I third that and I am definitely staying fishy
Thanks for the comments, the main objective is to show that if you set yourself a daily routine, it becomes second nature and you can prosper from even small amounts of time you invest. You also get to learn what really goes on and can pick out the chaff from the diamonds.
For example, in the news today:
Crypto Tumbles As Mysterious $720 Million Bitcoin Wallet Wakes Up And Starts Dumping Coins
Looking at the Market, it is pretty easy to see, this is rubbish. BTC is trading sideways between 6200 and 6500 and the drop earlier this month happened before that “movement”. The drop is more likely due to the shorters not winning last month and as I described, the recovery process does need a consolidation to happen, just as predicted.
Today the Market is still going sideways with a slight downtick in volume and some prices, but overall, looking more stable than it has been in a long time. Don’t always believe what the news says, you need to go look at what is happening overall, which is why a quick daily summary helps you to make wiser decisions.
Bitcoin is 300 Times Cheaper Than Wire Transfers, Banks Take 83% Profit
Dogecoin Creator Helps Elon Musk Eliminate Ethereum Scammers on Twitter
EOS surpasses Ethereum in dApp users and transactions. EOS has accomplished more in 3 months than Ethereum has in 3 years.
Tezos Price Skyrockets After Official Mainnet Announcement ($1.20 to $1.65, the consolidated down to $1.50 - I think APPC beat them and didn’t even announce anything yesterday - then RCN is up over 61% and many of the alts outperformed it on price - again news that says something without actually being accurate - It is not that I dont like Tezos, it is just these news items are not showing what is really happening)
A Ripple executive just announced that there will be “significant news coming out” about their xRapid product in the next month
Waltonchain CEO lies about his background in the new WTC whitepaper (naughty naughty)
Kin announces former Twitch executive Matt DiPietro as its new CMO
(seeing quite a few executives moving from traditional jobs to crypto - tells us something)
Ethereum Dapp Bancor Is Expanding to EOS
Zilliqa signs a partnership with SoCo SNP
A very contentious fork is looming above Siacoin (SC) - is this the make or break for Sia?
Omisego (OMG) - lack of transparency in the updates and replies to questions, is starting to frustrate the community
ISS POS With Electroneum Instant Payment System (Fujitsu doing testing?)
Consensus Singapore 2018 today, should be interesting news coming out later this afternoon.
Genesis Vision (GVT) Beta Version Launch now scheduled for Sept 30th - 11 days away.
(GVT still trading sideways around $8 to $8.30 - looking for a weekend consolidation again)
NULS - Smart Contract module release - September 30th.
(NULS trading at near all time 2018 lows, might be another interesting one this weekend)
ETC - Ethereum Classic Labs Launch Sept 30th.
(ETC also near all time 2018 lows, another good one to look for on the weekend)
Remember, not advice, be Fishy on your own.
$AUD bounced off $0.714 USD and is up to $0.722 - can the shtcoin make a recovery? Traders say - 63% going short. LOL
Trump’s administration announced the introduction of 10% tariffs for Chinese imports to $200 billion. The news had a moderately negative impact on the markets. The dynamics are limited, as the information about these measures appeared on Monday, which took from MSCI about 1% on Monday. We see something like the traditional reaction of the market “buy rumors, sell facts.”
Markets Reversed to Growth, Despite New Tariffs on China Import (most currencies have rallied)
EURO - 63% Short - mostly sideways trading
JPY - 58% Short, the rally was sorely needed for Japan, which is trading up and looking Bullish today.
GBP - 49% Short - also trading up which is a good sign
CAD - 43% Short, currently Trading up and looks very Bullish for today
Bitcoin - 41% Short, trading upwards at the moment, expecting it to hold flat between $6200 and $6500
Ethereum - 20% Short, trading a little sideways but expecting more consolidation soon
Ripple - 13% Short and has traded up from $0.27 to $0.33 overnight, so expect some consolidation before another potential rally. If BTC trades up to near $6500, I suspect Ripple might rally again as traditional Forex investors really like their Ripple Nipples.
Market still sideways trading, did hit a low earlier where BTC dropped to $6125, but quickly recovered back to $6345 within 2 hours. So still going sideways between $6200 and $6500 as expected, though might see more bearish action today as volumes are still very low.
For today’s items:
Ripple Nipple dominating the news:
You Can Now Accept XRP on YouTube and Twitch
Bank Migrating to Ripple, PNC Dumps SWIFT Adopts xCurrent
The rest of the news is fairly normal, but remember, Sept 30th is end of quarter and many projects are delivering products, whitepapers, innovative ideas for next quarter and so on. This would suggest the first week of October might see higher volumes and thus picking up some cheap CDA’s now could be a good short term plan (not advice, be Fishy on your own).
Palestinians Are Using Bitcoin to Transact Across Borders Amid Conflict
VeChain Ambassador calls out VeChain for being a scam
(if it drops to under 1c this weekend, I’m going to be picking up more)
Reminder: ICON ICX Token Swap Deadline 25th September
(if it drops below 51c this weekend, I’m going to be picking up more)
Are Recent Price Surges In Ripple & Ethereum Indicative Of Their Superiority And Potential Longevity?
Los Angeles Dodgers giving away digital ETH bobbleheads to the first 40,000 fans
Kin Partners with VR Beauty App Perfect365 to Bring Crypto to 100M Users
Genesis Vision (GVT) Summary: Fundamentals are rock solid, full release is around the corner - October 30th (so Beta for only a month? I’m going to suggest not long enough, but we shall see)
Weiss Ratings Reveals Top 8 Crypto Picks, Calls XRP, IOTA, NEO and Cardano ‘Absolute Steals’
(If ADA drops below 6c this weekend, will probably pick up more)
Litecoin, Monero, Cardano, Stellar Lumens, EOS Price Analysis: Are Altcoins Preparing for Q3-4 2017 Volatility?
and finally, for the more techy buffs, here is an awesome PDF on “Understanding Blockchain Consensus”
Possibly one of the best ones I have read so far.
Consensus Singapore 2018 news has been a little light, which has been surprising. However, multiple Youtubes are up if you have the inclination to watch them, I have briefed over a few.
LSK - Lisk Hub V1.3.0 release today. Lisk is one of the few alts that is trading sideways with a 3% uptick on average (setting higher lows on average) for the last week or so. Might be heading towards a breakout.
ONT - Ontology partners with TOP Network. ONT has been hovering between $1.50 and $1.90 during the last week or so of sideways trading, might be another one ready for a breakout.
So many CDA’s to keep an eye on this weekend
$AUD rallied to 72.7 and is now taking another dive, it appears the 66% going short today is probably a safe bet.
US Fed To Hike Rates By 25bps On September 26th. USD may consolidate a little, but higher rates also attract more investment money. So could go either way and will likely be traded with the focus on Tariffs more than anything.
The US imposed a 10% tariff on $200 bln of Chinese goods and indicated that the tariff will rise to 25% at the start of next year. President Trump also threatened to quickly follow up with another tariff on $267 bln of Chinese goods it retaliated. China had already threatened to retaliate and specified the goods and tariff rate for $60 of US goods. How many advisers or informed observers would have predicted China would back down? Therefore, it seems reasonable to assume that the Trump Administration wanted to go ahead with the full enchilada ($50 bln +$200 bln+$267 bln).
The Japanese Yen moved from ¥112.315 to ¥112.256 against the Dollar, upon release of the trade deficit figures, the widening in the deficit coming as the U.S begins to eye trade terms with Japan. (Tariffs on Japan?)
EURO - Mixed but 61% Short
GBP - Bearish, but 53% Long
JPY - Bearish 59% Short
XAU - 70% Long! (Money moving back into Gold at a higher rate than normal)
Bitcoin - 60% Long
Ethereum - 81% Long (highest it has been in a while)
Ripple - 86% Long, seems traditional Finance people like their Ripple Nipples still and Chart TA suggests there might be a consolidation this weekend, but then if the Bullish sentiment stays the way it is, it will likely have another breakout (especially as Banks announce onboarding on radar for Q4)
I do not hold any XRP, but I do short term trade it with the bots, if it spikes, going to need to add it to the exclude list from the bots so they dont touch it as this feels like some “old boys” doing which tends not to go well for others.
I have question : Where do you live ?
Because all your post begins with
But it’s 1 AM (UTC + 2) here when you post your message
Australia (now some random keyboard characters fdfvhrv83n348cnsk).
Just for kicks…
UGT (abbr.): Universal Greeting Time.
UGT is convention initially established in #mipslinux on irc.openprojects.net (now irc.freenode.net) but slowly taking over the world. It states that it is always morning when person comes into a channel, and it is always late night when person leaves. Local time of any member of channel is irrelevant. Resistance is futile. Your ass will be laminated. (geoman is exception to this rule - his ass will be fried instead).
Used as follows:
Good (UGT) Morning, Everyone! or good morning (ugt) (on entry to channel).
Good (UGT) Night - when leaving it.
The idea behind establishing this convention was to eliminate noise generated almost every time someone comes in and greets using some form of day-time based greeting, and then channel members on the other side of the globe start pointing out that it’s different time of the day for them. Now, instead of spending time figuring out what time of day is it for every member of the channel, we spend time explaining newcomers benefits of UGT.1
Bro where else would Sir Fishy be liven than the Great land of Oppertunity Down Under… haha the land where the day begins and the nights never end…
Please not loose Topic on this thred folks as its Golden for some, and to fill it up fill of garbage would be a shame … UGT
XRP up 35%,the banks seem to like this one,or at least investors believe the banks like it.
“VeChain and BYD has created a dapp together with DNV GL and they spammed it on their respective social medias and hundreds of people watched Sunny giving speech on BYD world developer conference announcing their dapp. Are you seriously this ridiculous or you don’t know how to do due diligence? and you think every person working in BYD has idea on all the partnerships BYD has got? R&D department, media wing and technical team would know about this, not person in reception or a guy working in BYD cars assembly department. Don’t make yourself look silly mate. Holding a Mjolnir Xnode does’nt make you any better than a person holding 100 VET. Your motives are truly questionable. You should apologize for making this video and misleading your followers on saying that you cant find any proof about partnership with BYD. Dont loose your integrity to gain more followers by degrading a legit project which actually is working hard to make world a better place and pushing mass enterprise adoption. To say in BYD’s word about VeChain’s partnership - Need to differentiate between getting hundreds of billions of $ of digital paper wealth sloshing around & actually achieving something meaningful for society” This is the real world application for blockchain we’ve all been waiting for."
“This is a really odd video. If I walked into the Apple offices in Cupertino I highly doubt I’m getting any informations regarding their business partnerships or getting an offer to be an ambassador. If I was an employee facing you I’d be quiet to be sure. You’d be better off simply questioning the project in a video but this was just odd.”
So… This guy is walking in off the street asking for information about the company…
Hhhmmmm… I’m pretty sure if you do this to any company they’ll direct you to their website.
I’m not really sure what he expected.
Yup, good old land down under, where we eat Vegemite for breakfast and drink Sake all night while sitting in a Spa with lovely Asian girls, though the second part is probably just me cause everyone else is silly and gets married
Markets still going sideways with BTC trading near $6500, might break above it today, but not expecting anything out of the ordinary, with an expected consolidation towards and during the weekend.
XRP is dominating the price action for now up around 50% closely followed by VIBE, which appears to be getting a pump and dump or some other shenanigans.
Apple has a BTC glyph in iOS 12 (interesting they added it…)
EOS On Top, Bitcoin Moves Up In the Latest Chinese Crypto Ranking
ETN has launched it’s Instant Payment feature - wallet migration takes a little while, after which, sending and receiving ETN is instant. Electroneum ETN up 30% in the last 24 hours
XRP Extends Gains As Anticipation Fuels Rally, RippleNet To Be Used For Bank Payments
Bancor just announced the first Cross-Blockchain Decentralized Exchange. It will allow users to instantly convert tokens against its automated smart contracts.
Iota reporting about more big partnerships
VeChain Amsterdam Event Notes; Big partnerships with Oxford University, BMW, Chanel, Volvo and more
(VET support line appears to be around $0.0125 which is where I would look for an entry, but be Fishy)
We’re on the verge of the next cryptocurrency explosion, says billionaire investor Mike Novogratz on Fox News.
(OK, something I’m going to say about mainstream news, when you see something like this, the “old boys” are starting a FOMO campaign. Be Fishy)
Charlie Lee Defends Litecoin, Separates Fact from FUD
(Nice to see when Charlie gets fired up)
Genesis Vision partners up with RoboForex – Genesis Vision Blog
GVT is rallying these last 2 weeks, very close to 2X, also close to 3X since early August.
(If you have not already got some, look for the consolidation area on Saturday/Sunday. While I do think it is hyped up a bit, each time it sets a new high, it trades sideways and isn’t loosing ground yet, so still could be a near term HODL - Be Fishy.)
Augur now has 1 active user per hour. Yes, 1 single user. Usage has dropped over 90% since launch.
(You might have good technology and the right ideas, but adoption is key)
PIVX now live on XSN’s pooled staking service
Enigma Expands Their Roadmap: Towards a Privacy Layer for the Decentralized Web
Polymath (POLY) announces partnership with Blocktrade
Mysterium (MYST) - Web site update today (omg they are acyually doing something?!)
There is a lot of CDA’s being delisted from several exchanges, check your usual Exchanges for what is being delisted and be sure your not holding any or move it off. Sept 30th end of quarter exchange cleanup appears to be on a bit of a war path to under-performing alts.
Locktrip (LOC) new Marketplace Launch on Sept 30th
Internxt (INXT) X Cloud Beta Launch on Sept 30th
Monero (XMR) new Web Site launch
Nebula AI - Public Chain and First DAI APP
ZPT, WER, TPAY, NULS, ETC and many others all doing product or service launches on Sept 30th, going to be a big day! The list is quite extensive, so to keep this a summary rather than an epic, going to move on
$AUD Bulls Extend Recovery, However, Key Resistance Keeps Bearish Trend Intact, so while it has recovered up to almost $0.73 USD, it is still down from $0.81 USD in Feb and has a nice long continuous downtrend for most of this year. Most traders still going short.
Cautious Mood Has Returned to Stocks, Asian Markets Mixed. Most Asian currencies showing potential for downtrend against the USD.
Forex And Global Markets: Movement but Little Change.
Norges Bank: Norway hiked interest rates for the first time since 2011.The rate was lower than many expected. The next hike is seen in Q1 2019. The krone was sold, and it is the only major European currency that is not gaining against the US dollar today.
The Kiwi Spikes, with Focus Shifting to Retail Sales and the Pound. The NZD is looking quite bullish, especially with news of business partnerships with China.
Mario Draghi, President of the European Central Bank (ECB) has long recognised the significance of rising inflation. Printing money always leads to monetary inflation - the more Euros printed, the smaller the value of the currency. However, for underlying inflation - known as core inflation - tends to lag as it’s not influenced as much by the cheap money printed by central banks (in this case, by the ECB). The normal CPI measure contains prices of energies, food, and alcohol. These prices are driven mainly by the supply of money as they are hard assets. Eurozone’s CPI inflation rose to 2.0%, but the core CPI stayed at 1.0%, well below the ECB’s target of 2.0%. It would appear that the economic momentum in the Eurozone has reached its peak and - heading into 2019 - it may slow.
EURO - mixed - 66% short
GBP - bearish - 47% short
JPY - mixed - 55% short
XAU - bearish - but 83% long! (Gold is considered a safe haven if things are uncertain, the bearish sentiment means there is some short term money leaving Gold, but the high number of traders going long means there is likely to be more money moving into Gold before the trade cycle ends on October 8th)
Bitcoin - bearish, but 79% long!
Ethereum - bearish, but 90% long!
Ripple - bearish, but 96% long! (highest ever number of traders going long on Ripple Nipple!)
For the sentiment rating, the bullish or bearish is current sentiment (as in today’s sentiment), while the percent going long or short is near term (the trade cycle) sentiment based on when trade contracts expire.
So basically today, traders are expecting consolidation across the Crypto market, but in the near term, they are betting on moderate gains. This is basically the same as Forex, since most of these traders have a Forex backgound.
Dissin on the married folks eh?
Another interesting breakdown I found.
Crescat Capital’s Q2 letter to investors focuses on three key macro ideas that are complementary plays on the unwinding of currency and financial asset bubbles at a likely peak of a global capital cycle, the most leveraged in history:
- Shorting US stocks at proven, historic-high valuations relative to underlying fundamentals with abundant catalysts for a near-term bear market leading to a US recession;
- Shorting the overvalued and weakening Chinese yuan and China contagion plays to express the unwinding of a credit bubble that is unprecedented in scale and already bursting; and
- Buying precious metals commodities at record deep value compared to the global fiat monetary base and related miners at record cheapness to the underlying fundamentals with an increasing number of important new signals showing rising US and global inflationary pressures and a hamstrung Federal Reserve that is unable to stop them.
When the Fed keeps interest rates too low for too long, it creates financial asset bubbles that it has difficulty extricating itself from. If the Fed were to raise interest rates by 3.5% to get to the neutral rate to prevent rising inflation, it would be catastrophic for today’s financial asset bubbles. Doing so would massively invert the yield curve, crash the stock and credit markets, and create a recession. Such is the tradeoff between inflation and financial asset bubble deflation that we face today.
It is clear that aggregate US financial asset valuations are at excessive, all-time highs, by looking at the ratio of financial assets to income as shown below. Today’s US equity and credit markets valuations combined are what we call MOAB, the mother of all bubbles:
It doesn’t matter whether we have stable low inflation, inflation, or deflation, valuation multiples are simply too high today and will shrink in all cases based on history. The market is simply discounting way too much future growth and is not discounting a recession.
China Credit Currency and Credit Bust
While the mother of all financial asset bubbles is represented by US stocks and credit today, China represents the mother of all credit bubbles based on its massively overvalued currency and banking system.
In June, we showed how Crescat can perform as the China credit bubble just started to burst. Crescat Global Macro Fund was one of the top hedge funds through June YTD thanks to our significant yuan short position and other China credit bust plays. We strongly believe there is so much more to play out, especially with respect to China’s currency devaluation.
China has been the fastest growing major GDP economy in the world, contributing over 50% of global GDP growth since the Global Financial Crisis. But the China miracle has all been accomplished by unsustainable debt growth, non-productive capital investment, and a massive hidden non-performing loan problem. China’s NPLs are estimated at close to USD 10 trillion according to one respected China credit analyst, Charlene Chu, at Autonomous Research. Our analysis concurs. We published our most in-depth China credit bubble research letter last year and we believe that China is now entering a recession that would occur with or without Donald Trump’s trade war which is hastening it.
As shown in the charts below, China’s massive and unsustainable banking asset growth represents a substantially bigger banking imbalance than that of the US prior to the Global Financial Crisis and a bigger imbalance than the EU banking bubble prior to the European Sovereign Debt Crisis.
Gold is cheapest ever in history compared to the global fiat monetary base as we recently showed.
Silver is historically cheap to gold. Miners are historically cheap to their own fundamentals, and even cheaper when one considers depressed gold and silver prices today. Precious metals are the ultimate inflation hedge and haven asset of our two MOABs, China credit bubble and the US financial asset bubble burst. Too many investors fear another deflationary bust if they fear one at all. Asset bubbles will certainly deflate. But real economy deflation is the last war. The Fed has already proven in the last cycle that money printing conclusively can beat deflation. We have shown above the many signs of rising inflation today, from rising money velocity, to de-globalization, to new higher fiscal deficits from tax cuts, to Phillips Curve pressures, to Crescat and Fed models that show the Fed still way too accommodative to stop rising inflation. The Fed is currently rendered ineffective in fighting inflation because any serious effort to do so would risk bursting record financial asset bubbles.
Therefore, if we could own just one asset class to hedge against ultimately rising inflation as record financial asset bubbles are bursting, it’s precious metals. Next to the US dollar, gold remains the most ubiquitous central bank reserve asset in the world and global central banks have been net acquirers of it since it bottomed in 2015.
The recent weakness in gold combined with record speculative short interest presents a great deep-value buy today for gold.
The biggest problem of moving money into and out of Gold, is that the amount of Gold sold is 24 times the amount of Gold which actually exists. You are buying a promissory note that isn’t actually backed by any Gold.
This is why a lot of traders look for alternatives to Gold and funds are being spread over Bitcoin and other assets (Property is also popular).
However, your article is almost correct. The current MOAB is not at it’s peak yet, we are likely to see it either late next year or early 2020 from information I have been able to gather. If it extends past 2020, then things are really not going to go well.
The trigger will be something no one will be expecting.
Great points Mike,any more summaries before the weekend?
Keep stacking up on bitcoin then?
Precious metals have always been another asset class and a way of diversifying any portfolio, but SULREY cryptocurrencies are the next logical step for people especially millennial minds to diversify their portfolios? Albeit cryptocurrencies are still in their infancy.
We all know the stock market is going to go bang, I don’t want to be around to find out what that’s going to look like so crypto is my hedge. What’s your thoughts?
I agreebut I still DCA into Wealthfront (stocks,municipal bonds and ETFs) along with Crypto and Real Estate (Fundrise)
Using crypto as a hedge is a bit risky, no telling what might happen to crypto if the traditional markets hit trouble. In the recent past, when the Dow took a dip, so did most of the crypto space. However, given the crypto markets were consolidating anyway, might not be the most reliable indicator that they are linked in any way.
Interestingly, the market did not consolidate much over the weekend, in fact volume has been the highest over the weekend than it has been in the last two months. Appears we may be in more bullish territory again leading up to the end of the quarter and many traditional traders are long on several crypto projects (over 80% long on the top 3 being BTC, Ethereum and Ripple). BTC now appears to be trading in the $6500 to $6800 band, might break through and reach over $7000 before Wednesday. If this happens, those going long might start selling their positions, but we shall see.
“Experts” Now Predict Bitcoin to Hit USD $10,000 This Year (CNN)
Last night the Dodgers introduced 20,000+ people to crypto/blockchain with the first ever Crypto Bobble Head give away on the Ethereum blockchain.
XRP vs Bitcoin - Banks vs. The People (will people still use banks 10 years from now? Probably. But banks will be forced to be more competitive and transparent).
Advancements with Ted Danson (CNBC) Blockchain with VeChain (was not a bad video considering it is CNBC)
The Creator of Litecoin, Charlie Lee, Address Major Critic Strikes About Litecoin.
(while LTC is struggling on price, once the Lightning Network integrations are done, it might end up being the most used cryptocurrency on the Lightning Network)
Brave Browser Taps Blockchain Identity Startup Civic for Secure KYC
Cybermiles just released the Lity language to help devs write smart contracts on the CMT blockchain
(YAL - yet another language)
VIBE - Mainnet release today
Dragon Coin (DRG) Partnership with Ultimo Hombre announcement today
Fedora Coin (TIPS) Mainnet launch today
High Performance Blockchain (HPB) Mainnet launch today
Several CDA are being delisted from Poloniex and Bit-Z tomorrow, check your wallets if you use them.
Banca - New Product announcement Sept 26th
Ontology (ONT) Conference in Taiwan on Sept 26th
On Sept 30th (a Sunday), there is so many project updates and new products and partnerships from projects big and small, the amount is too much for a summary. Suffice to say, this could be a big week leading up to all the announcements.
USD - t’s a busy week ahead on the data front, key stats due out including September consumer confidence numbers on Monday, finalised 2nd quarter GDP numbers and August durable goods orders on Wednesday, with the FED’s preferred core PCE price index figures, personal spending numbers and finalised September consumer sentiment numbers due out on Friday.
(Given recent performance - we could be looking at another bullish week for USD)
EURO - while a relatively quiet week on the data front, key stats that will influence the EUR include business expectations figures on Monday, consumer confidence and unemployment numbers out of Germany on Thursday and Friday.
(Indicators are bearish for the EURO this week - While the EURO is at two-month highs, the YEN is near two-month lows. Keep an eye on EURO/JPY pair for trading)
GBP - stats include August CBI industrial trend orders on Monday and finalised 2nd quarter GDP and business investment figures on Friday. In one day (last Friday), sterling lost all of the gains that it had built up during the week and this shows just how sensitive the currency is to Brexit news.
(Mixed sentiment on GBP)
JPY - stats through the week include prelim industrial production, retail sales and inflation figures due out on Friday, with focus likely to be on the retail sales and industrial production numbers, though direction through the week will ultimately be hinged on market risk appetite.
(Mixed sentiment on Yen)
AUD/USD presently struggles with an intermediate resistance-line, at 0.7300, in order to justify its strength. If the pair reverses from said barrier, the 0.7260 (trading at now), the 0.7245 and the 0.7230 are likely following support lines, but broke through that support last week, might see it again this week. (#shtcoin)
USD/CAD initially traded lower on the back of stronger retail sales but trade headlines prevented loonie from extending its gains. Canadian Foreign Minister Freeland came back to the U.S. to continue talks but on Friday the White House said they are getting very close to NAFTA deal that involves Mexico and not Canada.
EURO - Mixed - 64% Short
GBP - Bearish - 63% Long
JPY - Mixed - 58% Short
AUD - Bearish - 52% Long (many traders expecting good end of quarter results, I doubt it though)
XAU - Bullish - 88% Long (Money going back into Gold again)
Bitcoin - Bearish - 79% Long
Ethereum - Bearish - 92% long! (highest ever)
Ripple - Bearish - 98% long!!! (landslide going long for last week of Sept!)
The indicators on Ripple and the shear landslide of everyone going long is positive for the Crypto market space. So, some short term consolidation today, then I suspect we could be headed into Bullish territory for most of the week.
When should you re-enter a position?
Regarding XRP or Crypto in general?
In General the market “should” consolidate a bit today, does not mean all the CDA’s will, but the “majority” should if the market is to be healthy for growth this week. The cycles need to happen, otherwise investors get nervous.
Edit: it is trending upwards though, so it may not happen as much as it needs to.