Good morning/evening/night guys. As every Monday, find here your weekly dose on market analysis, the most relevant industry stats, and our best tips to profit from this exciting market while learning from it!

Bitcoin

Bitcoin falling wedge we have been tracking since a week is finally playing out.

During the weekend it reached the final squeeze with the testing of the $43,000 range. But as we can see on the 4Hr time-frame it's already breaking out.

From here I'm expecting at least a short-term recovery with a target on the $50,500- $52,000 range as the first stop.

Big Caps index

At the same time, checking into the Big Cap Index for Altcoins (integrated by ETH, XRP, LTC, BNB, EOS, TRX, XLM, ADA, and LINK:We can see another major falling wedge getting squeezed here after finding a possible double bottom on the horizontal range. A breakout here over the horizontal resistance (around 14,800 sats) and the mentioned wedge would enable a further bullish wave on the altcoins indexed.

If we check into lower timeframes we can see how it's also breaching up a local downtrend resistance. Ad we can also appreciate the relevance of the 14,800-15,000 sats.

Mid Caps index

Now switching to the Mid Caps Index we can see a stronger reaction, holding better the last BTC shakeouts.As we can see here it continues to struggle on the 3,300 sats horizontal resistance, which has been playing out for 2 YEARS. A breakout over it would open the can for further bullish moves

On the daily timeframe, we can see how hard is the mentioned resistance range. Still, it continues looking full bullish to me after the breakout of the weekly downtrend resistance a few days ago. And also respecting the main uptrend support going on for 3 months.

Skin in the game

How to achieve creativity in trading?

Originality and creativity are the main factors that distinguish the high from the average performing trader. You can not become an outstanding trader by just following the textbook stuff that 99% of the other traders also know. You need to be able to design your own unique trading strategies and find distinctive market opportunities that are not apparent to others. Those strategies or opportunities can be some patterns on the chart, that shift demand, and supply of the market, or it can be a combination of various trading indicators that may give you a profitable trading strategy that others don’t know. Creativity is mostly an intrinsic characteristic of a person but it can be developed by following techniques.

• Sustainable focus

Focus is something that can transform an average mind into a great mind. The more information you are able to process with focus, the more successful you can become. With an extreme focus, you might be able to find some unique patterns and spot some unique price actions that can help you in developing a new trading strategy.

• Digging deep into charting tools

There are several charting tools out there with thousands of indicators that you can use in your trading strategy. For example, while in leverage trading in small timeframes you might only want to long an asset if RSI is oversold, there is no bear diversion and the price is at some important Fibonacci level. You can combine various other indicators to find a winner for you.

• Finding price relationships

Finding price relationships between various assets sometimes gives you a new trading strategy to use. Like these days, Bitcoin is following major US stocks since March. On the other hand, the decrease in the dominance of Bitcoin market capitalization gives you an indicator of possible growth in the altcoins price. In the same way, you can compare various charts and price patterns and there are chances you might come to know a pattern that others are not yet aware of.

• Attention to detail

Attention to detail is very important in whatever you do. In basketball, running and defense while in football it's often the blocking and tackling that win the game which can only be done properly if you have done proper homework on every player of the opposite team. The case is the same with trading. An average trader might only look for a setup only but a great trader will have rules for processing, managing, and sizing the trade apart from the setup.

• Adapt to change

The market never remains the same, as a result, your profitable strategies become obsolete. But if you have the ability to adapt to the changing conditions of the market you can have an extra edge over other traders who are still trading the same setups and patterns that they were trading various years ago. It is an ongoing creative process that fuels our adaptation to evolving market conditions.

You need to have a sustainable competitive advantage over other trades that the creativity factor can provide you. Always look for an edge, it will keep you one step ahead of others.

Story of the week

Brian Armstrong

According to Forbes, he has a stake in Coinbase, which is worth a reported $1.3bn. Let’s take a deeper dive into the co-founder and CEO of Coinbase!

Coinbase was founded in June 2012 by Brian Armstrong and Fred Ehrsam. Blockchain.info co-founder Ben Reeves was part of the original founding team but later parted ways with Armstrong due to their different stands on how the Coinbase wallet should operate.

The remaining founding team enrolled in the summer 2012 Y Combinator startup incubator program (An American seed money startup accelerator). In October 2012, the company launched the services to buy and sell bitcoins through bank transfers.

In May 2013, the company received a $5m Series A investment led by Fred Wilson from the venture capital firm Union Square Ventures. In December the same year, the company received a $35m investment from the venture capital firms Andreessen Horowitz, USV, and Ribbit Capital.

In 2014, the company grew to one million users, acquired the blockchain explorer service Blockr and web bookmarking company Kippt secured insurance covering the value of bitcoin stored on their servers and launched the vault. System for secure bitcoin storage.

Throughout 2014, the company also partnered with Overstock, Dell, Expedia, Dish Network, and Time Inc., allowing those firms to accept bitcoin payments. The company also added bitcoin payment processing capabilities to the traditional payment companies Stripe, Braintree, and PayPal.

In January 2015, the company received a $75m investment, led by Draper Fisher Jurvetson, the New York Stock Exchange, USAA, and several banks. Later in January, the company launched a U.S.-based bitcoin exchange for professional traders called Coinbase Exchange.

Coinbase began to offer services in Canada in 2015, but in 2016, Coinbase announced it would halt services in August after their Canadian online payments service provider Vogogo.

In May 2016, the company rebranded the Coinbase Exchange, changing the name to Global Digital Asset Exchange (GDAX). In July 2016, they added retail support for Ether.

In January 2017, Coinbase obtained the BitLicense and licensed to trade in Ethereum and Litecoin from the New York State Department of Financial Services. In November 2017, Coinbase was ordered by the US Internal Revenue Service to report any users who had at least $20,000 in transactions in a year.

In February 2019, Coinbase announced that it had acquired “blockchain Intelligence Platform” Neutrino, an Italy-based startup, for an undisclosed price.

The acquisition raised concern among some Coinbase users based on Neutrino founders’ connection to the Hacking Team, which was accused of providing internet surveillance technology to governments with poor human rights records.

On March 4, 2019, Coinbase CEO Brian Armstrong said his company “did not properly evaluate” the deal from a due diligence perspective. Thus any Neutrino staff who previously worked at Hacking Team “will transition out of Coinbase.”

In April 2019, a UK corporate filing stated that Coinbase’s non-U.S. revenue grew 20% to €153m in 2018, resulting in a net profit of €6.6m. Coinbase UK CEO Zeeshan Feroz said the company’s non-U.S. operations accounted for nearly one-third of its overall revenue.

In August 2019, Coinbase announced that it was targeted by a sophisticated hacking attack attempt in mid-June. This reported attack used spear-phishing and social engineering tactics (including sending fake e-mails from compromised accounts and creating a landing page).

At this point, Coinbase is one of the most trustworthy exchanges, and the number of new accounts on Coinbase is generally seen as a sign that the market is going for a bull run again.

Have a nice day, see you soon!Rand