Exploring Time Series Insights queries with Postman
As with any other service in Microsoft Azure, there are RESTful APIs to interact with. Time Series Insights (TSI) is no exception. One of the best ways to explore the Azure REST APIs is to use…
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Weekly Technical Views on Cryptocurrencies
Exhibit 1: Daily Chart of Bitcoin
BTC/USD (CMP: $5250)
With passage of time, Bitcoin is consolidating its early April gain and that in itself is extremely bullish in intermediate term. As prices are not showing any significant weakness, we are expecting the uptrend to continue.
The adjoined chart in exhibit 1 shows that a formidable base was formed in this premier Crypto pair in the three month period from Dec 2018 till Feb 2019. The subsequent breakout assumes the pattern of a symmetrical triangle and looks very credible.
Recently, in the month of April so far, Bitcoin is showing a similar (though smaller) symmetrical triangle as shown in exhibit 1. The breakout is imminent and it is more likely to be a continuation of the move that initiated in late February/March. As long as it stays above $5000 regions, this view remains intact.
Ripple/USD (CMP: $0.32)
It is very interesting to see that Ripple is not an active participant in the bullish frenzy of the sector. While Bitcoin, Ether and many other crypto pairs making new 6 month high and putting up significant strength, Ripple is finding it hard to absorb excess supply.
The daily chart of Ripple as shown in Exhibit 2 is an evidence of the fact. The blue horizontal line at $0.33 depicts an important resistance line, that was once breached but it failed to stay above that. At present Ripple is trading comfortably below this resistance line and chances are higher that it could be going even lower from here. One could therefore initiate a short position in Ripple at present price of $0.32 with stop loss at $0.332 and target $0.30.
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