Market Outlook - 27/05/2021

 Introduction 

In this blog post we will see what is happening on the BTC charts and end up with some conclusions about further price action. It seems that BTC is going to consolidate for the next couple of weeks. There is an accumulation zone created by the whales between 35k and 42k. Dont forget that Elon bought at 35k and therefore it is not going to go below that (whales never lose money). 

Elon's tweets that were partially responsible for the dump range from claims of negative externalities from energy consumption,  to claims that 10x faster and larger blocks on Dogecoin are a viable alternative. Unfortunately, this has lead to widespread confusion in markets, although for many Bitcoin HODLers, this is just another day in the office.

Below we can see the percentage in entities in profit from March 2020:

Note: The states say it all.

BTC Microscopic Outlook

Below we can see the 4hr BTC chart:

Note:  ABove we can see that BTC is rejecting mini head and shoulder reversal pattern. 

Below we can see the same chart with some resistance and support lines:

Note: Above we can see that there is a drop on the volume, which can be an indecator that BTC is going to continue consolidating. Also in a MACD we get a potential reversal, but in RSI is not clear.

Below we can see the 1d BTC chart:

Note: Above we can see that on the daily chart we are still bearish.

Below we can see the 1d BTC chart:

Note: We can see now that BTC a moving range of 12% (meaning consolidating in -+12% range, were we can trade). Also is below the 21 EMA , which seems to act as some king of strong resistance. If BTC breaks the 21 EMA thet we would expect a significant upward movement. 

BTC Macroscopic Outlook

Below we can see that the BTC NUPL is reset for good and that the BTC price and reserve is also droping together, which make it easy to understand that the price drop was purely manipulated.

Below we can see the NUPL from Glassnode:

Note: As we can see there has been a very good reset in the BTC NUPL chart. What does that mean is that the BTC bull run broke into 2x mini Bull runs and a mini Bear market, which will suppress the annual global top.

Below we can see the aSOPR from Glassnode:

Note: Above we can see that 35k might actually be the global (annual) bottom. We can also see from the chart that this deep could not be predicted by the aSOPR at all (aSOPR usually gives you a notification from 7 to 2 days earlier). BTC DIP WAS COMPLETELY UNNATURAL, THE BTC FUNDAMENTALS DID NOT CHANGE AT ALL AND THE DUMP IS NOT JUSTIFIED. 

Below we can see the BTC reserves:

Note: Again the macros did not change at all.

Below we can see the BTC netflow:

Note: Above we can see that the inflow increased dramatically to push the price lower.

Conclusion

We hit the bottom:

Note: We can see her the volume level is similar.

References:

• insights glassnode [1]
  

Market Outlook - 13/05/2021

Introduction 

In this post we will examine the current situation in the market, and why it happens what is happens.

Bitcoin

The weekly chart of BTC touched the 21 week EMA:

Note: This usually happens in BTC when an imminent reversal is in place. Both MACD and RSI also showing a reversal! From the chart we can see that the movement is not natural, happens due to coordinated manipulation. Just bear in mind that in my previous posts I did explain what are the indicators that designate the end of the bull market please see here.

The weekly chart of BTC touched the 21 week EMA back in 2018:

Note: BTC movement below the 21 weekly EMA is is an indicator of bearish movement. 

The support lines for the BTC can be shown below:

Below we can see the FB retracement:

Note: The 1st strong support line was 47k, the 2nd strong support line is 35k and the last is 18k.

Cardano

Below we can see the weekly FB ret for ADA: 

Note: ADA has a strong 1.2$ support line. Also has a lot of bullishness and the FB not is at 3.1$. Both RSI and MACD look good.

Ethereum

The ETH looks like that now:

Note: No comments about the chart. it is just beautiful 

BNB The big winner

This is how BNB looks:

Note: No comments, it seems only BTC from the top 10 was affected for the long run.

The Nftify Token

Introduction 

The NFTify team following the popular narrative on NFTs created NFTify. This is an interesting token  NFTify allows businesses to create their own NFT store without coding; helps NFT authors issue NFT easily and detect fake/similar content for copyright protection purposes; provides NFT collectors with a platform to transact at a much lower cost.

 

NFTify’s main features:

• Based on Substrate
• Copy write protection
• Permission less shop creation
• Cross Chain
• Zero Coding
• Low Fees  
  

What attracted me to NFTifyis that:

• It does not require developers to join the chain, and therefore increases adaptation easy
  
• Provides copy write protection, and therefore protects the users from copy theft
• It is chain is permissiveness and has interoperability 
  

The use case of the project is solid, if you ask me. But do your own research before continue reading, by checking out the following links:

• Nftify official twitter
• Nftify official telegram 
• news.nftify.network
• NFTify facebook  
• Nftify Whitepaper
• Nftify youtube 
  

Please feel free to do your own research, using the link above.

Social Presence 

The has a good social presence with multiple AMA from the team members:

• Twitter 1,441 Followers
• Telegram 5442 members, 403 online
• Facebook 24 people follow  
• Youtube resources 1,934 views (of the most popular video)
  

In the social media the team is organizing frequent AMA and make sure they answer all the users questions. There is not Linkedin profile for the company, as it is a bit too early stage of the project.

 

Partners

Below we can see the Nftify partners:

 

 Note: Above we can see that there are some really interesting partners.

Platform

The whitepaper provided is more of a lightpaper, as it explains some rather basic concepts for the experienced crypto investor. Although again the narratives are very popular for the current bull market 

 

This is how the NFTiFY platform looks like:

 

Note:The platform is using AI to for copy write protection and makes use of the polkadot parachain. The narrative and the technology is good.

Roadmap

 The roadmap looks decent and reasonable. The roadmap of the project can be seen below:

 

Tokenomics 

Below we can see some of the tokenomics (token allocation) for the project: 

 

Below we can see some of the tokenomics (token release) for the project: 

 

References:

• nftify.network [1]

Market Outlook - 01/05/2021

 

 Introduction 

In this blog post we are going to do some analysis on ETH short term movements, and what trades to open on ETH. It seems that ETH nowadays is  a better choice to trade than BTC. This is due to the fact that ETH usually keeps retesting again and again its ATH and therefore this is an opportunity for us to make some gains.

 

Below we can see the daily chart of ETHUSDT in Binance:

 

Note: Above we can see that ETH from 21 Feb 2021 keeps on bouncing in the daily EMA Ribbon and hitting ATHs  after 14th of April (when the miner conflict seemed to be resolved and the Berlin upgrade took place). This is a good setup because we can make multiple gain by trading the ATH resistance retests. The method to use is simply keep on buying below the retest line and selling on the ATH, while using leverage. 

Below we can see the daily chart of ETHBTC in Binance:

 

Note: Above we can see that ETHBTC does not look so good and it seems that it will consolidate for a while before the next ATH.

 

 

 Below we can see the daily chart of ETHBTC in Kraken:

 

 Note: Bare in mind that there are critical variations on the price movement between exchanges.