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GBPJPY Oct 4 2024 pending buy limit activatedDetailed entry on GBPJPY maximizing liquidity grab. :) This trade was taken during N.Y session of Oct 3 2024. I set pending buy limit because I saw Slow motion while approaching fair value gap (see charts arrow) . As I go to my fundamentals i saw an important NEWS --> NFP USD. Anticipating large momentum because of the demand introduced this week. This trade was a success, years of learning and charts behavior observation. Trade with confidence and patience. :) Have a great day folks! #wyckoff #supplyanddemand
Long
by glyrad
$DXY US DOLLAR BULLISH **BIG BOYS BIAS (CFTC COT INDEX REPORT) >Commercials - Extremely Bullish >Retailers - Extremely Bearish (Always Wrong) >Fund Managers are in-trend with the price chart (Trend Followers) **USD Valuation Against EURO >We are still in at the Overbought region Others: >Price already took the Daily Demand Zone, price is now accumulating and the catalyst for the BULLISH move could be the US FED news and the EURO Inflation Rate news release on Monday. ***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
CAPITALCOM:DXYLong
by TradersPod
TSLA SHORT TRADE IDEA**STOCKS VS USD & TREASURY BONDS - Currently Oversold signaling a bearish sentiment. Price would need a reason to for a bearish move and could take the highlighted Supply Zone. Supply and Demand Analysis: >Price could take the the daily Supply Zone and the PRICE GAP within the supply zone could get filled. >Price could fill the Gap before a bearish move and go to the highlighted opposing Demand Zone ***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
NASDAQ:TSLAShort
by TradersPod
GBPUSD BEARISH FOR THIS WEEK **CHECK MY EURUSD ANALYSIS FOR THE CFTC COT REPORT BIAS CFTC COT Report Bias: BEARISH **British Pound's value against the Dollar is still at the over-sold region **Supply and Demand Analysis - Price Is accumulating at Supply Zone #1 and could reach Zupply Zone #2 before the bearish move and could target the opposing demand zones highlighted on the chart. **Others - the catalyst for the bearish move could be the US FED news release on Monday. ***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
Short
by TradersPod
EURUSD STILL BEARISH FOR THIS WEEK**BIG BOYS BIAS (CFTC COT INDEX REPORT) >Commercials are still long term Bearish >Retailers are long term Bullish (Always Wrong) >Fund Managers are Diverging from price chart (Trend Followers) **EURO Valuation Against USD >We are still in at the Oversold region Others: >Price already took the Daily Supply Zone, price is now accumulating and the catalyst for the bearish move could be the US FED news and the EURO Inflation Rate news release on Monday. ***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
Short
by TradersPod
Will ongoing risk-on theme keep dampening the US dollar further?Macro theme: - On Tue, PBoC surprised investors with a new set of support measures that positively impact risky assets. This unexpected move has injected a fresh wave of optimism into the markets. -In contrast, the latest data from the US revealed a surprising decline in consumer confidence, which fell to 98.7 this month from a revised 105.6 in Aug. This marked the most significant drop since Aug 2021, sparking concerns about the health of the US economy. - As a result, market expectations for another 0.5% rate cut by the Fed at its Nov meeting have increased significantly. According to CME Group's FedWatch Tool, the probability of such a move jumped to 60.7% from 53% just a day earlier. This shift towards a more dovish monetary policy stance has further weakened the US dollar as investors become more risk-tolerant. Technical theme: - On the 4-hour chart, DXY broke its support area of 100.55-100.60 and confirmed its downward movement. The price is trading below both EMAs by a fair distance, and there is a risk of a potential mean reversion if it tests a strong psychological level, such as 100.00, ahead. - If DXY extends its decline, it may retest and find psychological support around 100.00, confluence with its descending channel's lower bound.  - Meanwhile, DXY may recover to fill its gap and retest the broken area around 100.55-100.60 before resuming its downward movement. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
TVC:DXYShort
by DatTong
2
Market News Report - 22 September 2024It was a historic week in FX, as the Fed delivered a half-percent interest rate cut for the first time since 2020. Based partly on this news, currencies like the British pound and the Australian dollar found strength across numerous markets. In our latest news report, let's see what to expect from all the major forex markets performance-wise. Market Overview Below is a brief technical and fundamental analysis breakdown for all major currencies. US dollar (USD) Short-term outlook: bearish. Unsurprisingly, the Fed delivered a dovish move with a historic 50 basis points (bps) rate cut. So, the bearish bias firmly remains, with signals of two 25 bps cuts in the pipeline for the rest of 2024. Furthermore, unemployment was recently revised higher. The DXY chart aligns perfectly with the fundamentals, having recently reached a major support area (100.617) on the daily chart. Interestingly, a clear break has yet to occur after several weeks. So, be mindful of a potential technically driven retracement. Meanwhile, the key resistance is far away at 107.348, which will remain untouched for some time. Long-term outlook: weak bearish. Markets anticipate several full rate cuts before the year ends, with the Fed being keen to harness a soft landing. Also, any data on weakened jobs would be another bearish driver for the dollar. However, any potential strength in upcoming GDP (Gross Domestic Product) and jobs would make rate cuts less urgent, allowing for a USD retracement. Euro (EUR) Short-term outlook: weak bearish. As usual, the STIR (short-term interest markets) were predictably accurate as the European Central Bank (ECB) cut the interest rate. While 'being mum' about forward guidance, they revised core inflation projections higher. Sources report that a cut in October is unlikely, but one in December is more likely. Meanwhile, the chart tells a slightly different story. After recently breaking a major resistance, the next target is 1.12757. Meanwhile, the key support area lies far below at 1.07774. Long-term outlook: weak bearish. The ECB hasn't committed to a specific future path with the interest rate. Due to lingering concerns over services inflation, a rate cut in October is less likely, with a 76% chance of a hold (according to STIR markets). So future inflation data remains key, with improvements likely to tick the euro higher. We should note that the interest rate differential has become more positive for EUR after the latest Fed cut. British pound (GBP) Short-term outlook: bearish. The Bank of England (BoE) kept the interest rate steady in last week's meeting. Still, the language indicates they need to be "restrictive for sufficiently long." As with the ECB, the central bank's current key theme is fighting persistent inflation in the United Kingdom. So, it makes more sense to be dovish than hawkish. Expect any shocks in inflation (or other data like labour) to send the pound lower. Like the euro, the British pound has been saved by dollar weakness on the charts. However, it is more bullish. We must go onto the weekly chart to see the next resistance target at (1.34825). However, it hasn't yet properly broken the closest area at 1.32666. On the other hand, the nearest key support is far away at 1.26156. Long-term outlook: bearish. Sequential rate cuts by the BoE may soon be a reality. Also, expect any weak CPI, labour, and GDP data to back up the bearish bias. Another interesting point is the latest CFTC (Commodity Futures Trading Commission) report, showing that GBP longs have been stretched to the upside. So, bullishness should be limited. Japanese yen (JPY) Short-term outlook: bullish. The primary bullish catalyst is the Bank of Japan's (BoJ) recent decision to hike the interest rate. STIR markets expect a hold (99% probability) at the next meeting but a hike at the start of next year. ​​Governor Ueda of the BoJ noted that despite domestic economic recovery, recent exchange rate movements have reduced the upside risk of inflation. All of this backs up the potential for a rate hold or hike. USD/JPY has long been bearish, recently surpassing (but not breaking with confidence) the major resistance at 140.252. Meanwhile, the major resistance (at 161.950) is too far for traders to worry about. Long-term outlook: weak bullish. Lower US Treasury yields are one bullish catalyst for the yen. Inflation pressures and wage growth would also provide upward momentum. We should also consider that the dovish tendencies of other major central banks are JPY-positive. Australian dollar (AUD) Short-term outlook: weak bullish. The Reserve Bank of Australia (RBA) unsurprisingly kept the interest rate unchanged not long ago to keep the fight against persistent inflation rate. (Diarise the upcoming rate statement on Tuesday for AUD.) Governor Bullock also stressed that the latter's results need to improve before a cut is envisioned. The Aussie remains sensitive to China's recent economic woes, especially with declining iron ore prices from the country's steelmakers. The Aussie market has risen noticeably of late, having exceeded the recent resistance level (at 0.68239). While the next nearby target is 0.68711, we need to see how it behaves near the latter. Meanwhile, the major support level is down at 0.63484. Long-term outlook: weak bullish. The RBA remains hawkish as per their last meeting, focusing on core inflation. Overall, it's crucial to be data-dependent with the Aussie, with recent labour data keeping the bullish script alive. However, the Australian dollar is pro-cyclical, so it is exposed to slow economic growth in other countries. New Zealand dollar (NZD) Short-term outlook: weak bearish. New Zealand's central bank recently dropped the Kiwi's interest rate from 5.50% to 5.25%. Lower-revised cash rate projections also hint at the potential for further cuts in the near future. The Kiwi has recently breached a major resistance at 0.62220. While the next target is at 0.63696, the latter area is still worth considering. Conversely, the major support is at 0.58498, an area which it is unlikely to test soon. Long-term outlook: weak bearish. In its latest meeting, the central bank's dovish stance (where it cut the interest rate) puts the Kiwi in a 'bearish bracket.' However, as a risk-sensitive currency like the Aussie, any growth data in China could trigger bullishness for NZD. As with its counterpart, traders should be data-dependent. Canadian dollar (CAD) Short-term outlook: bearish. The Bank of Canada (BoC) dropped the interest rate to 4.25%, as anticipated by the markets for some time. Further cuts in the next few meetings are on the cards, with the long-term target being 3%. Rising unemployment and weak economic growth are the key drivers for this dovishness. The ongoing mortgage stress remains another bearish catalyst. The CAD continues to strengthen mildly due to USD weakness. It now looks to test the next major support target at 1.33586, while the major resistance is far ahead at 1.39468. Long-term outlook: weak bearish. Expectations of a rate cut remain the focal point. Governor Macklem himself stated some time ago that it's reasonable to expect more cuts in the future. Moreover, STIR markets have priced in an additional cut sometime this year. The mortgage stress remains a major factor in this interest rate policy, and the BoC will have to cut rates to alleviate it. Still, this narrative is getting tired. Expect encouraging oil prices, along with general economic data improvement, to save the Canadian dollar's blushes. Swiss franc (CHF) Short-term outlook: bearish. STIR markets forecast a 25bps rate cut this week (a 43% chance, up from 36% in the last week) and a 50bps cut in December this year. Secondly, SNB expects a moderate improvement in inflation, GDP (Gross Domestic Product), and unemployment to rise slightly in the near term. Still, the Swiss franc can strengthen during geopolitical tensions, such as a worsening Middle East crisis. We are seeing a clear range on USD/CHF in a strong bear move. So, let's see which side the market is going to incline more towards going forward. The major support level is closer at (0.83326), while the major resistance level is far higher at 0.92244. Long-term outlook: weak bearish. The expected rate cut in the next SNB meetings for 2024 is the main bearish driver. However, the SNB's chairperson, Thomas Jordan, expressed that "appreciation of the Swiss Franc has an impact on monetary policy." This means that potential intervention by the central bank can go either way. Conclusion This week should be milder than the previous one filled with interest rate decisions. The main high-impact economic release to watch out for is the RBA rate statement on Tuesday. As always, hope for the best and prepare for the worst, but this report should help you determine your bias toward each currency.
by CityTradersImperium_CTI
GBPUSD Sets 2+ Year Highs as the Fed Out-Cuts its UK PeerThe pair gains nearly 5% this year and the latest round of policy decisions by the Fed and the BoE, sent it the highest levels since the first quarter of 2022. The US Fed on Wednesday made its belated pivot with an outsized 0.5% reduction and pointed to another 50 bps worth of cuts by the end of the year. The Bank of England started lowering rates earlier than its US counterpart, with the 0.25% cut of August. Still wary over price pressures though, it has maintained a cautious stance around further easing. This apprehension was reaffirmed on Thursday, as policymakers stood pat on rates. The Fed out-cut the BoE and is on track to deliver more reductions, setting up a favorable monetary policy differential for GBP/USD. Bulls now have the opportunity to push for the 1.3483 handle, but we are cautious at this time for further strength. The Fed may have pointed to steep rate cut path as it tries to ensure a strong labor market and a soft landing, but may have a hard time implementing it, as it could put upward pressure to prices. On the other hand, despite the BoE’s trepidation, pressure could mount for faster pace and two more cuts are not unreasonable. Furthermore, the RSI moves towards overbought conditions, so we could see pressure. Daily closes below the EMA200 (black line) would be needed for the bullish bias to pause, but that is hard to justify under current monetary policy dynamics. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
Short
by FXCM
Still holding AUDUSD sells - Who's with me ?AUDUSD is likely to maintain a slightly bearish bias for the remainder of the week due to a combination of fundamental factors: 1. China’s Economic Slowdown: Australia’s economy is heavily tied to China due to its exports of raw materials like iron ore and coal. Recent weak economic data from China, including softer industrial production and ongoing concerns about its property market, have weighed on commodity currencies like the Australian dollar. 2. US Dollar Strength: The USD has remained strong, supported by expectations that the Federal Reserve may keep interest rates higher for longer. While the Fed is not expected to raise rates this week, the ongoing resilience in US economic data, particularly in the labor market and retail sales, is keeping the USD in demand. 3. RBA’s Dovish Outlook: The Reserve Bank of Australia (RBA) has adopted a more cautious tone recently, with inflationary pressures easing slightly and domestic economic growth showing signs of moderation. This has reduced market expectations of further rate hikes, weakening AUD. 4. Commodity Prices: Softness in commodity prices, particularly in key Australian exports such as iron ore, has added downside pressure to the AUD. Global risk sentiment remains fragile, and lower commodity demand amid concerns about global growth, especially in China, has further dampened the outlook for the Australian economy. These factors suggest a continuation of bearish pressure on AUDUSD, although potential rebounds in risk sentiment or unexpected shifts in central bank policy could provide short-term relief for the pair.
Short
by PERFECT_MFG
1
EURGBP Bearish Bias Reaffirmed after UK CPI but BoE LoomsThe Bank of England lowered rates last month, for the first time in four years, joining major peers in their shift to less restrictive monetary settings. However, officials adopted a cautious and non-committal approach on further easing, as they remain wary of inflation which they expect to rise further this year. Today’s inflation report will likely strengthen the BoE’s apprehension, as CPI stayed above the 2% target, while core accelerated to 3.6% y/y in August. EURGPB faces pushback as a result, at the critical resistance cluster provided by the EMA200 (black line) and the 23.6% Fibonacci of the August fall. Bearish bias is intact below that level, sustaining risk for further losses towards and beyond 0.8381. The monetary policy differential is unfavorable for the pair, as the ECB has already slashed rates twice this year and at least one more cut is expected this year. The Bank of England will have a hard time moving again on Wednesday, but pressure for faster easing pace is likely to increase. Wage growth moderated substantially and this can allow greater tolerance for slower return of inflation to target, while the economy remains fragile, despite exiting its brief recession. EUR/GBP has contained its fall in recent weeks and a break above the aforementioned resistance cluster would pause the bearish bias and provide the launching pad for taking out the 38.2% Fibonacci. Greater recovery however towards the 61.8% levels looks hard under current policy dynamics. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 6 2% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
Short
by FXCM
JPN225 Correction Persists Ahead of the BoJThe Japanese index managed to swiftly rebound from the plunge caused by the central bank’s second rate hike and hawkish messaging at the end of July, as the market rout created some apprehension around the policy shift. Furthermore, the monetary setting remains accommodative and interests rates are still near-zero, while the stock market’s appeal goes beyond monetary policy and weak Yen. JPN225 comes from a strong week, fueled largely by the upbeat messaging from Nvidia CEO Jensen Huang that spilled over to Japanese chip makers. Advantest and Tokyo Electron, two of Nikkei’s largest constituents, jumped more than 7%. As a result the index tries to regain the EMA200 that would allow it to exit its correction and challenge the August highs (39,204). However, the index is cautious this week, as tech optimism wanes and markets await the BoJ’s decision, preceded by inflation update. Policymakers are unlikely to raise rates again, but communication around the path ahead will be crucial. Official have pointed to further tightening ahead and another hike this year is reasonable, as inflation is well above 2%, wages have increased and Q2 GDP posted strong growth. Furthermore, the monetary policy shift and the Yen’s rebound have led to outflows from foreigners over the past seven months. JPN225 stays in correction and below the EMA200 the risk of bear market persists, although sustained below that threshold has a higher degree of difficulty. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”) (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:JPN225
by FXCM
Will Today's CPI Report Ease Crypto Pressure Post-Debate?Macro theme: - Fears of a global recession are weighing on Bitcoin as a risky asset, though the US economy remains on track for steady growth. - Investor engagement with exchanges has decreased, with lower trading volumes reflecting reduced interest. - Bitcoin's recent gains were impacted following the first debate between Donald Trump and Kamala Harris, with odds favouring Harris. - All eyes are now on today's CPI data; if inflation falls as expected, a short squeeze could ease the recent price pressure. Technical theme: - From a 4-hour chart perspective, BTCUSD is hovering around EMA21, indicating that the sideways mode persists. EMA21 has not crossed up EMA78 yet to create a complete shift of the current sideways structure despite that BTCUSD broke its previous descending channel.  - If BTCUSD extends its gain beyond 58200, the price may continue to reach the psychology level 60000. - On the contrary, if BTCUSD breaks below 55660, the price may retest the 54600. 
BINANCE:BTCUSDLong
by DatTong
Public Sector (PSU) Banks at SupportAfter a stellar half decade post Covid, the shares of Public Banks have shown signs of exhaustion. But, the underlying companies are in good financial shape and posting record top and bottom lines. I still believe there is a lot of steam left in the like of Canara, BoB and SBI. I can see these stocks and the whole index turning back and hitting record highs in future. The idea shared is not a buy/sell recommendation. It is aimed at spreading awareness and help retail traders be more informed of the opportunities. This should not be taken as the basis of any financial commitments.
NSE:CNXPSUBANKLong
by Gaurav_Singh_5705
1
What does the future hold for Crypto Mining?I have chosen RIOT as the chart, but I am looking at MARA and also BITF. But as a whole, looking at the WGMI (Valkyrie Bitcoin Miners ETF), BTC mining companies as a whole is taking a hit. Crypto itself is taking a huge hit and of course, this affects Crypto Mining. It did seem that Crypto was going to push higher as the expectations for the BTC ETF release was going to be the first part of pushing BTC to the "moon" and with the BTC halving, money would just start stacking for holders. But that didn't happen. There is a decent amount of geo political turmoil going on. Governments selling BTC. SEC doing what it can to get Crypto labeled as securities in order to bring the coins to its realm of oversight. The Yen carry trade unwinding. The potential of a recession. But there is the other side, where there is good news going on for BTC. The possibility of BTC becoming a reserve asset. The upcoming elections, with a a lot of fingers pointing at former President Donald Trump being very pro Crypto. But even if Kamala Harris (pointed in ALTCOIN daily), says that she is in support of crypto, then that will be a good push for Crypto to move higher. There is also the FED reducing rates towards the end of September; with the recent NFP coming out lower than expected and pushing the chances for a reduction in rates for 50 basis points to 50%. So if the self fulling prophecy for BTC hitting $100k - $150k do come true, then Crypto Miners are going to be cooking. Projects are already underway and the Crypto Market has been very resilent. There are those that thought Crypto was going to collapse during the silk road incident. Then after the cash in 2017 when BTC hit $20k. Then the Terra Luna incident. FTX collapse. Mt. Gox incident. And many others. Yet Crypto is still here. The main issue I think is where all the money is pilling into, and during 2017, crypto was starting to hit the mainstream and a lot of coverage was on it. Institutions finally starting trading BTC and others, as well a lot of retail traders and investors were pilling in. In 2021, people were staying home, receiving check after check of stimulus, wondering were to put it. Then when things started opening up, businesses were offering sign up bonuses. Afterwards, during both these events, once Crypto hit a certain lvl, a ton of people cashed out and instantly became very rich. This money flowed into other products, such as wants and/or other ventures/markets. Now money is flowing into different meme coins, AI, FAANG-M stocks, among other things. If BTC is able to push higher and hit the around $120k, then MARA, holding around 13,677 BTC will be worth around $1.65 billion, RIOT with a holding of around 7,250, will be around $870 million, and BITF, with holdings of around $1,016, would be around $121 million (which RIOT is attempting a takeover of BITF, offering a buyout of BITF, which BITF did not accept. If this does happen, RIOT would become a very strong competitor to MARA, pushing its exahash production from 12.6 to 19.6. MARA has an exahash of 29.9). For the price targets, if things go accordingly, MARA will likely be able to break out of the $20 resistance, avoiding the completion of the inverse cup and handle pattern. If this pattern forms, price will likely keep pushing lower, potentially to around the $8 lvl (at least breaking the $10). For RIOT and BITF, they have the same pattern as MARA, and WGMI price is in a monthly rising channel, so there is a strong possibility that price will drop, but if things go accordingly, then prices on these companies will also avoid the acceptance of the inverse cup and handle pattern. The psychological lvls for these two companies are $10 and $2, which could be hit depending on how things go these next few months. I am in a position on RIOT and a few on BITF, my positions are at a small loss, but I am selling covered calls and cash secured puts to offset the loss, which, when factored in, puts me at a net positive. Additionally, I am participating in the stock lending program, which is further offsetting my losses. I am on the side that price will push higher and I am willing to see it through. Protect your inventory (your capital), and have some great trading out there.
NASDAQ:RIOTLong
by DollarSaenz
14