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Bitcoin - The latest updateAfter yesterday's drop of more than 12%, we continue to maintain a bearish stance on Bitcoin. The latest price action confirmed our bearish thesis as BTCUSD failed to make a new high, and instead, it faltered back below the 20 000 USD price tag. Simultaneously, the CPI print spooked the market leading to a massive selloff in the equity. Previously, we stated that the selloff would eventually accelerate. That is currently under manifestation, and we think the upcoming FED meeting will worsen an already dire situation. Meanwhile, technical factors continue to flash warning signs and trouble ahead for the overall cryptocurrency market. Accordingly, we stick to our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 The image above shows the hourly chart of BTCUSD and its recent decline of more than 12%s. The nature of this decline is particularly bearish and further confirms our thesis. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. The daily time frame is extremely bearish. Illustration 1.02 The picture above shows the most recent developments on the daily chart of BTCUSD. To further confirm our bearish thesis, Bitcoin has to drift below the most recent low at 18 540 USD. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. The weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
20
Bitcoin - Debunking the mythDay after day, we tell ourselves that bullish market forecasts are getting increasingly ridiculous. Unfortunately, however, every bounce up in the market seems to produce more irrational thoughts among market participants. We often encounter statements about Bitcoin being headed to 100k USD, 200k USD, 500k USD, or even much higher. The same applies to other cryptocurrencies. Indeed, people have been writing us and predicting new all-time highs for Ethereum and Bitcoin, four-digit valuation for XRP, and other things we consider outright stupid in the current environment. However, how do these valuations hold in the bigger scheme of things? People making outlandish calls do not seem to bother about this question. Therefore, we decided to answer it today. Based upon the data from the World Federation of Exchanges (which encompasses all significant stock market exchanges with over 58 000 companies), the equity market capitalization stands at 122.94 trillion USD. The current market cap of all cryptocurrencies is slightly above 1 trillion USD; at its peak, the market cap stood at 3.009 trillion USD. The current supply of Bitcoin is about 19 147 400 units. Meanwhile, the supply for Ethereum is approximately 122 323 191 units, and for XRP, about 49 826 021 773 units. Now, let's put in perspective the current valuation and cryptocurrency supply. BTC - approximate units = 19 147 400 ETH - approximate units = 122 323 191 XRP - approximate units = 49 826 021 773 BTC - the (approximate) current market cap = 411 bn. USD ETH - the (approximate) current market cap = 214 bn. USD XRP - the (approximate) current market cap= 17.6 bn. USD Altogether, these three cryptocurrencies account for more than 50% of the (whole) cryptocurrency market cap. However, what would be the value of their market cap if predictions about sky-high valuations were due to become real? BTC at 100 000 USD = 19 147 400 x 100 000 = 1.91 trn. USD BTC at 200 000 USD = 19 147 400 x 200 000 = 3.82 trn. USD BTC at 500 000 USD = 19 147 400 x 500 000 = 9.57 trn. USD ETH at 10 000 USD = 122 323 191 x 10 000 = 1.22 trn. USD ETH at 20 000 USD = 122 323 191 x 20 000 = 2.44 trn. USD XRP at 100 USD = 49 826 021 773 x 100 = 4.98 trn. USD XRP at 1000 USD = 49 826 021 773 x 1000 = 49.8 trn. USD After the calculation, it is evident that at 500k USD for Bitcoin, the whole market cap would be higher by over 8 trillion USD (when taking into account just increase in BTC). That is about an 800% increase for the entire cryptocurrency market (not taking into account an increase of other 20 000 cryptocurrencies). With Ethereum at 10 000 USD, the market cap would grow by another 1 trillion USD, which is again not a tiny number; additionally, the 20 000 price tag would double that figure. Finally, in the case of XRP at 100 USD, the market cap (just for XRP) would be valued at 4.98 trillion USD (which is already multiple times higher than the current market cap of BTC). At 1000 USD, the XRP market cap would be approximately 49.8 trillion USD. It does not take much common sense to realize these valuations are immense, especially when compared to the global equity market capitalization based on the World Federation of Exchanges data. In our opinion, these and many similar predictions about cryptocurrencies reversing to the uptrend and continuing higher are doomed to fail. Our views are based on fundamental and technical factors described in previous and attached articles. Accordingly, we remain bearish on Bitcoin and stick to our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 The picture shows the total market cap of cryptocurrencies and its decline of 66% from ATH. Technical analysis - daily time frame RSI and Stochastic are bullish. However, they are getting overvalued very quickly. MACD is neutral. DM+ and DM- are bullish. Overall, the daily time frame is neutral/slightly bullish. Illustration 1.02 Illustration 1.02 shows simple support and resistance levels for BTCUSD. The breakout above the immediate resistance will bolster the bullish case for BTC in the short-term. However, we stick to our bearish outlook beyond that. Technical analysis - weekly time frame RSI, Stochastic, and MACD are neutral/slightly bullish. DM+ and DM- stay bearish. Overall, the weekly time frame is neutral. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
95
Bitcoin - Breakout below 19 000 USD confirms our bearish thesisYesterday, Bitcoin dropped below the support level at 19 526 USD. Then later, the price continued below 19 000 USD, halting its movement at a low of 18 540 USD. These developments are negative for Bitcoin and further confirm the bearish thesis we laid out in our previous articles. At the same time, there was no significant change in fundamental or technical factors, allowing us to stick to our bearish outlook and price targets at 17 500 USD and 15 000 USD. Although with mounting evidence of the global economy slowing down, we think the price of Bitcoin will drift far below our price targets. Indeed, we believe Bitcoin will test 10 000 USD in the coming months. Despite that, we would first want to see our price targets being hit. After that, we will reassess the situation and set new price targets. Illustration 1.01 Illustration 1.01 shows the 5-minute chart of BTCUSD. The yellow arrow indicates yesterday's quick price action that led to Bitcoin plunging below the 19 000 USD price tag. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame. Illustration 1.02 The chart above shows three bearish breakouts, which also confirm our bearish thesis. However, the most recent breakout was retraced; ideally, we want to see the price drop and stay below the immediate support/resistance. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame. Illustration 1.03 Illustration 1.03 shows the daily chart of BTCUSD. The yellow arrow indicates the spike in volume, which is another bearish development. Ideally, from here, we would like to see volume increase accompanying a declining price. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
40
Ethereum - Pump and dump on a horizonSeptember 2022 brings many exciting events for the stock and cryptocurrency markets alike. However, we will pay close attention mainly to two events in particular. The first event we will pay attention to is the “merge” with the soft deadline on the 19th of September 2022; the merge will see the current execution layer being combined with a new consensus layer. As a result, Ethereum will transit from proof-of-work to proof-of-stake. That, in turn, will eliminate the need for energy-intensive mining and give Ethereum a competitive edge against other cryptocurrencies. While the transition is significant from an environmental and technological point of view, it is less significant from a trading perspective. It does not change the fact that the FED will continue to increase interest rates to battle inflation (which will subsequently weigh on the economy and lead to risk aversion). Additionally, the distribution of ETHW tokens (Ethereum on the old proof-of-work protocol) raises our concerns. Because of these “out of the thin air” tokens, we think there might be an initial increase in the price of Ethereum (especially before the merge). However, we expect a potential bounce to be temporary and newly created tokens to be dumped on the market together with Ethereum (after the merge). Our bearish view is also supported by technical factors, which show very low liquidity in the market. Simultaneously, several technical indicators point to the downside for ETHUSD. Because of that, we stick to our price target at 1 000 USD and 900 USD Illustration 1.01 Illustration 1.01 shows the daily chart of ETHUSD. The green arrow indicates a price increase. The red arrow indicates a volume decrease. These developments, occurring simultaneously, often foreshadow a trend reversal (in this case, a trend of a lesser degree). Technical analysis - daily time frame RSI and Stochastic are bullish. MACD is neutral; however, if it breaks above 0 points, it will bolster the bullish case in the short term. DM+ and DM- perform whipsaws, while ADX contains a relatively low value. Overall, the daily time frame is mixed. Illustration 1.02 The image above displays the daily chart of ETHUSD and simple support/resistance levels. Ideally, we would like to see a breakout below the short-term support; that will bolster the bearish case for Ethereum. Technical analysis - weekly time frame RSI and Stochastic are slightly bullish. MACD is neutral. DM+ and DM- stay bearish. Overall, the weekly time frame is less bearish than a week ago. Illustration 1.03 Illustration 1.03 shows the weekly chart of ETHUSD and two moving averages. The yellow arrow indicates the natural retracement toward the 20-week SMA. Ideally, we would like to see the price stay below this average. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:ETHUSDShort
by Tradersweekly
21
LITECOIN -8/9/2022-• Symmetrical triangle on daily chart • Breakout could be in either direction • Target distance from breakout point is distance between highest and lowest point in the triangle • 30 in this case (69.86-39.86) • Triangle is shrinking so we are close to breakout • Scenario 1: bearish breakout around 50 +/-, target is 20 +/- • Scenario 2: bullish breakout around 60 +/-, target is 90 +/- Note: Ideally, volume tends to decrease as the triangle shrinks and get close to breakout. So I added a volume indicator below the chart to highlight this idea. Advice: It is recommended not to rush and place orders before getting clear confirmation of a successful breakout. Keep in mind that breakouts can sometimes be fake.
COINBASE:LTCUSD
by RamziAbouAbdallah-CMT
2
Weekly Analysis BTC via Ichimoku by TheSocialCryptoClubHappy midweek, As usual, here is our analysis of the week looking at a glance at the daily chart of BINANCE:BTCUSDT using the Ichimoku Kinko Hyo indicator with traditional settings. We used in support other indicators that we developed and released Open Source, you can find them at the end of the analysis. Trend: Kumo has been consistently red for 12 days and expanding (about 6%). The Ichimoku pattern indicates a general downtrend with a sideways bias over the very long term. The Kijun Trend indicator continues to indicate looking for short positions. Heikin-Ashi: Heikin-Ashi confirmed the bearish price movement: almost always red candles since the top of the Kumo was touched. Supports and resistances: - 25000.00 by Fibonacci - 24600.00 Tenkan Weekly - 23400.00 Chikou cusp level or flat zones of Kijun and Tenkan - 22400.00-22600.00 Chikou cusp level or flat zones of Kijun and Tenkan - 20200.00 Chikou cusp level or flat zones of Kijun and Tenkan - 20000.00 psychological threshold - 19100.00-18900.00 level cusps Chikou or flat zones of Kijun and Tenkan - 17080.00level cusps Chikou or flat zones of Kijun and Tenkan - 12700.00from the waves of Hosoda - 11000.00-13000.00 level cusps Chikou or flat zones of Kijun and Tenkan For the various static price structures, you can refer to the chart where the structures identified by the flat moments of Tenkan, Kijun, Senkou Span A and Senkou Span B on different timeframes, also Chikou for the daily time frame, are plotted. Also, recall that the various Ichimoku lines serve as dynamic price structures: the Tenkan Sen (short term), the Kijun Sen (medium term) as well as the Senkou Span A and Senkou Span B (long term). Fibonacci: The Fibonacci levels on the Daily still show us a positive long-term sentiment and places the 0 to the upside on 75000.00. Price is moving away from the 1 level. Conclusion: Since the 25000.00 level was touched The situation has changed considerably and a clear downtrend is present. Hosoda waves indicate a downtrend target in the last ABC pattern found: 19252 (target reached), 18463.75, 18196.25, 17140. From a fundamental point of view, and in general markets, the situation is of general downtrend considering the FED's economic policy, the European energy crisis, and a slowdown in the Asian market. It is important to assess the close of the week and during the week on the following price structures: - Bullish/Lateral: 21800.00 - Bearish: 18100.00 Altcoin Cycle: For Bitcoin Dominance and Altcoin Cycle we can consider the weekly variation: - Total cryptocurrency market capital: Decreased - Dominance of BTC: Decreased. - Price of BTC: Decreased. - Alt cycle expectation: Stable. Thanks for your attention, happy to support the TradingView community. Indicators used: Analysis Tool Kijun Trend Indicator Ichimoku Support and Resistance Chikou Support and Resistance
by TheSocialCryptoClub
Ethereum - "Uber-bullish merge" narrative is nonsense In our previous article, we dismissed nonsense about the “uber” bullish effect of the Merge on Ethereum. However, we also stated that we would not rule out a temporary bounce in the price while expecting it to have little to no effect on the overall trend direction. Today, we again stick to this narrative and remain bearish on ETHUSD. We have no reason to change our bias as fundamental factors will continue to weigh on risk assets in the coming months. Additionally, technical indicators are worsening, which suggests more trouble ahead. Finally, as if it was not enough, a slowing global economy will lead to more risk aversion among assets like cryptocurrencies. Due to that, we maintain our price targets for ETHUSD at 1 000 USD and 900 USD. Though, we have to note that we are growing increasingly bearish on the pair and expect it to drift below our price targets over time. Illustration 1.01 Illustration 1.01 shows the most recent developments on the daily chart of ETHUSD. Yellow arrows indicate three bearish breakouts and one bullish retracement. Technical analysis - daily time frame RSI, Stochastic, DM+, and DM- are all bearish. MACD is neutral. Overall, the daily time frame is bearish. Illustration 1.02 Illustration 1.02 shows the daily chart of ETHUSD and two simple moving averages. Yellow arrows indicate bullish and bearish crossovers. The current constellation of moving averages is bearish. Technical analysis - weekly time frame RSI, Stochastic, MACD, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:ETHUSDShort
by Tradersweekly
47
DXY TECHNICAL ANALYSIS 07092022DXY RETURNS TO WHERE IT STARTED THE JOURNEY. 2000 TO 2023 MONTHLY LOOK. Is There a Buy-and-Hold Strategy in Forex? While currencies rarely rally against one another in the same sense that stocks do, there are viable reasons for experienced traders to engage in buy-and-hold strategies in forex trading. Traders who understand the long-term economic trends in one country versus another can buy-and-hold a currency for months or years in order to recognize profit from their trade. Buy-and-hold forex trading can also happen in conjunction with other investments, such as an American investor buying stock in a European company. Carry trade refers to a trader selling a currency that provides a low-interest return rate in order to purchase a currency that provides a high-interest return rate. Traders consider central bank policies, global sentiments, and trends in unemployment rates when adopting a long-term forex investment strategy. from www.investopedia.com NOT INVESTMENT ADVICE.
TVC:DXYLong
by volkancetin
2
Ethereum - Wake up call is ringing!We have been warning about the unsustainable rally in the cryptocurrency market for a while now. Indeed, for several weeks, we have been pointing out bearish developments on the chart of Ethereum and Bitcoin. However, only a week ago, we proposed the idea that the bear market rally reached its peak, and, as if it was not enough, we also said a 50% decline was looming over Ethereum. Today, we continue to stick to this assessment for Ethereum, which is mainly influenced by bearish fundamental factors like high-interest rates, quantitative tightening, and the prospect of a severe global recession. Due to the persistence of these factors, we have no reason to change our bearish medium-term and long-term views on the market. For the short-term, we are growing increasingly bearish on ETHUSD. In the past 24 hours, Ethereum fell 8%, breaking below the immediate support and reaching bearish territory. This development is particularly bearish as it coincides with the RSI breaking below 70 points and other technical indicators turning bearish. Accordingly, we stick to our price target of 1 000 USD. Illustration 1.01 In our previous idea, we said that ideally, we would like to see a drop in price accompanied by a build-up in volume to confirm our thesis; soon after that, a drop in price and a spike in volume occurred. Now, we would like to see more price decline and a further increase in volume. Ethereum is down approximately 15% from its recent peak. Technical analysis - daily time frame RSI, MACD, and Stochastic are all bearish. DM+ and DM- are due to perform bearish crossover, which will further bolster the bearish case for ETHUSD. Overall, the daily time frame is bearish. Illustration 1.02 The setup we introduced recently remains valid. Indeed, the bearish signal was triggered when the price broke below the immediate support. Technical analysis - weekly time frame RSI is bearish. MACD points to the upside but stays in the bearish zone. Stochastic is bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:ETHUSDShort
by Tradersweekly
18
Ethereum - "FOMO" backfiringOn 15th August 2022, we proposed the idea of Ethereum being at the top of a bear market rally. Following our announcement, Ethereum erased more than 20% of its value within the following week. This move came as a blow to many market participants expecting the rally to continue toward the new ATH. However, we have stressed for some time now that this would not be possible during 2022. Rather than that, we have said many times that the bear market would persist throughout the current year and likely during the next one. Our assessment is based on fundamental and technical factors we explain below and in our previous ideas. Our price target for ETHUSD is 1 000 USD. Illustration 1.01 Illustration 1.01 shows bearish breakouts that helped us to confirm our bearish thesis. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:ETHUSDShort
by Tradersweekly
24
Bitcoin - Bear market rally top?Over the past few weeks, worsening economic data led to widespread speculation about the FED backtracking on its promises, leading to buying spree fueled mainly by retail investors calling for the market bottom and trend reversal. Despite mounting bullish calls, we stuck to a bearish outlook for the medium-term and long-term while pointing to a bear market rally in the short-term. Recently, technical indicators started to show severe signs of exhaustion, with shallow volume accompanying new highs. This development suggests fewer market participants are willing to buy at current high prices, which is an ominous warning sign. Each breakout above the resistance at 24 280 USD was quickly invalidated. Additionally, RSI, MACD, and Stochastic are overbought on the daily time frame, potentially suggesting the top of the bear market rally. As for the medium and long term, we have no reason to change our bearish outlook due to fundamental factors like higher interest rates, economic tightening, slowing global economy, and regulatory threats. Because of that, our medium-term price target is 17 500 USD, and our long-term price target is 15 000 USD. Illustration 1.01 The picture above shows the setup we introduced (and kept updating) early in the bear market rally. Yellow arrows indicate bullish breakouts and the recent invalidation. Red arrows indicate volume declines accompanying bullish breakouts. Technical analysis - daily time frame RSI is overbought. MACD is flattening. Stochastic is bearish. DM+ and DM- are bullish. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.02 Many analysts argue that BTCUSD has bottomed out. However, Illustration 1.02 shows that even a bounce of such magnitude as +40% is nothing uncommon. For example, in February 2018, during the bear market rally, Bitcoin gained over 98% within a mere month. Technical analysis - weekly time frame RSI is flattening. MACD and Stochastic are bullish but still in the bearish zone. DM+ and DM- stay bearish. Overall, the weekly time frame is neutral. Illustration 1.03 The picture above shows further evidence of a gradual decline in volume. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
27
Ethereum - Raging bull market?! Is it, really?!In our previous idea, we argued Ethereum reached a potential top of the bear market rally. However, we remain cautious until we see more signs to confirm our assessment. Our view is based upon bearish fundamental factors that will persist throughout 2022 and 2023, dragging the global economy into recession and causing risk-off sentiment. In our opinion, the drying up liquidity in the cryptocurrency market suggests trouble ahead, with volumes being low compared to where they were during previous bull markets. Additionally, several technical indicators flash overbought conditions for ETHUSD. As if it was not enough, the market sentiment reflects raging “bull market euphoria” among retail investors, with many forgetting how deceitful bear market rallies tend to be. Mounting calls for the trend reversal, and new ATH point to the classic irrationality of market participants during such periods. These developments worry us and, indeed, they lead us to speculate that the looming selloff will have extreme nature. Therefore, we maintain a bearish outlook on Ethereum. Accordingly, we stick to our price target of 1 000 USD. Illustration 1.01 The picture above shows the daily chart of ETHUSD. The red arrow indicates a gradual decline in volume over the past three days. To confirm our previous assessment about the potential top, we would like to see a build-up in volume accompanying a price decline. So far, we have not seen that. Another development we would like to see is a breakout below the sloping support and the immediate support. That would bolster a bearish case for Ethereum. Technical analysis - daily time frame RSI crossed below 70 points, which is bearish; however, it is turning neutral. MACD is due to perform a bearish crossover. Stochastic is bearish. DM+ and DM- are bearish. Overall, the daily time frame is neutral/slightly bearish. Illustration 1.02 Illustration 1.02 shows the magnitude of bear market rallies during the bear market of 2018. Technical analysis - weekly time frame Stochastic is bullish. RSI is flattening. MACD is bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. Illustration 1.03 The setup we introduced in the previous idea remains valid. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:ETHUSDShort
by Tradersweekly
23
Coin forming a base? Coinbase Short Term We look to Buy at 84.07 (stop at 66.49) Price action looks to be forming a bottom. Price action looks to be forming a bullish flag/pennant. Dips continue to attract buyers. Further upside is expected although we prefer to set longs at our bespoke support levels at 80.00, resulting in improved risk/reward. Expect trading to remain mixed and volatile. Our profit targets will be 148.88 and 159.10 Resistance: 115.00 / 150.12 / 206.00 Support: 80.00 / 50.34 / 44.15 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:COINLong
by Saxo
Bitcoin - The ultimate warning!In yet another perplexing move, cryptocurrencies jumped higher after yesterday's CPI print in the United States. Better than expected results sparked a wave of buying among retail investors pumping the price of Bitcoin above the immediate support/resistance and simultaneously into the bullish zone. However, we think this recent move perfectly shows how irrational markets can become despite mounting evidence that the world will be driven into a deeper recession toward the end of 2022. In our opinion, the narrative that the FED will step in, cut interest rates and start printing money to avoid recession is wrong. Indeed, we think this narrative is one of the leading causes of the current rally (with technical factors also strongly contributing). Unfortunately, we believe the FED is left with no choice but to increase interest rates to fight inflation. However, by doing that, the FED will risk causing more systemic problems in the stock and cryptocurrency markets. Therefore, we stick to our bearish outlook when looking beyond the rally. Accordingly, we maintain a medium-term price target of 17 500 USD and a long-term price target of 15 000 USD. For the short-term, we are looking at 26 500 USD with the invalidation level at 24 280 USD. Illustration 1.01 Illustration 1.01 shows the daily chart of BTCUSD and the trade setup we introduced recently. Simple support and resistance lines are derived from prior peaks and troughs. The yellow arrow indicates the bullish breakout. We stick to our previous assessment of the upside for Bitcoin, which is 26 500 USD in the short term (invalidated if a retracement occurs); however, we will again pay close attention to volume levels. Technical analysis - daily time frame RSI, Stochastic, and MACD turned bullish. However, they show exhaustion, which may imply the ultimate bull trap above the immediate support/resistance. DM+ and DM- are bullish. Overall, the daily time frame turned bullish. Despite that, we voice caution. Illustration 1.02 The picture above shows previous and current bear market rallies. The magnitude of moves is measured from the low to the high. The current rally falls into the range of the earlier downtrend corrections. Technical analysis - weekly time frame RSI, MACD, and Stochastic are slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral/slightly bullish. Illustration 1.03 The illustration above shows previous bullish breakouts and what happened to volume after they occurred. For the bearish scenario and invalidation of the breakout, ideally, we would like to see the same development occur this time again. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
51
Bitcoin - Brace for another 30% decline!Over the past week, the situation in the cryptocurrency market has not changed much. The price of Bitcoin continued to be choppy, trading mostly between 22 000 USD and 24 000 USD. The inability of BTCUSD to break above the immediate resistance hints at even more weakening bullish momentum. Indeed, the same is implied by several technical indicators and the presence of low volume. In addition to that, bearish fundamental factors continue to persist. We view higher interest rates and economic tightening as two main elements driving the U.S. economy into a deeper recession toward the end of 2022, and during 2023. Since such periods are accompanied by risk-off sentiment, we expect this to negatively affect the price of BTC, resulting in a new low over time. Therefore, we still maintain a bearish view on Bitcoin with the price target of 17 500 USD, which is our medium-term price target. However, today, we would also like to set a new long-term price target at 15 000 USD. Illustration 1.01 The illustration above shows the daily chart of BTCUSD during the downtrend in 2017/2018. Bear market rallies are indicated by green dashed lines. The picture illustrates how big moves up can occur during the bear market rally when people flock into the market chasing the asset because of so-called “FOMO - fear of missing out”. As we previously stated, Bitcoin is up approximately 40% from its lows, however, it does not mean that the trend of higher degree has changed to bullish. Technical analysis - daily time frame RSI is neutral. MACD lost momentum and strives to reverse to the downside. Stochastic turned bearish. DM+ and DM- are bullish, however, the trend is very weak. Overall, the daily time frame is neutral. Illustration 1.02 Due to the choppy price action of BTCUSD, the setup we introduced recently remains valid. Technical analysis - weekly time frame RSI, MACD, and Stochastic are neutral. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
18
Bitcoin - Investors continue their chase for the higher priceSince its lows on 18 June 2022, Bitcoin has risen approximately 40%. However, despite that, we remain committed to our bearish stance, which is mainly affected by persisting fundamental factors that will continue to weigh on the cryptocurrency market for the rest of 2022 and 2023. Despite that, the current trade setup still allows for a further price rise in the short-term; especially, if Bitcoin breaks above the immediate resistance. Under such conditions, we would see the upside up to 26 500 USD, and in an extreme scenario near 32 500US; which remains consistent with what we stated already several weeks ago. In regard to our price target, it stays at 17 500 USD. Illustration 1.01 Illustration 1.01 shows the upward sloping channel, which many analysts say is bullish and indicative of the trend reversal. However, in our opinion, there are several warning signs on the chart. First, volume declines throughout the structure. Second, each breakout above the immediate resistance was followed by strong selling pressure. Third, overall volume levels remain very low. Technical analysis - daily time frame RSI and MACD are neutral/slightly bullish. Stochastic is bullish. DM+ and DM- are bullish. Overall, the daily time frame is neutral/slightly bullish. Illustration 1.02 The setup which we introduced previously remains valid; that is mainly due to the choppy price action of Bitcoin, which continues to oscillate within the wide range with occasional breakouts above it. Technical analysis - weekly time frame RSI and Stochastic are slightly bullish. MACD performed bullish crossover, however, it stays in the bearish area. DM+ and DM- are bearish. Overall, the weekly time frame is neutral/slightly bullish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
27
Coinbase: returning to key supportCoinbase Short Term We look to Sell at 63.59 (stop at 70.72) The primary trend remains bearish. We are assessed to be in a corrective mode higher. A move higher faces tough resistance and we remain cautious on upside potential. Preferred trade is to sell into rallies. Trading volume is decreasing. Our profit targets will be 45.94 and 41.01 Resistance: 63.00 / 78.00 / 163.00 Support: 53.00 / 50.00 / 46.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features. Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
NASDAQ:COINShort
by Saxo
1
Bitcoin Set to Hit 17k - August 2022Hi Bitcoin Lovers, What are my reasons for using such a bogus title? 1. Bearish forces have aligned and confirmed on D1 TF which will first of all drive price to 21224 level, retest 22735 zone and drive through 20777, 18934 and possibly 17125 area. Strategy Applied: Bearish Force 2. Exception:- If we fail to hit 20777 level, price should shoot up to 28541 / 32000 zone within the month. Strategy Applied: Wick Fill Let me know what you think in the comment section. Join me today during live GER30/EURUSD trading session here on TradingView (13:00 GST) and ask me your questions on my trading strategies. See you!!! Yours, Kings
COINBASE:BTCUSD
by Kingsley_lotanna
Bitcoin - The sucker's rally nears its endWe made a case for the ultimate bear market rally just a few weeks ago. We also said the rally's erratic movements would suck many people into believing the market has formed the bottom and reversed to the upside. Indeed, that is exactly what we currently see in the market. Mounting calls for sky-high prices, guarantees of the bottom, and fear of missing out highlight retail's bullish sentiment. Meanwhile, the institutional side of the market continues to show systemic cracks, with many companies going bust amid crypto winter. The list of affected companies and concise description: 1. Voyager (bankrupt) - defaulted on $350 million in the U.S. dollar-pegged stablecoin, USDC, and 15,250 bitcoin. 2. Zipmex (bankrupt) 3. 3 Arrow Capital (bankrupt) - filed for bankruptcy and founders went missing. 4. Celsius Network (bankrupt) - went bankrupt after freezing over 151 000 Bitcoins locked away from its 1.7 million users. 5. CoinFlex - (limited withdrawals) 6. SkyBridge Capital - cryptocurrency fund (suspended withdrawals) 7. Coinbase (investigated by the SEC) - probed over the issuance of securities and insider trading. 8. Binance (investigated by the SEC) - probed over Tether stablecoin and insider trading. In addition to that, tighter monetary policy continues to pressure the U.S. economy, to which cryptocurrencies are highly correlated. As a result, we think it is just a matter of time until the market starts to manifest weakness again and drag the price of Bitcoin and other cryptocurrencies lower. Because of that, we are very cautious and looking for weakening signs in BTCUSD. On the endnote, our medium-term and long-term outlook stays bearish. Due to that, we would like to set a price target for BTCUSD at 17 500 USD. Illustration 1.01 Illustration 1.01 shows the total cryptocurrency market cap. It is far below its all-time high value, approximately 63% from it. The list of affected cryptocurrencies Luna - stablecoin (-99%) CEL - cryptocurrency (-84%) Cardano - cryptocurrency (-82%) BNB - cryptocurrency (-57%) XRP - cryptocurrency (-79%) BTC - cryptocurrency (-64%) ETH - cryptocurrency (-65%) SOL - cryptocurrency (-82%) Dogecoin - meme coin (-90%) Polkadot - cryptocurrency (-84%) Matic/Polygon - cryptocurrency (-72%) *The list shows values from 30th July 2022. Declines are measured from all-time-high values. Technical analysis - daily time frame RSI is neutral. MACD is flattening. Stochastic points to the downside. DM+ and DM- are bullish, but the trend is weak or neutral. Overall, the daily time frame is neutral. Illustration 1.02 The setup above we introduced several weeks ago; it still remains valid. Volume continues to support our thesis that buyers are harder to find between 22 000 and 24 000 USD. Although, it is possible that the price can continue a bit higher (especially at low volume). Technical analysis - weekly time frame RSI and MACD are neutral. Stochastic is slightly bullish. DM+ and DM- are bearish. Overall, the weekly time frame is neutral. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
37
Bitcoin - Deceitful rally Despite yesterday's move up in Bitcoin, we remain very skeptical about the prospect of rally continuation. That is mainly due to the FED moving toward a more hawkish stance in regard to its monetary policy. Indeed, now, it projects another 75bps rate hike for September 2022. As a result, we expect this to negatively affect the U.S. economy as well as the cryptocurrency market. Due to the persistence of these bearish fundamental factors, we have no reason to change our medium-term and long-term assessment of BTCUSD. Illustration 1.01 Illustration 1.01 shows the trade setup we introduced recently; it consists of two alternative scenarios. Additionally, there are several technical developments displayed on the chart. The bullish trigger occurred when the price moved above 21 868 USD. Despite that, we are skeptical about this move. We are looking for the bearish trigger, which will take place once 21 868 USD is retraced to the downside. Low volume after the most recent breakout hints at a declining number of buyers between 22 000 USD and 24 000 USD. Technical analysis - daily time frame MACD, Stochastic, and RSI all show signs of stalling. DM+ and DM- are bullish; however, ADX contains a relatively low value. Overall, the daily time frame is neutral. Technical analysis - weekly time frame RSI is bullish. MACD is neutral. Stochastic is bullish but stays in the lower zone. DM+ and DM- remain bearish. Overall, the weekly time frame sends mixed signals. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
BITSTAMP:BTCUSDShort
by Tradersweekly
124