Some time ago, I put forward an argument about Bitcoin hitting the $6500 mark. I wrote about it in a blog titled "Bitcoin: Brace for Another Price Fall" on the 18th of September. I have brought this up because of what I wrote on that day. The graph below will illustrate this point perfectly. As is seen, the $9532 price level is supported. That support was tested four times before the eventual price fall. A support or resistance level tested three or four times almost always signals a fall or rise in price.
In this case, might we assume the same is about to happen once more? I ask you once more to observe the graph below:
Bitcoin price is in consolidation with the $6616 level tested twice already. Let us not forget that volatility is quite mild considering as you can see on with the Bollinger Bands. The price trend is also weakly-bullish as the price is beneath the Cloud and the Chikou Span entangled with the price. This entanglement means that the price levels are acting as a resistance to the overall trend. Besides, the Chikou Span is considered bearish as it is below the price of 26 days ago.
The reasons above indicate that the $6616 price will be tested again. If a test occurs for the third and fourth time, we may see a drop in price to levels such as $5500. As to what price we should expect, your guess is as good as mine.
I must admit that I should have written this piece over a week ago but didn’t. Bitcoin has once again stunned many people with its surprise move a little while ago. I began to wonder if the price had bottomed out. This could only mean one thing, a look at the charts. Many of you may recall that I have mentioned looking at the higher timeframe charts, in this case, the weekly charts with the assistance of some moving averages.
A look at the BTC: USD weekly chart from Bitfinex indicates that there is a high probability that Bitcoin has bottomed. The reason for this is that Bitcoin’s last two weekly prices ranges closed above the 21-weekly EMA (Exponential Moving Average). So far this week has closed above the 21-weekly EMA. As I have said in the past once price closes above the 21-weekly average on two consecutive occasions, then it is most likely that the price will rise. The second condition is for price to stay above the prior low which was $7333.40. If these two conditions are maintained then this means that the buyers and bulls are in control.
We must not fail to mention that the price is also above the 55-weekly moving average. Falling below this average means falling below the previous low. If this happens, then the bears and sellers are in control, which could mean a price fall. Bitcoin volatility comes as no surprise hence, massive price rises and falls. No one can say when and how this will happen but then your guess is as good as mine.
As stated yesterday, the audio experiment continues. This continues with the discussion of what we want to happen within Nosa Capital in the near future. The discussion comprises the following:
Intro Music by Onra - Will I See You Again?
Nosa Capital claims no copyright to this music
It is now official people, Google+ has come to an end. I really did enjoy using that platform but just as many did not. I kind of feel sad about that because I started using the platform from its inception. This was a platform that wasn’t Facebook. I am not a fan of Facebook but they are still here! I have spent the last few weeks looking for a new home. Some have suggested Mastodon and others Diaspora. Nosa Capital will go on using Minds as our alternative. We have been using Minds intermittently but now have to get serious as our alternative. A look at other platforms will also continue. Perhaps a better alternative would be to create our own platform, this way no one can shut us down.
You may have noticed that I posted only one blog piece the whole month of March. The reason was because of an upcoming book. It is about eighty percent finished with a couple of chapters to go. As you all understand, there is also a thing called editing to do as well. I will endeavor to publish something every week this month.
Curating the Flipboard magazines has also continued. I have said in posts past that most of the stories of interest will be curated in the magazines with very few posts on Twitter.
Finally, since things crypto are heating up, we are looking to have our very own crypto index and eventually have a cryptocurrency hedge fund. There is still a lot to do but we will eventually attain this objective. Please stay tuned, we will keep you posted.
The following blog piece is not financial advice nor is it encouragement to buy crypto assets of any kind. This is strictly for educational purposes. You have to be careful with your hard-earned money, in other words, do your due diligence before making any investment at all.
Those who have read my earlier blog pieces will remember that I have mentioned the 200-weekly moving average (200-wma). You may have noticed that I have not done one of these blogs in a while. The main reason was Bitcoin’s sideways price movement. A close watch was required, especially for breakouts to a bullish pattern.
Bitcoin Price with 200-Weekly Moving Average
One of the ways to keep a more critical eye on the price movement is via the 200-wma. Historically and statistically, markets have been known to bottom at the 200-wma. It is the same for crypto markets. Bitcoin’s previous low of $3238 – on the Bitfinex chart – may be tested once more. If that happens and $3238 becomes the support level, then the downward price pattern may come to an end. If this is the case, a bullish pattern may then follow. Having said that, the 200-wma is one of the easiest and quickest ways to keep an eye on the future price movement of Bitcoin. As is always the case, we can never tell what might actually happen, but then again, your guess is as good as mine.
A short while ago I dropped a line about seeing how the price of Bitcoin moved closer to the 200-weekly moving average (WMA) as being an indicator of what might happen to its’ (Bitcoin) price. The significant detail to notice here is whether the Bitcoin price crosses the 200 WMA and if or when it does what to anticipate. Looking closely at the Bitcoin weekly chart, we can determine that on several occasions the price had touched the 200 WMA. As of this day, the 200 WMA is at $3276. 8. The price of Bitcoin at the time of writing was $3707. Although the price of Bitcoin has not fallen to the 200 WMA price, it is quite close considering the cryptocurrency’s volatility. With a difference of just under $500, we all hold our collective breaths to see if this happens.
Chart courtesy of investing.com
We must all recall one thing, statistically, if the price goes down and closes below the 200 WMA, then the odds of a downturn increase substantially. As is known, this is not strictly true when taking the markets (any market) into consideration. The cause is simple, markets (any market) do what they want, regardless of what we desire. Even if the price of Bitcoin hits the 200 WMA line, it may bounce off to a higher price, and maybe even be the start of a new bull market. All we can do is to wait and see, but then again, your guess is as good as mine.
This is something I should have done a while ago, and that is mention we have been on Steemit for a little while. I remember like it was yesterday. The day was very warm and sunny and I had just seen someone (can't recall the name) on YouTube extol the virtues of Steemit. I immediately checked it out and then tried it. I got a response almost immediately through the impending payouts. The money was in the cents but satisfying nonetheless.
Anyway, just thought I should mention it and if you find yourself on the Steemit platform, check us out. By the way, we only post on Sundays' and no other day.
Here we are on Steemit: https://steemit.com/@nosacapital
In this blog we are going to talk about what has been changed and things to come in the future. As seen on our home page, a lot of the original widgets have been changed. First, there is now the opportunity for anyone to buy cryptocurrencies directly from our site. Our fiat currency widget has also been updated with a much cleaner interface. In addition, a heat map widget has been included to give a visual pulse of the currency markets.
We are still advertising to those who want to mine in a simple manner to download the Minergate app from the link on our site. We implore you to do so as this helps us bring more content to the site. You may notice that when you arrive at our home, exchange, or blog pages you will see a banner appears at the bottom of the page. This banner informs you that the site is also monetized by mining cryptocurrencies. You have the choice to turn it off so none of your resources are ever used.
There are a few more cryptocurrency widgets have not only have live prices but also the current market cap of the currencies. More will be added within the next few weeks.
On our exchange page, you will not only see the exchange widget but also a cryptocurrency stock screener. As always, do your due diligence to ensure that you pick correctly and securely. While we would love you to buy cryptos through us, we are not financial advisers and give no financial advice. Do not risk money you cannot afford to lose.
Looking into the future, we hope to have a fully-fledged exchange platform operating on our site. So far, we have favoured the Changelly platform. This is because it is easy to integrate into any website and very easy to use by customers. It must be said that there may be a better option in the future. We reserve that right to select the best option for our clients.
Finally, we would like to keep the content on this site free. Nevertheless, we realise that in order to survive a way of earning income to keep operations moving is required. We will publish our crypto addresses for any donations you may believe we deserve. We hope that our content will be interesting enough for you to help. Thank you.
Compliments of the season to all. I hope 2018 will be a more interesting year. I must start by apologising to all my Twitter followers as I have not been posting as regularly as I used to. I must say I have let a lot of good stories slip through my fingers and as such not get a curation.
Work matters aside, I have not had the best of health in recent times. In addition, I need to reorganize my blog space to write more regularly. Now is the time for me to get back to “writing ways”. I had wanted to have a separate blog for myself and one for my firm. On reflection, I decided it was best to have all future blog posts in one place. Since I am going to be doing a lot of the posting, I might as well post mine (blog posts) in the same place
With that settled, I can now concentrate on the matter of what I will be posting. I have found myself working on cryptocurrencies when not doing any project finance. There have quite a few requests to do research on some particular cryptos which I intend to honour. There may be a smattering of politics and as much economics I can mention whenever appropriate. In fact, economics might come in as full blogs but that will be determined as time goes on.
My ultimate intention is to leave matters social media behind and concentrate on finance, cryptos, economics, and to a lesser extent trading. I am still active on Twitter but not so much on my personal page. I am, however, very active on the Nosa Capital Twitter page. There is also a lot activity on the Nosa Capital Steemit page. I would like to know what you my followers think. Would you be happy if I start posting things on cryptos and economics on my personal page? Or should I keep it strictly social media? I will put a poll on both my Twitter page and website for your response.
My intention is to do more cryptocurrency research. I want to understand details about requested cryptocurrencies and write reports that even a novice can read. These reports will be put on the website to download for free. I can’t help thinking of the words of Dmitry Orlov though in his latest blog piece titled “Cryptomania”. Please note that bitcoin/cryptocurrency lovers might not enjoy the following statement:
“Bitcoin’s one useful property is that at the moment numerous people around the world are willing to treat it as valuable. But what if they are all idiots? Is it your theory that lots of people can’t be idiots all at once because there’s, you know… a lot of them? That’s not a theory—that’s a hypothesis, and it’s been disproven countless times. Yes, indeed, large groups of people can and sometimes do behave like idiots.”
This now begs the question, what if we really are all idiots?
For the record, I will continue to investigate cryptos regardless of what people like Dmitry Orlov say, expect to see my first report in a few weeks. Till then, adios amigos.
So what would you like to see on my Twitter Account - only Social Media tweets or Cryptocurrencies + Others. You decide, please vote on the Poll below:
Swap your cryptos here:
Nosa Capital concentrates its' expertise in Strategy, Business Development, Project Management, Project Finance, Trending, and now cryptocurrencies