Why I am doing this daily report.
The research and reading I do everyday yields a surprisingly significant amount of information, providing an overview of sentiment, major news details, confluence factors, and insight into our cryptospace.
Due to the encouragement of friends I decided to start making my personal blog, that I had been using to archive this information I aggregate, public.
As a result I've found that by publishing I've been receiving support for the time and effort I spend formatting and sharing out this information.
What is the Daily Dimes?
The Daily Dimes is a publish where I post an aggregate of news information that I come across in the cryptospace every day. There are two sections found below:
- A news bulletin section, where I cover brief descriptions of noteworthy news and developments with sources for further reading.
-and-
- A trading report section, where I release signals and information from my paid memberships, private groups, and personal trades that I'm monitoring, as well as my own market analysis.
Today
- 7 Bulletins
- 2 Trading Section Reports
- 0 Updates
- Bithumb's audit by the National Tax Services showed that there have been no illegal activities, the audit was completed mid April however the results were more recently released publicly. Bitthumb owes 30m in taxes however outside of that there have been no irregular activities warranting action against it. Source
- Binance has setup a bank account in Malta, this move has been done to help allow Binance to release fiat-crypto trading pairs across it's platform. Malta has been proving to be a banking safe haven that various platform are flocking to in order to get positive results on fiat listings. As a footnote Binance is also in talks with Malta's traditional exchange in a search for possible future possible collaboration. Source
- Brave platform has launched it's 500k USD BAT giveaway/month for it's browser users, this will be in addition to the monthly payments for Brave publishers as stated in it's release. The allocated 500k USD BAT giveaway is setup to give users roughly 5USD worth of BAT monthly and is part of the incentive program. There is a fair amount of bullish sentiment surrounding BAT similarly to other major working utility projects not unlike STEEM. The full release can be found here.
More on the BAT project and getting started can be found here. I'd recommend to anyone that hasn't already checked out the Brave browser to do so.
- For those tracking the 'Mystery Asian Whale', the sourced article is a great informational source for keeping up to the latest update on it. For those that aren't familiar the rundown is that there was a heavy accumulation by a single bitcoin address of a bit under 94k BTC over the months leading up to the second half of 2018. Recently these accumulations have begun getting chunked up and sent off to various major exchanges. There is very little knowledge besides this. Feel free to comment below today's release to add informational sources to this article. Source
- Coinbase has made some news since the last set of Daily Dimes publishes below is a quick synopsis of some major news items to keep track of.
Coinbase acquired Digital Wealth with is a financial investment management firm. Source
Coinbase intends to be a one stop shop soon with an announcement that they are 'on track' to become a licensed ICO broker within the space. Which basically means that their development of becoming a securities exchange is going excellent atm. Source
Around the time that Binance secured accounts in Malta and began moving offices Coinbase opened an office in Japan and will be registering with the Japanese FSA to make sure as they stated:
" As in other markets, we plan to take a deliberate approach to our rollout in Japan, which means working hand-in-hand with the Japanese FSA to ensure compliance with local laws at every stage."
Source
Additional article detailing information about Coinbases acquiring of a FINRA compliant firm to help ensure it's safe ability to trade securities in the future, competitors Robinhood and Circle (who acquired Poloniex back in Feburary 18) are also notated in this expanded article. Source
- There has recently been a rash of 51% attacks on various networks, these include bitcoin gold, monacoin, zencash, and verge, the latest of which is litcoin cash. Some of these are notable networks with a heavy following others are without argument considered low cap. Without knowing for sure what is going on with these networks all of a sudden please be sure to review your investments in any small caps and begin to factor in the question of 'is the project I'm holding likely to be susceptible to a 51% attack' as this may just continue to get worse. Source
- Komodo to be added to Bitpanda June 12th, which is a relatively small footnote, however along with it's addition of barterdex to blockfolio app, and the soon to be released hyperdex Komodo has been having a few notable news releases related to listings like this and project releases over the past several weeks. Marketing for the project is to start Q3 2018 where a project that has traditionally been technically focused is making a mass move to have a marketing presence entering the space. Source
Trading Section
- BTC macro: On the weekly we're looking at a reversal starting to take place after the downtrend breakout. With the factors of the price having been relatively flat over the past 2 weeks a steady decline in volume indicating a lack of interest at current level, added in the RSI dipping back down into the oversold area.
This is all suggestive there is little interest to sell more at the current level. There is a possible event in place with the mystery asia whale which could create some downward pressure, however barring that we are looking at having established a trend line of high lowes indicated by the light blue line that the weekly price has been bouncing along since the start of 2018.
- BTC local: Looking closer in we can see a contrary development of the RSI on the daily as shown below.
And going a little further in to the 4 hours time frame (Below) we're seeing an agreement with the higher weekly time frame on the RSI along with a tightening of the Bollinger Bands which are indicative of a larger move up or down.
More in depth analysis are to follow, these have just been an opportunity to showcase the current environment, sentiment, trendlines, and stoch readings.
When many time frames are in confusion with one another we usually defer to the higher time frame as the more accurate overall. In this case I'm going to share the monthly Macro chart as well to help give us an idea of where this might all be headed.
Below: We are seeing a bottoming out of the RSI on the monthly chart and we're being shown that the breakout has not been able to be recontained back below the downtrend we've been in for the past 6 months. In my opinion June was and is going to be the greatest insightful month as to the next lengthy trend for BTC, atm it's looking optimistic we're going to be returning to a steady upward trend again.
I'll be watching this light blue trend line closely for the coming weeks.
If we experience a drop from here below the trend line the next area I'm watching is the 5-5.5k area for a retrace back upwards.
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