ARK ETH 10-may-2018

Ark looking bearish against ethereum right now.

Probably wait for a better entry

ark-eth-10-may-2018

Advertisements

Bitcoin Dominance

Just got to know this index called the bitcoin dominance index.

  1. For the most part of its existence it was hovering at 80 plus % with only slight decline.
  2. It broke out of the gradual declining slope at around June 2017 and this coincides with Ethereum and Alt coins gaining dominance around the same periods.
  3. What is worth noting is that after breaking down, it went to to the previous support, the 4th lower low and this became resistance. At this point, it had a higher high and a higher low which looks like a breakout
  4. However the breakout was short lived as it was what in TA we consider as a false breakout. It went on to create lower highs and lower lows after the false breakout.

bitcoin dominance

 

btc dominance zoom in

Black arrow zoom in on Total Market Cap

mar-2017 to jun-2017

Black arrow zoom in on BTC Price

mar-2017 to jun-2017 - btc price

Summary on black arrow : BTC and Market cap was both rising when its dominance crashed. Haha this looks like some risk on when playing FX.

 

Green arrow zoom in on both total market cap and btc price

july-2017 todec-2017 - btc price

Summary on green arrow : BTC price and market cap was both increasing. However this increase caused the BTC dominance to crash

Red arrow zoomed in on BTC price and total market cap

Dec-2017 tojan-2018 - btc price

Summary on red arrow : BTC price and market cap was both sideways. However this increase caused the BTC dominance to crash

 

Summary :

  1. BTC dominance takes a long time to build up but just a short while to crash
  2. There is no reason of why the dominance crashed as all 3 scenarios are kinda random in nature
  3. When sideways price is causing the dominance to crash it might mean one thing. It’s freaking risk on and people are feeling lucky to roll the dice at the casino.
  4. Overall the trend is lower. Based on this dominance chart, it makes sense to reduce your BTC, however the crypto market is full of black swans, there is a high chance this statement will not hold for long.
  5. BTC dominance hit previous support and it became resistance and crashed down. Will it be likely that was due to “old minds” still hanging onto the belief that BTC is still king and wanted to make a quick punt? As the crash down was too rapid.

Only time can tell. Lets analyse and stay tune.

Neo / Gas Ratio Analysis

Gas to neo ratio has been on a downward trend, making lower lows and lower highs until recently where it broke out of the lower high. Judging from the almost similar low, it is poised to go to either a sideways of a breakout trade.

gas to neo ratio

There were a few instances where gas price hit 90% -102% of neo price.

gas anomaly price

Lets try finding out in august, september and october what was causing the spike in gas price.

August 

Gas listed in binance

https://cryptocoinmastery.com/the-price-of-neo-gas/

September / October

Palm beach report on Gas being the most undervalued crypto

https://steemit.com/cryptocurrency/@jzeal/why-you-should-be-buying-gas-palm-beach-confidential-update

These both are very black swan events and are unlikely to reoccur, so the odds of it hitting 1-1 to Neo for these exact 2 events are very low. However as crypto is a very black swan market, it is safe to say that it is damn possible for them to cook up another story of how Gas is damn useful etc……

Now for the purists who prefer the neo to gas chart

neo to gas

View story at Medium.com

View story at Medium.com

View story at Medium.com

View story at Medium.com

View story at Medium.com

Trade 2 : 24-04-2018 – OMG

Entered OMG @ 0.025

With the Trendline, 55 ma and fibonacci 50% converging at 0.0232, I got in a bit too early at 0.025, Still much to learn.

OMG : above 55 MA : 1

MA8 cutover MA 21 : 1

MA8 sloping downwards : -1

MA 21 uptrend :1

RSI at 49 : slight bullish : 1/2

Score : 2.5/5omg-eth

Possible setups

 

Dash/Eth

I love this type of convergence of all the MA

Fibonacci 19.1% @ 0.61

RSI at 51

Potential of 1:4 upside for this

Small trade : Possible setup to get in a 0.25 dash to get a gain of  1 ether from it.dsh-eth

DGD

Broken down trendline with a weak RSI at 32.

All the MA cutover looks quite bearish. Will probably wait for more confirmation for this.  Technically looks not bullish. If I have a position I will close it back to Ether.

dgd-eth

Trade 1 : 21-04-2018

Long ether at 620

Now looking at different charts with Ether as the base

bnb-eth

BNB : above 55 MA : 1

MA8 cutover MA 21 : -1

MA8 sloping downwards : -1

MA 21 sloping stable from downtrend :0

RSI at 43 : neutral : 0

Score : -1/5

omg-eth

OMG : above 55 MA : 1

MA8 cutover MA 21 : 1

MA8 sloping neutral : 0

MA 21 sloping uptrend :1

RSI at 52 : strong: 1

Score : 4/5 – However the candles doesn’t looks good. 3 black crows. Now awaiting to see if there is a support at 0.023698

ark-eth

ARK : above 55 MA : 0 – Due to the MA all converging, can’t see much from these

MA8 cutover MA 21 : 0 – Due to the MA all converging, can’t see much from these

MA8 sloping neutral : 0 – Due to the MA all converging, can’t see much from these

MA 21 sloping uptrend : 0 – Due to the MA all converging, can’t see much from these

RSI at 45 : Neutral: 0

Score : 0/5 – Best for playing a sideways trade.

Possible setup : Long at 0.004

Trade 1 : 3 charts – 20-April-2018

btc-usdt

BTC : yet to cross 55 MA : 0

MA8 cutover MA 21 : 1

MA8 sloping upwards : 1

MA 21 sloping stable from downtrend :0

Bottom at around 6500  ; TP at around : 1100 ; SL :TP 2000:2500 – More than 1

RSI at 50plus : quite strong : 1

Score : 3/5

eth-usdt

ETH : cross 55 MA : 1

MA8 cutover MA 21 : 1

MA8 sloping upwards : 1

MA 21 sloping upwards : 1

Bottom at around 380  ; TP at around : 880 ; SL :TP 200 : 300 – More than 1

RSI at 60plus : quite strong : 1

Score : 5/5

 

ltc-usdt

LTC : yet to cross 55 MA : 0

MA8 cutover MA 21 : 1

MA8 sloping upwards : 1

MA 21 sloping stable from downtrend :0

Bottom at around 100  ; TP at around : 210 ; SL :TP 50:60 – More than 1

RSI at 50plus : quite strong : 1

Score : 3/5

Logical choice would be to trade ETHER.

OMG

Changing a bit of my style from previous analysis. using MA as a gauge to see if we can play long term or not.

Above MA 8 : Yes+ 1

Above MA 21 : Yes + 1

Above MA 55 : No +0

Above trend line : Yes but only barely : 0

Can only play short term .

RSI : 66 + 1

STO : 70 – 1

 

omg rsi sto

Score : 2/6