May 8, 2019

Sally Ho’s Technical Analysis 9 May 2019

Bitcoin (BTC/USD) extended recent gains during today’s Asian session and is again with striking distance of testing the psychologically-important 6000.00 figure. There have now been several 240-minute bars with higher highs, higher lows, and higher closes, evidence of positive market sentiment. Today’s intraday high is right around the 76.4% retracement of the 6810.00 – 3128.89 range.

Bids emerged around the 5865.36 level during the move higher, representing the 23.6% retracement of the move from 5512.00 to 5974.51. Another indication of positive sentiment relates to the Bids the pair found above the 5650.01 area, a recent relative high. Chartists are deliberating how high BTC/USD could trade if it moves above the 6000.00 area with technicians watching 6393.93/ 6440.82/ 6538.51.

Price activity is nearest the 50-bar MA (4-hourly) at 5621.72 and the 50-bar MA (Hourly) at 5852.22.

Technical Support is expected around 5468.57/ 5234.73/ 5125.13 with Stops expected below.

Technical Resistance is expected around 6393.93/ 6440.82/ 6538.51 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

Ethereum

Ethereum (ETH/USD) appreciated early in today’s Asian session as the pair tested Offers around the 171.64 level, right around the 38.2% retracement of the 157.28 – 180.69 area. Some Stops were triggered above the 171.22 area during the move higher, representing the 38.2% retracement of the 155.91 – 180.69 range.

During yesterday’s North American session, Bids emerged around the 166.22 area, representing the 61.8% retracement of the 157.28 – 180.69 range. Chartists are eyeing the 173.55 and 176.28 areas as important upside targets. If the market is able to move above upside congestion, some notable areas of technical Resistance include 183.33/ 189.23/ 191.40 with technicians also eyeing the 201.38 level as an important one.

Price activity is nearest the 200-bar MA (4-hourly) at 165.53 and the 50-bar MA (Hourly) at 171.25.

Technical Support is expected around the 162.36/ 159.25/ 148.81 levels with Stops expected below.

Technical Resistance is expected around the 177.80/ 183.33/ 187.62 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

Published at Wed, 08 May 2019 23:52:46 +0000

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Alex Tapscott’s Nextblock Global Receives Major Backlash Prior to Public Offering

Things have gone from bad to worse for Alex Tapscott this past week. Several of his projects have received a lot of scrutiny. Moreover, there are some allegations which have to be rectified as well. Nextblock Global, the company owned by Alex Tapscott, will invest in companies and projects focusing on ICOs. However, the list of advisors for this company is mostly fake. Not a big surprise, but it is still rather worrisome.

Most people in the cryptocurrency world know the name Alex Tapscott. He is a well-known author and Canadian investors. However, his latest business venture raises a lot more questions than answers. Nextblock Global is a very dubious business model, to say the least. Not because of the investing angle, but everything else about it seems pretty fake. Especially the list of alleged advisors contains names which aren’t even associated with this venture.

Trouble Ahead for Nextblock Global

Some of those names include Andreas Antonopoulos and Dmitry Buterin. It is unclear why their names are on the list of advisors, to begin with. Neither of these gentlemen is even remotely connected to this new venture. There are some other names on the page which may also be completely fake, including Vinny Lingham and Kathryn Haun. It is disconcerting to see these names listed on a site they don’t even want to be associated with. It is a common tactic among semi-scammy ICO ventures, though.

The big question is why Alex Tapscott made such a grave mistake. It is evident these names were included to make the company more legitimate. However, it is unclear if this is his doing or someone else’s. The official explanation is how they were “listed in a draft version”. Even so, these names shouldn’t be there unless they agree to be a part of it. A weak explanation, to say the very least. This doesn’t bode well for the future of Nextblock Global either.

It is evident this whole ordeal will cause a lot of heated debate. The Canadian Imperial Bank of Commerce has rebuked its underwriting of the Nextblock Global public offering. This is the only logical decision as long as these “issues” are still being discussed. It is a very strange and potentially unfortunate turn of events. Whether or not there was any foul play involved, will always remain a question. It won’t do the reputation of Alex Tapscott any favors either right now. Then again, if this is an error, it should all blow over pretty soon.

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