LTC: Are all Cryptos turning bullish?Litecoin
Intraday - We look to Buy at 67.17 (stop at 65.18)
We look to buy dips. Previous support located at 65.00. A move lower faces tough support and we remain cautious on downside potential. Trading has been mixed and volatile. Previous resistance located at 74.00.
Our profit targets will be 73.16 and 85.00
Resistance: 74.00 / 82.70 / 88.00
Support: 67.00 / 65.50 / 61.00
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Winklevoss
ZCash now has the freedom to interact with Wall StreetDespite being the pioneer and current leader by market capitalization, Bitcoin BTC is not the best offer out there when it comes to tech-capabilities and potential.
ZCash is based on peer-reviewed cryptographic research, and built by a security-specialized engineering team on an open source platform based on Bitcoin Core’s battle-tested codebase. ZCash’s over Bitcoin is the addition of privacy. ZCash uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them.
Current valuation techniques are a poor measure of potential long term ROI
The crypto-community are in an ongoing debate about the technical discrepancies between other privacy coins such as Monero, Dash, Zencash (ZEC fork), ZClassic (ZEC fork), PIVX (DASH fork), ZCoin and many more.
Then we have the technical analysts utilizing various charts and statistical indicators to determine price support/resistance, range and trends.
Whilst the technology is key in the determination of long term success likelihood and the technical analysis is key for predicting short term trends and ideal entry points they do NOT provide an adequate model for measuring long term ROI.
Large scale institutional adoption
The ultimate long term success factor will be large scale institutional adoption and regulatory compliance
Large scale institutional adoption of digital assets has become a reality. Financial institutions, hedge funds, investment sponsors, RIAs and family offices represent an as yet untouched capital opportunity. For investors and institutions to partake they will require one (or more) of the following:
-An investment vehicle providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws.
-Secure, scalable custody solutions that are compliant with a rapidly changing regulatory environment.
It’s already happening
Gemini
Gemini entry into the market has seen it become one of the most respected and regulated exchange not only in the US but across the globe and only lists coins that are backed by groundbreaking technologies and have met the set standards by the SEC. This has increased the market visibility of ZEC and the pairing has also boosted its credibility.
Greyscale Investments
Greyscale provides a private, open-ended trust that provides titled, auditable ZEC exposure through a traditional investment vehicle. Modelled after Grayscale's Bitcoin Investment Trust, the Trust was created for investors looking for ZEC exposure. Zcash Investment Trust’s shares are the first securities solely invested in, and deriving value from, ZEC.
You cant afford not to invest in this one
Bitcoin Today: heading to 2018 lowPrice
After a short run upwards BTCUSD turned sharply and began the fall, not managing to hold on the 6250 on the way to 6000. For now, the price fluctuates slightly below 6000 (5950), the fact that the most volumes were traded on the 6000 or lower adds to the bearish scenario. We do not consider the 6000 level broken yet, but all looks like the price could go lower and start testing 5750 (2018 low). To consider a rebound or takeoff from this level we have to see the price at least going back above 6250 during the 24 hours, otherwise, the bearish scenario with testing of 5750 is more probable.
Today forecast
Trading in the 5750 – 6250 zone.
Latest news
Opinion on Fall of Bitcoin from Forbes journalist
Why is the bitcoin and cryptocurrency sell-off happening now?
The sell-off currently sweeping through the world of cryptocurrency has been blamed on investors, who last year piled into initial coin offerings (ICOs), often using the ethereum blockchain, bailing out.
As many hundreds of ICOs launched on the ethereum blockchain, it pushed up ether’s price and with it many other major cryptocurrencies.
Highlighting this drop off for investors, a report from analysts at ICORating found the return on investment (ROI) on ICOs in the second quarter of this year was –55.38%, down from an ROI of 49.32% in the first quarter.
This is despite an increase in both the number of ICOs and the total amount raised over the quarter.
Meanwhile, bitcoin and other cryptocurrencies rallied in July on hopes that a bitcoin-backed exchange-traded fund (ETF) would be approved in August by the U.S. Securities and Exchange Commission, a delay on the decision until September has taken the wind from investor's sails. - @billybambrough
Winklevoss Twins comment about SEC decision and future plans
In a recent interview with Bloomberg, the Winklevoss Twins, the founders of crypto exchange Gemini, opened up about the fallout following the ETF rejection that kickstarted a sell-off in the larger crypto market, which recently accelerated after the SEC postponed its decision on whether to allow the listing of the Cboe VanEck/SolidX ETF.
Tyler Winklevoss, who serves as chief executive of Gemini, shared that while waiting for Wall Street and the SEC to get on board with crypto, the company will focus on expanding its product offering focused on retail investors.
Wall Street is taking cryptocurrencies seriously, however, majority of Wall Street firms are still avoiding cryptocurrency market, which remains primarily a retail driven market. This will change over time, brothers state.
Retail investors can currently purchase Bitcoin (BTC), Ethereum (ETH), and Zcash (ZEC) through Gemini, with each digital asset fully approved for trading and custody services via the NY State Department of Financial Services (NYSDFS).
While the Winklevoss Twins wait for full-scale Wall Street adoption, cryptocurrency hedge funds and venture capital funds are currently launching at a record pace. Most of the new funds have been launched in the United States, with only one-third being officially registered with the SEC.
BTC WEEKLY CHART: "The Panic Zone" It's F'UglyThis has to be the ugliest chart I've seen in a very very long time. Where to begin...
The top was put in when the US SEC ruled against allowing the Winklevoss twins to create a BTC backed ETF. They had spent the last 2 months accumulating asset to back the ETF and then dumped it all at once when it was obvious they should put their money somewhere else. That broke the steep solid red trend line I am calling the W.Voss trend.
Price has dropped down to support at the second red dot trend I am calling the Chinese Insider trend. Price bounced off the trend and now all the helium has come out of the balloon and price has dropped back down creating a giant $120 sized "Dead Cat Candle". A DCC is a harbinger of doom to the Chinese Insider rally. The fundamental here is that the PBoC , China's SEC, has shackled mainland based BTC exchanges creating all sorts of problems for the Chinese investor to divest. On top of that, OKcoin is teetering on extinction. I would bet my valuable wooden nickle collection that the dotted red trend is kaputski.
That leaves the 2 year rally as the only real long term support on the chart down around $850. So here's the real warning to y'all. The counter trend indicators are screaming SELL SELL SELL. The volume has been dropping for nearly 2 years. MACD is about to crossover to the dark side at its highest crossover point since the blow off top in early 2014. The Stochastic oscillator is showing that the current decline still has room to drop. It loosely predicts a decline to the feared PANIC ZONE. That implies a 2 year trend break and then a precipitous drop.
Fundamentals: Bitfinex issued an announcement about a grand fork in the BTC hash chain. They and about 12 other exchanges differ with the major miners about how to proceed. Bitfinex leads the market in hedging their bets allowing speculation on the future of each fork. In the mean time investors are bailing into other cryptos. Etherium has taken off, up 300% or more along with several other winners. Not all the cryptos are winners. Litecoin continues to lose value. All of this indecision along with the government thugs have cast a huge dark cloud over all of us.
Does this deter me? Not one bit. I'm looking to snatch up some cheap coin. I'm gonna wave my cowboy hat and ride this hydrogen bomb all the way to ground zero. YeeeeeHaaaaahhh.
Bitcoin ETF Rejected: Bearish Short Term Still Bullish Long TermJust sharing an inverse fractal idea for Bitcoin. Feel free to comment.
Market Update:
SEC rejected the Winklevoss Twins Bitcoin ETF earlier today.
This makes BTC short term bearish, with downside targets from 780-880.
However, we are still bullish on the larger timeframe, with possibility of SegWit activation if Core vs BU can settle their issues, Rootstock release scheduled for May 2017, and the viability of this technology to revolutionise countless industries is beginning to be understood by the early majority.
In the meantime, let's enjoy the Altcoin party or sit tight in USD with bids in place.
Trade safe and don't forget to take profits!
BTC WEEKLY CHART: "The Panic Zone" We've been HoodWinkelvossedIn the event you are unaware: www.theverge.com
How much havoc can a pair of twins create in their lifetime? First they unleashed Zuckerberg on the world, got pissy about it, and now this. Then there is the SEC trying to protect us from ourselves. What right do they have to even pass judgement?
The answers lay somewhere in the "Panic Zone". (channelling Rod Serling).
Serious trend break. I warned you all a week ago. Then I warned you again.
This market funk is not over. There will be a pull back to the secondary trend and then a test of that too. We might get all the way down to $800 where the major 2 year trend is. Meanwhile expect a lot of yo-yo bouncing. This is good stuff. We need a pull back handle to form on that giant cup formation. Kind of like compacting a coiled spring. The target launch for the Bitcoin hyper breakout, THE COSMIC EVENT, is now established. A breakout above $1340 is the launch point. The SEC and the PBoC are not capable of stopping this. I have talked about "when" in previous releases of "The Panic Zone".
I haven't talked about the Bitcoin market PANIC ZONE in quite a while. It starts at the $560. I've noted this on the chart but you probably thought it was my trademark. It's the zone where all the Adrenalin/Testosterone infested 15 year olds can't take the pain anymore and throw in the towel to create a capitulation bottom. A break through the first layer, $475 to $560, ignites the PANIC and the bottom target becomes $330. We're a great distance from this but I though I would just point it out to be thorough. The last capitulation bottom was at $130 from a $1200 top. Who says it can't happen again.
I'm keeping my gunpowder dry. Probably will use some of it at $900 and a lot more of it at $800.