Hey guys,

I’m just about to race out the door to dinner, but I’ve written the content to today’s intraday focus blog and saved it in drafts below.

Now I know that your browser saves drafts, but Steemit really needs some sort of safer, more user friendly offline draft editor. If you’ve ever lost an epic post trusting this system, you know what I mean!

Do somethinggggg, @ned!

Cryptocurrencies Markets

Getting straight into it, one of the masternode coins I’ve gotten into recently is SmartCash. It’s a cool little project with plenty of potential upside at these prices.

With all the worry about how governments will crack down on privacy coins, SmartCash has removed the privacy layer in order to remain mainstream. A very intelligent move by the team if you ask me.

But there had been a rumour that the team was looking at what they call a ‘sister coin’ with full privacy enabled. This rumour came to fruition today when the following announcement was made on their Twitter:

These new privacy coins airdropped to SmartCash holders? Yes please!

Check out @decentralizd’s thoughts on the coin as he takes a drive while recording a YouTube video:

He’s not in the dev team or anything, but he’s a prominent member of the SmartCash community and it’s worth listening to what he has to say on the coin.

It wasn’t related to this particular video, but on one of my side Steemit Discord chats today, I had a good laugh when @bulleth couldn’t believe people make YouTube videos while driving and don’t kill themselves in accidents.

I tend to agree haha!

For some reason I can’t get a SMART/BTC chart to show up on my TradingView app, but it works through HitBTC. This is why the quality is a little shit, but bear with me and I’ll see what I can figure out moving forward.

Anyway, let’s have a quick look at the charts, starting with the higher time frame daily:

SMART/BTC Daily

You can see that price had that ridiculous rip early on and then has come back down to settle at a more fair price just like every other coin out there.

I’ve drawn an obvious higher time frame support/resistance zone here and price is continuing to respect it. This is the level we want price to get above, but it’s certainly looking like a bounce here on the news.

Stepping down into an intraday hourly chart and we can see after holding the higher time frame level, price has then retested this area of previous short term resistance as support:

SMART/BTC Hourly

This is exactly the sort of price action we want to see and gives tight risk:reward if you’re looking to trade it.

I just love how just like in yesterday’s oil trade, price was already waiting at that key level when the news hit and sent it higher.

Technicals leading fundamentals once more.

Forex Markets

Just finally, ah yes, welcome back Forex chat. I’ve missed you.

I’ll be closing my Cable shorts today. Take a look at the zone that price has just hit on the higher time frame chart below:

GBP/USD Daily

There might be more in it, but the risk reward that I’ve been able to extract from 2 positions within this trade has been epic.

I’m not giving that back now that price has hit the next level of higher time frame support/resistance.

This has been a killer trade and I hope you also made some money tailing. Have a great night!

✌🏻.

Return from SmartCash Drops News of a Privacy Focussed Sister Coin and I’m Closing my Cable Shorts to forexbrokr's Web3 Blog