BITCOIN, next move into classic Wycoff or will the bubble burst?The Market Monkey Team takes a look at BITCOIN for December 6-7 2024.
The strong bullish breakout for #BITCOIN breaking through the $100 000 suggests some more bullishness in the short term, but likely to go into longer term distribution and selling in 2025.
Watch video to view our analysis of #BITCOIN
Cheers
MM Team
- Money see, money do
Moving Averages
The Road Map to 50K ETHI believe Ethereum will be the tokenization network of the future and the road map to 50K by 2026 is intact.
Ethereum's development roadmap presents a bullish outlook, emphasizing scalability, sustainability, and security. The shift to Proof-of-Stake (The Merge) reduces energy consumption by 99%, appealing to eco-conscious stakeholders. Upcoming milestones like Danksharding and rollup-centric scaling aim to massively increase transaction throughput while lowering costs, ensuring user adoption. Enhanced security with features like withdrawal credentials and MEV resistance fortify the network. Ethereum's continuous evolution, developer engagement, and dominance as the foundation for DeFi, NFTs, and Web3 applications position it as a cornerstone of the blockchain future. ethereum.org
I still believe Ethereum could surpass bitcoin market cap in the next 10-20 years due to real yield, network volume, and deflationary supply projections. The future is still bright and it's very early.
Laggard RBNUSD 150% move likely in rotation to ETH ecosystemAs ETHBTC is close to confirming a bottom by closing above 0.041 on the Weekly, and with ETH pushing north of EUROTLX:4K , we're seeing some laggards beginning to gain momentum with outsized upside potential. The ETH ecosystem has opportunity. #ribbonfinance #RBNUSD could push 2x gains over the next few weeks as the RSI is 60 and rising, with the 10WMA sloping up and recently crossing the 20WMA. Use the Fibonacci extension levels as take profit guides, trimming on the way up to a higher consolidation level. Don't sell too early. Wait for RSI to move into overbought territory and flatten out before trimming the majority of your position.
WLD | Identity SpaceWorldcoin, a token by ChatGPT founder Sam Altman, is looking good here. The MA-50 is about to cross the MA-200 upwards, a golden cross and bullish sign. The optimal entry would have been in the green box, but if you are not too price sensitive, an entry now could also make sense.
XEM Possible Comeback & Takeover!#NEM is one of the classic "dinosaur" cryptocurrencies. I previously analyzed it and expected further decline, but my analysis was incorrect.
As long as it stays above $0.0147, I believe it has the potential to keep rising. Passing $0.0625 would possibly target a new ATH.
#XEM
Exploring the Factors Driving Cardano's Bullish TrajectoryCardano (ADA), a blockchain platform known for its robust security and energy efficiency, has been steadily gaining traction in the cryptocurrency market. Analysts are increasingly bullish on ADA's future price movements, with some predicting that the token could reach as high as $9+ in the coming months. This optimistic outlook is fueled by a combination of strong fundamentals, positive market sentiment, and historical price patterns.
Strong Fundamentals Powering ADA's Rise
Cardano's underlying technology, Ouroboros, is a proof-of-stake (PoS) consensus mechanism that offers several advantages over traditional proof-of-work (PoW) systems, including lower energy consumption and improved scalability. Additionally, Cardano's layered architecture enables the platform to handle complex smart contracts and decentralized applications (dApps).
The Cardano community is actively developing a diverse range of projects, including decentralized finance (DeFi) protocols, non-fungible token (NFT) marketplaces, and supply chain solutions. As the ecosystem continues to grow and mature, the demand for ADA is likely to increase.
Positive Market Sentiment Boosts ADA's Prospects
The broader cryptocurrency market is currently experiencing a bullish phase, with Bitcoin and Ethereum leading the charge. This positive market sentiment has spilled over into altcoins like Cardano, driving increased investor interest and capital inflows.
Moreover, the recent surge in interest in blockchain technology and decentralized applications has further fueled the bullish sentiment surrounding ADA. As more and more people become aware of the potential benefits of blockchain, the demand for ADA is likely to rise.
Technical Analysis: A Bullish Outlook
A technical analysis of ADA's price chart suggests that the token may be on the cusp of a significant breakout. Historical price patterns indicate that ADA tends to form support and resistance levels. By breaking through these levels, ADA can enter a new uptrend and potentially reach higher price targets.
Key technical indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), are also signaling bullish momentum. The RSI, which measures the speed and change of price movements, is currently in the overbought territory, suggesting strong buying pressure. The MACD, which compares two moving averages, is also trending upwards, indicating a bullish crossover.
Potential Challenges and Risks
While the outlook for ADA is positive, it's important to acknowledge potential challenges and risks. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Regulatory uncertainty, economic downturns, and negative market sentiment can all impact ADA's price.
Additionally, Cardano's network performance and scalability will be crucial factors in determining its future success. As the number of users and transactions on the network increases, it will be essential for Cardano to maintain its performance and avoid congestion.
Conclusion
Cardano's strong fundamentals, positive market sentiment, and bullish technical indicators suggest that the token has the potential to reach new heights. However, investors should approach ADA with a long-term perspective and be prepared for short-term volatility. By carefully considering the risks and rewards, investors can make informed decisions about their ADA investments.
Tron (TRX) Climbs to New Highs - What's Behind the Recent Rally?Exploring the Surge: Tron (TRX) Climbs to New Highs - What's Behind the Recent Rally?
Tron (TRX) Soars to New Heights: A Deep Dive into the Recent Rally
Tron (TRX), a decentralized platform that aims to build a worldwide free content entertainment system with the blockchain and distributed storage technology, has recently experienced a significant surge in price. This rally has caught the attention of seasoned investors and cryptocurrency market newcomers.
The 100% Rally and Beyond
In a remarkable display of bullish momentum, Tron's price surged over 100% within a 24-hour period, propelling it to a new all-time high (ATH). This extraordinary growth ignited a wave of excitement and optimism among crypto enthusiasts. The question on everyone's lips: Could Tron be poised to reach the $0.5 mark?
Technical Analysis: A Bullish Outlook
To gain a deeper understanding of Tron's recent price action, let's delve into a technical analysis of its one-hour chart.
• Reclaiming the 20 MA: One of the key indicators of renewed buyer interest is the ability of a cryptocurrency to reclaim its 20-day Moving Average (MA). When Tron successfully recaptured this crucial support level, it signaled a potential shift in market sentiment from bearish to bullish.
• Bullish Momentum: The upward trajectory of Tron's price, coupled with increasing trading volume, suggests strong underlying bullish momentum. This momentum can often drive prices higher, especially when supported by positive market sentiment and fundamental factors.
• Potential Resistance Levels: While Tron's recent rally has been impressive, it may encounter resistance at certain price levels. Identifying these potential resistance zones can help investors gauge the extent of the upcoming price movement.
Fundamental Factors Driving Tron's Rally
In addition to technical indicators, several fundamental factors have contributed to Tron's recent surge:
• Growing Ecosystem: Tron's ecosystem has been expanding rapidly, attracting a diverse range of projects and applications. This increased adoption and utility have positively impacted the demand for TRX tokens.
• Strategic Partnerships: Tron has forged strategic partnerships with various organizations, including BitTorrent, a popular file-sharing platform. These collaborations have strengthened Tron's position in the blockchain industry and boosted its visibility.
• Positive Market Sentiment: The overall bullish sentiment in the cryptocurrency market has also played a role in Tron's price appreciation. As investors become more optimistic about the future of digital assets, they are allocating more capital to promising projects like Tron.
The Road Ahead for Tron
While Tron's recent performance has been undeniably impressive, it's important to approach any investment with caution and conduct thorough research. The cryptocurrency market is highly volatile, and prices can fluctuate rapidly.
As investors look ahead, they should monitor key factors such as:
• Market Sentiment: The overall sentiment in the cryptocurrency market can significantly impact Tron's price.
• Regulatory Developments: Changes in regulations can have a profound effect on the cryptocurrency industry, including Tron.
• Technological Advancements: Continued innovation and advancements in blockchain technology can drive Tron's growth and adoption.
In conclusion, Tron's recent 100% rally and reclamation of the 20 MA on the one-hour chart have ignited a wave of optimism among investors. However, it's crucial to approach this bullish momentum with a balanced perspective and consider the potential rewards and risks of investing in cryptocurrencies. Investors can make informed decisions about their Tron investments by staying informed and conducting thorough research.
BTCUSD WalkthroughThe focus for this idea will be the weekly timeframe with monthly overlayed and the daily timeframe with the weekly overlayed. The monthly chart will be used as a higher timeframe reference.
In Calendar week 48 BTCUSD had a close below the weekly Envelope Top (99414.61). This was a first indication that the weekly was in the middle of retracement.
When the weekly close indicates retracement, the process implies a weekly PLdot refresh. In order for a weekly PLdot refresh to happen, the daily timeframe has to put in a daily top and “roll over”. The daily top is in when the daily close is below the daily live Envelope top.
Important to know : Refresh areas are a combination of live and static values. Live values are the values that are for the upcoming bar (for every time frame, e.g. live day values are the tomorrow values) whereas static values are todays values (e.g. todays PLdot Envelope Top, etc.)
The daily timeframe put in the top on Sunday and started the process of “roll over”. The daily timeframe has nothing else to do but play out the weekly timeframe move. In this case the weekly is going for a PLdot refresh to the weekly PLdot refresh area (live PLdot and static PLdot area). How does this happen? The daily will close inside its Envelope, the daily has to start a c-wave so that the weekly can reach the static weekly PLdot area.
Looking above one can notice that the weekly slope and direction are up. Additionally, the weekly PLdot refresh area contains also the Higher Time Period - monthly envelope top live.
Once price came to the weekly pld refresh area, this was the area to go long. The weekly pld refresh was made by the daily c-waves exhausting on the daily level, aborting the c-wave down, closing inside the daily envelope, not being able to break the envelope bottom yesterday. S/L is below the daily EBOT with the target being the daily PLD first, daily ETOP next, daily exhaust area final. As long as the weekly PLD is pushing up (supported by the monthly direction and monthly c-wave) in a multiple time frame situation, price will go to the monthly area 5 and exhaust.
Important to know : C-waves can break terminations.
What is next? After a big move up, PLDs have to "catch up". Thusrday saw a move to the 6-5, that usually appear at the beginning of a new trend after congestion. Daily c-wave up ongoing. As long as weekly PLdot is pushing, price will go to weekly Envelope Top (static then live) as the bottom of monthly area 6 is up, price will go higher, confirming it through c-waves n daily and weekly timeframes, thus breaking the weekly Envelope Top and going towards the next weekly target which is the bottom of its exhaust zone. NO scenario would see the closure within the daily envelope after which the daily would roll over to go to its logical target which is the daily PLdot refresh area.
S&P 500 Targets: Continuation of Record-Breaking Gains Amid MacrTechnical Analysis
The S&P 500 cash index, depicted on its daily chart, has extended its record-breaking trajectory by decisively breaching the prior resistance level of 6,031.24. This movement has prolonged the established bullish trend, guiding prices towards a critical resistance level at 6,110.21, corresponding with the 141.40% Fibonacci extension. A continuation of this bullish momentum could see buyers break through this resistance, subsequently targeting higher levels at 6,149.12 and eventually 6,221.99.
Conversely, should sellers regain momentum, initially targeting the key support level at 5,840.49, a confirmed breakdown below this support would signal a potential shift in sentiment.
Key Events to Watch
The weekly jobless claims and U.S. trade balance reports are expected to provide further insights into the resilience of the economy. In addition, all eyes are on the non-farm payrolls report due on Friday, which will be instrumental in assessing the extent to which robust corporate growth has translated into labor market strength.
Healthy growth on EthereumEthereum is in an uptrend according to the Exponential Moving Averages (EMAs), but more importantly, the current price ($3700) is about EMA 20. Buying Ethereum at an average price has a positive risk-reward ratio. In a bearish scenario, ETH could bounce from EMA 200 ($3350) at the latest and still maintain a bullish trend. Anything below EMA 200 would have a bearish indication. If the current bullish trend persists, Ethereum eyes the $4000 psychological resistance.
EG INDUSTRIES - POTENTIAL BULLISH CONTINUATION PATTERN ?EG INDUSTRIES - CURRENT PRICE : RM2.03
In long term the stock is UPTREND as the share price is above 200-day EMA. For short and medium term, the stock is trading in sideways. However, based on chart pattern analysis, the stock is potential of making BULLISH ASCENDING TRIANGLE - Bullish Continuation Pattern .
Based on ICHIMOKU CLOUD, the share price is trading above CLOUD indicates a little bit bullish scenario. CHIKOU SPAN is in CLOUD and pending to breakout above cloud. If CHIKOU SPAN manage to break above CLOUD, it will add more bullish outlook for the stock and technically it is a buy signal.
At current moment, if the stock made a high above RM2.05, then technically it is a buy signal for me based on CHART PATTERN (Completion of ASCENDING TRIANGLE) and ICHIMOKU CLOUD (CHIKOU SPAN breakout CLOUD).
ENTRY PRICE : RM2.06 - RM2.10
TARGET PRICE : RM2.22 and RM2.37
SUPPORT : 50-day EMA
Coherus BioSciences | Chart & Forecast SummaryKey Indicators On Trade Set Up In General
1. Push Set Up
2. Range Set up
3. Break & Retest Set Up
Notes On Session
# Coherus BioSciences
- Double Formation
* Support=0 | EMA 20 | Area DIsclosure | Subdivision 1
* Neckline | Pattern Alignment At 2.40
- Triple Formation
* Entry Bias Hypothesis | Entry Area | Subdivision 2
* Retracement | 0.5. 0.236 & 0
* Angle 1 | 3,4,5 Wave Template | Subdivision 3
Active Sessions On Relevant Range & Elemented Probabilities;
London(Upwards) - NYC(Downwards)
Conclusion | Trade Plan Execution & Risk Management On Demand;
Overall Consensus | Neutral
PayPal | PYPL | Long at $64.00From a technical analysis perspective, PayPal NASDAQ:PYPL is in the early stages of a potential downward trend reversal/stabilization based on my selected simple moving averages. With a current P/E of 15x, recent earnings beat, low debt, and earnings growth potential/estimates, PayPal is in a personal buy zone at $64.00.
Target #1 = $72.00
Target #2 = $85.00
Target #3 = $93.00
Target #4 = $117.00
Nvidia: Next Leg Coming?Nvidia has been mostly quiet since the summer, but some traders may think another move to the upside is coming.
The first pattern on today’s chart is the August high of $131.26. NVDA broke above this level in the first of October and then pulled back to test it in three different weeks. Has old resistance become new support?
Second, the 50-day simple moving average (SMA) recently converged with the 100-day SMA and is now pulling away. That may suggest its longer-term trend is getting bullish after a period of neutrality. (The activity also resembles patterns in late 2023 and early 2024 before the chip giant doubled.)
Third, stochastics are rebounding from an oversold condition.
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#ETHWUSDT #1W (ByBit) Descending channel breakoutEthereum PoW regained 50MA weekly support and seems to be in full bullish mode, continuation is on.
⚡️⚡️ #ETHW/USDT ⚡️⚡️
Exchanges: ByBit USDT, Binance Futures, OKX Futures
Signal Type: Regular (Long)
Leverage: Isolated (1.0X)
Amount: 5.0%
Current Price:
3.665
Entry Zone:
3.524 - 2.904
Take-Profit Targets:
1) 5.119
1) 7.030
1) 8.941
Stop Targets:
1) 1.940
Published By: @Zblaba
AMEX:ETHW BYBIT:ETHWUSDT.P #1W #Ethereum #PoW ethereumpow.org
Risk/Reward= 1:1.5 | 1:3.0 | 1:4.5
Expected Profit= +59.3% | +118.7% | +178.2%
Possible Loss= -39.6%
Estimated Gaintime= 3-6 months
Paramount Global | PARA | Long at $11.00 (Jan '26 Call Options)Paramount Global NASDAQ:PARA may be gearing up for a price move to reach my historical simple moving average (white and green lines). It appears to be consolidating in the $9-$11 range, but the company is on shaky grounds. Currently, their debt is not well covered by operating cash flow, the dividend of 1.82% is not well covered by earnings, and there has been some insider selling lately. But earnings and cashflow are expected to grow in the future. So, it's a tossup in terms of fundamentals if the future actually plays out. Thus, while I have no desire to hold shares given the risks, the chart is enticing. January 2026 call options (strike of $12.50) are $0.90 each and that may be enough time for this to either move up or implode. The personal risk is small, but the reward could be generous.
Target #1 - $12.50 (January 16, 2026 call options, priced at $0.90 each)
CFX is readyAfter an 80% correction from $0.55 this year, CFX seems to have found its lowest price of the year at $0.125. With Bitcoin's positive price movement, CFX looks to provide positive price movement. The signs are that the price action crossed the 21 SMA (weekly chart), and the RSI reversed and crossed the 50 boundaries.
CFX's target is to make a higher high after $0.55. But before that, CFX must be able to cross the $0.23 price because there is a potential supply in that area.