22nd April 2023 > > TA and Ukraine.

tl;dr

No politics here at the CCC, but a little bit of techie nonsense just for fun.

Market Snap (at time of writing)

Market Wrap

The pull-back continues with some profit taking from 2022 buyers, and panicky loss crystallisation from the latest cohort of 2023 buyers.

Long-term investors employing DCA (dollar cost averaging) love to see regular sell-offs to help boost their bag.

Occasional Series – Nothing to do with Dominic Raab at all

After 25 years of working in the city, mostly on a trading desk as a manager, I think I am qualified to say that I know what a robust workplace looks like.

Racist comments were only ever made by black and brown people.

Homophobic comments were only ever made by those who were not straight.

Misogynistic comments were only ever made by women. Or those with a cervix if you prefer.

A trading desk is packed full of strong characters who are smart, enjoy life, have tons of laughs all day long, and can make money for the bank. There is no other impediment to working on the trading floor.

If that isn’t your bag, then that is ok. Do your own thing.

But if you want to work in a library, go and be a librarian, not a civil servant on the front line of politics.

Curious Cryptos’ Commentary - TA (Technical Analysis)

This is MOST DEFINITELY NOT investment advice.

From a source I will not name here:

“BTC high around 28373, low around 27815. The market is volatile within the day, and the needle is inserted twice to test the lower support. At present, it has returned to the previous shock platform. This position has strong support. As long as there is no further crash, the short-term is expected to maintain the shock trend, 27850-28350 range shock Mainly. The daily line level closed the big Yin line on Wednesday, directly retracting last week's gains. At present, the K-line has fallen below the Bollinger middle rail and is under pressure from the Bollinger middle rail, and the MACD has increased in volume. The opening of the 4-hour Bollinger Band runs downward, supported by the Bollinger lower rail 27800, MCAD begins to moderately increase volume, and KDJ runs around 20. Generally speaking, BTC is currently running along the upper edge of the previous box. It is in the long-short watershed. If it does not break through, it will rebound upwards and fluctuate. If it falls below 26500, the lower edge of the previous box will be seen. The lower part focuses on the support of 27700-28000, and the upper part focuses on the pressure of 28400-28600.

It is recommended to do long positions around 28000, with a target of 28600-28900.

Wet storage near 28800 is short, the target is 28600-28400.

The market is ever-changing, and the specific operation is mainly based on real-time strategies.”

…

Ho hum.

I am beginning to wonder if a Venn diagram of techies and conspiracy theory advocates is just one circle.

…

And this is the graph which apparently justifies the nonsense spouted above:

Curious Cryptos’ Commentary – Ukraine

Shortly after the EU adopted its world-class and world-beating crypto legislation MiCA (Markets in Crypto Assets) Ukraine announced it will adopt the same rules and regulations in their entirety.

Ukraine was awarded candidate status to join the EU in June 2022. This pledge to adopt MiCA is probably motivated by a desire to showcase Ukraine’s European credentials and to bolster the EU application process.

If only the UK would follow the same path.

Not in the sense of re-joining the EU (Brexit is done and dusted folks, get over it – there is zero chance of a future referendum being in favour of adopting the Euro) but in the sense that leaving the EU allows the UK to adopt MiCA, then change it to improve it without having to ask permission from the faceless bureaucrats who inhabit the corridors of power in Brussels (and Strasbourg for four days a month).

Crypto tax dollars are already accumulating in the EU because of MiCA. The UK needs some of that action.