Weekly BulletinHello folks, Hope you've all had a great week. Let's get right into it. JPM CoinThe first cryptocurrency created by a major U.S. bank is here! (and by here, I mean not here, and that they're still working on it, and you probably won't be able to use it anytime soon). JPMorgan Chase is planning on launching JPM Coin to speed up payment settlements. Let's take a took at JPMorgan Chase has to say about their coin.
You heard it here folks, it be will operable on all the blockchains. ALL THE BLOCKCHAINS. Okay, got it, so it's basically a stable coin representing the U.S Dollar. Do we call this JPM Coin a cryptocurrency? I say yes. I don't usually agree with Ari Paul because he usually says some wild shit. But I agree with him here. Create JPM Coin to further establish Bitcoin, I'll take it. So where are we now on the 5 stages of grief? With this JPM Coin, we're finally half-way through "Bargaining." A monumental step forward.
If you want to listen to more about this topic, here's a great talk by Lord Andreas about Bitcoin, banks and the five stages of grief. Ahhh folks, what a day to be alive. Nasdaq adding Bitcoin and Ethereum Indexes to its Global Index ServiceStock exchange operator Nasdaq is adding indices for bitcoin and ethereum to its global data service later this month. Cool stuff, the acknowledgements just keep coming. Market SentimentTechnicalsBitcoin (Daily Overview)Not much action here, bitcoin has been ranging all week. The consensus among traders is still that the 3k support will be broken. I'm still bearish since the 50 SMA resistance has not been broken. Bitcoin (4h Support/Resistance Levels)Resistance 2: ~3,935 Bitcoin (4h Volume)Still seeing bearish divergence that started last week. Expecting downside. Bitcoin (Macro Overview)Below are the 3 most common bottom scenarios.
As of Feb 17, 2019 my confidence level are: A bottom between 1,700 and 2,600 = about 70%. Recommended ReadingsJPMorgan just killed the bitcoin dream
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