Good morning traders! Backbone of the week is broken, let's take a look at the spinning world around us.
Apparently, one of the biggest crypto-mining exchanges, NiceHash, was hacked and according to various reports, $50-60 mil worth of customer funds disappeared. That's approx 4000 Bitcoins, but if BTC price keeps rising it will be only about 1 Bitcoin by 2020 and John McAfee doesn't have to eat his dick.
Read the NiceHash official press release here on Reddit, as their website is in "maintenance mode" at the time of writing this post.
Whalecalls just published a Q & A on the upcoming Bitcoin futures, on medium.com. If you're looking for info, like possible leverage, tick size, safeguards (circuit breakers) trading hours (did you know, you can't trade futs on weekends?) etc, then head on medium.com to catch up on the article.
Via medium.com
Seeing signs of Bitcoin going more and more mainstream. And when enough new traders have bought the top, we will correct. For example, these headlines spun by Bloomberg and other major news agencies, while they are just stating the fact, serve also as a lure for easy wealth-seekers, hoping to jump on the train.
Keep going...
Via CNBC
Keep going still...
This next one is a big surprise for me. A poll apparently run by Ron Paul (US politician) demostrated that people would rather safekeep their investments in Bitcoin, than gold.
Ronnie Stoeferle, CMT via Twitter
BTCUSD weekly candle has surpassed last weeks candle in size, so we are going really parabolic here. Maybe the coming of futures will give us the dip we have been waiting for to ride it to 20K?
Finally a Bitcoin chart we can relate to :) This one comes from timvandevall.com via Stocktwits
Also, a full explanation to CryptoKitties, for the ones who are still confused. Easy to read and understand. Thanks, Oscar D Torson! Catch up here on medium.com
What am i looking at?
First, i am not charting Bitcoin, because it has got to a phase, where tech studies can be thrown out of the window. There are some parabolic studies and methods to measure potential targets, but I'll just keep to the background on BTC.
XAUUSD. Gold last stand failed. Friday's NFP (Non-Farm Payrolls) is probably a key driver, whether we post a reversal candle after a fake breakout or slip lower towards the low 1200s.
EURUSD is showing a massive bullflag on daily.....
... and if you squint hard, one can be seen on H4 as well. Trade the levels, enter only where you can place a tight stoploss on this, is my case. The bull flags won't mean anything when it dumps hard and takes your account with it.
Then again, AUDUSD is showing some kind of a bearflag with RSI a little hesitant. Best scenario would be break down, one more low on RSI and rip. As the carry trade is disappearing (no positive swap hence no will to hold), i don't want to jump the gun too early. Not sure what to do with this yet, but keeping eyes on this
UPDATE for AUDUSD. As i printed the chart yesterday, we have already broke down of the bearflag. Why i am pointing this out? We have strong support coming soon and should commodities get their footing, one must consider, is it really worth shorting AUDUSD down here.
That's it for this time, thank you for reading. Feel free to share your opinions on the matters in the comment section
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