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On today's edition of "Drawing Lines on a Chart", let's look at Bitcoin's narrowing range and the key support and resistance areas. Bitcoin is currently forming a flag pattern as recent ranges begin to narrow. This pattern is typically broken decisively in one direction or the other. A move higher would require three 4 hour candles above 13,000 while a move...

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While we aren't in the business of picking bottoms, it's interesting to note that the Bitcoin Cash algorithm (the program that runs the Bitcoin Cash protocol) had a -72% difficulty adjustment in the past 24 hours. This makes it easier for miners to mine new blocks and increases the speed at which blocks are mined, increasing the odds that a miner will mine a new...

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Bitcoin touches 61% Fib retracement level here at $3500 (red line). Technical analysts have noted a mathematical relationship between past and future price moves based on the Fibonacci series, a sequence of numbers in which each number is the sum of the two preceding ones. This “golden ratio” is seen throughout the natural world in plant growth, astronomical...

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Monero Recent Price: $113.70 Market Cap: $1,713,793 30-Day Return: 142.28% Whitepaper: downloads.getmonero.org Monero uses an innovative “Cryptonote” algorithm to ensure that transactions are private and untraceable. This means that transactions on the Monero blockchain cannot be linked to a particular user, something not many other cryptocurrencies can...

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Syscoin Recent Price: $0.29 Market Cap: $157,295,000 30-Day Return: 120.54% Whitepaper: whitepaper.syscoin.org Syscoin bills itself as the “Swiss Army Knife of cryptocurrency platforms”, claiming to offer “near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data...

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Nexus Recent Price: $3.22 Market Cap: $172,861,000 30-Day Return: 90.1% Whitepaper: ico.nexus.social Nexus is building a decentralized social network that focuses on privacy, control of settings and security. Think Facebook, but with no central organization to store and data mining your photos, updates, locations, and conversations (among other things). In Q3,...

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It's tough to even apply Fib extensions here because Litecoin is running right through them, and there haven't really been swing lows. Here's a short primer: Trend-based Fibonacci Extensions use past price behavior to establish price targets and potential reversal areas. They can be a guide for unchartered territory at new highs and new lows. Remember, these...

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Using a simple trend-based Fib extension to identify levels of resistance as Bitcoin breaks higher.

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The 16th largest coin by market cap is showing strong momentum and breaking above resistance. Buy at 160k sats, target, sell target 200k sats. STRAT's goal is to be be the one-stop shop for all things blockchain, essentially a Blockchain As A Service (BAAS) platform. Recently, Microsoft noted them the highest level support.

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SPY has formed a head and shoulders by failing to rally to previous high. Next stop $240.

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Ethereum's dip was as shallow as bitcoin's and that gives it room to play catch up.

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Any market’s strength can be determined by analyzing the dip. If dips are shallow and short, that’s an indication of buyers eagerly waiting to commit new money to any pullback. If the dip isn’t quickly bought, that’s a warning sign of an impending correction and sharper pullback. On Tuesday, Bitcoin staged a roughly 15% dip from $4400 to $3800. The dip...

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In January 2000, AOL announced a merger with Time Warner. This is largely regarded as the peak of the dotcom bubble. The Nasdaq fell 78% in the next 30 months. Keep this in mind when buying and holding crypto. "History doesn't repeat itself, but it does rhyme."

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It's now gone parabolic. Scaling out up here...

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VVIX measures the volatility of volatility. It's an expected move in volatility, which is an expected move in stocks. Thus, it is another layer of looking at the market Last time VVIX traded above 120 was during Brexit in June 2016. This is extreme fear!

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The XLF was off to the races this morning as the longer-dated maturities of the yield curve sold off, increasing the spread captured by banks who borrow-short and lend-long. In the middle of the day a key reversal occurred, setting us up for a bearish engulfing candle. This chart pattern is a rally above the previous day's high and a close below the previous...

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Car & Driver called it the "most important car of the century". The stock just retook its 50 day moving average and is off to the races. Electric Vehicles (EV's) will replace Internal Combustion Engines (ICE's) sooner than the market expects. This is now a virtuous cycle - more Model 3's sold leads to more money invested in batteries leads to cheaper costs to...

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Waves allows anyone to create their own custom blockchain token in a few minutes- which means anyone can create digital value at their fingertips. It recently double-bottomed at the May breakout point and now looks set to move higher.