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Bitcoin- Potential “Eiffel Tower” pattern, says Joe Friday

September 15, 2017 kimblecharting 0

Legionary investor Sir John Templeton, once shared that outside of the Bible, he had learned more from one book than any other. When he shared this idea, I couldn’t wait to find out what book it was. Below is that book

extraordinary popular delusions and the madness of crowds by john templeton, chris kimble post

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When it comes to popular delusions and charts, the “Eiffel Tower Pattern” can be important to recognize. The point of the Eiffel Tower Pattern is this.…. if you see the left side of the Eiffel tower in a chart, odds favor you will see the right side of the tower as well, somewhere down the line!  Below are examples of Eiffel Tower patterns over the past 20-years-

extraordinary popular delusions and the madness of crowds by john templeton, chris kimble post

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One chapter in the Popular Delusions book talked about the “Tulip Mania” in Holland. This week Jamie Dimon of JP Morgan compared Bitcoin to the Tulip Mania of the past. In time we will see if he is correct. Below looks at the pattern of Bitcoin that we shared yesterday on Stocktwits and Twitter

Bitcoin weekly BTCUSD, Chris kimble chart

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Joe Friday Just The Facts– Potential “Eiffel Tower Pattern” could be in play for Bitcoin. If investors experience the left side of the Eiffel Tower Pattern, it is possible to experience the right side as well.

Will be interesting months from now to see if the right side of the Eiffel tower is experienced. An important test of support is taking place this morning at the 3,000-3,100 zone! Important for Bitcoin bulls that this support holds!

 

 

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August Industrial Production Crashes Most Since May 2009 – Harvey Scapegoated

September 15, 2017 Tyler Durden 0

Amid a collapse in US auto sales (and slumping retail sales), August Industrial Production collapsed 0.9% MoM. This is the biggest monthly drop since May 2009!

Industrial production declined 0.9 percent in August following six consecutive monthly gains.

 

Annual IP growth also staggered to 6 month lows..

Hurricane Harvey, which hit the Gulf Coast of Texas in late August, is estimated to have reduced the rate of change in total output by roughly 3/4 percentage point. The index for manufacturing decreased 0.3 percent; storm-related effects appear to have reduced the rate of change in factory output in August about 3/4 percentage point.

Industries with the largest storm-related effects were petroleum refining, organic chemicals, and plastics materials and resins…

Just wait for the v-shaped recovery from this (or not).

And finally, while Industrial Production remains 1% below its Nov 2014 highs (and unchanged from its Nov 2007 highs), The Dow Jones Industrials Average is up 30% from the Nov 2014 levels (and 57% from 2007 highs)…

 

So to sum up – IP collapsed in August, officials want to blame Hurrican Harvey (which makes sense), but even excluding Harvey’s effects, IP would have dropped 0.15% – missing expectations of a 0.1% gain by 0.25 percentage points (i.e. it’s not just Harvey!)

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Copay Wallet for Dash Enters Closed Alpha Testing Stage

September 15, 2017 JP Buntinx 0

There can never be enough proper cryptocurrency wallet solutions. This is especially true when it comes to some of the more popular altcoins. Keeping funds in an exchange is no option if you want full control over the money. Copay, an open-source wallet solution, will soon get a Dash version. This new project is currently … Continue reading Copay Wallet for Dash Enters Closed Alpha Testing Stage

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Copay Wallet for Dash Enters Closed Alpha Testing Stage

September 15, 2017 BitNewz.net 0

There can never be enough proper cryptocurrency wallet solutions. This is especially true when it comes to some of the more popular altcoins. Keeping funds in an exchange is no option if you want full control over the money. Copay, an open-source wallet solution, will soon get a Dash version. This new project is currently … Continue reading Copay Wallet for Dash Enters Closed Alpha Testing Stage

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Ichidan is a new Network Monitor for Tor Hidden Services

September 15, 2017 BitNewz.net 0

TheMerkle Ichidan Darknet SearchEven though the darknet is not accessed by most internet users, there is still a lot of valuable information to be found on all of these platforms. Finding the right content can be a bit challenging, though. Thanks to new search engines such as Ichidan, that becomes slightly easier. It is not exactly the Google of the darknet, but it certainly has a lot of value to the right people. Ichidan is a new Darknet Search Engine Despite what most people would like to think, there are search engine-like tools for the darknet. Many people would assume people keep a list of

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NZD/USD Intraday technical levels and trading recommendations for September 15, 2017

September 15, 2017 Forex analysis review 0

Daily OutlookIn February 2017, the depicted short-term downtrend was initiated around the depicted supply zone (0.7310-0.7380).However, a recent bullish breakout above the downtrend line took place on May 22. Since then, the market has been bullish as …

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