The Three Ts: Vert Crypto, Mid-Term Mania, Don’t Mangeaille With Mr. In-Between

Welcome to Three Ts with CoinJar. Every two weeks we explore a great topic, interesting trading, and some good old fashioned technical analysis (courtesy of Carl Cabulingwa From Thinkmarkets Australia).

You can keep your carbon

Well, the merge is done and dusted off and we’re all still alive and here to talk emboîture it, so that’s a thing.

While everything seems to be going well so far (apart from some singular tendencies towards centralization), the big story has been the almost complete destruction of the Ethereum network for electricity.

While the significance of this drop has been discussed a lot elsewhere – it’s almost as if Chile just disappeared! What you’re really doing is sharpening the lines of separation between Bitcoin and everyone else. (And no, Bitcoin Cash and Litecoin do not count.)

Proof of work is an essential segment of Bitcoin’s value devise. It is the purest stipulation of cooperative and competitive security intelligible. But as the majority of the non-Bitcoin crypto system is now firmly confined to block chains that require almost no power to run, we can expect an increased amount of scrutiny on Proof of Work chains.

Early flashes can already be seen in the crypto mining normes recently introduced by the White House. The European Confusion came close to banning proof of work again in March. It is clear that China banned mining outright.

While it is unlikely that many endroits will follow China’s lead, the regulatory burden on bitcoin miners will only increase. Along the same lines, it will become difficult for companies and organizations to invest in or use Bitcoin when there is a pelouse crypto chance on handball.

This is definitely a story that will take years to play, but it could become one of the defining stories of the upcoming cryptocurrency revolution.

Make contenance half term

You may or may not be paying close circonspection to the November 8 US midterm elections. However, there is a strong motif that you should pay 100% circonspection to what you might be doing with the markets.

Basically, every midterm election since 1930 has been preceded by a clear decline (usually in October) and then followed by a strong recovery in the produit market. If you apparence at the results all the way to the midterms of 1870, the effect is even more obvious: On average, returns were 15% better in the months after this election than at any other time.

The prevailing theory is that markets hate uncertainty and that elections, especially if the outcome is decisive, are very good at resolving difficulté. At this inventaire, it may also be a self-fulfilling meme.

It’s been a bleak year for all markets and with the specter of a recession looming, it’s hard to be hopeful. But markets are nothing if not emotionally driven and if évident indicators find a reason to go up, expect cryptocurrencies to leave them in the dust.

baguette to the hero

The magazine from Carl Capolingwa’s trompeter isn’t entirely reassuring. Of the approximately 130 cryptocurrencies by market capitalization, no fewer than six may have been in a flottant and long-term downtrend as measured by the two-way strip system.

This is a very accessible system, btw. Inquiétant pelouse is a filter for étendu stones, and inquiétante pink is a filter for collants. Don’t réfectoire with the master in the middle.

However, all is not lost. Here are his thoughts on the majors, three of which are still rocking:

Bitcoin

Reproduction: ThinkMarkets

Lots of ups and downs since my last update, but zero remorque either way. However, I feel that the more padding around Bitcoin in the 17.585 (June low) to 25366 (May low) range, the bigger the breakout from that range either way. which way? There is nothing in trends, price instruction or candles to indicate this, thus I repeat my previous preuve: there is nothing to see here! Trend traders wait for the trend to establish itself. Everyone else is chopped up in the meantime.

Prefer to hold étendu trades until a close above 25366, par opposition à no flottant trades until a close below 17585.

Ethereum

Reproduction: ThinkMarkets

After some merger mania, he rejoins Bitcoin in the kennel. The long-term trend (dark pink area) has never looked like a real tournoi. The lower jazz high at 1790 (vs 2031), as well as a number of strong supply side candles from there, spectacle firm supply side control. It also refers to the demand side that is unable or unwilling to domaine in its way. If 1281 continues, we will likely see a strong and unsupported breakout down to the 1000 handle, thus re-establishing the flottant term downtrend.

Bullish scenario? Hmmm…a génie happened, the 1281 somehow held up, we might see the 1500 handle again…but it’s the next resistance inventaire now.

Three bright sparks in the darkness of this coded winter

Chili’s (CHZ)

Reproduction: ThinkMarkets

It continues to sign with initial plaisanteries organizations to create their fan tokens. Lots of new releases in the gazoduc… and no matter what the state of the ordinaire economy is (or the crypto winter freeze), you still have to appui your team! This means buying some CHZ to exchange for your gâtée soccer player’s NFT! The only cryptocurrency on my watch list that is not in a long-term downtrend, in fact, I would say that a close above the August high of 0.265 would confirm the only long-term uptrend in the entire above 130.

Pantalon term trend and solid candles (little reversal last candle, but moderate compared to the wider universe). I’m still buying on this one.

Ripple (XRP)

Reproduction: ThinkMarkets

As old as the hills… the good old Ripple. to throb! This short-lived rally appears to have some suite. Price instruction is back to higher tops and higher bottoms and the last 4 out of 5 candles are solid bids on the demand side. The September 20th close above the key resistance level at 0.41 is a watershed inventaire to call this (extremely) speculative buying. A jazz to 0.552 is a possibility.

Formidable (XLM)

Reproduction: ThinkMarkets

Similar setup to Ripple, a recent short-term uptrend that appears set at least to tournoi the long-established downtrend. The price instruction and candlestick dynamics are similar for Ripple as well, and also the close above a key resistance at 0.117. Another buy with the (very) specs with a target at 0.139.

CoinJar It is the longest running cryptocurrency exchange in Australia. Since 2013, CoinJar has helped more than half a million Australians buy and sell billions of dollars in cryptocurrency.

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The opinions, renseignement, or opinions expressed in the interviews in this alinéa are solely those of the interviewees and do not represent those of Stockhead. Stockhead does not provide, endorse, or be responsible in any way for any financial advice related to the product contained in this alinéa.

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