Paul
Potential Upronner TrapGME's strong downron from 160 indicates that upronner sentiment is wavering. This chart estimates potential highs for the next period of upward pressure using a fib retracement. As in the 2 hour chart the white energy looks to be closing before the Red RSI in the 4 hour falls below fifty, it seems that upward pressure will continue for a bit, but if it fails to retake the previous high (160$) a large downron is likely imminent, although even closing slightly above the previous high could still result in a downron. These points are likely invalidated and position should be reevaluated if there is a close above 160$, however this seems unlikely. The reason this post is labeled as "neutral" is that a short-term long play could be made on the potential upronner trap.
Translations for philistines:
Upronnish = "Bullish" or long
Downronnish = "Bearish" or short
Ari Paul on how Privacy coins like Monero will compete with BTCInvestor: Adoption of Cryptocurrency as P2P Cash is Key For Next Bull Market
Ari Paul, CIO and managing partner of cryptocurrency hedge fund BlockTower Capital, took to Twitter to share his thoughts on what might drive the next bull market: adoption as P2P cash, institutional portfolios, privacy, and marketing.
the crypto influencer argued that Bitcoin will find much growth in demand as individuals fight for their privacy in a world that increasingly embraces surveillance states. Ari Paul foresees inevitability in the power of privacy in the cryptocurrency world:
If Bitcoin is adopted *because* it supports anti-money laundering measures by investors, that opens the door for a specifically non-AML competitor.
Finally, Ari Paul recognized that the easy money obtained by so many cryptocurrency projects, some sitting on $200 million in capital and others over $1 billion, should be able to drive the bullish market.
“Unlimited budgets coupled with the world’s best marketers produce amazing results”, he wrote on Twitter. “They can create at least pumps, and with smart consumer applications maybe some real adoption.”
Investor: Adoption of Cryptocurrency as P2P Cash is Key For NextAri Paul, CIO and managing partner of cryptocurrency hedge fund BlockTower Capital, took to Twitter to share his thoughts on what might drive the next bull market: adoption as P2P cash, institutional portfolios, privacy, and marketing.
The crypto influencer argued that Bitcoin will find much growth in demand as individuals fight for their privacy in a world that increasingly embraces surveillance states. Ari Paul foresees inevitability in the power of privacy in the cryptocurrency world:
If Bitcoin is adopted *because* it supports anti-money laundering measures by investors, that opens the door for a specifically non-AML competitor.
Finally, Ari Paul recognized that the easy money obtained by so many cryptocurrency projects, some sitting on $200 million in capital and others over $1 billion, should be able to drive the bullish market.
“Unlimited budgets coupled with the world’s best marketers produce amazing results”, he wrote on Twitter. “They can create at least pumps, and with smart consumer applications maybe some real adoption.”
