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ETH Daily TA Cautiously BullishETHUSD Daily cautiously bullish. Recommended ratio: 85% ETH, 15% Cash. *Cryptos, Equities, Commodities (aside from Oil) and Futures are all up; while DXY, Oil (due to recent increases in global output capacity) and Treasuries are all down. There's been a clear shift in market sentiment after the Fed raised another 75bps and Powell gave a couple of hardly dovish hints in conjunction with a full-court press by the White House in shutting down fears of a recession. SEC Chair Gary Gensler said today that the SEC is ramping up moves to get crypto exchanges registered with the SEC . Ethereum devs yesterday confirmed that the Merge is on schedule and is expected to launch on Goerli, the final testnet before launch on Mainnet, on ~August 11th; the estimated date for launch on Mainnet is 09/11/22 . AMZN and AAPL both beat on top and bottom lines today (earnings and revenue) sending their shares higher after-hours; this earnings beat can largely be credited to inflation pushing up prices. Overall, things are bullish in the short-term unless economic data tomorrow surprises significantly. Economic data tomorrow: Employment Cost Index (ECI) (a number Fed Chair JPow said to look out for in yesterday's FOMC press conference) reports tomorrow (07/29) at 830am EST; PCE numbers (the Fed's preferred gauge of inflation in Personal Income and Outlays report) report tomorrow at 830am EST; University of Michigan Consumer Sentiment Survey (which gives a more detailed look into personal finances) reports tomorrow (07/29) at 10am EST. Things to note about the aforementioned economic data: ECI is reported quarterly so this number is expected to be down from where it was three months ago, this may be viewed as bearish in the short term because it would signal that the job market is beginning to slow down which would renew fears of a recession; PCE numbers also lag by about 3 weeks but are still central to the Fed's assessment of the inflation situation, so if the Index is higher/lower this would be bearish/bullish; as for Consumer Sentiment it will likely reflect some kind of relief from OPEC and the USA raising oil output caps but will overall show that the consumer is still becoming defensive toward inflation.* Price is currently breaking above $1711 minor resistance and will attempt to close above it in today and tomorrow's sessions on its way to retesting $1941 resistance for the first time since 06/06/22. Volume is Moderate (high) and currently on track to favor buyers for three consecutive sessions, this is bullish considering the Morning Doji Star pattern that Price completed by printing a Bullish Engulfing candle in yesterday's session. Parabolic SAR flips bearish at $1358, this margin is neutral at the moment. RSI is currently trending up at 69 as it aims to formally retest the 50/50 uptrend line from November 2018 at 71; if it breaks through that then the next resistance is at 77. Stochastic crossed over bullish at 67 in today's session and is currently trending up at 75, the next resistance is at 81. MACD remains bullish and is currently trending up at 103 as it aims to retest the upper trendline of the descending channel from August 2021 at 140; due to the proximity of 155 resistance it may retest that level as well. ADX is currently completing a soft trough and is beginning to trend up slightly at 30 as Price is pushing higher, this is bullish. If Price is able to rip through $1711 minor resistance , the next likely target is a retest of $1941 resistance . However, if Price is rejected at $1711 minor resistance then it will likely find a bit of support at ~$1550 before potentially retesting $1427 support . Mental Stop Loss: (two consecutive closes below) $1641.
COINBASE:ETHUSD
by dailytaguy
ETH Daily TA Neutral BearishETHUSD Daily neutral with a bearish bias. Recommended ratio: 48% ETH, 52% Cash. *SUPER SHORT-TERM BEARISH. Cryptos are currently seeing the Sunday/Monday scaries and it could translate into an overall bearish week if economic data (FFR hike, Consumer Confidence, GDP, and PCE) surprises higher and/or earnings from Alphabet, Amazon, Apple, Meta and Microsoft surprise lower. However, DXY is trending down as well and if it sustains more downward pressure it could help alleviate the aforementioned potentially bearish situation. Regardless of short term noise, the current estimated Merge date is 09/12/2022 and provides a bullish backdrop to Price action over the next month or so.* Price is currently trending down as it approaches its first test of $1427 support. Volume remains Moderate (low) and is currently on track to break a two session streak of buyer dominance if it can close today's session in the red. Parabolic SAR flips bearish at $1336, this margin is mildly bearish. RSI is currently trending down at 59 as it approaches a test of a triple support: the uptrend line from 06/18/22, the descending trendline from February 2020 and 55 support; this area should provide a lot of support. Stochastic remains bearish and is currently trending down at 88 as it approaches a test of 81 support. MACD is currently forming a soft peak as it trends sideways at 86, the next resistance is the upper trendline of the descending channel from August 2021 at ~156 resistance; it's also still technically testing 28 support. ADX is beginning to trend down at 30 as Price sees selling pressure, this is mildly bullish at the moment because it indicates that there is a momentum shift. If Price is able to bounce here then it will likely face a bit of resistance at ~$1600 before potentially testing $1711 resistance for the first time since breaking below it on 06/10/22. However, if Price continues to break down here, it will likely test $1427 support for the first time since breaking above it on 07/18/22. Mental Stop Loss: (one close above) $1611.
COINBASE:ETHUSD
by dailytaguy
$UMGP 3.5 Mil Float/Rashad Evans/3-4 PRs/Mergers/AcquisitionsUniversal Media Group Inc. has been on the ball lately tweeting about multiple updates on the horizon that the company is excited about. June 6th: We are actively involved in M&A discussions with multiple well known private media entities with significant IP/Revenues in addition to outstanding management teams that would seamlessly integrate within our operation. We will announce developments soon. These negotiations have slowed down some corporate actions all to be resolved soon. We do have multiple company announcements regarding new deals and shows that will be released this week and next. Thank you to our investors for your interest in $UMGP umediagroupinc.com The company recently teamed up with celebrity UFC fighter Rashad Evans on his NFT project which has multiple utilities including mental health. The stock recently went to a high of $3.67 with a float that has remained relatively unchanged since then and with multiple more announcements to be made this could very well see past that to $5+
OTC:UMGPLong
by StockGuild
1
Buying Opportunity: Cloudflare (NET)Chart analysis is showing that Cloudflare (NET) is trying to form a bottom at an important Fibonacci level. Currently, there is momentum to the downside on the daily chart and a gap to be closed at 46.38. It's therefore likely that with the downward momentum, NET will attempt to close this gap and then quickly rebound up to 59 as it will also try to maintain price at or above this level for the monthly close. The weekly charts are already showing bullish signs and the asset's underperformance relative to the S&P 500 has already slowed down, which virtually always occurs right before a reversal. The Wave Trend Oscillator by @LazyBear shows that momentum to the downside on the highest timeframes is already bottomed and will soon start to revert back to the upside. On the daily chart, Heikin Ashi candles and Fibonacci Bollinger Bands also show signs of a bottoming pattern forming. The daily RSI has been showing bullish divergence since May. Therefore entering NET at prices around the gap closure at 46.38 could be a great risk-reward entry for long-term investors. Although anything is possible, it's statistically unlikely that NET will make a full retracement and fall much lower than the gap closure. In the years to come, Cloudflare will likely go to the moon. Not financial advice.
NYSE:NETLong
by SpyMasterTrades
WAVES Makes Waves. Crypto's "Decoupling" ContinuesAfter Friday's "decoupling" event, the markets have mostly stayed flat (it feels like there's a lot of confusion and uncertainty in the market as a whole right now) with a few exceptions - WAVES seems to be the big winner today, followed by AXS (Axie Infinity) and ADA (Cardano). XTZ (Tezos) had a very good week this week but at least for today, it seems to be in the red. With altcoins normally moving in parallel to each other, these trends are interesting to look at because it seems like after Friday each coin seems to have suddenly gained independence as we start to see less and less parallel motion over time. Time will tell if this "decoupling" trend continues - but so far, it seems to be the case. By the way, if you invested in LUNA right at its rock-bottom a few days ago you would have made a 5.9 MILLION % return today. High risk, high reward. 😂 I don't recommend putting your life savings into bets like these but there is something to the idea of supporting a project during its struggles since that's often how investors make their biggest returns.
WLong
by RyanTanaka
3
IMX the corporate future of NFT's?Fundamentals: + NFT derivative exposure + Disney, Marvel and the ESL building on Immutable X. + Coinbase portfolio. + Ready to use API + Games such as Guild of Guardians and Illuvium currently partnered. - NFT and Gaming are novel markets within the crypto sphere. Still somewhat unrelated in a market populated by investors and not gamers or actual users. - Current Risk-Off environment unlikely to reward Risk-On/Start up tokens. Opinion: Downtrend could be breached and a TP for risk-reward seems appropriate. TP1 looks attractive. This is not intended or made to constitute any financial advice. Notes on how I personally use my charts/NFA: Each level L1-L3 and TP1-TP3 has a deployment percentage. The idea is to flag these levels so I can buy 11% at L1 , 28% at L2 and if L3 deploy 61% of assigned dry powder. The same in reverse goes for TP. TP1: 61%, TP2:28% and TP3:11%. If chart pivots between TP's, in-between or in Between Sell levels these percentages are still respected. I like to use the trading range to accumulate by using this tactic. Just my personal way of using this. This is not intended or made to constitute any financial advice. This is not intended or made to constitute any financial advice. FED Macro Situation Consideration: All TP's are drawn within the context of a return to FED neutral policy. I do not expect these levels to be reached before tightening is over. NOT INVESTMENT ADVICE I am not a financial advisor. The Content in this TradingView Idea is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained within this idea constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All Content on this idea post is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the idea/post constitutes professional and/or financial advice, nor does any information on the idea/post constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the idea/post before making any decisions based on such information.
Long
by TheBitcoinGeneration
ETH/USD Daily TA Neutral BullishETH/USD Daily neutral with a bullish bias. *After a small crypto rally over the weekend, the crypto market took a dip on Monday while stocks generally were positive; this is still not a decoupling because the stock market is closed over the weekend while the crypto market is not. Both crypto and stock market sentiment are ranging in Extreme Fear levels... this is typically when you want to be buying if you have a longer investment horizon.* Recommended ratio: 53% ETH, 47% cash. Price is currently forming a weak Descending Triangle (because it can also be a Bull Flag) as it tests $1941 support for an eleventh consecutive session; this is mildly bearish if it gets rejected by the upper trendline of the triangle. Volume remains moderately low and is currently on track to break the two day streak of buyer dominance if it closes today in the red. Parabolic SAR flips bearish at $1749, this margin is neutral at the moment. RSI is currently trending down and testing 36.91 resistance; if it can bounce here then it would be bullish (next resistance is at 55.31). Stochastic remains bullish and is currently trending up at 96.71 as it approaches a test of max top. MACD remains bullish after crossing over in yesterday's session, it is currently trending up at -216 as it approaches a retest of the descending trendline from 04/04/22 at -206. ADX is trending down slightly at 48 after making a soft peak at 51 as Price is defending $1941 major support; this is mildly bullish at the moment. If Price is able to break out of the descending triangle and close above $2144, then it will likely retest $2408 minor resistance before potentially heading higher. However, if Price breaks down here, it will most likely be a significant downturn to $1426 support and potentially lower. Mental Stop Loss: (two consecutive closes below) $1941.
COINBASE:ETHUSD
by dailytaguy
RVN the phoenix will rise, but first it will make a nest. RVN is a fundamentally good token, PoW concensus (Very energy consuming!), NFT ready and a fork of the original bitcoin code. In many ways its Bitcoin + a small degree of privacy and full NFT capabaility. I believe this token will one day be worth a lot as decentralized miners are pushed out of bitcoin by more established players. I expect to be able to trade L1-TP1 multiple times and estimate an Ichimoku strategy to be the best to bot this asset for the foreseable future :) Looking ripe for that side ways trend after the Pampu : rockets :
Long
by TheBitcoinGeneration
4
Decentraland (MANA) Launches its Desktop Client. How is it?Decentraland recently released its beta version of the desktop client - how does it look in its current state? From egamers.io: "Players will now experience performance enhancement upgrades with cleaner graphics, faster processing speeds, and improved stability by adding the client’s option. The client is only available for Windows in beta, with the developers welcome any feedback while more operating systems will come shortly." egamers.io The client allows for faster processing speeds, lower loading times, and opens up bigger possibilities for content creators to do things on the metaverse in ways that were previously not possible on browser-based platforms.
Long
by RyanTanaka