In this video, I explore Nano – a cryptocurrency formerly known as RaiBlocks which achieves scalability through an innovative data structure called the “block lattice” and delegated proof of stake.
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### Links on topics mentioned ###
https://nano.org/en/
https://github.com/nanocurrency/raiblocks
https://hackernoon.com/nano-rebrand-announcement-9101528a7b76
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When it rains, it pours. Last week, that China was taking harsh measures to reign in their various cryptocurrency exchanges. Several exchanges closed down and others were given a deadline to properly cease trading operations. This news came hard on the heels of recent directives that banned ICOs in China, leading to across the board.
After this latest news settled, bitcoin managed to slightly rally before topping out around $4100. However, early this week, rumors began to circulate that executives associated with Chinese exchanges are being prohibited from leaving China. At the time of this article, BTC-USD is sitting just at $3900 and is showing signs of further pullback:
The figure above shows the whole, macro bull run from the $1700s. One important feature of the trend shown above is the 61% retracement down to the $2900s. The retracement down to such a low value shows that sell pressure is very strong in the current market and hints toward bullish exhaustion within the macro trend. Another key feature to note is the following:
An important test of this rally was the 100% retracement of the bear run, post-China news. Sitting just below the 23% Fibonacci Retracement lies the bear run. The test of the 100% retracement is important because that resistance line marks a strong shift in market sentiment. A failure to break through those values shows that, even though there was a strong rally, the market is still bearish in nature and is likely to continue.
Figure 2 also shows several tests and rejections of the 2-Hour 200 EMA (Exponential Moving Average). The 200 EMA is a common tool used among traders to objectively view the state of the market compared to the prior trends. A trend existing below the 200 EMA is bearish in nature, and trends that show support on top of the 200 EMA are bullish in nature.
At the time of this article, the BTC-USD is displaying two failed tests of key resistance levels and its showing little sign of upward pressure. Currently, the trend is sandwiched between the 200 EMA and the 50 EMA. Both moving averages can used in conjunction to gauge just how strong the market is. Like the 200 EMA, the 50 EMA shows short-term bullish and bearish trends relative to the EMA line: Trends above are showing bullish traits, and trends below are showing bearish traits.
Right now, we are in the middle of a crucial test of both support and resistance lines as the market decides where it will go next. A break below the 50 EMA will ultimate show the long-term bearish intent of the market and will lead to tests of the low support values:
Figure 3: BTC-USD, 1-Hour Candles, GDAX, Support Levels for Current Rally
At the moment, BTC-USD is making its third test of the current rally’s 23% retracement values. A break below this line will have bitcoin testing the macro 38% retracement values in the $3700s. If bitcoin manages to break the 38% retracement values somehow, there will be strong support around the $3400s as the 50% macro Fibonacci Retracement values (shown in Figure 1) have historic significance and support.
If bitcoin is going to see any significant price growth within this rally, it will have to pick up some major buy volume and break through very strong, historic resistance values. It’s extremely unlikely that, given its repeated failures to break resistance and the inherent bearish news looming over the bitcoin community, BTC-USD will shove to new highs without strongly testing lower macro support.
Summary:
BTC-USD had a strong rally, but ultimately topped out around $4100.
At the moment, BTC-USD is testing macro support levels and shows very little, significant upward strength.
Should we break support in the $3900s, we can expect a test of the macro 38% Fibonacci Retracement values in the $3700s.
Trading and investing in digital assets like bitcoin, bitcoin cash and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
24 Aug 2017, London, UK, – DOVU, the global marketplace for transport data, announces its token sale, scheduled for 3 Oct, 2017. The project aims to create a distributed marketplace for the give and take of transport-related APIs, fuelled by the DOV token.
[Note: This is a press release.]
DOVU is pioneering a digital economy for the mobility sector. At the moment, transport data is difficult to obtain, holding back insight and progress for the industry. Now, by using blockchain technology, DOVU is providing trust through transparency for data providers, whether corporates or individuals, while opening up the availability of quality data sets for public and enterprise use. The DOVU system works by creating a distributed marketplace for transport data. Vehicle Hire, Insurance Companies, Ride-sharing and others across the mobility sector can connect to DOVU to create a giant network of transport-related data resources.
“The transport sector knows where it wants to go with real time data and smart technology but doesn’t know how to get there! DOVU is the missing piece of the puzzle – an on-ramp for fast, secure and global data sharing for everybody.”
The DOVU platform allows users to mix and match mobility service data, maximizing data value and utility. For example, you could combine car data with insurance data to calculate smarter policies, or use geolocation data in conjunction with weather statistics to inform ride-hailing companies.
Blockchain not only unlocks opportunities for businesses, such as data monetisation and utilisation, but also for individuals, who can be rewarded for their data contributions to the ecosystem. The DOV token is at the core of the network, an access and permissions token central to the process of seamless payment across all mobility services. The platform will also ensure the quality of data available, by having a built-in reward system for positive contributors to the DOVU ecosystem. This allows developers to discover, test, evaluate and combine APIs with unprecedented ease and trust.
DOVU Team
The core team consists of entrepreneurs, data and cloud computing experts, blockchain developers, business consultants, and marketers. DOVU is led by Co-founder and CEO Irfon Watkins, Co-Founder and CMO Arwen Smit, and Co-founder and COO Krasina Mileva.
Watkins, explaining the team and the platform’s strengths said,
“There is an urgent need for practical uses of blockchain technology to bring it to the masses. Leveraging blockchain technology for mobility solutions has broad market appeal. Blockchain will make sure everybody will be fairly rewarded for their contribution to the mobility ecosystem.”
DOVU has been under development since 2016. The DOVU platform is currently in closed beta, and its MVP is scheduled for launch in Q4, 2017. Crowdsale participants can contribute in ETH to become eligible for DOV tokens, the native currency for the DOVU market network.
CEO will be presenting DOVU at When Blockchain Meets Mobility at the Gherkin in London on the 29th of August.
will be chaired by MikeButcher, editor-at-large at TechCrunch.
The upcoming DOVU token sale opens on 3 Oct (1700 UTC) and will run until 31 Oct, 2017 with a 20% bonus for early investors.
More information about the crowdsale is available at:
Learn more about DOVU at:
In this video, I explore Nano – a cryptocurrency formerly known as RaiBlocks which achieves scalability through an innovative data structure called the “block lattice” and delegated proof of stake.
Figure 1: BTC-USD, 12-Hour Candles, GDAX, Macro Fibonacci Retracement Values
Figure 2: BTC-USD, 2-Hour Candles, GDAX, Failed 100% Retracement
Figure 3: BTC-USD, 1-Hour Candles, GDAX, Support Levels for Current Rally