Episode 11 ETH and UBQ Technical Analysis

in #cryptocurrency2 years ago (edited)

Hello there everyone, I hope you're having an awesome Thursday today!

Little interesting lately with the unfolding of the petro dollar and now Venezuela is looking at potentially launching another gold backed cryptocurrency... Iran seems to also be jumping on the bandwagon to raise some extra capital as well.

Eth had a nice bounce in a zone I personally wasn't expecting however we also have a very small gap that has formed on the daily which is something to be aware of.

UBQ is actually at a decent level with a nice bounce off an area of support allowing for a trade to be taken if one so desired. That being said in order to get back into our lowest reload zone (78.6 fib level) we do have a little lower to go.

Anyways, I do hope everyone enjoys it, by all means all comments are welcome, hopefully I can offer a bit of a different perspective here for everyone and help make all you guys some money!

Remember, always buy the dip and sell the lower dip people!

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Dearly looking forward to that Petro-currency from Venezuela. I had to invest in it whatever I have because it is gold-back.

Interesting take, do you believe that funding the petro currency may also be funding a dictatorship?

Also do you believe that having a gold backed cryptocurrency is important? If so what do you think of something like this?