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More bearish signs appearMorning folks, So, the ping-pong action that we've discussed last time is under way, but, Friday's performance was dramatic and shows weakness. BTC was not able to proceed higher, forming huge reversal bar on daily chart and bearish grabber on weekly. Although they coul have serious consequences, but for now we do not talk about breaking the tendency or something of this kind. Nearest support stands around 28K, so this should be frist target of potentially deeper retracement. Still, as price still stands inside our range - let's get first the touch of the lower border. And then see what will happen. We do not consider any new long positions by far.
COINBASE:BTCUSDShort
by Sive-Morten
1
IndecisionMorning everybody, So, first euphoria around BlackRock's ETF starts to fade and market immediately turns to indecision performance. Although our last time scenario has been completed accurately and BTC has re-tested the top, it was not able to proceed higher and continue major upside tendency. This makes us think that some time it could spend in flat, which is best scenario. But we also do not exclude more extended down, to 28.5K major support area. As usually we do with the range - depending on your preferable direction watch for patterns inside the range, take position closer to opposite borders or use stop entry orders around borders for the case of breakout. Now we do not have any clear patterns.
COINBASE:BTCUSD
by Sive-Morten
31.5 KMorning folks, As you understand all this rally and sentiment is based only on anticipation of BlackRock&Co ETF approvements from the SEC. Thus, recent volatility also has happened due to the same driving factor. SEC said that Fidelity files are inadequate, but later releases commentaries that the file should be changed a bit and re-send. As a result, on daily chart we've got two bullish grabbers, that suggest upward action at least to 31.5K top. Overall performance also suggests the same - market stands in tight pennant consolidation. Intraday performance is very choppy and stable. Usually this happens, when market prepares to challenge the top. Let's see
COINBASE:BTCUSDLong
by Sive-Morten
Preparing for breakoutMorning folks, BTC keeps positive mood. Technically picture looks bullish. Price is forming tight pennant shape near the top - classical sign of preparation for breakout. But, keep in mind, of this bullish stuff is based only on Blackrock ETF file. The driver for the market is purely external. Just think what will happen, if SEC will deny the file, as it was with Fidelity two years ago... Thus, it is good looking now, but who knows, what will happen tomorrow. Pay attention to risk management. And yes, if everything will be OK with BlackRock and Fidelity files - nearest mid term target is 36-38K
COINBASE:BTCUSDLong
by Sive-Morten
Two things to controlMorning folks, BlackRock ETF file has made an explosive action in the news and triggered strongest rally on BTC of a last time. Technically this is good sign for the bulls, pointing that BTC starts new extension mode. Usually you're watching for two things on this stage. First is - market has not changed its mind and erased the rally. Second - strong support areas where you could consider long entry. For now, 28.30-28.80 looks interesting. Besides BTC was at daily overbought, which makes a bit deeper retracement probable.
COINBASE:BTCUSDLong
by Sive-Morten
EURAUD Update I What to Expect from this PairWelcome back! Let me know your thoughts in the comments! ** EURAUD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
by BKTradingAcademy
20
28-28.5 K pullbackMorning folks, With SEC problems to put under control Coinbase/Binance, attack on G. Gensler from some Senators and Congressmen and BlackRock bill to register ETF have changed BTC background significantly. If everything will be realised, then it will be absolutely different market in terms of regulation. It will loose freedom but a lot of money will be pour in. Thus, all this stuff is reflected in price. Market confirms bullish context, but now stands at overbought. So, we expect tactical bounce to 28-28.5 K-support area, and intend to consider it for long entry. Mid term upside target now is around 36-38K area
COINBASE:BTCUSDLong
by Sive-Morten
27-27.2K is in rangeMorning folks, BTC, on a background of common euphoria and anticipation of sooner Fed easing and QE has shown nice intraday rally, exceeding the level that we've specified as a target of retracement and potential resistance. Thus, expected bounce happened, but it has appeared to be much stronger. Now we have bullish reversal swing and a kind of reverse H&S shape. This let's us consider ~ 25.5-26K area support, where potentially right arm's bottom should be formed, for possible entry with bullish scenario. Nearest target is around 27-27.2K 4H resistance area. Just be aware of strong downside action and breakout of major 5/8 Fib support level around 25K. These two things that we do not want to see when we consider bullish continuation.
COINBASE:BTCUSDLong
by Sive-Morten
BWA: 6% upward potential to current HH 🐂 Trade Idea: Long - BWA 🔥 Account Risk: 1.00% 📈 Recommended Product: Knockout 🔍 Entry: +/- 48.28 🐿 DCA: No 😫 Stop-Loss: 45.29 (46.67 for aggressive trade) 🎯 Take-Profit #1: 51.05 (50%) 🎯 Take Profit #2: - 🎯 Trail Rest: Yes 🚨🚨🚨 Important: Don’t forget to always wait for strong confirmation once possible entry zone is reached. Trade ideas don’t work all the time no matter how good they look. Do not get a victim of FOMO, there is always another trade idea waiting. 🚨🚨🚨 If you like what you see don’t forget to leave a comment 💬 or smash that like ❤️ button! — BorgWarner is in a larger uptrend and currently finished its consolidation to the former HH (higher high), doing a liquidity grab there, and closed yesterday above it’s last LH (lower high) above the consolidation downtrend. We therefore assume that BorgWarner will at least test its current HH from the larger uptrend with possible upward potential from there. This trade is based on price action alone. — Disclaimer & Disclosures pursuant to §34b WpHG The trades shown here related to stocks, cryptos, commodities, ETFs and funds are always subject to risks. All texts as well as the notes and information do not constitute investment advice or recommendations. They have been taken from publicly available sources to the best of our knowledge and belief. All information provided (all thoughts, forecasts, comments, hints, advice, stop loss, take profit, etc.) are for educational and private entertainment purposes only. Nevertheless, no liability can be assumed for the correctness in each individual case. Should visitors to this site adopt the content provided as their own or follow any advice given, they act on their own responsibility.
NYSE:BWALong
by LGNDRY-Capital
Daily Market Analysis - Thursday June 15, 2023Market Analysis: Global shares decline, dollar recovers as Fed pauses rate hikes; ECB and BOJ meetings awaited. Key events on the economic calendar include: New Zealand GDP (QoQ) for the first quarter. Eurozone Deposit Facility Rate announcement for June. Eurozone ECB Interest Rate Decision for June. US Core Retail Sales (MoM) data for May. US Initial Jobless Claims report. US Philadelphia Fed Manufacturing Index for June. US Retail Sales (MoM) data for May. Eurozone ECB Press Conference. On Wednesday, global stock markets saw a decline, while the US dollar managed to regain some of its losses. This came after the US Federal Reserve, as expected, announced a pause in its interest rate hikes. However, the central bank also hinted at the possibility of raising rates by an additional 0.5% before the end of the year. During its recent two-day meeting, the Federal Reserve presented new economic projections that indicated a potential 0.5% increase in borrowing costs by the end of 2023. This projection was based on a stronger-than-expected economy and a slower decline in inflation. US Fed funds rate The Federal Open Market Committee (FOMC), responsible for determining interest rates, unanimously stated in its policy statement that maintaining the current target interest rate range during this meeting would allow the committee to assess additional information and its implications for monetary policy. While it was widely anticipated that the US Federal Reserve would pause its rate hikes, the focus shifted to the communication surrounding potential future increases. In a surprising twist, the participants of the FOMC adopted a more hawkish stance. The median forecast for the end of 2023 regarding the Federal Funds rate was revised upward by 50 basis points, now ranging from 5.50% to 5.75%. SPX NASDAQ and DJI indices daily chart Following the announcement, the closing results of the stock market exhibited a mixed picture. The Dow Jones index concluded the day with a decline of over 230 points, while the S&P 500 index managed to secure a modest gain of 0.1%. The Nasdaq index, on the other hand, experienced a more significant increase of 0.4%. Notably, the Nasdaq Composite index was primarily driven by the positive performance of AI-related stocks, including Nvidia and AMD. In addition to the stock market movements, Wednesday started with Bitcoin surpassing the $26,000 milestone. However, it retraced shortly afterward and reached a 24-hour low of $25,791. Analysts are speculating that it may potentially drop further to $25,000. These sentiments are influenced by ongoing discussions on cryptocurrency regulation, which have been dominating the news recently. BTC/USD daily chart On the flip side, gold prices initially saw an uptick, reaching $1,959 per ounce during the session. However, as Asian traders kickstart their day, the price of gold has resumed its downward trajectory, edging closer to the $1,930 level. This downward movement can be attributed to the hawkish stance of the US Federal Reserve (Fed), which has bolstered the United States Dollar (USD). The prevailing market sentiment currently favors the USD, consequently exerting downward pressure on the price of gold. XAU/USD daily chart The US dollar has demonstrated a decline against multiple currencies, resulting in a 0.32% drop in the DXY index. Among the currencies, the New Zealand dollar (NZD) experienced the most notable movement, surging by over one percent and reaching a three-week high at $0.6211. Meanwhile, the Euro (EUR) and the British Pound (GBP) registered more modest gains, each recording an increase of 0.39%. NZD/USD daily chart Despite the release of favorable exports and machinery orders data, the Japanese yen encountered a 0.9% decline, emerging as the primary loser in the Asian markets. Investor focus was predominantly directed towards the upcoming Bank of Japan (BOJ) meeting scheduled for Friday. It is widely expected that the central bank will maintain its accommodative monetary policy stance to bolster domestic economic growth. This anticipated approach is anticipated to have a favorable influence on Japanese stocks. USD/JPY daily chart Nevertheless, the Japanese yen is expected to encounter further selling pressure as interest rates rise in other regions, diminishing its appeal. Bank of Japan (BOJ) officials, including the newly appointed Governor Kazuo Ueda, have expressed their intention to maintain the bank's yield curve control policy to provide support to the domestic economy. Furthermore, the diminished anticipation of Japanese government intervention in stabilizing currency markets has contributed to the yen's weakening. While officials have issued verbal warnings, no concrete actions have been taken thus far. Currently, traders are closely watching the upcoming monetary policy announcements from the European Central Bank (ECB), scheduled for later in the day at 12:15 GMT. It is widely anticipated that the ECB will implement a 25 basis points increase in key rates. However, the Staff Economic Projections and the subsequent press conference by President Christine Lagarde will play a crucial role in shaping future policy direction. Market expectations indicate that interest rates will likely reach their peak in July, with speculation of an additional rate hike following June's increase, followed by a potential pause in September. If the ECB adopts a more hawkish stance by implementing a rate hike, it is expected to exert additional selling pressure on the price of gold.
by FOREXN1
1