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! 

Managing Record lows from Bitcoin Markets

The Crypto space have been experiencing a lot of backlash of negative events with BITCOIN prices leading the decline alongside the rest of the pack. With its recent registered low at 5921 - Coinbase, comparing prices with BitFinex low at 5910. And at the rate the market is still going, the probability of revisiting the 5511 & 5400 previous low respectively would likely occur, but not without a good fight from each successive session. 

Price volatility increases on the decline from the past three relief recovery after nearly retesting 10000 last May 05, 2018. Failure to breach the 10k mark have led the decline with consistent lower volume and interest as the surrounding negative news have been more influential up until now. 

Meanwhile, after experiencing the overall bearish market performance, traditional & Classic Bitcoin investors who considered hedging in the futures market to cover further risk of loss are in a better position to weather the storm of adverse price swing. And be able to buy enough time to carefully observe market price behavior. 

Being a wise, tactical investor can only best serve their investment interest and  do encourage to make use of what other exchanges has to offer and maximize market potential in both directions. In addition, initial investors who have accepted tokens / other related coins backed by a fractional value from the 5 major digital classes especially from ETHUSD, have to accept the market's current price sentiments for now.

As the tokens offered have been applied as frontline asset class to raise funds as an ICO for their individual companies niche blockchain technology applications in various sectors and industry may have to wait a bit longer to see their investments growth & reward. Although, everyone have their respective reasons for investing and trading.

With that said, price swings in both directions coupled with increase volatility would continue in a downward spiral until such time an encouraging catalyst would emerge in the market that could affect current market sentiments.  The Bitcoin price charts formation has some similarities with UAE's Burj Khalifa structure, so to speak! 


#BITCOIN Classic Overlay #BTCN2018 FUTURES
https://plus.google.com/+JSTAlexander/posts/7VBqYemDTKw

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

#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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