December 5, 2018

$BTC – #Bitcoin-Daily-Update #5 -Day Trader Explains

Hello Lads and Ladies,

Welcome back to TJ’s TA sessions.- The Daily BTC Update

What happened in the last 24h?
Finally, one of our lower orders are starting to fill and we are getting ready for the short squeeze. By now, it is only a matter of time when short are going to get trapped and liquidated.
We saw a wonderful low volume dump. Nothing interesting happened there in my opinion. We liquidated around 10 million Longs and had two market shorts of each above 5 million at the very bottom around 3714$ (how to get trapped 101). Nevertheless, a reason that I am elaborating on for this dump is a the very steep decrease in the Funding Rate. Which is again increasing by a lot and we are seeing a small movement upwards.

Most important S/R right now?
3434 3550 3666 3730 3820 3950 4077 4123 4169 4382 4658

Gained lost %?
Since the opening of the new daily, we wicked down -6.41%, but gained 0.25%

MarketCap?
Total MarektCap is 121 Billion – lost 6 –
Of wich BTC is 65 Billion – lost 3 –
With a Dominance of 54.2%
– Today’s dump seems to have downed more alt coins than just bitcoin –

Volatility?
The 30d avg Volatility is 5.53%
– +0.01 –

Shorts/Longs?
Shorts – 35.7k (danger-zone)
Longs – 26.9k (solid)
– S +1.2 / L +0.1 –

Funding?
The last 3 funding rates added -> -0.05%
– -0.21 -> lost a lot –

Momentum?
The TJ-Momentum is still red but very low. As soon as we see it green, it will be a rising momentum and it will be a bullish sign for bitcoin . Until then we need to keep a tighter Stop Loss and lower leverage as well as margin.

Volume?
We are STILL waiting for a big volume breakout. Today, as mentioned low volume dump. We are forming a n-formation, which is very divergent to our chart and price.

TJ-MF/StochRSI levels?
TJ-MoneyFlow -We are still below the 0 line. Yet the money Flow is heading down. This is again not favouring the direction that we are going towards right now. Once more shoring us a divergence.
StochRSI (still trending up)
K(blue) – 77
D(orange) – 56

Divergences?
I am still seeing the volume going sideways bit the price going down. The same with the price going down and the TJ-Stoch going up as well as the TJ-MoneyFlow continuing up. A big move is still incoming, indicators are rather showing us the possiblity for a move upwards to test the resistance at 4.4k.

Market Structure?
Right now we are on lower timeframes in a falling wedge , with decreasing volume and decreasing price. With a high chance we will see the breakout upwards. We are still heading for that double bottom , which would ultimately align all starts in one line.

Overall?
We are definitely in a bear market and definitely have to fight the very strong bearish sentiment in the market. Moreover, we see a lot of dumps and breaking horizontal supports and a negative momentum, which is why we are saving us with a protective stop loss at this moment. Nevertheless, we are seeing a lot signs that are pointing up. We have so many shorts and from what I see right now, every time we get into that 35k region, next day the are getting liquidated, lets see if tomorrow we will see a nice push, with the increased funding rate and the low volume dump. As you see I am still definitely keeping my long position. I will not be the one shorting a possible bottom below 4k.
Please note: I am still having orders below and am following a proper risk management with a low margin and low leverage. I am basically happy when we move down.

What do we want?
We want to stay above and close the daily above 61.8%, once again heading to close above it would be really nice. This time it would be 3800$. This might give us a bull hammer and a pretty nice indication for a solid long.

Position?
Keeping the Long position. Still not convinced of a short position. STILL READY for a possible test of 3400$, without panicking.

Entry at 3.8k is ok
Entry at 3.7 is good
Entry below 3.6 is very good

Let me know in the comments and leave a like if you like the infos and want to see it daily.

Like and Follow me and you will find this page interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins.

This is as always a delayed post, if you are interested in first hand news, feel free to join our group,

Cheers, TJ

Published at Wed, 05 Dec 2018 23:25:26 +0000

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TokenFunder Wins Approval to First OSC Regulated ICO Launch

In Canada, steps are being taken to bring Initial Coin Offerings (ICOs) within the regulatory framework. TokenFunder, a Toronto-based startup that helps other startups launch and manage ICOs, is the first company to win approval for an ICO by the Ontario Securities Commission (OSC).

While some ICOs have come under regulatory scrutiny lately, TokenFunder CEO Alan Wunsche believes that ICOs can be done right, with built-in safeguards to avoid fraud.

Wunsche said in a press release issued to bitcoin Magazine:

“TokenFunder has been working with the Ontario Securities Commission’s LaunchPad for the past year to define an innovative funding model for businesses. Our offering will give investors the comfort of knowing that they are purchasing a security that can stand up to the scrutiny of regulation.”

TokenFunder ICO Launches November 1

The OSC decision allows TokenFunder Inc. to launch their ICO November 1, selling FNDR tokens to retail investors who can then launch their own ICOs on TokenFunder’s platform which is being built on the Ethereum blockchain.

TokenFunder was given “relief” for a year from current regulations covering investors. This includes an exemption from registering as an investor and an exemption from a limit to the amount that can be raised in one offering.

Wunsche notes that many firms using ICOs to raise investment funding are not able to verify where the funds are coming from making it risky to raise money this way. He believes that there is a safe way to use ICOs and is offering the expertise to provide investor protection within a sound regulatory framework.

Like many jurisdictions around the world, the Ontario government is looking for ways to regulate ICOs without stifling innovation and driving startups to other jurisdictions.

To date, some startups are holding ICOs without regulatory approval saying that their tokens or coins are not securities.

What TokenFunder Is Selling

TokenFunder offers an ICO process that they claim will build trust in digital finance through the use of best practices, including smart contracts to build in legal compliance and regulatory compliance to ensure that investor’s rights are protected.

TokenFunder offers token launch advisory services and is designed to operate within applicable securities laws and de-risk offerings and purchases of coins for both issuers and purchasers by providing, among other things, a regulatory approved platform and related support.

TokenFunder co-founder Laura Pratt said in a press release:

“A unique feature of our FNDR token is that it lets investors share in the future success of the platform. TokenFunder has innovative KYC and AML compliance safeguards, which investors don’t receive with unregulated ICOs. After the completion of our ITO, our vision is to enable other companies to launch ITO’s using our platform. It is a myth that regulation is in the way… it’s the right way.”

LaunchPad Regulatory Sandbox

TokenFunder is a graduate of the OSC’s regulatory sandbox, part of the Canadian Securities Commission network of sandbox initiatives.

LaunchPad is the Ontario sandbox with largely provincial jurisdiction but is also part of the federal securities experimental program. Its goal is to help new fintech startups work outside the current regulatory system and navigate a financial terrain that is largely based on traditional systems that may not work for new cryptocurrency and blockchain startups.

The Blockchain Association of Canada (BAC) has been lobbying the province’s finance minister and others for more appropriate regulations for the new digital age.

Executive Director Kyle Kemper, on behalf of the BAC told bitcoin Magazine:

“This is a first step in building a common understanding between all stakeholders around the potential, risks and opportunities of the token economy.

“This ruling demonstrates that the OSC is adapting to a changing landscape and recognizes the need to support entrepreneurs leveraging blockchain technology. The Blockchain Association of Canada looks forward to assisting in developing a regulatory environment that supports continued innovation. The BAC congratulates the TokenFunder team for achieving this impressive milestone.”

The post TokenFunder Wins Approval to First OSC Regulated ICO Launch appeared first on Bitcoin Magazine.