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Fundamental Analysis

BTC / SOLANA / Ripple Cryptocurrency markets, which previously awaited the approval of a Bitcoin ETF, are now facing selling pressure attributed to factors affecting Bitcoin and the cryptocurrency market as a whole. The continuous withdrawal from the Grayscale Bitcoin fund and the exploitation of Bitcoin miners add to the worries and negative outlook. Although Bitcoin has been the center of attention, other cryptocurrencies such as Solana, Ripple, and ... may be approaching buy zones. Grayscale Due to redemptions in the GBTC fund, it was forced to sell nearly half a billion dollars in bitcoins, prompting investors to exit in favor of other ETF products with lower annual fees. This process continuously affects the anxiety of the market and prolongs the negative outlook. Bitcoin miners, major investors in the market, have also contributed to the price drop by selling a significant amount to secure profits. Although GBTC outflows will weigh on the market, continued interest in Bitcoin ETFs could become a catalyst for the crypto market as this selling pressure eases. From the aspect of technical analysis, if we look at the latest situation of Bitcoin, we can see that despite the selling pressure in the short term, this digital currency maintained its critical support until the end of the week. While attempts to push above $40,000 are likely to be seen in the last 48 hours, Bitcoin closing below $41,700 for the week would be an important confirmation of the recent sell-off. If this move is supported by a decrease in GBTC redemptions, we may see a reversal of the short-term correction. This is because medium and long-term bullish expectations are valid for the Bitcoin and cryptocurrency markets. In summary; I continue to look for Bitcoin based on the horizontal band limits (green color) that have continued since December as seen on the chart. Another important support point on the downside is the 38.2% Fibonacci retracement, based on the October-January rally in the $39,700-$40,000 range. A clear daily close below this area carries the risk of a further downward move to other support points in the $30,000 area. The cryptocurrency market outlook in January showed us once again how quickly market moods can change. While this phenomenon is related to the size and concentration of capital in the market, we have often seen dips being used as buying opportunities while medium-term bullish expectations persist. In this context, let's try to identify the support levels that can be considered for cryptocurrencies with high market capitalization other than Bitcoin. Let's look at the support and resistance levels of Solana, Ripple among high-volume altcoins in the short term. Solana Solana: Ambush to buy at support levels Solana remained quite flexible in the correction compared to its recent bull run. Currently, buyers are moving quickly on the support line up to $85 (38.2% Fibonacci), while selling pressure is focused on the $126 ceiling. A price breakout from the important support zone at the $96 area today can be followed as an important signal to maintain a positive outlook. On the lower side, while a pullback to $85-86 could be seen as a buying opportunity, it could see a return to the $72-75 range if the day opens and closes below that level. to be Ripple Ripple seems to be approaching the buying zone. After losing its support at $0.62 in the first week of the year and after failing to hold $0.6 in recovery attempts, it increased its corrective momentum. After losing its support at $0.62 in the first week of the year, XRP continued its corrective momentum after failing to hold $0.6 in recovery attempts. In the current situation, we can see that XRP, which is below the 61.8% Fibonacci level in the $0.54 range, may decline to the $0.4850-$0.4630 range, this level may emerge as a new buy zone. However, a quick turnaround and a close above $0.58 could be seen as an early recovery in XRP.
KRAKEN:XRPUSD
by Masih_Rezvani
Bitcoin's Pivotal Moment: Crucial Support Level Analysis📊🚀 Bitcoin's Pivotal Moment: Navigating the Crucial Support Level - A Technical Analysis Deep Dive 💹🧭 Hello everyone! In today's TradingView idea, we're delving into Bitcoin's current trajectory, especially as altcoins experience sharper declines. We'll focus on Bitcoin, as it's showing some unique behavior amidst market uncertainties. Bitcoin at a Crossroads: The Big Rejection and Whale Dynamics Bitcoin recently faced a significant rejection at a major support level, a point I've emphasized in numerous analyses. The concept of "buy the rumor, sell the news" is pertinent here, especially in the context of whale behavior. This pattern has led to Bitcoin oscillating between a potential breakout and lateral movement. Failed Breakouts and SEC Impacts Contrary to previous tendencies, I've shifted from a bullish to a bearish stance on Bitcoin. Recent developments involving the SEC and ETFs have failed to catalyze a breakout. This, coupled with Grayscale's ongoing Bitcoin offloading, presents a nuanced market picture. The Fibonacci Perspective and Support Levels Applying Fibonacci analysis, we notice key rebounds at the 0.38 level, indicative of potential future movements. However, we must also consider the 0.618 Fib level for a comprehensive view. Currently, Bitcoin hovers around a critical Fibonacci level, hinting at potential rebounds or further declines. Channel Analysis and Price Predictions Examining Bitcoin's movement within a massive channel provides insights into potential support levels. Should Bitcoin break below these levels, a drop to as low as $31,000 could be on the cards. However, based on fundamentals and easing selling pressure, there's a rationale for a bullish stance between current levels and $39,900. Target and Caution The immediate target lies in the $48,000 to $49,000 range, serving as a resistance cluster. However, we must remain vigilant, acknowledging the possibility of a significant downturn if key levels are lost. Closing Thoughts In conclusion, Bitcoin is at a critical juncture. While the potential for an upward breakout exists, we must prepare for volatility and possible lower dips. My analysis leans towards a bullish outcome, with an 82% likelihood of avoiding a drastic fall. One Love, The FXPROFESSOR 💙
Long
by FX_Professor
2
SEC Greenlights ETF but Breakout failed! / Be Aware!!! 🎉 ETF Approval: A Cause for Celebration or Concern in Crypto? Hello, traders! Today's update comes with a blend of excitement and a touch of caution. 🎭 The long-awaited ETF has been approved, slicing through the SEC's comedy of errors. Yet, amidst the celebrations, a sentiment poll reveals a split view: 32% are elated 🚀, 42% content but expected more 😐, and I'm with the 19% feeling a twinge of disappointment 😔. Let's dissect the chart and today's happenings to understand why. 📉🚦🤔 The Missed Breakout: Bitcoin's Resistance Conundrum Despite the bullish news, Bitcoin failed to rally past the crucial support/resistance level. This yellow line isn't just any marker; it's the one I've been spotlighting since January 2023. 🎯 It's where Bitcoin's fate hangs in the balance. 🔍 Technical Analysis: Seeking Direction in the Crypto Winter Aftermath Our journey through the crypto winter revealed strong buy signals at $16K, $20K, with a confirmation dip at $24K, offering numerous chances to go long. However, with the ETF news failing to push us beyond the pivotal level, it's time to ponder – are we gearing up for a major breakout, or is it wise to 'sell the news'? 🤔 📈🚦 Strategic Outlook: Navigating the Crypto Seas Here's the strategy moving forward: Buy the Breakout: If Bitcoin ascends over $48,200, it's a green light. ✅🚀 Sell the News: If it lingers under FWB:48K , caution is your best ally. 🛑📉 🔁 Shifting Focus: Ethereum's Emerging Narrative Switching focus to Ethereum, the ETH/BTC chart hints at a shifting tide in altcoins, while Bitcoin dawdles at resistance. Whale psychology suggests that altcoins like Ethereum and Cardano could diverge from Bitcoin's path. 🔮 Anticipating the Halving: A Glance at Historical Patterns In anticipation of April's halving, historical patterns imply we could witness Bitcoin soar to the $100K-$300K range. Yet, for now, the prudent move is to wait for a decisive breakout above $48,200 or brace for potential retracements to $42,800 or even $40,000. 🧐 🌐 Macro Perspective: The Bigger Picture in Crypto Dynamics Keeping an eye on the macro scene, interest rates, and institutional moves post-ETF will be crucial. Remember, the market typically leads the news by six months. As we navigate these choppy waters, stay sharp and prepared to capitalize on both breakouts and pullbacks. 📊 🔔 Final Thoughts: Staying Ahead of the Curve Just how we did Here and Here and Here and Here One Love, The FXPROFESSOR 💙
Short
by FX_Professor
4
eurusdanalysis EURUSD 17.01.2024 Buyers and sellers continue to fight EURUSD fell to new lows and tested its 200-day moving average at 1.08462. Buyers flocked to that level on the first test, pushing the price up a bit. As mentioned in previous videos this week, the 1.08788 – 1.0894 zone represents a key swing zone that was broken during yesterday's trading and remains broken. This is currently resistance and a risk-defining level for sellers looking for further downside in the future. So buyers and sellers continue to struggle between lower support against the 200-day moving average and higher resistance against a key swing zone.
by Masih_Rezvani
XAUUSDgold analysis XAUUSD 17.01.2024 As bond yields rise, gold approaches $2,000 The positive seasons of January this year are not presented Gold fell to a one-month low as the market lost confidence in the impending tapering by the Federal Reserve and other central banks. Today's US retail sales report underscored this point. Gold typically rises in January with a strong seasonal effect, but that hasn't been the case this year as it has been hit by changes in Treasury yields and expectations of a rate cut. It is also possible that gold is suffering from a physical aspect, because the unease in the Chinese economy has deepened and gold buyers are giving up buying gold for now. Whether this situation continues or not, I have talked in detail about the willingness of Chinese investors to buy gold in some previous analysis clips. I expect the central banks of Russia, China and the Middle East to be keen buyers at this point and I will be watching the market to see if $2000 remains. If not, it will fall to the low on December 13, 1972. Note that today's meeting of the Federal Reserve was not without reason and Mr. Powell slightly leaned towards the Dovish dove.
SAXO:XAUUSD
by Masih_Rezvani
BTCUSD17.01.2024 Bitcoin analysis BTCUSD Bitcoin fell 2.5 percent as the flow continued to point to a disappointing ETF launch. Don't ever listen to people who provoke you by playing with random numbers. The spot ETF may not work for some who expect it to be like a white winged horse, or a point of hope for a jump or, conversely, a sharp fall. We are in the fourth day of Bitcoin ETF trading and the results are nowhere near the $2+ billion that Bitcoin buyers were touting in the first 48 hours. The path to net $15+ billion by the end of the year, or the $100 billion touted by Standard Chartered, has also dimmed significantly. There are people who want to argue that these ETFs are a big win because they're better than the hundreds of ETFs launched every year, but that's no measure of the success of $49,000 in ETF advertising either. What is strange to me is that no one in the Bitcoin space sees Bitcoin itself as it is, there is such an echo chamber built around the space that there is no room for logical analysis. The thing is, people here are hurt by those who are somehow promoting a huge hit from $600 million in an $800 billion market. In my opinion, the best and most logical way is to trade Bitcoin based on charts and chart trends.
BITSTAMP:BTCUSD
by Masih_Rezvani
Red Sea Crisis: How it will trigger the market?The recent development of the Red Sea crisis does not suggest that it is going to resolve anytime soon. Which markets have already started moving? And how far will they rise this time? We are going to recap the supply chain crisis during the pandemic and also delve into the current supply chain disruption caused by the Middle East conflict, which has led to the Red Sea crisis. My name is Kon How, and my role in this channel, as always, is to study behavioral science in finance, discover correlations between different markets, and uncover potential opportunities. Henry Hub Natural Gas Futures and Options: Minimum fluctuation: 0.001 per MMBtu = $10.00 Code: NG Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
NYMEX:NG1!Long
by konhow
6
Midweek Market Review Hey Traders. So this week we have a very interesting week in that there has been significant data releases that is giving us some valuable insight into what we could potentially expect in relations to the Rate Cuts for this year. DXY Starting with the DXY. Now just as a formality, the DXY is a weighted basket of currency pairs all paired agains the US dollar. Now the DXY has seen its best run since last year and the most recent contributor to this is a statement released by the FED's Christopher Waller stating that the FED is within striking distance of their 2% inflation goal. And according to the CME Fedwatch tool expectations for early rate cuts this year has eased to 60% verses roughly 75% prior. This has resulted in a very impressive run from the Dollar also now regarded as a safe-haven currency as growing uncertainty remains in both the Chines and European economies. GBP CPI data was positive, denting the expectations for an early Bank of England rate cut. Upon this data British government bond yields also jumped, with interest rate futures implying roughly 60% chance that the BoE would start cutting rates in mid May. This is down from what was previously 80% late Tuesday. From a technical perspective we see that price has responded quite well to the daily 50 moving average as well as positive momentum across all higher timeframes.
by DeanMuller
Value Investing: STOCKS to watch in 2024Hi Traders, Investors and Speculators of Charts📈📉 Welcome to 2024🥂🥳 After great feedback from the altcoin list, I'll be doing a series on top stocks to watch for 2024, all in one post for your convenience! Stocks I'll focus on include: 📢 Undervalued stocks 📢 Stocks with great upside potential 📢 New stocks to watch I'll keep adding/updating one by one to the bottom of this post, so make sure you bookmark and follow! 1) AMEX:PSIL The AdvisorShares Psychedelics ETF (NYSE ticker: PSIL) invests in the emerging psychedelic drugs sector, offering exposure to those biotechnology, pharmaceutical and life sciences companies we see as leading the way in this nascent industry.
AMEX:PSILLong
by CryptoCheck-
2