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Crypto Market Update BTCUSDTMARKET ANALYSIS: Market Cap.: $1,035,399,793,513 24h Volume: $86,171,585,363 BTC Dominance: 39.8% ETH Dominance: 20.1% 🔸BK® Health Standard: 3.81 (1 to 10) 🔸BK® Sentiment: -31.28% (-100% to 100%) ➖➖➖➖➖➖➖ BINANCE ANALYSIS (BTC pairs): Top Gainers 1. STG: +105% 2. SANTOS: +21% 3. RAD: +17% Top Losers 1. QLC: -12% 2. YFII: -11% 3. GTC: -11% BINANCE FUTURES: Top Gainers 1. TRBUSDT: +5.57% 2. KNCUSDT: +4.14% Top Losers 1. GTCUSDT: -18,73% 2. FILUSDT: -18.10% LARGEST VOLUME (24h) 1. ETH/BTC (10,277 BTC) 2. ETC/BTC (1,110 BTC) DAILY OUTLOOK Both BTC and ETH market dominance have dropped slightly, with the latest high volume drop in price action for most alts in the market. BTC and ETH have reached new higher time frame lows, and could be about to head lower if we don’t see bullish volume starting to kick in.
by MetaFutures
A Bearish Call On Financial Markets and The Global Economy China/Europe/EM: The UK and the entirety of Europe are in trouble. The UK now experiencing double-digit inflation and to make matters worse they are facing extreme weather and an energy shortage going into the winter. All the while Putin's war is complicating European energy supply and political ties even further. China is experiencing civil unrest, mostly thanks to an ugly property crisis. China also is experiencing lower-than-expected GDP growth. China's economy slowing has large implications given its massive presence in global trade. Emerging markets are struggling partly due to an incredibly strong dollar as well as a tight global food/energy supply. US: The US housing market is in a recession with 6 straight months of declining sales and more importantly a monthly decrease in median home prices for the first time in years (the housing market gets hit first by rising rates… remember 08?). US consumer credit I.e., debt levels, are through the roof. Signaling that the consumer might not be as strong as market commentators are saying. Layoffs are increasing steadily, while inflation is staying high. I am bothered to see the number of peak inflation calls after just ONE MONTH of zero gains in headline inflation. The FED is now in a lose-lose scenario where they can continue to aggressively tighten and bring down this wildly levered up global economy or back out and try to save the issue for a later date. The latter would cause additions to the size of their already immense balance sheet and create an ultra-severe recession later down the line. Either way, the recent rate hikes have not at all been fully felt by markets, and add on the possibility that the FED truly commits to QT, then a few quarters down the line we will start to see a serious weakening of market conditions across the board (equities, bonds, real estate, you name it). Forecast: Risk assets globally are going to get decimated during the next several months of trading, especially low-quality speculative names. Crypto investors should prepare to see some nasty losses, BTC to 9800, and ETH to 575 seem attainable in the medium-term. S&P 500 will NOT make any substantial or sustainable gains over the 4300 mark, 3500 is my next low target. Nasdaq 100, like crypto, is in for a large selloff, next target: 10,200. VIX will rise substantially, and could easily double from current levels. The dollar will stay higher as US rates rally upward, likely well higher than markets currently have priced in. Some commodities will make new highs- nat gas- while others like oil are poised to depreciate modestly but remain historically high. Low/non-profitable, high debt companies- Wingstop and its zombie cohorts - are at high risk of bankruptcy in the coming quarters. Widespread bankruptcies are on the horizon. Things look a little too good to be true right now in financial markets… well that's because they are. On the bright side, this bear market bounce of the past 60ish days has provided a good opportunity to exit risk assets, load up on cash and begin to add on to short positions. As always this is not financial advice. Good luck!
ECONOMICS:USCCR
by Gooby_Trades
3
Between BlackRock and a TornadoThe connection between traditional finance and crypto is more closely linked than ever before as institutional demand for our treasured asset class rises rapidly. Last week we saw BlackRock, the world’s largest asset manager with approximately $8.5 billion under management, endorse bitcoin by offering a spot bitcoin private trust to their U.S-based investors. Being the largest asset manager in the world, it could be likely that all of their competitors will quickly follow suit to ensure they also offer the capability to their clients. To provide additional access, BlackRock also partnered with Coinbase to provide infrastructure for their institutional clients to invest in crypto assets. BlackRock’s industry leading portfolio management software, Aladdin, is used by over 200 of the world’s largest institutional investors and manages over $21 trillion in assets. Aladdin and Coinbase will combine forces to offer a seamless portfolio management system for crypto, with Coinbase handling the execution and custody of the assets whilst Aladdin will handle the portfolio management aspects all through the Aladdin interface. It could be argued this is a major step in proving the legitimacy of bitcoin, especially with BlackRock being the main influencer on ESG investing. It additionally showcases the demand for exposure to the asset from BlackRock’s institutional clients. Tornado Cash – the popular mixing service that enables on-chain privacy – came under heavy fire last week from governments globally. The US Treasury Department’s Office of Foreign Asset Control (OFAC) sanctioned the protocol – leading to any American using the site breaking sanction laws. The sanction was argued due to the allegedly high number of illicit funds being laundered through the protocol and to prevent hacker groups, such as the Lazarus Group, from laundering stolen crypto funds. Dutch authorities arrested one of the protocol’s developers and have stated they will take further action against DAOs that may enable money laundering. Could this be the start of the war on Decentralised Finance (DeFi)? The implications of being linked to, or seen facilitating on-chain activity, with a wallet in connection with Tornado Cash have also prompted “decentralised” protocols to ban addresses from using their services to remain compliant with regulatory bodies. Due to the transparency and accessibility of crypto, any individual can send anything to any wallet address, with the owner unable to stop their wallet from receiving transactions. The banning of Tornado Cash sparked an onslaught of withdrawals from the protocol to famous personas’ wallets, such as Jimmy Fallon and Dave Chappelle, leading to them having broken sanctions laws and being punishable for up to 30 years in prison… technically speaking. Aave, the popular lending and borrowing protocol, banned the wallet of the founder of Tron, Justin Sun, as he was sent funds from Tornado Cash by the same unknown entity. The act of Aave banning wallet addresses has created a stir in the crypto community, with many individuals doubting how decentralised these protocols actually are with their ability to intervene and ban wallet addresses. Some commentators have argued the act of government submission completely contradicts the ethos of crypto and DeFi. Coin Centre, the crypto privacy advocacy group, has stated they will challenge the sanction as it “exceeds statutory authority”. Ever since crypto began, nation-states using crypto for their own benefit was seen as the final boss before global adoption. Last week Iran funded an import worth $10 million using crypto. Their usage has been instigated due to them being the second most sanctioned country in the world behind Russia – limiting their ability to trade with other nations using the existing banking systems. One of the country’s ministers also stated that “By the end of September, the use of cryptocurrencies and smart contracts will be widely used in foreign trade with target countries.” The increased usage of crypto from states like Iran could be seen as a double-edged sword. It demonstrates the key tenets of sovereignty and impartiality where every individual should have the right to transfer value. However, depending on your geopolitical preference it could be deemed only useful by those not accepted into the system and arguably the wrong people. This use case increasing in prevalence could also give further credence to governments to ban and regulate crypto with the argument and trump card of national security. Conversely, Ukraine has used crypto to raise well in excess of $100 million in donations to aid their fight against Russia – which would likely be viewed as a positive by the same people who condemn its usage by Iran. As with any technology, the usage and the users define its morality, despite the technology always remaining impartial. When analysing price action, these developments have not had a major impact on the price of bitcoin. From a technical perspective, bitcoin is positioned between a rock and a hard place in an ascending channel, with the $24,500 level proving hard to crack. The 100-Day moving average is also hovering at this level. A higher timeframe close above this level could be a strong indicator that the rally could continue with the next target likely being the $28,000 level where 2021 yearly candle opened and where we consolidated over summer 2021. Rejection from here could see us retest lower levels and the 200-week moving average that is situated around $23,000. However, with fear and greed reaching the highest levels seen in the past 4 months and Dogecoin and Shiba Inu pumping hard, these are telltale signs that an interim market top may be forming. The S&P 500 is also touching some strong resistance around the $4,300 level and with even further institutional involvement and intertwined portfolio management systems, rejection from this level could be the catalyst for a return to lower levels – with crypto potentially taking the hardest hit.
by Coinrule
$IWM 280 by end of 2024?Market starting to show signs of a final melt up ? Just offering this bull case, of course we could certainly see 120 before 280, but 200 weekly MA has offered support in the past followed by strong moves up, less 2008 financial crisis and 2020 covid crash. So I guess real question for the bear case would be - what is the black swan event ? Because for certain Inflation, war , etc. are just headwinds. A true BLACK SWAN EVENT is needed it seems.. what will it be then ? My bias is long ... for now :)
AMEX:IWMLong
by FriscoTrades
Resistance to ChangeJuly was a reassuring month for crypto, and financial markets in general, stimulated by the Federal Reserve deciding a 0.75% rate hike was sufficient to slow inflation. They also stated the 2.25-2.50% federal fund rate is now neutral – no longer contributing to growth or contraction within the economy. This caused markets to rally on the expectation there may not be many further rate hikes and the possibility the worst may be behind us. Last year, July marked the bottom of the summer correction and the start of the rally that resulted in new all-time highs. This year, July saw a 16.6% monthly gain for bitcoin – the highest monthly gain since October 2021. This was outshone by ether’s monumental monthly gain of approximately 57% – the largest since January’s 2021’s 78% gain and the fifth best month over the past 5 years. The ETH/BTC chart conveys this spectacle well. Ether appreciated by 28% against BTC since the start of June – demonstrating the increased upside Ethereum has compared to its larger counterpart. However, last week it was Ethereum Classic (ETC), that saw the greatest gains. ETC saw a 94% surge within 4 days, with price still trading within 20% of the high. It is suspected this was caused by The Ethereum Merge that will result in Ethereum moving from proof-of-stake to proof-of-work (POW). This will render the Ethereum miners’ expensive equipment, used to solve the mathematical puzzles used in POW, obsolete and the miners’ $18 billion annual revenue disappearing. On the other hand, Ethereum Classic will remain proof-of-work, driving Ethereum miners to potentially put their equipment to use securing the Ethereum Classic chain. However, Ethereum Classic’s mining revenue amounts to only 3% of Ethereum’s. AntPool, one of the largest mining pools and an affiliate of Bitmain, a large mining equipment manufacturer, announced it would invest $10 million to develop and create new applications on the Ethereum Classic ecosystem in an attempt to increase the adoption of the blockchain, and the sales of their rigs. Bitmain also stated they will accept payments for their machinery in ETC. Will Ethereum’s fundamentalists win? On August 2nd, ETC total value locked (TVL) sat at $230,000 and transaction volume was $162 million compared to ETH’s $57 billion TVL and $3.8 billion transaction volume. The loyalists will require some serious network effects to capture any market share. Fidelity has stated that bitcoin will be the only 401(k) crypto product they will offer with a 20% allocation limit per portfolio. It could be argued that this is a huge step in the right direction with a behemoth asset manager, such as Fidelity, believing bitcoin is a suitable product for retirement plans. On the other hand, it also demonstrates the rest of the space is generally regarded as unproven and untrusted. This opinion was echoed by three anti-crypto American senators this week who deemed Fidelity’s move to include bitcoin as “immensely troubling”. Institutional hesitancy towards altcoins can be understood when considering institution’s risk aversion. The nature of the nascent crypto space where the “build fast and break things” approach, which can sometimes be taken advantage of, is also a hinderance. Incidents such as the $190 million exploit on popular token bridge Nomad that occurred this week is case in point. Solana also experienced issues this week with popular Solana wallets, Phantom, Slope and Trust Wallet, being exploited with their users’ funds being drained from over 8,000 wallets. After the collapse of CeFi and now these breaches on hot wallets, crypto asset security has become an even bigger priority for all crypto users. Ledger, the popular hardware wallet provider, has perfectly timed its rumoured discussions of seeking to raise an additional $100 million in funding. It is rumoured the round will be at a higher valuation than their previous $380 million raise at a $1.5 billion valuation last June – showcasing the growing demand for protecting crypto wealth even during this market downturn. Thankfully, resistance to change can provide profitable opportunities as the herd stays away from “risky” assets. Howard Marks details in his investment bible, “The Most Important Thing”, that the highest risk-adjusted returns are obtained when buying assets that are considered “not fully understood, fundamentally questionable on the surface, controversial, unseemly or scary, deemed inappropriate for “respectable” portfolios or recently the subject of disinvestment”. We wonder what asset class meets these criteria…
by Coinrule
Possible next move in SPXHi everyone. Today I'm gonna talk about SPX. In this moments the price have 2 posibilitties: Option A: We have a double bottom pattern and the price will go to the level of pattern and then we need to wait a intentional canddle who confirms the change pattern. In this point it's good enter to long (more risk) Option B: The price will go to te resistance and then will fall to the support (here we can enter with a short). In the support we need to wait if the price will go down or bounce to the resistance again (good opportunity to enter long) Thanks for read this and leave me a comments or questions and if you like this analysis, follow me. See you soon !
SP:SPX
by huraz
Bitcoin: market overview updateAs mentioned in our previous overview, there were 3 possible scenarios for market development. As we can see, 4 days later, the price is in the correction . This is scenario 2. This correction wave formed the new resistance level with the borders of $23,900 - $24,800. After the correction comes to an end, the buying opportunity will appear. It may happen even today. In this case the first target is that resistance, and if the market is strong, the price can move towards target #2 - the highs of June 7 - $31,965 - $31,400. If the correction continues, the market can move towards the nearest Daily support - $20,800 - $21,220. But the market is in the uptrend and we should look for buying opportunities.
BITSTAMP:BTCUSDLong
by JIexa1701
The Merge Trade Ethereum’s rise from the ashes over the past two weeks has demonstrated why you should not underestimate bear market rallies. Prior to its explosive surge, covering over 50% in a week, the second largest crypto asset was tracking bitcoin’s moves closely. Now it appears to be the one leading the rest of the market and showcases the market’s shift to a more risk-on stance. Last week saw the second week of inflows to Ethereum crypto funds, investors predominantly being institutional investors, totalling $5 million. This is a major shift compared to the past three months where there were 11 consecutive weeks of outflows. The catalyst for Ethereum’s upside is assumed to be the news relating to the Ethereum Merge which includes the transition from a proof-of-work to a proof-of-stake consensus mechanism. A timeline was spoken during an open developer call, detailing the Merge could be expected September 19th. The Merge will result in Ethereum becoming deflationary due to annual issuance being slashed by 90%. This increasingly supports the narrative that ether is a growing store of value. Investors have caught onto this prospect, leading to the asset being argued undervalued as future supply is diminished. Overall, the market’s strength has been impressive, especially considering the higher-than-expected 9.1% CPI data prompting potentially further future rate hikes from the Federal Reserve. However, something to keep in mind is the ferocity of bear market rallies being created by short sellers getting squeezed. This leads to them being forced to buy back their short positions to prevent further losses causing further buying pressure and resulting in another cycle of short sellers buying back. Last week centralised exchanges recorded their lowest trade volumes since December 2020, leading to order book liquidity being thin and volatility being heightened - creating the perfect storm for a short squeeze. On Monday, Ethereum’s move to over $1,600 saw liquidations of nearly $500 million within a 24-hour period. However, Ethereum has increasing competition to be the chain leading the pack, in terms of global crypto adoption. In relation to active addresses, Solana has also been dominating the battle for layer one supremacy. In June, Solana registered 32.23 million active addresses compared to Ethereum’s 12.93 million. Over the past several weeks we have been seeing the question: How will crypto attract 1 billion users over the coming years? This has been answered with crypto-native phones – the first to be announced was Solana’s Saga followed by Polygon and HTC. These devices will be specifically designed to interact with decentralised applications, with the user experience of dealing with self-custody wallets and signing for transactions being substantially improved. Additionally, the current app store high fee infrastructure which disincentives developers to build apps will be overhauled with Solana’s Mobile Stack. This could lead to improved decentralised applications with further use cases, better refinement and increased accessibility - causing more people to participate in crypto. From a technical perspective, Ethereum has broken out from the month-long range of $1,050 to $1,250 and is facing resistance around $1,600. The true test will be penetrating the $1,700 key level that marked the summer 2021 lows. The 100-day moving average also looms around $1,900 and will be another test if there is sufficient demand to outweigh the uncertain macroeconomic environment and continue on our upward trajectory. If rejected from this level the move could be rendered a bearish retest of our once strong support and we could retrace lower back into an area of demand. News of Tesla liquidating some of their bitcoin position is not helping the bulls. Their earnings report detailed they sold 75% of their bitcoin holdings during Q2, totalling $936 million, at an average price of approximately $29,000. However, Musk emphasised this is not an indication of bitcoin's fragility but rather Tesla improving its liquidity in light of Covid shutdowns in China and other economic factors.   Reaching the fabled $1 Trillion total crypto market cap level is a strong indication of the resilience of the sector. $1 Trillion is also the market cap of silver, and when compared showcases how small crypto is relative to other asset classes. There are many bullish catalysts on the horizon for crypto, the Ethereum Merge, the Bitcoin Halving and crypto native mobile devices potentially accelerating global adoption to 1 billion users and beyond. Will these tailwinds be able to fight the macroeconomic headwinds of the likely incoming increased interest rates and recession? The past week has shown promising signs, but the real test will be if bitcoin can reclaim and hold the 200-week moving average - continuing to make higher lows. If you are long-term bullish on the space the reverse clause of whatever is ahead should be appreciated. Rejection and a return to lower prices meaning more time to accumulate at lower valuations, or more positively, the market recovering and portfolio values appreciating.
by Coinrule
Market Analysis - SPY PerformanceIn this post, I will attempt to analyze where the market currently stands, and present both a strong bull case and a strong bear case. Bull case: First, the chart: The chart above shows the S&P 500 ETF (SPY) on a 4h timeframe. The yellow and orange lines are exponential moving averages that represent the MA Exp Ribbon. As noted in a prior post, the MA Exp Ribbon acts as resistance when price hits it from below. In order to pierce through the ribbon, and make a bullish breakout, a candle must do so on high volume and with strong momentum. On the bottom is the Stochastic RSI oscillator, which helps measure momentum. For the first time, in a long time, the 4h chart of SPY has seen price near the top of MA Exp Ribbon with strong momentum building to push through it. It is quite likely that the price will break through. Second, the VIX: As the chart below shows, the VIX has broken down from the trend that it held during its most volatile period over the second quarter. Just be cautious and patient because the VIX has not yet broken below its weekly MA Exp Ribbon. Third, the Advance-Decline Line (ADL): The advance-decline line has broken out and is absolutely soaring. This is possibly one of the most bullish-looking charts out there. The advance-decline line is a technical indicator that plots the difference between the number of advancing and declining stocks on a daily basis. The advance-decline line is used to show market sentiment, as it tells traders whether there are more stocks rising or falling. It is used to confirm price trends in major indexes, and can also warn of reversals when divergence occurs. Right now there is a strong bullish divergence and the major indices have yet to break out. Seasonality: The current period (mid- to late-July) is typically bullish from a seasonality perspective: charts.equityclock.com . Indeed, there was a bull run during this period even in 2008 during the Great Recession. Bear case: (Warning this part is scary - but remember never to invest or trade based on emotion) Yield curve inversion: The 10-year minus the 2-year Treasury yield is used to detect an impending recession. When the 2-year yield rises above the 10-year yield that creates a yield curve inversion, which can often indicate that a recession is coming. In essence, it creates the presumption that shorter-term yields are higher than longer-term yields because we're in the late phase of an economic cycle when the economy is overheating, and that soon, the economy will slow down. Right now the yield curve inversion is very steep. In fact, just last week, the yield curve inversion actually steepened to a level that was even worse than what we saw before the Great Recession. Perhaps even more alarming is the extremely odd fact that the 10-year minus the 3-month Treasury is NOT indicating a recession. The federal reserve uses the 10-year minus the 3-month as a more reliable indicator for detecting an impending recession than the 10-year minus the 2-year. Right now that indicator is only showing a 6% chance of a recession in the year ahead: www.newyorkfed.org However, there's a major problem that throws into question the reliability of that indicator at the current time, and that problem is: The Rate of Change in the 10-year yield is off the charts. Look at the 10-year yield Rate of Change on a 3-month basis: There's no way the 3-month yield could possibly invert relative the 10-year yield when the latter's rate of change is off-the-charts, unless the former's rate of change was even more off-the-charts (as we see with the 2-year, which is why the 2-year was able to invert against the 10-year). Here's the 2-year yield rate of change: Therefore, the 10-year minus the 3-month may be showing no inversion, not because the chance of a recession is actually low, but more likely because the indicator itself is no longer working because the rate of change in the 10-year yield is so parabolic. The 10-year minus 3-month indicator only reliably works if the assumption that the 10-year yield rate of change will be relatively stable compared to the 3-month yield rate of change holds true. In the current environment, that assumption does not hold true. We've never seen this kind of rate of change in the 10-year yield during the period for which this indicator has been used to predict recessions. The 3-month yield would have inverted against the 10-year yield months ago, if the 10-year yield had remained relatively stable as it has during the past several decades. However, the 3-month yield cannot invert against something moving so fast to the upside. This is just simple math. This is extremely worrisome because many people are using this tool as a reason to believe that no recession will occur, when in fact, the tool has likely broken. In the scientific community, we know that a tool only works if its validity and reliability can be established. Validity refers to the extent to which the tool actually measures what it is being used to measure, and reliability refers to the extent to which the tool consistently makes accurate measurements. In this case, the reliability of the 10Y-3M tool has broken down because the assumption that the 10-year yield would always be more stable relative to the 3-month yield is not true this time around. This time is indeed different... So I leave you with these strong bull and strong bear considerations, and it is for you to determine how you want to play the market. Remember the rules of good trading!
AMEX:SPYLong
by SpyMasterTrades
11
BTCUSD weekly chart analysis. Trying to identify crucial levels for a bounce. I do not know where the bottom is and I am not trying to guess it either. I am however trying to identify potential areas that could give the market a push up and take it from there. Trade 1 level at a time and see what the market gives us. I do not see how this can be a reversal point as the issues that drove the market down, are still in play and with potential for more downside in the near future. The direction of the trend is downwards. Will need to see a change of market structure to confirm a reversal. Take it one level at a time and identify support and resistance. Trade those levels until it breaks to the upside or downside. There is no need for any kind of FOMO. It is ok to miss a trade and I would prefer that to losing money. You do not have to trade everyday. Only if one presents itself. Capital Conservation is the most important factor in this market. DO NOT listen to the twitter crews that always scream bullish. Listen to real traders and analysts. Many out there that do free market analysis. You do not need to pay 1000s for courses or indicators. Everything you need is out there for free. If anyone needs material on charting, message me and I will be happy to share what I have with you. Very volatile market so capital preservation is the primary goal here. Take small profits and compound it. Find strong areas of support and resistance and trade accordingly. Trade the range and not the news. Inflation is high and so there should be no surprise each time to FED speaks, but there always seems to be some emotional sell off or pump each time. So watch out for those. The biggest transfer of wealth of our times is happening at the moment, so make sure you fall on the right side. Do not over complicate things. Stick to your levels and do not fall for "pumpamentals" Remember this: YOU DO NOT NEED TO FIND THE EXACT BOTTOM OR TOP. Just need to find a good entry to take some money out of the market each time. As a great trader once told me, when everything is bullish , look for a reason to be bearish (and vice versa) and you will never get surprised. Heard mentality will get you crushed in this market, so do not blindly follow any signals. Help yourself by learning some charting. Simply learning to identify support and resistance will save you some money. Take it one step at a time and you will get there. There will always be a new indicator or magical new tool that will promise the world. Remember this, most indicators are reactive tools and will give you a signal once a significant part of the move is already done for. Everything you need to trade can be found on tradingview and they are available for free. Many of your fellow traders have worked hard and have made many of their tools available to you for free. You do not need to spend 1000s to buy an indicator that will give you your dreams. If this is your first bear market experience, hold steady and preserve your capital at all cost. Do not guess the bottom or short the bottom. When you make it to the other side of this market, it will change your life. You would have learnt a lot of things that will help you understand the market and will help you make better financial decisions in the future. Final note. Everyone makes money in the market, but only a few manage to keep it. Be one of the few and not the many. Good Luck with your trades and lets try to find ways to help each other to find a life of financial freedom.
BYBIT:BTCUSD.P
by MikePillai
The bearish scenario is still more likelyHello to all members of TradingView and my followers. Well, Bitcoin failed to breach the $20,500 resistance area and thus started the decline. There was immediate support on the downside near the $20,000 level, which failed to stop Bitcoin. Bitcoin's next major support is near the 50% retracement fib at $19,568. The price could now fall sharply due to the recent rise from $18,738 to $20,450. The price may drop to the $18,720 level. Thus, in my opinion, the bearish scenario is still more likely, and yesterday's green candle still does not give any confirmation of the immediate rise of the market. If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
by MonoCoinSignal
59
DOA trading Strategy - SPY#SPY - For my long term people! I know a lot of yall are asking me about my personal long term positions. When I did my last long term projection of SPY back in March 2022 I said that SPY will hit $390 before June We hit $383 May 2022 then bounced hard ✅ I've been out of my long term since March 2022 most of you probably remember that I've been shorting the market since end of March 2022 when we caught the 2nd drop from double top back in March. I'm getting ready to enter on my long term if we hold at $360-$365 area From what I'm seeing now, we are currently getting ready for a 3rd impulsive wave, and just finishing the corrective wave. We should hit $360-365 before end of September Then if we hold, I'm going shopping for long term!
AMEX:SPYShort
by directoptionalerts
AKRO/USDTin the previous educational post, I posted about Rising Wedge patterns and in this post, I have explained Falling Wedge Patterns. ( Falling Wedge is the opposite of Rising Wedge pattern; for every chart pattern there are opposite patterns excluding some.) Falling Wedges are Bullish Patterns and it generates a bullish signal, Falling wedge patterns forms with Lower highs and lower lows. The Falling Wedge pattern forms in two shapes same as the Rising Wedge; If the Falling wedge pattern forms in an uptrend it will make a continuation and if the Falling wedge pattern forms in a downtrend it will make a reversal. The Lower highs and the lower lows along make a trend resistance and trend support. When a breakout occurs upside, the price breaks the trend resistance line. In a Falling wedge, a breakout occurs upside 60 to 70% of the time. To confirm a true breakout, we can take the help of Volume and other indicators. A true breakout will have a more significant volume than usual.
ALong
by majidalisabir
8
Terra FalloutArguably the number one saying to always avoid uttering in investing is “This time is different”. Usually, it is related to overly optimistic bullish expectations of future market highs due to global adoption finally taking place. Ironically, as this cycle continues it is proving to be different… In all prior market cycles, bitcoin never rested or went below the previous all-time high during following bear markets. Last weekend, however, we saw bitcoin cascade through the previous all-time high via a savage 6% decline within a 5-minute candle – reaching a low of approximately $17,600. A potential catalyst for the sudden drop was significant outflows from bitcoin funds on Friday 17th June, with the Canadian Purpose Exchange Traded Fund (ETF) experiencing its investors redeem approximately 24,500 bitcoin or 51% of its holdings. The majority of ETF investors are institutions, with the inflows and outflows from these funds giving a good gauge of the institutional sentiment around bitcoin and risk assets in general. The drop was also contributed to by the developing contagion from the Terra debacle. The demise of Terra has continued to claim victims who just a few months ago were renowned as being market leaders in their fields. Most notably this includes Celcius and Three Arrows Capital (3AC). These two previously regarded behemoths have come under heavy fire from the declining market prices. The depressed prices have further impacted their low liquidity and highly leveraged balance sheets. Celsius halted all $8 billion worth of deposits from being withdrawn from their platform and 3AC was allegedly liquidated by FTX, Deribit and Bitmex due to them failing to provide additional capital for their poorly performing leveraged positions. Voyager, a crypto exchange, was also affected by 3AC’s demise with them still being owed 15,250 bitcoin and $350 million by the fund. News of this caused Voyager’s stock to cascade 40% lower on Wednesday accompanied by their token depreciating by 25%. However, as one giant falls another grows. Sam Bankman-Fried (SBF) has become somewhat of a liquidity-providing guardian angel for the crypto industry, with loans of $250 million to BlockFi, a centralised lending platform, and 15,000 bitcoin to Voyager via FTX and Alameda Research. Both of these entities SBF founded. FTX US has also utilised the depreciating market prices as an opportunity to sweeten their product offering through the acquisition of Embed Financial, an equities clearing firm that will provide custody and execution for FTX US’s newly launched feature to trade stocks – showcasing their eagerness to expand into alternative markets outside of crypto. Looking at the technical side, bitcoin appears to have found a range to consolidate within for the meantime, with support on the previous all-time high of approximately $19,800 and resistance around $21,300. Breaking out of the range, and making significant progress, may prove to be a challenge for bulls with the 200-week moving average looming overhead at around $23,300. The question on all traders’ minds is how long will this range hold and if $17,600 will be our local bottom for the foreseeable future? With the Federal Reserve’s Chairman Powell reiterating their hawkish stance and view for the increasing crypto regulation at Wednesday’s Senate Banking Committee hearing, it sounds like the potential relief we have seen over the past week should not be taken for granted. Additionally, further developments in the Terra fallout may be discovered further along the currently illiquid crypto path. This dark cloud will most likely keep all market participants with their tap-dancing shoes on and treading lightly as we further navigate these apocalyptic times.
INDEX:BTCUSD
by Coinrule
future of BTC ( Is it possible to see zero? yes but...) I want to say that bitcoin may be zero, but let's use our previous data to see what is going to happen to bitcoin? We have to admit that we are in a downtrend that I think has come a long way but has not yet reached the end of the road and given the price history we can expect it to bother the holders again and it is normal when the BTC pair is The US dollar. In smaller timeframes, especially weekly with the loss of the moving average of 200, I, like many of you, am worried about the future of bitcoin, so I came to higher timeframes to see history in a bigger sight and the important prices (price ranges) that We have to be better able to monitor it. I do not give an opinion against the downward trend and I do not have a recommendation to buy yet, but within the limits specified in the chart, you can make your purchase with your own analysis, or if you have bitcoins, consider capital management in those areas. This cycle check is used only for estimation and has no signal for buying and selling. By starting to receive the signal in lower timeframes, you can decide to buy or sell in the specified ranges.
INDEX:BTCUSD
by parsajl1
6