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Bitcoin Flashes Wyckoff ‘Sign of Strength’ Hinting at New Bull Market

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Bitcoin Flashes Wyckoff ‘Sign of Strength’ Hinting at New Bull Market

Bitcoin (BTC) may have just signaled its return to a bull market, according to fresh analysis using a century-old price prediction method.

In a tweet on Jan. 7, ex-Goldman Sachs analyst Murad Mahmudov channeled the work of Richard Wyckoff to suggest Bitcoin was in the process of a major recovery. 

BTC puts in Wyckoff “SOS”

BTC/USD cracked resistance at $7,600 on Monday, surprising punters who considered the levels too difficult to pass under current conditions. At press time, the pair traded at $7,875, having reached $7,980 and gaining 5% on the day.

Wyckoff was the father of a whole new method of analyzing price performance, dubbed the Wyckoff Method. According to Mahmudov, who uploaded a chart to demonstrate Bitcoin’s position, the largest cryptocurrency has already put in a bottom.

Tuesday’s spike to near $8,000, for example, was an “SOS” point for BTC/USD in Wyckoff terms. SOS stands for “sign of strength,” and typically follows a so-called “spring” event which sees a price low point. 

After the SOS, a slight retracement called a “back-up” should precede further gains, according to the model. 

Bitcoin price as analyzed using the Wyckoff Method

Bitcoin price as analyzed using the Wyckoff Method. Source: Murad Mahmudov/ Twitter

Accumulation phase ending?

Mahmudov did not comment on the extent to which he personally believed in the validity of the bull scenario, which would reverse a general downtrend for Bitcoin that began in June after reaching nearly $14,000. 

Following a late October bounce to $9,500, BTC/USD appeared to bottom out at $6,400 in mid-December, but not everyone is convinced that the floor has come and gone

In the run-up to Bitcoin’s block reward halving in May, another historically accurate price model, Stock-to-Flow, calls for a price of around $8,300.

Mahmudov is well known for his highly optimistic views on where the Bitcoin price is heading. In August, he said accumulation — also the overarching term for Bitcoin’s current Wyckoff phase — was already happening.

“Don’t try to outsmart yourself on short timeframes, zoom out & think big. In my view, BTC is going to $100K per orangecoin,” he summarized at the time.

Published at Tue, 07 Jan 2020 10:38:00 +0000

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Crypto Price Analysis: BTC, ETH, ADA, DOGE, BNB, LTC, UNI, XRP, BCH, DOT

Affected by the recent plunge in the market, here is the crypto price analysis of BTC, ADA, ETH, BNB, LTC, DOT, BCH, XRP, and DOGE.

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In the recent downfall of the market, it has been witnessed that the traders are less interested in purchasing BTC at current levels and this suggests that there could be more selling in the market. Affected by the recent plunge in the market, here is the crypto price analysis of BTC, ADA, ETH, BNB, LTC, DOT, BCH, XRP, and DOGE.

Crypto Price Analysis: BTC and ETH

As clearly seen in the head and shoulder chart pattern of the cryptocurrency on May 16, Bitcoin plunged below the neckline of the pattern. However, the bears were not able to achieve any lower point than that as the price retaliated and closed above the neckline.

As suggested by leading market analysts, if the bulls in the market failed to push the price back above the neckline, then there are chances that the selling will be intensified further. 

Talking about ETH, the continuous bull rally was finally broken and the price of the cryptocurrency dipped below the mark of $3,431. However, the bulls are trying their level best to not let it go below the 38.2% Fibonacci retracement level at $3,195.98.

What About BNB, DOGE, BCH, XRP, LTC, and UNI

BNB, for the very first time since December 13, managed to broke below the level of $520 and if the recovery manages to turn down the 20-day EMA, then that will mean the traders are closing their position on rallies.

DOGE, the Musk-pumped meme coin is in an attempt to defend the mark of $0.46, and as the data analysts suggest, there are chances that the coin can be dropped to the critical support at $0.35. In contrast to this assumption, if the bulls are able to drive the price above the level of $0.59, it can recheck the all-time high level of $0.73.

Looking at the chart of XRP, it can be seen that the bulls purchased the dip and will now propel XRP above the resistance line of the triangle. However, if the price breaks below the triangle, it can result in a reduction to $0.88.

BCH managed to break the level of $1,178 on May 15 and along with this, it closed below that level. The bulls tried to push the price back above the May 15 level but failed to do so. 

An aggressive profit-booking session occurred from the short-term traders in LTC, and this pulled the cryptocurrency to the level of $308 on May 12. If the price breaks below the mark of $270, bears will make a comeback.

Talking about UNI, the cryptocurrency broke below the support level of the rising pattern today but the bears were not able to capitalize on this weakness.

ADA and DOT Analysis 

Making an all-time high of $2.34 on May 16, ADA is showing a strong uptrend in its price. However, the profit-booking session is going on as of now and if the price breaks below the mark of $1.95, the altcoin may drop to the mark of $1.71.

On May 14, DOT managed to broke out of the level of $44 overhead resistance but the bulls in the market could not sustain the higher levels. The bears in the market managed to break the price below $44 on May 15.

Also, if the price surges from current levels, there are suggestions that the market sentiment is positive and the bulls are buying at lower levels.

READ  US SEC Wants Personal Bank Records from Ripple Executives

#ADA #BCH #BNB #BTC #Crypto price analysis #DOT #ETH #LTC #UNI #XRP

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoknowmics.com/news/crypto-price-analysis-btc-eth-ada-doge-bnb-ltc-uni-xrp-bch-dot

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Marvel Icon Behind Batman, Green Lantern To Launch Exclusive Comic NFT Collection

Marvel Icon Behind Batman, Green Lantern To Launch Exclusive Comic NFT Collection

The art world and the world of blockchain are currently seeing a huge intersection thanks to the rise of non-fungible tokens or NFTs as they are commonly called. Top artists from around the world have been selling their work as NFTs with millions of dollars being raised and NFT platforms seeing more attention from the […]

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Marvel Icon Behind Batman, Green Lantern To Launch Exclusive Comic NFT Collection

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The art world and the world of blockchain are currently seeing a huge intersection thanks to the rise of non-fungible tokens or NFTs as they are commonly called. Top artists from around the world have been selling their work as NFTs with millions of dollars being raised and NFT platforms seeing more attention from the artist themselves.

One of the latest of these is from Neal Adams, a legendary comic book artist behind iconic characters like the modern Batman and the Green lantern. It was announced on May 18, 2021, that the comic book artist will be partnering with Vorto Gaming to release an exclusive comic book and NFT collection.  

Batman Immortalized as an NFT? 

Some details about the new partnership have been announced such as Adams creating bespoke comic books around Hash Rush, which is the first title published by Vorto Gaming and will be released on its network. Part of this comic will involve new and existing Hash Rush characters and a new storyline from Adams. 

Given that Adams has shaped storylines for a number of comics for DC Comics and Marvel, there is a lot of anticipation. He will receive help for this new project from Swedish-based ComicFirst Entertainment and their artist Mikael Bergkvist, who is also his mentee. 

Adams himself has touched on the importance of gaming and why he is excited about this upcoming project.

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“Gaming is without doubt the most innovative entertainment industry of the past decade and is shaping so many different aspects of our culture. We’re moving into a period in history where we are spending as much time exploring digital, imaginary worlds as we are living in this one. Comic books were always a transportation tool – taking us to another place, to experience another story, even just for a moment. Hash Rush is no different and I’m looking forward to sharing this story with the world.’ he said.

At this point, it seems that there is no limit to the type of content that can be created as an NFT and sold. Artists from all sectors are beginning to explore their options with regards to both making money and providing valuable experiences for their fans. Hopefully, Adams’ participation in this project will lead to more prominent comic book artists embracing NFTs as well.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/marvel-icon-behind-batman-green-lantern-to-launch-exclusive-comic-nft-collection/

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NFT Investing: How to Buy Cryptopunks

Who are you calling a punk, punk?! Cryptopunks have nothing to do with 90’s TV shows or music albums released on CDs. Though their creators were possibly influenced by this culture. 

The post NFT Investing: How to Buy Cryptopunks appeared first on Bitcoin Market Journal.

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Digital Cryptopunks

Who are you calling a punk, punk?! Cryptopunks have nothing to do with 90’s TV shows or music albums released on CDs. Though their creators were possibly influenced by this culture.

Cryptopunks are algorithmically generated 24×24 pixel art NFTs. Due to their popularity, they have been featured in The New York Times, Christie’s of London, Art|Basel Miami, and The PBS NewsHour.

So why are collectors willing to pay so much for seemingly so little?

Cryptopunks: A Deep Dive

Cryptopunks were originally free to claim and now some have sold for over a million dollars, so what are they?

Cryptopunks are NFTs. There are 10,000 of them and each one is unique.  At the time of writing this article, the lowest-priced Cryptopunk was listed for 15.4 ETH ($30,603.34). Since they launched in June 2017 total sales have eclipsed 124,300 ETH ($247.01M).  In the last 12 months, nearly 8,000 have sold.

When it comes down to the art aspect of Cryptopunks they are algorithmically generated 24×24 pixel images. So why are collectors willing to pay so much for so little?

As with everything in the art world the cost of the materials used usually has little relevance to the perceived value. Paintings, Photographs, Sculptures, when there are more buyers than sellers prices rise until the market says the market is too hot and prices stabilize or come back down.

As Sir John Hargrave wrote in his recent article The Blockchain Investor’s Guide to NFTs 

“Two things are driving this mania:

1) People are trying to “flip” NFTs: buying low and selling high, hopefully in a short period of time (just as people tried to flip Beanie Babies).

2) Money doesn’t feel real: The flood of Covid-19 stimulus money makes it feel like “Monopoly money,” combined with the flood of crypto tokens, which makes it feel like you’re gambling with casino chips.”

Cryptopunks bids.

Like Hashmasks, which came out a few months after Cryptopunks, each Cryptopunk has a unique set of accessories.

CryptoPunk 1483

There are Male, Female, Zombies, Apes, and Alien punks with different mouths, hats, haircuts, and glasses.

CryptoPunk 1749

The rarer the Cryptopunk and the rarer the combination of accessories the more collectors have been willing to pay for them.

How to Buy Cryptopunks NFTs

For this example, we are using the official Larvalabs.com website. However, they can also be purchased via OpenSea.io

If you don’t have a Metamask wallet you will need to set one up. Metmask.io is the official site to download the plugin for your browser.  Then, either buy some ETH in Metamask or transfer some from another wallet.

On the Larvalabs site, you will have a series of popups to click through to permit your Metmask wallet to interact with the Larvalabs website. Similar to allowing your PayPal wallet to interact with eBay.

Terms and conditions.

Clicking on ‘I Do Not Agree’ will send you to the Beanie Babies listings on eBay.

eBay beanie babies auctions.

If you click ‘I Agree’ you will be greeted with a second confirmation screen.

Ethereum available

Once you have completed connecting your Metamask wallet to the Larvalabs website two new features will appear on the screen of any Cryptopunk allowing you to buy or bid.

Current market status

Cryptopunks on the Lavalabs site with a blue background are not for sale and have no current bids. Punks with a red background are available for sale by their owner. Punks with a purple background have an active bid on them.

Cryptopunks: The Final Verdict

Only you can decide if Cryptopunks is a good fit for your digital assets portfolio.

CryptoPunks 3609

It’s currently a hot market with Cryptopunk #3609 jumping from $566,000 to $683,060 in less than a month. There is no denying Cryptopunks are currently one of the hottest collectibles like Hashmasks and NBA Topshots Moments.

One plausible reason driving their price appreciation is Larvalabs no longer has any control over the code running CryptoPunks. Once they released the code onto the blockchain it became permanently embedded there and can’t be modified by anyone. Rarity is key with any collectible but something rare is only valuable if people want it. If no one wants your 1 of 1 item it’s essentially worthless.

Related Articles:

If you want to stay up-to-date with the latest trends and developments in the digital asset markets, subscribe to the Bitcoin Market Journal newsletter.

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Source: https://www.bitcoinmarketjournal.com/how-to-buy-cryptopunks/

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Asia Broadband Poised for Growth in 2021

E-Crypto News’ update provides the latest articles on technology and cryptocurrencies.

From Strong First Quarter Foundation

e-cryptonews.com

Continue reading Asia Broadband Poised for Growth in 2021 at E-Crypto News.

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LAS VEGAS, May 18, 2021 (GLOBE NEWSWIRE) — Asia Broadband Inc. (OTC: AABB) (“AABB” or the “Company”) is pleased to announce the publishing of the Company’s first quarter financial results highlighted by a strong balance sheet with over $100 million in assets. AABB is in highly liquid financial position to self-fund and rapidly advance its gold mining and cryptocurrency sales and exchange business segments of the Company.

Less than two months ago, the Company launched its AABBG gold-backed cryptocurrency token sales and has accumulated approximately $1.5 million in cryptocurrencies. Recently, AABB hired a marketing firm that has now designed an international marketing campaign to proliferate brand exposure, increase token sales and AABB Wallet transactions and amplify public and investment community awareness of the Company. The campaign roll-out will begin next week and is expected to build substantial momentum over the next 3 months, as AABB’s own proprietary cryptocurrency exchange nears completion and launch. The exchange will add tremendously to transaction fee revenues and allow for the price appreciation of AABBG above the minimum supported and gold-backed spot price of .1 grams of gold per token.

In the first quarter of this year, the Company began the assessments and negotiations of several gold mining projects as prospective high yield asset additions in the Company’s strategic growth initiative to acquire gold production and increase the AABB’s physical gold holdings. To date, management is thrilled with the projects’ potential for rapid development, high production and low operating costs. All efforts are underway to accelerate the acquisition processes to expeditiously advance AABB into gold production and begin expansion programs. The Company anticipates negotiating definitive agreements to acquire the mines and properties in the near future subsequent to drill testing, assays and further due diligence.

On an administrative note, AABB would like to provide an update to its loyal shareholders regarding the restricted share dividend.

CEO Chris Torres states, “Our transfer agent confirmed recently that restricted share dividends can take longer to process than ordinary free trading shares. This is due in part to some brokerage firms not allowing restricted shares in accounts, thus requiring physical share certificates to be printed and mailed. As these special dividend shares aren’t freely tradeable, the sense of urgency is not as high with Depository Trust Company (“DTC”) and the brokerage firms to complete the process. On May 12, 2021, DTC requested the additional shares needed to fulfill the dividend obligations. The dividend distribution process is still underway and is very much not on hold, as some have speculated.”

About Asia Broadband

Asia Broadband Inc. (OTC: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Mexico to client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of AABB that differentiates the Company and creates distinctive value for shareholders. The Company has recently released its freshly minted mine-to-token gold-backed cryptocurrency AABB Gold token (AABBG) and strives to become a worldwide standard of exchange that is secured and trusted with gold backing, an outstanding quality relative to other cryptocurrencies.

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://e-cryptonews.com/asia-vroadband-poised-for-growth-in-2021/

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