ZK airdrop & CEX listing today. Expecting price to revisit US30¢Ultra low timeframe v.high risk trade:
Sold some after claim.
But bought back in again at ~0.25 USD.
Setting sells at around ~0.3 USD with a trailing stop loss.
Optimistic reminder to self: Even if failed to hit target and left holding ZK instead, already increased initial ZK holding by a small % at the initial re-buy in point for longer-term hold; ZkSync being a super decent L2 project anyway.
5 min Chart:
Note: Measured move target estimated from the lowest level to the level when ZK first entered into the sym-triangle pattern.
1 min Chart:
M-oscillator
Onyxcoin (XCN) - Possible 100x opportunity? The alt-token market offers some interesting opportunities following retail capitulations. At this moment there is a handful of plays that generally exist under the $100m market capital evaluations. It is worth noting some of my best first long exposure to alt-tokens were below this market cap. That includes MATIC (idea at bottom), and Solana, and Cardano. How was this accomplished? Ta folks, the charts do not lie. Especially on higher time frames, this is the secret. Not 4hr and 15-minute charts!
Back in August of last year this token had a market cap of $7.4B, today it is $20m.
Why bullish? Volume. For whatever reason, volume is entering this market. No it is not me, I’m not a trader.
On the above 5-day chart a number of reasons now exist to be bullish. Why?
1) Price action and RSI resistance breakouts.
2) Regular bullish divergence (8 oscillators) as measured over a 3-month period.
3) Volume breakout. Money Flow Index is now printing a positive money, in other words buyers outnumber sellers.
4) Candlestick reversal pattern. Do you know this is bullish?
5) There is no suggestion or TA to be made here that forecasts market cap returns to $7.4B, however 27% of that to SEED_TVCODER77_ETHBTCDATA:2B would be your 100x.
Is it possible price action falls further? Sure.
Is it probable? No.
Ask for updates below.
Ww
Type: Trade
Risk: 1-2%
Timeframe for long: Now
Return: 100x
MATIC idea in September 2019 @ 1.5 cents with volume breakout
The Relationship Between BTC Spot and BTC DerivativesThe Relationship Between BTC Spot and BTC Derivatives: Analyzing Market Dynamics
Bitcoin (BTC) has evolved from a fringe digital experiment to a mainstream financial asset, attracting investors from all corners of the globe. Understanding the intricate dynamics between BTC spot prices and BTC derivatives markets is crucial for market participants. This essay delves into the relationship between BTC spot and BTC derivatives, examining how the balance of shorts and longs in the derivatives market influences the spot price and why current market conditions indicate a bullish trend for BTC on daily, weekly, and monthly time frames.
BTC Spot and BTC Derivatives: An Overview
The BTC spot market involves the direct purchase and sale of Bitcoin for immediate delivery and payment. The spot price is a single variable representing the current market value of Bitcoin. In contrast, the BTC derivatives market comprises financial instruments such as futures, options, and swaps, whose value is derived from the underlying BTC asset. The derivatives market allows traders to speculate on the future price of Bitcoin without necessarily owning the asset.
The Interplay Between Shorts and Longs
In the derivatives market, traders can take long or short positions. A long position bets on the price of Bitcoin increasing, while a short position bets on the price decreasing. The balance between these positions provides insights into market sentiment and can influence the spot price.
Predominance of Shorts and a Bullish Spot Market
When the number of short positions significantly outweighs long positions, it indicates that many traders are betting on a price decline. However, this bearish sentiment can lead to a phenomenon known as a short squeeze. If the price starts to rise, short traders are forced to cover their positions by buying Bitcoin, driving the price up further. Thus, a predominance of shorts can paradoxically create a bullish environment for the BTC spot price.
Predominance of Longs and a Bearish Spot Market
Conversely, when long positions dominate, it suggests widespread bullish sentiment. However, if the price fails to rise as expected, long traders may start to exit their positions to cut losses, leading to selling pressure that can drive the price down. Therefore, a predominance of longs can result in a bearish spot market.
Current Market Dynamics: A Bullish Outlook
Examining the current market dynamics across daily, weekly, and monthly time frames reveals a bullish outlook for the BTC spot price. This outlook is driven primarily by the current balance of shorts and longs in the derivatives market.
Daily Time Frame: On a daily basis, the market shows a higher number of short positions compared to long positions. This imbalance suggests that many traders expect the price to fall. However, this also means that the market is ripe for a short squeeze. If the price begins to rise, short traders will rush to cover their positions, buying BTC and driving the spot price up. This potential for a short squeeze indicates a bullish trend in the short term.
Weekly Time Frame: On a weekly scale, the data similarly shows that shorts are predominant over longs. The continuous buildup of short positions creates a scenario where any upward price movement could trigger a significant number of short covers, leading to sustained buying pressure. As shorts scramble to exit their positions, the spot price could see substantial gains, reinforcing the bullish outlook for the medium term.
Monthly Time Frame: Long-term analysis also points to a bullish trend, driven by the sustained presence of a larger number of short positions relative to longs. Over the monthly timeframe, the market sentiment that has led to the buildup of shorts may eventually give way to upward price movements. The longer shorts remain predominant, the greater the potential for a significant price increase when these positions are eventually covered. This scenario supports a bullish perspective for BTC spot prices in the longer term.
Conclusion
The relationship between BTC spot and BTC derivatives markets is a critical aspect of understanding Bitcoin's price movements. The balance of shorts and longs in the derivatives market can significantly impact the spot price, with predominance in shorts often leading to bullish outcomes and predominance in longs potentially resulting in bearish trends. Current market conditions across daily, weekly, and monthly time frames indicate a bullish trend for BTC spot prices. The higher number of short positions relative to longs suggests that the market is primed for potential short squeezes, which could drive the spot price upward. As Bitcoin continues to mature as a financial asset, comprehending these market dynamics will remain essential for investors and traders aiming to navigate its volatility successfully.
Kyber Network Crystal v2On the above 2-day chart price action has corrected over 90% since the sell signal (not shown) in April. Now is an excellent moment to be long. Why?
1) A strong buy signal prints (not shown).
2) Regular bullish divergence . Lots of it. This divergence is measured over a 40-day period. Look left - blue circles. This divergence includes MFI (Money flow) - Follow the money.
3) Falling wedge breakout.
4) It is beyond ridiculous how well the Fibonacci re-tracement measured the previous cycle tops. The 4th cycle top is amazing if the pattern repeats.
Is it possible price action falls further? Sure.
Is it probable? No
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Don’t know.
Return: 50x
$SPY June 14,2024AMEX:SPY June 14,2024
15 Minutes.
AMEX:SPY made low 539.59 and did not cross 544.5.
For the holding 539.5 levels we can look forward to 545-546 range.
In 15 minutes AMEX:SPY made LL 3 times, but Oscillator 5,35 has turned positive.
So based on this divergence i expect 539 to be held today as it also happens to be 21 averages in 60-minute time frame.
On downside we have strong support at 538 and 536 being 100 and 200 averages in 15 minutes.
Bias is long.
Crypto ready for a cookoff?Revisiting a weekly chart of a 9 symbol crypto mega cap index (BTC, ETH, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC) one can't help but notice price resting on a shelf that was formed during momentum running deep into overbought territory. As the shelf is more or less flat for many months, we see momentum cooling into saner levels.
Price could continue to base out in what turns out to be a bullish flag, especially with the Nasdaq 100 ripping fresh records, inflation cooling, rate cuts likely etc... It's also a scary place to think about going long on crypto though as there's a big gap down to the major support level!
$SPY June 12, 2024AMEX:SPY June 12, 2024
15 Minutes
Looks like AMEX:SPY has sorted out the 532 levels for the moment.
It tried to break today and ended up in holding and making 537 ATH.
Hence considering 532.04 as new low the rise to 534.77 retraced 50% of the move. And now wave 3 in this move looks like in motion for a target 540-542, provided 533 is held.
For the day, considering the rise from 533.05 to 536.63 holding 534 levels uptrend intact for 540+ levels.
On downside if 533 is broken I have a target 530 being 200 averages.
Bias is long as of now.
Oscillator looks like gotten sorted out.
How to read mean returns (Expand the indicator)Mean returns is a trend detection and overextension indicator. It oscillates around the value of 0. The mean return line in reality is the orange one as well as the blue one. The difference is in the number of data points into the past that they consider. Since the value of those lines is the expected value of the returns in period t, then if it's over 0 the expectation is that returns will be positive, as previously the price has been trending higher. The opposite being true as well.
Meanwhile, the red and green line represent the expected upwards and expected downwards returns. That means you only take the expected value for the days in which the return was positive or negative accordingly. Therefore, if the mean returns are over the expected upwards returns the price is likely to be overextended, and vice versa.
Other adjustments were made to consider the current candle. This code will remain private, as it took a lot of effort to invent. I hope you are able to understand the math. If you can't, I hope this at least allowed you to read the meaning of the indicator through this.
Why I Think GBPUSD Will Sell This Week...Technical AnalysisHey Rich Friends,
I wanted to share my technical analysis of GBPUSD. Please remember to cross reference your own chart, indicators and the news for most comprehensive analysis. I think we can expect to see more selling and here is why...
1. The candles have already rejected the previous supply zone (red box)
2. The purple 10 EMA (Purple) has crossed below the 3 EMA (Blue), and this is a sell confirmation for me
3. The Stochastic is facing down, the slow line (orange) has crossed above the fast line (blue) and both the fast and slow lines are below 50. This is a sell confirmation for me
4. There is also a big gap that has to be filled in the market before the buying continues so I have set 3 potential TPs.
5. My SL will be at a previous high
I hope this is helpful. Please let me know your thoughts on this idea and if it makes sense to you!
Peace and Profit,
Cha
Slerf is poised to rebound hard...The large #memecoins on #Solana
Have provided a wealth of opportunities
We must appreciate their strength and wonderful gains they have brought people
Their is no use crying on the sidelines that your coins aren't pumping
When we see what #WIF , #BONK have been doing
Keep you core coins that you like
but also if you bringing in fresh FIAT into this casino
I like Slerf at these depressed levels
as it may rise up in sympathy as Solana takes aim at a new cycle high.
The bollinger bands are squeezed in
the slow stochastics are perky
and we have our higher lows in place.
Bitcoin's Stalled Breakout: A Test of Bullish Resolve
Bitcoin (BTC) ended last week with a whimper, failing to decisively break out of a bullish technical pattern and overcome key resistance levels. This has left many investors questioning the short-term trajectory of the world's leading cryptocurrency. After a price drop on Friday and a lackluster weekend, what can we expect from Bitcoin in the coming days and weeks?
The Failed Breakout and Bullish Doubts
The recent price action centered around a prominent technical pattern known as a bull flag. This pattern typically precedes a bullish continuation, with a price consolidation period following an uptrend. However, Bitcoin's attempt to break above the flag's resistance level at the end of the week proved unsuccessful. This failed breakout has cast doubt on the immediate bullish momentum and raised concerns about a potential reversal.
Technical Indicators: A Mixed Bag
Adding to the uncertainty are technical indicators that paint a conflicting picture. Some, like the Relative Strength Index (RSI), are hovering around neutral territory, suggesting neither overbought nor oversold conditions. This could be interpreted as a sign of potential buying pressure waiting to be unleashed.
However, other indicators like the "death cross" – formed when the 50-day moving average dips below the 200-day moving average – have emerged, historically hinting at a possible short-term price decline.
The ETF Inflow vs. Hedge Fund Shorting Tug-of-War
Beyond technicals, a fascinating dynamic is playing out between two opposing forces in the market: inflows into Bitcoin Exchange-Traded Funds (ETFs) and short positions taken by hedge funds.
On the bullish side, significant inflows into Bitcoin ETFs have been observed. This suggests institutional interest in the cryptocurrency remains strong, potentially providing a buying force that could propel the price upwards.
However, this optimism is countered by reports of hedge funds taking large short positions on Bitcoin. These bets essentially profit if the price falls. This shorting activity could act as a headwind, potentially hindering any significant price gains.
Short-Term Bounce vs. Long-Term Trend
While a short-term bounce from current levels seems likely, predicting the long-term direction of Bitcoin remains a challenge. The failed breakout and bearish technical indicators raise concerns about a potential downward correction. However, the underlying fundamentals, including strong institutional interest and Bitcoin's limited supply, suggest long-term bullish potential.
The Bottom Line: Patience and a Multifaceted Approach
For investors, the current situation necessitates a patient and multifaceted approach. Monitoring both technical indicators and on-chain data to gauge investor sentiment can provide valuable insights. Additionally, staying informed about regulatory developments and broader market trends is crucial, as these external factors can significantly influence Bitcoin's price.
Ultimately, while the immediate future of Bitcoin is uncertain, one thing remains clear: the battle between bulls and bears is far from over. The coming weeks will be telling, revealing whether Bitcoin can gather enough strength to overcome the recent setbacks and continue its upward trajectory.
Solana Searching For Direction: Will SOL Break Free Or Fall Flat
Solana (SOL), the high-speed blockchain once leading the charge in the 2023 bull run, finds itself in a state of uncertainty. Over the past few days, SOL's price has been stuck in neutral territory, oscillating between $155 and $170. This stagnant price action leaves investors both cautiously optimistic and undeniably confused about the future direction of the cryptocurrency.
Conflicting Technical Signals
Technical indicators often used to gauge cryptocurrency price movements paint a conflicting picture for Solana. On the bearish side, the dreaded "death cross" has emerged. This ominous signal occurs when the 50-day moving average dips below the 200-day moving average, historically indicating a potential short-term price decline.
However, a glimmer of hope remains. The Relative Strength Index (RSI) for SOL currently sits in neutral territory. While not a bullish sign in itself, a neutral RSI suggests some underlying buying pressure, even if it's weak. This contradicts the "death cross" and hints that a significant price drop might not be imminent.
External Factors Loom Large
Beyond technical indicators, external factors could significantly impact Solana's future trajectory. Regulatory decisions from governments and financial institutions remain a wild card. Stringent regulations could dampen investor confidence and hinder the growth of the entire cryptocurrency market, including Solana.
Furthermore, the broader market sentiment plays a crucial role. If the overall cryptocurrency market experiences a significant correction, it's highly likely that SOL would be dragged down along with it, regardless of its own technical merits.
Solana's Strengths: A Beacon of Hope?
Despite the current uncertainty, Solana boasts several strengths that could propel it forward. Its blazing-fast transaction speeds and scalability have attracted developers seeking to build innovative decentralized applications (dApps) on its platform.
A thriving dApp ecosystem is crucial for any blockchain's long-term success. If Solana can continue to foster a vibrant dApp developer community, it could drive increased demand for SOL, potentially leading to a price surge.
Analyst Predictions: A Mixed Bag
Looking ahead, analysts offer a mixed bag of predictions for Solana's price. Some, like the report from CoinCodex, project a bullish surge to $185 by July 10th. This optimistic outlook hinges on the assumption of positive developments within the Solana ecosystem.
However, this bullish sentiment clashes with the bearish technical indicators and the "greed" reading on the Fear and Greed Index. A high "greed" reading can sometimes indicate an overvalued market, potentially leading to a correction.
The Verdict: Wait and Watch
In conclusion, Solana's current state presents a complex picture for investors. While technical indicators are sending mixed signals, the broader market environment and potential regulatory hurdles add further uncertainty.
However, Solana's core strengths in speed and scalability remain attractive. The continued development of a robust dApp ecosystem could be the key to unlocking SOL's true potential.
For now, investors should adopt a wait-and-watch approach, closely monitoring both technical indicators and external factors that could influence Solana's price.
SPX500 trading in bullish channelThere was some volatility in the market last week. Nevertheless, the SPX500 is trading in a bullish area. The longer this is maintained and the RSI remains above 50 the greater the likelihood of higher prices ahead.
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Past Performance is not an indicator of future results.
Bitcoin (BTC) market overview | 10.06BTC’s daily chart portrays a significant rise from $60,176 on May 10 to the $71,958 high, followed by a correction and sideways movement. This pattern suggests a phase of price discovery and consolidation. Volume spikes accompany major price moves, with decreased volume during consolidation. Key support and resistance levels are $60,176 and $71,958, respectively.
Oscillators provide a mixed picture, with the relative strength index (RSI) indicating neutral conditions. The commodity channel index (CCI) at 39 and the average directional index (ADX) at 24 also suggest neutrality. However, the momentum indicator at 1941 signals bullish sentiment, while the moving average convergence divergence (MACD) level at 1007 indicates bearish sentiment.
Moving averages (MAs) show varied signals, but longer-term EMAs generally suggest reinforced bullish sentiment for the long-term outlook.
Given the mixed but generally positive signals from the longer-term moving averages and the momentum indicator, the overall outlook appears bullish. If bitcoin can break through the key resistance levels with strong volume, it could see significant upward movement.
WHITEBIT:BTCUSDT
$SPY June 10, 2024AMEX:SPY June 10, 2024
15 Minutes
On Friday as expected rectangle breakout happened with retrace and high also was 536.9.
As seen in chart the oscillator 5,35 still has not worked out as expected and AMEX:SPY finding it difficult to break out on upside.
AT the moment we are having 100 averages around 533. So holding of 532 is important today.
For the last fall from 539.9 to 533.49 4SPY retraced 61.8% to 535.44. Hence uptrend today only on crossing 536.45 levels for a target 538-240.
On downside i expect 529-530 to hold if 532 breaks being 200 average supports. It also happens to be 50 and 100 moving average support in 60 minutes time frame.
In one hour, we can see clearly. It was a steep rise from 518 to 535. Hence a sideways time correction in progress.
So, for the day buy above 536.5 fir 538-539 and sell below 532 for 529-530.
Not much of a R: R so I will not trade today, unless I get a good bar in 15 minutes, close near top and good volume.
Filecoin / USD / BTC - Regaular bullish divergenceOn the above daily chart a ‘incredible buy’ opportunity now exists following a 80% correction since April with oversold condition (orange column). Why bullish?
1) Price action breaks out of resistance to find support.
2) Regular bullish divergence. Lower lows in price action with RSI and MFI higher lows. There is actually 8 oscillators showing bullish divergence with price action at this time, but for the sake of keeping the chart clutter free they are not all shown here.
3) Stochastic RSI is crossing up 20. The green shaded area only occurs when high probability of uptrend exists - look left.
4) Price action against BTC on the daily chart (below) is also showing similar oversold conditions with ‘incredible buy’ opportunity. Excellent.
5) The 10-day chart (bottom) is currently testing support on past resistance.
Is it possible price action falls further? Sure.
Is it probable? Very unlikely. Excellent risk/reward ratio at this time.
Good luck!
WW
FIL / BTC daily chart:
10-day chart:
Biconomy (BICO)On the above 4-day chart price action has corrected by 95% since January 2022. Today is great long opportunity. Why?
1) RSI and price action resistance breakout.
2) Multiple oscillators print bullish divergence across a 3-month period.
3) Seller weakness. Notice the long candle wick into seller territory?
4) Price action prints support on past resistance. Look left.
Is it possible price action falls further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: <=6% of portfolio
Timeframe: Now, don’t sit on your hands.
Return: Will say elsewhere.