Why I am doing this daily report.
The research and reading I do everyday yields a surprisingly significant amount of information, providing an overview of sentiment, major news details, confluence factors, and insight into our cryptospace.
Due to the encouragement of friends I decided to start making my personal blog, that I had been using to archive this information I aggregate, public.
As a result I've found that by publishing I've been receiving support for the time and effort I spend formatting and sharing out this information.
What is the Daily Dimes?
The Daily Dimes is a publish where I post an aggregate of news information that I come across in the cryptospace every day. There are two sections found below:
- A news bulletin section, where I cover brief descriptions of noteworthy news and developments with sources for further reading.
-and-
- A trading report section, where I release signals and information from my paid memberships, private groups, and personal trades that I'm monitoring, as well as my own market analysis.
Today
- 2 Bulletins
- 1 Update
- 4 Trading Reports
- New York Post published an article calling Bitcoin fake 'currency', citing the drop since it's December ATH as a 70% loss and using this as a suggestive narrative that Bitcoin will drop to zero as it has no actual worth. The writer calls BTC a ponzi scheme, confidence game, and fraud. The articles final claim is that BTC will go to nothing, "It's only a matter of when".
Source
- Thailand is setting up a new fianancial market governing rule specifically converning ICO's, the new rule states that someone wishing to operate an ICO must file for approval with an regulator. The regulators will be ICO portals, which are "online marketplaces where potential ICO organizers can operate their token sales", and these ICO portals will be responsible for screening projects as part of their operation requirements. Screened projects will be passed on to the Thailand SEC and considered via successful application. Source
- Update: 3 Malta Laws that were introduced have been approved by parlaiment, This provides legal certainty for crypto within Malta space. Also comments were made stating that investors would be facilitated now as 'companies have the necessary means to operate in a fully regulated environment.'
Basically this is saying that the Matla gov't is so ok with crypto that it will work with investors now too because it is so sure of it's ability to fully govern crpyto projects within its own space.
Source
Trading Section
- BTC Macro: Still waiting on confirmation on that MACD crossover on the 3day time frame.
Atm I seeing this as some pullback off of the last 6 days of rise.
- BTC Local: Looking at fairly high levels on the StochRSI on the Daily & 12 hours.
I think we'll see some sell period here, and it'll be good to watch how the sell is impacting the price action, so far we're showing some resistance at the 6400 levels again which is middle of the %BB's, if this holds I'd expect a check and some pressure against the upper bands which are currently at ~6900.
- BNB: Fundamentally speaking the recent news with the API hack and Emergency maintanence could be causing an anomoly in the the price action for BNB.
It's happening at a time where I had just reviewed it being at a critical spot for holding inside the wedge it's been forming.
What we're seeing here could be a bunch of stop-losses activating off of the most recent news and people selling the TA, but because it's specifically news related, we could see a mass buy up here since the StockRSI is showing us heavily oversold and the volume isn't confirming this as a solid breakout downward. I'm watching for the a break downward through the 13$ line before I make any final decisions here. If you would like the range I am watching it's $12.90 - $13.15.
- NEO: Neo had some great performance off this last week of green. It's weekly is showing us a confirmation of reversal for at least the short term, off the price action through what's called a
Morning Star pattern which you can read more about here.
With an oversold StochRSI, this pattern, and volume meeting & exceeding it's moving average, I'm looking for a reversal in trend on the higher time frame.
There's a fair chance for some 'cool off' period for it's next weekly candle so if I enter this trade I'll be looking to do it over the next week setting buys from 32$ on up and buying a small stack at spot price in case it doesn't experience any downward pressure immediately.
The green line on the chart represent a long term resist turned support.
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