CORRELATED Declines Across Cryptos Initially led by ETHUSD

Unfortunately, for now there are strong bearish market sentiments for Bitcoin that marked a low at 5858 in Asian session, which is indirectly from the contagion and for some a much delayed US SEC approval for ETFs. As CME Bitcoin Futures are much too expensive for retail speculative investors & traders to get into.

The correlated declines across Cryptos, for  now is led by ETHUSD which just made a 2018 new low $268.83 as of this writing. A 9 month low equivalent to more than an 80% decline from its peak price at $1424.00 as of January 13, 2018. Check this Fibonacci Retracement Applied to measure its price from where ETHUSD came from before its rally.

FIBONACCI Retracement Applied

ETHUSD as of Aug 14, 2018

BTCUSD as of Aug 14, 2018

Apparently technical tools are lagging indicators that would not be as effective since the market is currently driven by bearish momentum sentiments. This will also lead to a spill over negative effects for ICOs backed by Ethereum on certain blockchain projects. Likewise, there has been an increase in failed ICOs as more investors are drifting away from offerings and cashing out as prices continues to decline.

BITCOIN Futures Series Pattern Leads to Break-Down

Bitcoin Classic Overlay on Futures Contract

With date reference as of June 10-11, 2018 - BTCN2018 July Futures taking the lead then with an opening gap at the 7140 levels; while BTCUSD Classic opened with a premium differential at 7498 have been the basis of a series of lower prices breaking down to where it is currently BTCUSD at 5917, Note, that the two consecutive decline have established a higher degree of volatility with increased volumes and ETHUSD at 417 session recovery from their respective lows were temporary. .

This follows the recent information shared on how the anticipated lows could well be managed with the July futures Mid-contract as our lead month since its the end of the 2nd quarter. Rolling over for August whenever any sudden changes would occur where the next trading month would move in and build up new volumes moving forward.   

Cryptos relative relief pullback; short-lived as it would seem now has continued its decline as BTCUSD marked a session low at 5790, #ETHUSD at 406 levels respectively. Adding to the mix is by tracking the 55.2% heavier weighted Bitcoin variance with G - DLCF over the rest of the pack would be quite ideal which also came from a high at 7.22 as of 6.08 and currently at 5.44 as of 6.28.2018

Market Update  

'Due Diligence' Update on Price Action Analysis both in Cash, Futures and FX related pairs can only derive a better understanding & it's relative importance of keeping a level playing field! 

USD Weakness Lifts Major European Currencies Higher

Among others!

With some Asian exchanges still closed for the holiday, the start of the new year for China's Hang Seng Index (HSI) moved reaching a 10 year high at 30515.31, +596.16 pts. = 1.99% on the first trading day of 2018. With Shanghai at 3349.05 +41.88 = 1.27% increase likewise, shrugged off the decline in the US equities on the last day of trading 2017.

With the USD slipping into negative territory for the year at 92.08, the USD Index would have quite some difficulty to recover at this early stage. Currently, the US Dollar index is at 91.85 with a low at 91.75. And may find itself in search of a bottom at the start of January trading. For now, any price recovery may simply end up as a relief recovery up until the mid-term of the 1st quarter of 2018.

AUDUSD As of January 2, 2018

Which can only mean good for the Aussie Dollar now at 0.7840 from the bottom price of 0.7500 just last Dec 08, 2017. And the continuation for the EURO currently above the all important price of 1.1880 and is now at 1.2035 to this writing. While CABLE have been dragged from the BREXIT negotiation table, it had worked itself back to its current levels at 1.3555 with a second wind aiming to mark 1.3580 - 1.3680 range for the week ahead.

With the backdrop on OIL's recovery above $60.00/bbl and Gold managing to stay afloat above $1300 /troy oz. at the rate that both markets have kept a firm grip due to the USD soft prices for the 2017, after briefly touching a 103.00 basis point on the 1st week of January 2017. And continued its decline starting the 2nd quarter thereafter. That's is why we have stayed well within the equities market towards the end of the year. With only to carry the AUSSIE Dollar and CABLE as Europe starts to gain economic ground from their recent lows, while focused on BITCOIN and GBTC Investment Trust settlements prior to the CBOE and CME launching their respective trading. An excellent trade decision if we may call it above par! As it would be unwise to trade against the CME when it comes to Futures trading.  

Let's see the first month's trading and decide how the 1st quarter would really look like based on our near term analysis for the USD as always our basis for market reference. 

PRICE ACTION on CryptoCurrency

Speaks Louder than Words can Describe!

#BITCOIN market sentiments has spill over effects on #GBTC Investment Trust which has out performed even our best expectations well within our one year anniversary. However, those who intend to short futures may have to think more than twice going against the major trend for now. Needless to say the value speaks for itself and this goes the same way with #ETHUSD

GBTC Investment Trust

CME debut have again boosted GBTC Trust Fund as a security under the Stock OTC category and led prices further, extending the move extremely well near the USD3500 with consistency in volumes. And we shall be carefully watching 'open interest' once a new report would be release for Bitcoin futures made available from the CFTC.  Chart Update: As of Dec 19, 2017 

ETHEREUM - ETHUSD as of Dec 17, 2017

#GBTC Marks Above 1000k as of Nov 25, 2017

While #BITCOIN pauses for a breather between 8354 and 8000 levels #ETHUSD and #BCHUSD are trailing in the same manner and direction with the classic leader.

As mentioned, that a 'TUG of WAR' has emerged from the surging crypto currency market that have taken notice on Wall Street big wigs. Especially so when the soon to open Bitcoin futures takes into center stage led by the #CME. Its going to be a sight to see who among these players on Wall street shines in the opening bell. While the community may just be on the initial sideline with a wait / see attitude. 

May not have gotten the full run on the classic but sure enough the GBTC has managed to outperform our earlier expectation of an exceptional market rally just well within one year.


Price Update: GBTC Above 1200 as of Nov 28, 2017

Reference info: GBTC  market & trade position

'FORKING WALTZ' between BITCOIN & BITCASH

#BCHUSD Benefits As #BTCUSD Drifts on Profit-taking & Alternative Moves

TUG of WAR has just started a DIVERGENT TREND DIRECTION 

The weekend proves to be a 'Forking Waltz' between #BitCoin and #BitCash price divergence in today's price action. The relative decline of Bitcoin below the USD7000 after making a quick stop at 7888 would seem to be the initial trade reaction from the surge of BitCash in the USD1350.00 as of today.

Increasing Volumes on New Trade Entry

The probability of the some traders switching into BitCash is just a fraction of Bitcoins prices, but trading above the USD1000 mark in a relatively rapid pace can still be attributed to the kind of market behavior of spot BTCUSD into the equivalent market. Although, we are anxious enough for the upcoming Bitcoin ETF that would be launch by Power-Shares and BITCOIN Futures by the CME - Chicago Mercantile Exchange and the CBOE - Chicago Board Options Exchange. 

The similarity can still progress into the same volatility at  first but will tame into a better trading scope as the new market would grow  steadily on its own sooner than everyone would expect. And in spite of the fact that some sees the community being divided into their own financial choices. But the way we view this industry would be in a manner of preference on how this should best serve the investor's interest other than the financial objectives set by companies and institutions that makes up the entire industry as a whole.   

   Diminishing Volumes on Profit-taking activity

#BITCOIN Above USD5200 - #ETHUSD 306 Follows:

If you can't beat them, might as well join them! Rumors on China.

This phrase has been what rumors are saying. But it's just rumors until such news can be confirmed. Yet, it only proves that the demand for #BITCOIN #trading would be here to stay as market cap on bitcoin grows with #ETHEREUM coming in on 2nd. Likewise, Bitcoin prices carries a higher degree of premium over the rest of the pack as it maintains is biggest market cap especially at these current prices. And the technical angle where it is now defined with a valid channel as prices continue its upward trajectory.

Eventually, ProShares filing of Bitcoin ETFs will surely add to the legitimacy of the cryptocurrency. And people such as Jaime Dimon would have to contend that the digital currency is here to stay no matter what his views are on the matter. 

Price Update as a result of Market & Price Call

The valid VOLUME and PRICE REVERSAL on the ETHUSD have shown a steady and gradual trend. Part of which is a 'Mid-Price Consolidation well within a symmetrical triangle. Price 'Correlation' with VOLUMES has created an interesting 'DIVERGENCE' where the prices would take a cue from current BITCOIN prices. Obviously, ETHUSD have been lagging behind BTCUSD including the GBTC Investment Trust that tracks Bitcoin prices. 

On Yahoo Finance: #Bitcoin Hits Fresh Record Highs on Rumors of Chinese Ban Reversal 

#BITCOIN Steam Fades from Profit-taking

Choices & Decisions #investing #trading #Digital #Currency

The obvious #BTCUSD run came into an initial wall that saw prices drifting lower at the end of the week's trading above USD4050 from a recent high at 4480.00. Traders and speculative investors have managed to hang-on as demand could be felt from price action movements. And waited until prices marked its high nearest to the USD5000 initial objective which prompted to cashing gains gradually as its continued to drift lower towards the closing week. 

Comparative Charts: #BTCUSD #GBTC #ETHUSD

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