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🤖 #BTCLIVE - 12.08 - #IDEA 🤖🤖 #BTCLIVE - 12.08 - #IDEA 🤖 Snapshot: Short-Term 30:70- Bullish:Bearish Long-Term 50:50 - Bullish:Bearish Technical Analysis: Bullish Scenario: There isn't too much to suggest a much bullish sentiment. The best to hope for is a bounce at $23.5k off the lower ascending wedge trendline and pump back to the upper trendline at $25k region as quickly as possible to avoid a full break down. Up on dropping through key resistance a realistic bullish play back up is an inverse head and shoulders - this could play out over quite a long period. The best case scenario is to pump hard to try and break $25k although going into the weekend that is unlikely. Bearish Scenario: Currently playing out the final part of a head and shoulders with a $22.7k as the lower limit of it (not to say it can't go past that) - there are a few key support on the way although going into weekend not expecting them to hold - my realistic target is $22.7k with a mid-term max pain of $20k. Possibly driven by the highest inflation numbers in 35+ years in European countries. Bullish Factors: + 20, 50 DEMA in close proximity for support + Approaching Key Support + Exchange Netflow Total turned positive + aSOPR turned positive Bearish Factors: - SEC is still on a rampage - Weekend Volatility - Broke HMA, 20EMA, 50EMA - Flipped local support - Forming Head & Shoulders Pattern - 15min: Pullback & Exhaustion Signal - 1 Day: Rising Wedge in Downtrend - Lower Highs - Transfer Volume turned negative - Active Addresses turned negative - Taker Buy Sell Ratio turned negative Key News: Bull: + ETH Merge causing bullish sentiment market wide + "We are fully ready to regulate cryptocurrencies, says CFTC Chairman" t.co + Strike has partnered with Visa to launch a new card Bear: - SEC going after hedge funds for crypto - Trend forecaster G. Celente slams new CPI data, says ‘game is rigged’ (cryptopanic.com) - Indian authorities freeze #crypto exchange Vauld assets worth $46.5 million. - France inflation reaches 6.1%, the highest it’s seen in 37 years. - Spain inflation reaches 10.8%, the highest it’s seen in 38 years. Metrics: Exchange - Exchange Reserve - As the exchange reserve continues to rise, it indicates higher selling pressure. + Exchange Netflow Total - Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure. Miners / Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average. / Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average. On-Chain + aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom. + Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins + Net Unrealized Profit and Loss (NUPL) -Investors are in a Fear phase where they are currently with unrealized profits that are slightly more than losses. - Transfer Volume - The total number of coins transferred has decreased by -47.00% compared to yesterday. - Active Addresses - The total number of active wallets used to send and receive coins has decreased by -13 .00% compared to yesterday. + Transactions - The total number of transactions has increased by 4.00% compared to yesterday. Sentiment + Coinbase Premium - US investors' buying pressure is relatively strong in Coinbase. - Korea Premium -Korean retail investors' buying pressure is relatively strong. - Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment. Derivatives + Funding Rate - Long position traders are dominant and are willing to pay to short traders. + Taker Buy Sell Ratio - Selling sentiment is dominent in the derivatives market. More sell orders are filled by takers. / Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend. + Liquidation - 19644187061861.87 of short positions were liquidated in the last 24 hours.
by Kryptochristian
HUT 8 Canadian Bitcoin Miner Winning During Hot Summer (Double?)Hut 8 is one of the older and experienced BTC miners that is run by some wonderful ladies in Canada where it is cold and they are using low cost energy. Texas miners are shutting down to provide electricity back to the grid. European Miners have much higher energy cost and are also unplugging. When so many machines that mine Bitcoin go off the network the ones that are left get paid much more. It is estimated that Hut 8 is earning an extra 10 to 15% Bitcoin because of other miners turning off machines. Hut is also continuing to buy equipment at low costs and are growing BTC mined per month. Hut has burned through the Ichimoku Cloud and just retested support Friday. If the QQQ continues to squeeze those that don't believe that the Nasdaq leads 4 months before the low of the market, HUT 8 can surge like MARA and SDIG did. If you watch Krowns Crypto Cave analysis on BTC each morning then you know that BTC is setting up for a run up to 25k to 28k by the end of this month. Wild Card Prediction - Elon Musk did sell BTC in Tesla to make payroll for those big cash furnaces in China, Berlin and Austin. He went out of his way to say he didn't have anything against Bitcoin but you know his CFO was explaining he didn't want to show a $500M asset devalue, so they sold at their cost. The other sale of BTC was for a $200M gain. Elon is sitting on a lot of cash for his Tweet excursion that likely will expire. Where will that cash go? Dogecoin, maybe, but more likely BTC. MARA and SDIG both saw crazy moves up. So if you're looking for the next Bitcoin miner to get crazy options activity it is likely Hut 8, but maybe it will only be the poorly run BTC miners. Paul Barron Network did a nice interview of Hut 8 last month on youtube if you want to learn more about them. Bitcoin currently trades in great linkage to the QQQ but that is only likely to continue for a little longer as asset managers uncouple their trading algorithms for BTC.
NASDAQ:HUTLong
by GT350
3
Newmont Corp. stock analysis: Has NEM bottomed out?Newmont ( NEM ) stock prices have been falling precipitously, halving in value from highs of $86 in mid-April, due to lower gold prices and rising input costs weighing on the company's earnings. On July 25, following the release of the disappointing second-quarter results, with EPS down to 0.46 (-30% lower than expected), the world's largest gold miner fell to a year-to-date low of $44. Since then, however, NEM appears to have formed a very solid support at $44, which has not been broken downwards, indicating that the sellers’ strength may have faded. NEM could have bottomed out here, but it has yet to gain traction, as prices have consolidated in a tight range between $44 and $47 over the past two weeks. The RSI is still in oversold territory (26) but is rising slightly. Instead, the MACD provides a bullish crossover signal as the MACD line crossed from below to above the signal line. If we are on the verge of a new bull trend, the first hurdle to overcome is undoubtedly the psychological level of $50, which served as support prior to July 25th. A breach of this level would also lead to a breakout of the 2022 bearish trendline and encourage a test of $54.04 (the 23.6% Fibonacci retracement level from April 2022 high to July 2022 low). Alternatively, if there is a fresh round of pessimism, the market may retest the $41-41.7 level that served as support in March and April of 2020. Analysis written by Piero Cingari, forex and commodity analyst at Capital.com
NYSE:NEM
by Capitalcom
First Majestic: Should I Stay Or Should I Go?“Darling, you’ve got to let me know – should I stay or should I go?” This song by The Clash seems to be sounding in the background while First Majestic is thinking. As it has already reached the ideal target point for wave 2 in turquoise, the share price could directly go upwards now, rising above the resistance at $19.41. Likewise, it could stay to finish wave 2 in turquoise a bit deeper in the turquoise zone between $12.36 and $6.89. However, there is also a 45% chance that First Majestic could drop below the support line at $5.30, thus activating further descent.
TSX:AG
by MarketIntel
1
FIRST MAJESTIC SILVER - PRESSURE BUILDINGThis is a weekly chart of AG, First Majestic Silver Corp. I like to call this pattern a giant compression wedge - it's just a simple descending triangle. But considering this is on the weekly timeframe, it's a mammoth-sized wedge. I like the pattern but I really like the company. I'll try to focus on the technical analysis, but First Majestic looks incredibly well positioned for what's unfolding in the metals market. They have their ducks in a row. If you follow my ideas, then you'll know how I feel about precious metals. I believe we're facing a perfect storm that will propel precious metals & miners to incredible levels. The monetary circus, supply & demand, inflation, gold:silver ratio, and the commodity cycle are just a few of the ingredients in the recipe. I'm torn about direction. Equities, the dollar, precious metals, and the miners are in a pivotal place. The dollar looks like it's trying to find a bottom. It's possible that the metals, miners, and equities get pushed down hard again.. potentially another crash. Having another crash in equities, metals, miners, etc.. would be my preferred path because I suspect that it wouldn't last long.. Inflation is coming but don't rule out another deflationary hiccup. I like to buy stuff cheap and so I'll be thrilled to have another discount. Watch the dollar. I think we're going to know soon.. and watch First Majestic. It would be incredible to have it tag (E) of this wedge. The measured move of this pattern is somewhere around 39-40 but a move from $4.00 to 40 is a 10x compared to the 2x it is from current prices.
NYSE:AG
by gghsusa
9
GDX weakness and bullish failurePrevious analysis appeared bullish, but the price movements in the last two weeks since failed. The weekly chart instead of following through with the bullish indications, reversed into a weekly gap down and further down for the next week. Weekly technicals are weak and suggest some bearishness. A clear failure for the GDX ETF to break above the weekly 55EMA. The daily chart shows how the weekly gap down developed, starting with a gap down that broke down of the gap range. This range was tested and failed for more downside in the following week. finding support at 29. The technical indicators are bearish indicative, and downside target is currently 27.60. Bearish breakdown in the works!
AMEX:GDXShort
by Auguraltrader
#BTCDAILY - 26/6/22#BTCDAILY 26/6 Overall looking 60:40, bullish:bearish. We have to break $22k if we want to see $28k come in and CME gap filled. We are at the mercy of institutions unloading stockpiles to secure margins (or any other crazy sell off's in this space), any further negative announcements from FED and Miners being forced to unload BTC due to loan repayments being enforced. We DO want to see exchanges coming in to pad out their BTC holdings more, positive rumours of the spot ETF and also Ripple case for that matter and increased whale accumulation. If we get bad news and break the trendline downwards then it will get very rough, I have moved down my low target from $17.5k to $16.1k before re-assessing. Keep it sensible, keep it in spot and don't make any big moves till after US market open tomorrow.
INDEX:BTCUSD
by Kryptochristian
Parabolic Setup on the Mining JuniorsThis is a very asymmetric trade setup with nearly blue skies to 100 if it can catch some momentum in the coming sessions. We also have a nice little fractal that shows us the path upward, should we break 49. I would not front-run this one and would wait for 50+ daily close before a serious entry. With this level of confirmation in pocket, I'll be taking a rather aggressive stance. Its a clear magnet-move to 100 - if for no other reason than it being one of the only decent plays available. =PigMagnet AMEX:GDXJ TVC:GOLD TVC:SILVER MCX:GOLD1! MCX:SILVER1! ASX:GOLD AMEX:GDX NYSE:GOLD
AMEX:GDXJLong
by UnknownUnicorn5511258
23
Pan American Silver: Aquanaut 🤿So far, Pan American Silver has only been snorkeling along the surface of the blue pool between $21.88 and $13.94. However, we expect it to put on its diver’s gear and to plunge deeper into the water to finish wave (ii) in blue. Afterwards, Pan American Silver should emerge from the depths and rise above the resistance at $40.11. There remains a 38% chance, though, that Pan American Silver could lose its compass in the blue zone and dive deeper and deeper, even below the support at $10.61. Once there, it should tumble further below the next support at $5.38 as well.
P
by MarketIntel
1
Vox Royalty to C$4.50Vox Royalty (TSX-V:VOX) Corp has told investors it expects to report royalty revenues of between C$10 million and C$12 million in 2022—more than double what it realized in 2021—as it also revealed it has acquired a producing royalty on a Western Australian iron ore mine. The royalty, purchased from a private vendor, is a 1.25%-1.50% sliding scale gross revenue royalty (GRR) on the Wonmunna mine operated by major Mineral Resources Ltd (ASX:MIN). Vox is paying US$4.75 million in cash, US$12.15 million in Vox shares, and issuing 3.6 million share purchase warrants with an exercise price of C$4.50. "The Wonmunna royalty acquisition further expands the revenue and growth profile of Vox and is accretive on all key metrics," said Kyle Floyd, CEO of Vox in a statement. "The opportunity to add significant, immediate, incremental revenue through a non-brokered accretive transaction with a private seller generates significant value for Vox shareholders for years to come. ©Proactive Investors The line that I find most interesting is 'warrants with an exercise price of C$4.50', as the current price action is hovering above C$3.00. For the vendor of the Royalty to find this deal acceptable they must have looked at Vox Royalty Corp and seen what others clearly can not see. And that is a 50% increase in value at the minimum. Warrants and Call Options Similarities The basic attributes of a warrant and call are the same: • Strike price or exercise price – The guaranteed price at which the warrant or option buyer has the right to buy the underlying asset from the seller (technically, the writer of the call). “Exercise price” is the preferred term with reference to warrants. • Maturity or expiration date – The finite time period during which the warrant or option can be exercised. • Option price or premium – The price at which the warrant or option trades in the market. ©Investopedia For a strike price of C$4.50 to work, the share price needs to be above C$4.50 or otherwise the warrants have little to no value.
V
by TH_Analysis
$GDXJ to fall from here? $35 first, $20s next?GDXJ looks to be rejecting at resistance here which could setup a large move lower. I know everyone wants to be bullish gold, but both commodities and equities are starting to look weak here. I think we're about to see a false breakout of the falling wedge and a break back below it down to $35 as the first target, and potentially the $20 range after that. Green lines mark support levels. Let's see what happens over the coming weeks/months.
AMEX:GDXJShort
by benjihyam
16