Posts by Mr. X
TCV Crypto Alert – Monero (XMR) attempting a bounce, Travala accepts XMR (September 1, 2019)
Market Commentary After breaking down below support at 0.0074 this past week, XMR/BTC made a local low at 0.00690968. Since then, it found some support in the 0.0070 region, and began to bounce upward toward resistance in the 0.0077-0.0082 area, as seen in the 4-hour chart below. Poloniex XMR/BTC 4-hour chart with with breakdown below…
Read MoreTCV Crypto Market Update (August 28, 2019)
Crypto Market Commentary & Outlook The seasonality and overall sentiment of the crypto markets appear to indicate that altcoins may continue to remain under pressure for some time, possibly for several more months. Since rebounding strongly off the lows of $3122 earlier this year, Bitcoin (BTC) has continued to remain in the spotlight and…
Read MoreTCV Crypto Alert – Bitcoin (BTC) bearish price drop (August 16, 2019)
Market Commentary We’ve seen some frustrating conditions for Bitcoin (BTC) bulls over the past week as prices dropped from the recent high of $12,320 down to current levels near $9,850. As seen in the 12-hour linear chart below, prices are still caught in the descending channel and price action appears to be increasingly bearish in…
Read MoreTCV Crypto Market Update (August 8, 2019)
Crypto Market Commentary Venezuela used a crypto wallet app to convert airport tax funds into Bitcoin and avoid economic sanctions It was recently reported that Venezuela used a crypto wallet app to bypass economic sanctions by converting funds received via taxes from its airports into cryptocurrencies including Bitcoin. The cryptocurrency was then reportedly deposited…
Read MoreTCV Crypto Trade Alert – Grin (GRIN) (August 2, 2019)
Market Commentary I am noticing a bullish setup for Grin (GRIN). My trading idea is to buy around current levels with a stop loss order around 0.00031, an initial target around 0.00039, and a secondary target of 0.00045, but if bullish volumes come in, it could go higher. As seen in the chart below, GRIN/BTC…
Read MoreTCV Crypto Alert – Monero (XMR) possible fakeout (July 29, 2019)
Market Commentary Unfortunately for the bulls, it appears that the breakout attempt on XMR/BTC has failed, and price has since fallen back down to the 88.6% Fibonacci retracement level, as seen in the hourly chart below. Poloniex XMR/BTC hourly chart with upside breakout rejected to the downside, and price nearing 88.6% retracement level…
Read MoreTCV Crypto Alert – Monero (XMR) attempting bullish breakout (July 28, 2019)
Market Commentary As I mentioned in the most recent Weekly Crypto Market Update two days ago, XMR/BTC has “a good chance for at least a retest of the 0.009 level” and it appears that this is increasingly likely, based on the recent bullish downtrend line breakout to the upside which just occurred, and more short…
Read MoreTCV Weekly Crypto Market Update (July 26, 2019)
Crypto Market Commentary Fundstrat attends Bakkt Institutional Digital Asset Summit at NYSE, shares update Fundstrat Global Advisors recently attended Bakkt’s Institutional Digital Asset Summit at the New York Stock Exchange, and tweeted a report of some positive news from this meeting with prominent institutional fund managers and analysts. The overall takeaway is that Bakkt’s…
Read MoreTCV Weekly Crypto Market Update (July 16, 2019)
Crypto Market Commentary Cuba considering cryptocurrency to avoid US sanctions Cuba is reportedly studying the use of cryptocurrency to avoid US sanctions. Poloniex adds credit card & bank account connectivity, beneficial for Monero liquidity Crypto exchange Poloniex recently announced they have added credit cards and bank accounts for crypto traders. This is particularly…
Read MoreTCV Crypto Alert – BTC Charging At New Local High (July 9, 2019)
BTC/USD has recently broken the local high of $12,064 after completing an apparent bullish inverse head & shoulders (IH&S) pattern as seen below. It is currently approaching the $13k level on bullish trading volumes, and if it breaks, it will need to need to conquer the next level of resistance at the recent local high…
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