Understanding the Current Standstill in Cryptocurrency Markets aCryptocurrency Prices Aren't Moving: Cryptocurrency values, especially Bitcoin, have been staying about the same recently. When prices don't change much, fewer people want to buy or sell them.
Less Buying and Selling: People aren't trading as much on big cryptocurrency websites like Coinbase and Binance. That means they're not buying or selling as many cryptocurrencies as they used to.
Companies Are Feeling It: Some businesses that help with cryptocurrency trading are doing less business in the United States because there's not as much trading happening.
Trouble for People Who Invest: When fewer people are trading, it can be tough to buy or sell cryptocurrencies at a fair price. This can cause problems for people who invest in them.
Investments in Cryptocurrency Companies Are Down: Less money is being put into cryptocurrency companies compared to companies that work on AI and machine learning. This shows that investors are more interested in AI right now.
Hope for the Future: There's a chance that good things could happen in the future, like getting approval for a Bitcoin investment fund and an event that could make Bitcoin worth more. But there are also problems to deal with, like rules and legal issues.
People Are Still Positive: Even with these challenges, many people still believe in the future of cryptocurrency. They think it's important for regular people to get involved again to make the cryptocurrency market better.
To sum it up, cryptocurrency prices are staying the same, which makes people trade less. This affects companies and investors. More interest is going toward AI, but there's hope for cryptocurrencies with possible future changes. Despite difficulties, people are optimistic about cryptocurrency's future.
Coin
COIN - Further Lows On The PlateThe last chart i COIN I showed you (see linked) was a nice play. Will this one cooperate too?
Let's analyze the chart:
The white Fork's CL was reached.
It came down hard and fell beyond the L-MLH.
We see the orange Fork, a pullback Fork.
Price struggled to jump above it's CL a view days ago, and now opened and closed below it, AND below the white Forks L-MLH.
Because I want to give this trade a little room, I initiated an Options Strategy by combining Short & Long Spreads.
You can see in the Black Window (Graph), there is plenty of room to let it go against the initial idea.
The B/E point is at the $85 short Call.
When time passes and price would stay exactly where it is now, the position would create a little profit.
If price is going up and stays between the horizontal line (yellow Arrow in the Graph), we profit.
If price of COIN starts to fall, we make profits along the dotted white line.
So, what's the benefit of this trade?
Why not play it directional by just shorting COIN?
1. There's a time decay involved.
My short Call-Debit-Spread generates money, every day by decaying in value.
2. There's the directional aspect.
If price cooperates, then the position profits from the "right" movement AND 1.
Downside?
If price MOVES (it HAS to move) in the wrong direction above $85, then I loose with both positions.
Luckily I can manage this options strategy when ever I want. I can open and/or close Spreads, I can add or remove Legs in favor of my position. I can add Stocks Long OR Short.
Too complicated?
I learned, that success does not just come from a 1-Trick trading Setup/System. If you want to survive in to-days markets, you have to learn, adapt and never stop this process.
I personally like to have as many possibilities to skin my Cats as possible.
I'm a Nerd, a Tr8dingN3rd and I live for what I do §8-)
Cryptocurrency companies vs Bitcoin📉This graph shows the average price of the main companies in the cryptocurrency sector, and their correlation with Bitcoin.
I follow the same logic for crypto ETFs, in which I analyzed this link:
The correlation shown here is a little lower compared to ETF's.
🐔I think that the price will make a hen fly, and then fall more strongly🐻.
Coinbase ($COIN): Opportunity or failure?In mid-long term we are not so much bearish about NASDAQ:COIN and we think that the bulk of the descent has already been done. Although potentially a bearish structure (wave 5) could still be missing, by the end of 2023 we expect a rally around 110 area . At this moment we are obviously not talking about trading but about some interesting investment opportunities.
Of course we can't help thinking about what happened last week, but at the same time we think that sooner or later the Company will be able to meet all the clarification requests from the SEC.
Trade with care!
Like 🚀 if my analysis is useful.
Cheers!
BNB Binance Coin PT| Binance vs SEC Lawsuit | Whales DumpingIf you haven`t read my article about Binace being the new FTX:
The you need to know that Binance disputes the SEC's allegations of mishandling customer funds, deceiving investors, and violating securities laws.
The legal battle between Binance and the SEC has sent shockwaves through the cryptocurrency community.
Binance and its affiliates assert that the SEC is overreaching its jurisdiction on digital assets, especially without any clear legislative guidance from Congress. The original lawsuit, filed in June, accused Binance of unlawfully listing unregistered securities.
Historically, the actions of whales have been instrumental in shaping the price movements of Bitcoin and the broader cryptocurrency market.
Non-whale addresses, those holding less than 100 BTC, now account for over 41% of the total Bitcoin supply. Meanwhile, whales, entities holding between 100 and 100,000 BTC, have witnessed a decline in their collective holdings to 55.5%, marking their lowest ownership level since May.
The decrease in whale holdings could signal a potential change in the market's dynamics, potentially leading to increased volatility and uncertainty.
These developments collectively cast a shadow over the cryptocurrency market's near-term prospects.
In this context, my price target for BNB Binance Coin is $184.
Looking forward to read your opinion about it!
Bitcoin dips, but on-chain data hints at a potential bull run.Bitcoin briefly dropped below $27,000, hitting a low of $26,940 after failing to surpass resistance at $27,393. Earlier, it reached $27,500 on news of Nomura's Bitcoin adoption fund for institutions.
On-chain data from Santiment shows increased Bitcoin activity since April, especially above $27,000. There's also a rise in dormant Bitcoin movement, indicating wallet activity when prices exceed $27,000.
In September, daily active Bitcoin addresses averaged 1.1 million, the highest since April, suggesting improved network usage.
Analysts suggest this growing on-chain activity might signal a return of the Bitcoin bull run. Currently, it hovers around $27,062, down 0.62%.
Major Ethereum Holder Shifts $20 Million to Binance Amidst SpikeA notable Ethereum whale address moved 8,000 ETH ($13.24 million) to Binance, following previous transfers of 4,000 ETH, totaling $20 million in 20 days. The address initially received 64,000 ETH worth $106 million, raising speculation about its connection to czsamsunsb.eth.
Additionally, a surge in Ethereum call options trading on Deribit was reported, with contracts valued at $150 million. This heightened activity suggests significant interest from large traders (whales) in Ethereum price movements.
$COIN - $31.70 Price Target with MAJOR Bear Flag Setup A major bear flag has setup nicely with NASDAQ:COIN stock. The price target is at a previous support area of around $31.70. Short at the break of flag for a potential win at that level. Remember the price target's measured move is the length of the pole of the flag pattern.
Trade with gold 18/9The cryptocurrency market had a quiet week, but Stellar's XLM saw an 11% drop after a high-profile commercial featuring Idris Elba.
Swan Bitcoin faced a hack, leading to suspicions about Ripple's acquisition of Fortress Trust.
Binance CEO CZ made a $3 million donation to Moroccan users while facing SEC litigation, and Binance's U.S. CEO resigned.
OneCoin co-founder was sentenced to 20 years for a $4 billion scam.
Google Cloud partnered with LayerZero for transaction verification.
SuperRare announced layoffs, but the overall crypto industry is positive with Visa supporting USDC on Solana and the London Stock Exchange using blockchain for tokenized financial assets.
DOGE - It is a Matter of Time ⏱Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
DOGE has been overall bearish trading inside the falling wedge pattern in blue and it is currently approaching the lower bound / blue trendline.
Moreover, the zone 0.055 - 0.06 is a strong support.
🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.
As per my trading style:
As DOGE approaches the lower blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
trade with gold 15/9Ethereum faces a significant hurdle in the form of the 21-day Exponential Moving Average (EMA). Despite trading around $1,618.43, Ethereum has struggled to break through this resistance level. Low network activity has also affected its deflationary status. Breaking the 21 EMA is crucial for Ethereum's bullish outlook, while failure may indicate a bearish trend.
Solana (SOL):
Solana, currently trading at approximately $18.6, is showing signs of accumulation despite recent market concerns. Increased trading volume and open interest suggest informed investors are buying during the dip. This could indicate a more positive future for Solana, as its fundamentals remain strong.
Cardano (ADA):
Cardano is in a challenging position, trading at $0.2471 below the 21 EMA. However, declining trading volume and a bottomed-out Relative Strength Index (RSI) may hint at a potential turnaround. The 21 EMA remains a crucial level to watch for ADA's future direction.
COIN has been closing negative for five consecutive weeksCOIN has been closing negative for five consecutive weeks
This chart shows the weekly candle chart of Coinbase stocks over the past two years. The top to bottom golden section at the end of 2021 is superimposed in the figure. As shown in the figure, the low points of Coinbase stock in 2022 and 2023 are exactly 2.382 positions of the top to bottom golden section in the figure! Recently, the high click rate of Coinbase stock has broken through the 2.000 level of the top to bottom golden section in the chart, and has fallen back. It has been closing negative for five consecutive weeks, and last week's weekly closing line showed a small positive line with an upper shadow line. This week, we will continue to explore the upper limit, but it is obvious that the bulls are weak! In the future, use the 2.000 bits of the top to bottom golden section in the graph as the watershed to determine the strength of Coinbase!
COIN - Super Bullish, But Hot EngineCOIN is running hot.
The ride so far is phenomenal, but also way too quick for my liking. This can be seen on the RSI, which is super hot right now.
A nice Long-Confirmation is the fact that Volume on the weekly chart did increase nicely.
The red resistance got peeked twice now.
It's exactly where price broke down last time and traders where puking their stomach empty.
If price can stabilize above this resistance, then we have a open road to at least $190 to $220.
If not, a breakdown to the white up sloping Centerline is very possible.
Coinbase Is Your Victor - Binance Is Dead. SEC / DOJ AUM ETF
Some points people are missing
Coinbase current AUM $137.651B, a 30.51% increase year-over-year.
Binance current AUM $54B, yes that much smaller than Coinbase even their company CMC refuses to list this data see yourself
coinmarketcap.com
coinmarketcap.com
Coinbase with a marketcap of CME Group gives it $306
Coinbase is the "CENTRAL" location of the Spot - ETF's SSA by the biggest institutions in the world, most of the largest BTC volume in the world be OTC / traded through them meaning Coinbase is going to be making profits you can't imagine.
SEC / DOJ has given the green light to support Coinbase through the SSA / Spot ETF's meaning Coinbase was saved by the full force of the united states government's market regulators. (this is major)
Oh and the correlation to Binances "BNB" scam is also free falling.
COINBASE ROCKET REFUELING COINBASE - NASDAQ:COIN
Earnings release today AFTER CLOSE
Monitoring Coinbase is a great way to gauge institutional interest in the crypto market, so its good to keep an eye on regardless of takin trade on it.
The Chart
- A pull back here would not be surprising
- Price above 200 day SMA
- Re-test of RSI resistance line ideal
- Bounce of OBV resistance line also ideal
COIN coiling up for another impulse Up Coin made a nice impulse up this summer from 30-100 and is now correcting and coiling for another move up here.
Its mid term trajectory has a lot to do with whether the macro Equity market is hit hard with what I believe is at least a mild recession coming early next year.
This next impulse up takes us to the 120-130 range at least.
Look for the coming ETF decisions by the SEC to be a potential catalyst for more upside.
But remember...Narrative follows price...so we'll be prepared no matter what the catalyst is
Cheers!
Dump coming soon, be CAREFULTarausdt has already pumped more than 900% in 1 month. Now it reached resistance area. Whales are using same tactics it seems as you can see. with such a crazy pump, crazy dump usually follows. also, RSI in overbought territory.
i expect Tarausdt to correct to 0,0054, it can go even to 0,0045.
KUCOIN:TARAUSDT MEXC:TARAUSDT
BITCOIN Key Levels! Sell!
Hello,Traders!
BITCOIN is trading between
The two key levels
One being the resistance
Of around 30k and the other
Being the support at around
28,5K give or take (key levels
are actually areas not lines, remember?)
And until we see a breakout of
One of the levels the price will
Keep bouncing off of these levels
Which we can use to out advantage
Buy!
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Check out other forecasts below too!
COIN | Informative NASDAQ:COIN
If the price of COIN breaks above the bullish line of 109.44, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target prices could be set at 116.30 and 150.12.
Conversely, if the price of COIN breaks below the bearish line of 100.58, it may suggest a bearish signal, implying potential downward price movement. In this case, the target prices could be set at 85.35, 19.08, and 73.20.
*Slightly, I'm bearish based on the daily candlestick.