I have been asked several times recently, about the correlation of other coins. Quite frankly, BTC is only now becoming institutionalized. ETH will come but it's not there 100% yet (neither is bitcoin YET ) - But look at what happens with a chart overlay on ETH over BTC. Then on the strength indicator - we can see a slight blip on ETH but not XRP or BTC. You need to keep in mind that there is a lot of hype in the market so a blip here and there is to be expected. The daily Quadratics show we are still in negative territory on a daily and the rise in the ATR would also suggest a gain in momentum. COT data tonight will paint another clearer picture of next week's bias. Then we can look out to the weekly; we are positive in terms of bias (look back at the Elliott post) showing this as a weekly pullback and not an overall down move. Why XRP - what about XRP? Well XRP has now over 300 institutional clients and an actual real use case. Although BTC is a store of value, the fees make it hard for any real adoption. Whilst Ripple allows more complex transactions (think wealth manager tasks) in fractions of seconds. This is a strong case for XRP as long as they clear the next SEC/Congress situation. Until then BTC will stay dominant. We will be covering some of this on Monday in a stream on TradinvView with my good friend @Paul_Varcoe who will be hosting the stream. Hopefully, a time will be released later today. Overall bias "LONG" crypto but short term - clear as day we are in a messy (3) - (4) move down on BTC which currently drives everything else. Have a great weekend all! Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Editors' picks
BITSTAMP:XRPUSD
by Mayfair_Ventures
125
Admission and reasons. I'll hold my hands up on this one. The push from 60k to 64k was more than expected. But sat tight. Slept like a baby, up every hour crying. Only joking. Ok so if we go back to the post "Rocket" - See inside this post for full details. We had the A and B moves. But this wasn't actually the 3 end as expected. So in Wyckoff terms, this was the BC and not the UTAD move. Here's why I want to say I am wrong - Our indicator for the top of the mean reversion called a $64,966 March 21st. ATH was 64,896 - what's 70 bucks amongst friends? However, before this, we had a March 19th move inside the regression which also has a tag of the outer upper channel lined up for 65k. The 26th of March the weekly 3 was projected for 67k - however, this is where I was wrong. 3 had yet to complete, meaning daily 5 was still being built. See inside this one for exact levels. So I was feeling a little scared these levels had all shifted a bit. The call was built around 8hours of Liquidity levels (also unchartered territory for BTC) Although it was a fake-out and drop. So I wanted to share the shift. This is what I had pushed out in the rocket post. Whereas actually, 3 is now from the ATH. Last nights call was an internal joke on Cubbish pressure - catching a lovely timed drop (see inside for call) Hope next week brings some more fun. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
COINBASE:BTCUSD
by Mayfair_Ventures
34