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Where Will BITCOIN Bottom? What You Need to Know.

Where will bitcoin bottom? What you need to know.

Where Will BITCOIN Bottom? What You Need to Know.

Where will bitcoin bottom? What you need to know.

Whats up Traders!

I made a video analyzing the current BTC             Price Action. As you all know BTC             had a big drop. If you’ve been following my videos on YouTube or here, you know that I’ve been calling for a breakdown from the descending triangle . All the bulltards were so sure BTC             would go up. Where are they now?

Either way lets not gloat for too long. We have business to attend to. In this analysis I won’t be posting trades, but more look towards where we can expect to bottom out. Even this could be the bottom but after this drop I highly doubt this is the bottom. Either way its important to stay flexible so if you have fiat and want to get in BTC             spot, then now would be a good time to buy for 25% of your allocation. If you are a trader, then you should know how to trade the price action.

So in regards to where we can expect to see the bottom, looking at the Weekly chart is quite a decent way to do it. And if you go back historically you will find that the 200 EMA and 200 MA were great indicators to show where the bottom was in the last bear market for BTC             .

That doesn’t mean it will hold up for sure and therefore we want to look at other factors and indicators as well, such as the Volume Profile and historical support levels.

If you take a look at the chart the 200 EMA is currently at $4175. This level also has a lot of volume history as you can see on the VPVR. This is also the edge of the value range which usually acts are support and/resistance, meaning it’s quite possible we bounce there. However one thing about High Volume Nodes( HVN             ) is that price will usually stick around there longer as its a level that historically people agree upon, which obviously results in lots of transactions.

So while I like $4175 as a bottom, it could be that it wont be a sharp bounce form there. Usually LOW VOLUME NODES are where sharp bounces happen for obvious reasons.

Where are we seeing more LVNs further down? At the 200 MA which is at 3k. I think the BTC             Bottom will be a sharp V-Bottom pattern, so in that sense, I can see 3k and 200MA being the V-bottom level where we bounce and consolidate at $4200 and sideways from there for months until the next bull run begins in mid to late 2019.

This is obviously all just theoretical, but I would put my money on either $4175 or $3000 being the bottom.

How to trade this as an investor/HODLer?

Buy a little now. Buy more at $4200-4600 and buy a ton at $3000.

If you get some value from my analysis please leave a LIKE. Its appreciated.

Also check out my YouTube channel and follow me on twitter where I post my trades. GL trading.

-Alex Copenhagen

Published at Sat, 17 Nov 2018 09:10:37 +0000

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AWS on Blockchain Reluctance: ‘We Don’t Build Technology Because We Think the Technology is Cool’

At a time when many companies are rushing to embrace blockchain technology, Amazon Web Services (AWS) has adopted a more cautious ‘looking but not touching’ approach.

At this year’s AWS re:Invent conference in Las Vegas, CEO Andy Jassy made clear AWS’ stance on the popular technology, telling journalists that while they have “a lot of customers and partners who either build blockchains on top of AWS or are building services to use blockchain on top of AWS,” they have no plans to integrate the technology themselves anytime soon.

Jassy stated:

We don’t yet see a lot of practical use cases for blockchain that are much broader than using a distributed ledger. We don’t build technology because we think the technology is cool, we only build it if we think we can solve a customer problem and building that service is the best way to solve it.

AWS CEO Andy Jassy

If It Ain’t Broke, Don’t Fix It

While the cloud services platform, which boasts such high profile customers as the NFL, Time Warner, and the Walt Disney Company, isn’t necessarily averse to rolling out a blockchain product at some point, AWS says that isn’t a need for it at this time.

As far as Jassy is concerned, there aren’t many use cases for blockchain technology beyond the distributed ledger. He noted that most of the use cases for which their customers are turning to blockchain technology can already be solved using other technologies – most of which AWS already has within its existing capabilities.

Competitors Rush in Where AWS Won't (Yet) Tread

Competitors Rush in Where AWS Won’t (Yet) Tread

AWS has many competitors in the cloud services space and many of those competitors, including IBM and Microsoft, are more optimistic about blockchain technology and distributed ledgers.

This year, Microsoft rolled out Coco, a framework designed to facilitate blockchain adoption by adapting existing blockchain protocols or by creating entirely new protocols, and their Azure Blockchain service, a BaaS (blockchain as a service) that enables businesses to quickly and easily configure and deploy a blockchain network.

IBM also launched their own BaaS, IBM Blockchain, which “empowers businesses to digitize transaction workflow through a highly secured, shared, and replicated ledger.” In addition, they have joined The Hyperledger Project in an effort to help advance cross-industry blockchain technology.

The blockchain ecosystem has received a lot of hype in recent months for its unparalleled solutions across several industries, including business, health, insurance, supply chain, artificial intelligence, and many others. Just like any new technology, the first adoption is very important in creating value. But since the sector is still growing, more research is needed, as clearly stated by Jassy, in order to ensure the realization of the true use cases of this technology. But as to whether there are other systems that will be more useful in solving decentralized problems than the blockchain, that is yet to be known.

Do you think AWS is making a mistake by not throwing their hat into the ring and embracing blockchain technology? Let us know in the comments below.

Images courtesy of Flickr/JD Lasica, AdobeStock, Flickr/debbie ding

The post AWS on Blockchain Reluctance: ‘We Don’t Build Technology Because We Think the Technology is Cool’ appeared first on Bitcoinist.com.

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