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  • Investing but not making any money?
    on September 25, 2020 at 4:18 pm

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  • CME BTC Futures (BTCU20) expiring in less than 3 hours!
    on September 25, 2020 at 12:20 pm

    CME BTC Futures (BTCU20) expiring in less than 3 hours!

    Also a big options expiry (>$900 million) is to happen today

    Expecting some volatility (right at the expiration time or on Monday)

  • So, now let’s take a look at the current picture
    on September 24, 2020 at 3:25 pm

    So, now let’s take a look at the current picture

    Right now BTC is sitting at a very critical support - the notorious MA128 which is in line with the bottom of the upward channel & horizontal support

    🐂 Bullish bias as long as the price is holding above the support (the bottom of the channel & MA128)

    🐻 If this support cluster breaks, I think there’ll be no much stopping us from reaching 9k area where we have another horizontal level and MA200

  • Did you know about the 128-Day Moving Average?
    on September 24, 2020 at 2:08 pm

    Did you know about the 128-Day Moving Average?

    This is a special MA. Let me show you why

    📌 This particular moving average was derived exclusively for Bitcoin, because it’s been pretty accurate in catching dips and highs throughout the Bitcoin’s history

    It’s close to 20-Week MA or 21-Week EMA, but on the daily scale

  • CryptoBullet (#6868)
    on September 23, 2020 at 7:27 pm

    CryptoBullet (#6868)

    Ideal scenario rarely plays out

    That’s why I outlined the bearish case - breaking down the red line (10360) should have activated your short trade

    And if you did exactly that, you are in the money right now

    What bears wouldn’t like to see is a swift return to 10.5k prices

  • BTC update
    on September 23, 2020 at 5:25 pm

    BTC update

    Last 3 days price action is starting to shape up as an Ascending Triangle

    If this formation resolves to the upside (which is more likely), it’ll face some resistance levels:

    - the first one is around 10650 (near EMA50 on 4h)

    - and more serious second one - 10.8k area. This resistance will be tough because a breakdown of this level triggered the selloff a couple of days ago + EMA200 on 4h is coming there

    💡So, if everything goes as it should, ideal scenario would be a breakout of the Ascending Triangle to the upside, hitting 10.8k and reversing there back to the downside

    ⚠️ However, be ready for a bearish case
    10.3k is a very critical level in that regard

    If it breaks, the price will fall hard and fast. In that case 9k will become very likely

  • Must say though, I am a bit surprised that we are seeing this drop ...
    on September 21, 2020 at 3:23 pm

    Must say though, I am a bit surprised that we are seeing this drop like this, while getting rejected from that obvious resistance zone I mentioned yesterday. Rarely happens that obvious levels play out like this.
    Maybe it’s because of the dollar.

    For now, there is a big support zone around 10.200. Think if that breaks, we should break the lows around 9900 from 2 weeks ago. So the whole scenario I described 2 weeks ago, could play out perfectly. Except of course that we bounced up above 10600/800.

    As mentioned then, idea was still bullish, so make a low around 9500 and bounce up. But, with seeing second corona wave over the world and in combo with EurUsd dropping again, I would not bet on it blindly. But think I mentioned it back then as well, before even thinking of a long position, first wait for a first big bounce up, then getting in at the retest.

  • Looking good 😃 , crypto, metals and US stock market are having a hard ...
    on September 21, 2020 at 3:17 pm

    Looking good 😃 , crypto, metals and US stock market are having a hard time, but a lot of it also comes because of the EUR/USD drop. Thing now is, there is a possible top formation here. Good chance, that when 1.17ish breaks, it should drop another 2/4%. If that happens, big chance it will drag everything else (that is traded in US dollars) down with it

  • Added an extra line for eth, just made a decent drop, but still above ...
    on September 20, 2020 at 12:55 pm

    Added an extra line for eth, just made a decent drop, but still above that trend line of the triangle. Seen these shapes before. 3 things can happen. 1:, we drop below 370 within a day straight to 360 or lower, most bearish version. 2: we move in that channel, crawl against support then after like 2/4 days or so, it bounces up and breaks 380 and rallies more. 3: similar as 2, but each attempt to toch the high of the channel gets sold with lower highs and then eventually drop. So, if we don’t drop more within a day, might as well take the side line and wait

  • Botje11 (#4066)
    on September 20, 2020 at 9:25 am

    Botje11 (#4066)

    Triangle of eth I showed week ago, so far it has only been a slow move towards that 400, so based on that, also why I am bit more bearish than bullish. With of course the levels I just mentioned in the previous messag

What Is Cardano ?

What is Cardano SL?
Cardano SL is also known as Cardano Settlement Layer and this is a cryptographic currency created and advanced by IOHK in collaboration with three universities – those of Edinburgh, of Athens and of Connecticut. Cardano SL is based on the white paper written by Aggelos Kiayias, Bernardo David, Alexander Russell and Roman Oliynykov.

Cardano SL is similar to Bitcoin, however it offers the freedom of fixing the design flaws of the later.

What Makes Cardano SL Special?
As mentioned, Bitcoin and Cardano SL are very much alike, however there are things setting them apart as well. One major difference is that the former is a proof of work type of cryptocurrency while the later uses a proof of stake to reach the agreement. This approach strengthens users’ honesty and participation for the long term.

Purpose of a Consensus Algorithm
To have an updated state of the ledger, consensus algorithms are needed since they produce new transactions blocks. All new blocks of transaction must be published and they need a proof of merit attached. It is the node running the cryptocurrency protocol that publishes the block of transaction. Let’s talk about two types of proofs that are possible.

Proof of Work and Mining
The most common general agreement algorithm type for the cryptocoins is the proof of work. This type of proof was created for Bitcoin and this is how Bitcoin still functions. The computer has to solve a test to create proof of work. The test is a problem that is difficult to find an answer to, however once it is found, it is easy to check it. When the answer is found by the computer on the proof of work network, it publishes it along with any transactions it observed during the time it worked to solve the problem. Its owner will collect transaction fees and a recompense because a block was generated. This whole action is referred to as mining. Mining uses a lot of energy that in turn is ever increasing, which in turn also leads to a lot of competition.