DAILY CRYPTO UPDATE 09-04-21
We did have a little pull back there overnight and it did drop drop down a little bit, but was able to hold up 49 000 pushing back over 50. Now we do have a bit of a triangle forming here a little bit of consolidation. If we can see bitcoin break above 50 500, we could see it start to push up some more, but looking pretty good, we did. We did a little rejection. This also could be a head and shoulders pattern right here. This would be the head shoulder. So if we do get rejected on this triangle, we will see a dump back down to that 50 day, moving average at 48.99, basically 49.. If that doesnt hold, then it could be a little rough and we might see a drop back down to 47 and a half, but as of now bitcoin still testing were making higher highs and higher lows. So thats, actually some bullish indicators there that this is probably going to break out in the next couple of days. Ethereum was able to break over 4 000 momentarily, but getting a pretty hard rejection off of that area. Im not surprised pretty much went straight up to it once we broke over this 3300 area, so it is below the 10 day. It needs to hold up support right here, the tops of these candles or resistance, and that was pretty decent resistance. So if that can now turn into support, which you see is making somewhat of a triangle, then well see it break up out and re test 4000.
seeing bitcoin retesting 50 000. I would say, after this consolidation well see another test of 4 000 on ethereum, and we very well could break over it and move on up to the 4500 test. Those previous highs, those all time highs, but if the market continues downward well see it there and back to this 3600 area at the 50 day moving average. So we do have some more runners. Polly has continued to explode all the way up to 1.35. Having a little bit of pullback overnight and yesterday, but starting to push back up to a dollar again so rebreak of a dollar that could run its currently up 40 stormex breaking out. Look at this guys, ive been on store mix for a while breaking all the way back out up to five cents and ive been saying: theyve got a lot of stuff going on above all emas. This is nice. Movement here looks like were going to get another push up as its trying to hold this four cent to four and a half cent area. As support see, storm x continue to move file coin. Finally, breaking up to 100. This is when i was swinging for a while to try to get this breakout just took a very long time longer than i thought the whole month of august, but almost up to 100. I dont see why it wouldnt get up to 100 at this point, but we probably will see a pullback when we hit 100, maybe back down to and lets say 85, maybe even 80, but its a little bit of the port right there that 85 area.
So if filecoin continues to run and breaks through 100, which would be this resistance line right through here, then we could see it push up all the way to 125.. This is a very low circulating supply, so when it gets a lot of buy in volume it can really rip polygon matic pushing back up to that 165 area. Polygon needs to break over 175 and then we can see it up to two so cardano right now. Starting to drop out of this triangle, starting to look a little bit bearish, it needs to pop back up above this 10 day, moving average if its gon na break over three. If not, it could come back down to 250. im doing more research on it and theres a lot of mixed feelings about cardinal in the crypto community. So i may lighten some more of my load on this one because theres been plays that have broken out way. Bigger than cardano too, like we saw solana, go from 30 to 150 over a small amount of time. I dont know i still like cardano. I just want to do some more research, see if theres any dirt that or something that im missing, that its holding this back from really taking off. I was really expecting it to break three and, with this little pull back here, it may not but well see cosmos. This thing is making a very nice triangle right below that 25 area, and i expect it to break out.
I am getting very bullish on cosmos and some of the money i took from cardano ive started putting into the cosmos ecosystem im currently staking multiple coins from in the cosmos ecosystem. There is some very good interest to be gained from staking akt, which is in the cosmos ecosystem, which you can see is breaking out of this downtrend right now. 45, if you stake with the kepler wallet so thats, where im starting to lean heavier on then cardano. Unless something major changes here, assuming cardona, but there is actual progress coming out of the cosmos ecosystem, whereas cardano is still behind some of these other blockchains cgld has pulled all the way back from its big run to 11. Currently, right above the 50 day, moving average looks like the selling is slowing down were getting a bit of an indecision candle. This may be a good swing entry if we see some bullish momentum just a little bit on the next candle popping back up above the top of this red little doji indecision, looking candle. This is how cgld likes to move. It has a rip consolidates for a while another rip consolidates for a while, so yeah. I may even look to swing this myself. If i see it hold up tonight, but good entry as its down into 50 a lot cheaper. Now, if it cant hold here, it could drop back down to four dollars at the 200 day, but its been holding the 50 thus far on this move, so i did get out of ctsi its just not breaking out for me.
The way i wanted, it still does look like it may break out its just taking a really long time and were not seeing that big of a movement not much attention on cartesia. So if you like a consistent grower, it could be one to stay in, but as far as the big explosions, its just not having any in a while polka dot, coming back up testing that top resistance of the channel there, this 34 area getting a rejection. So it is getting a little bearish may pull back down to 30 area at that 50 day, moving average before you see it come back up and test again, but looking pretty good, i like where its at eos is one. I was mentioning about this triangle and not moving that fast and having some potential and you can see its broken out and shot up to 580. So if you did get in this, nice job looks like its trying to hold some support at that 575 area. If it can hold there, it can make its way on up to six and maybe even higher. So i talked about solana earlier, but you can see it hit that 150. It is holding up the 10 day as of now if it continues to hold its 10 day moving average. It could go up and test 150 again, but at this point these moving averages are really spread out, so thats a good indicator that its getting over it extended.
It may test, i dont know if itll break out and if it does – and i dont know how much more itll have. But i think this is going to have to cool off for a little bit a couple of weeks or so before. It starts moving again because this has been a very massive move and that does look like a peak, so theres the uptrend and if thats the peak itd be a couple of weeks and it would come back down, meet the uptrend somewhere on to the news. This headline stuck out to me as im big on pushing for adoption of cryptos amongst the globe twitter, reportedly to enable adding bitcoin and ethereum addresses to profiles so thats good. I mean we could go through and read all this, but its going to be a new addition to their tip jar service, so people will be able to tip the influencers people that they follow and like through bitcoin or whatever other cryptos. They add, as time goes on, because, usually once you start adding bitcoin and ethereum, you see other coins getting added, no matter what the situation happens to be its like. We have asia, nft and d5 conference will bring together global unicorn companies. So this is coming up soon, yes september, 9th, through 11th virtual conference. This could be something to check out see who they got coming through. There we got. The conference was organized by cc global, the blockchainer supported by american blockchain and cryptocurrency association, blockchain association, singapore, india, blockchain alliance, hong kong, blockchain association and boule international.
So we got a lot of people in the crypto world going to be part of this. So you can find this on cryptonews.com if you want to read more into it and see how to check it out. So it looks like we also have some news on xrp ripple its going to resume trading on the japanese exchange. Now i know they use ripple a lot in japan thats one of the bigger cryptos there, but you can see this sec war continuing and good for ripple, fighting back against the sec, so im still gathering feedback around the community to see.