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#ALT Market : Market Needs A Correction For Good. #Market_Update
#ALT / #BTC
The overall crypto market cap chart excluding #Bitcoin is also showing a hint that we might see a correction sooner or later for the sake of overall economical market theory and general human behavior. By this we have been in a rush for a bull run starting from the last month of 2020 till the end of last week. It started to show a bearish sign by its indicators and already passed the 1% Fib level of the 2017 surge of the crypto currency market. But by saying this we are not concluding that the bull run is confirmed to be bearish at this point since we have to see some more factors as indications for the confirmation.
Indicators :
MACD : is still above the signal line which we might see a fall for a correction soon especially because of Bitcoin's dominance on the market.
Volume : Is fairly in good position though since we are still having more institutional money coming in to the market by which we have seen Bitcoin surpassing $1.5 Trillion USD last weekend. But we still needs some push ups to the upward side if we are aiming to see Bitcoin further to go a leg up towards the next resistance areas. But it seems unlikely that institutional traders might take a step back and stay to get into the market while Bitcoin corrects.
RSI : is at around 80 with an overbought sentiment. We still need some potential fundamental analysis for our RSI stability though.
Note : This is just an insight for the market and we would like to say that we are not still at the position to conclude our next move since we got to see the weekly chart closed for the next move. We will give updates on the market for more though.
With Regards.
#TeamTWA.
@togetherweaccumulate
WHAT HAPPEND WITH THE PRICE OF ? ( TUI1 ) 3 weeks ago I uploaded a trading idea of TUI1 discussing the likelihood of a potential breakout.
First, I would like to give out my apologies, I have not shared enough information involving this trade which could have led to a lot of confusion.
What really happend
On the 7'th of January TUI Publicly announced the agreement and approval of a capital restructuring plan,
Including the dilution of 508,978,534 new shares among existing shareholders,
offering 25 new shares for every 29 existing ones at 1.07 euros each.
With this share dilution, TUI was able to raise over 500 million Euros resetting the price from 4.65 to 3.32 a share.
Everybody who held TUI at the time of the share dilution has the ability to sign up until the 20th of january.
The New Shares will be distributed on the 29th of January.
I hope this clarifies the whole situation around TUI,
Wish yall an amazing start of 2021
And like to see you again
CAD/JPY Possible bullish continuation. As I look at CAD/JPY I'm noticing higher highs and higher lows on the 4hr chart.
I drew a bullish channel and I'm anticipating for more upward movement to the 81.500 and 82.000 level.
If it breaks below the channel and below the support level 80.500 I'll be looking for a possible reversal.
Cineworld - 5% on the sell and 5% on the BUYA big move today for Cineworld.
I checked lse.co.uk this morning and saw the daily % gain, guess what - our strategy had already signalled the buy.
This is a very powerful tool for investing or cfd trading stocks too.
Regards
Darren
Mahindra & Mahindra Fin Ser - Potential 100% gain in 3 monthsEconomic Indicator - Rural Economy is in uptick mode in India and not impacted by covid as estimated by experts.
Policy Indiactor - RBI stepped in and provided liquidity as needed
fundamentals - 40 to 50% undervalued. less than 10% moratorium.
Technical - see the charts
market trend - Bajaj Finance and other fin companies reverting to mean as market understanding less impact of covid and open up economy.
stock is beaten down and less probability to fall further.
Summary - Long on Stock till stock price hits 350.
Disclaimer - this is not investment advise, neither I take any responsibility of your losses if incurs due to market situation.
when to Buy Eur/usd 1h in bearish trend ?After the price break the support level of the Symmetrical Triangle ,the price retested going back to the ex-support level and continued the bearish movement , what i look into now is a congestion price range before go on the bearish movement , and the stocastico still in overbought and its about to cross and getting out of the overbought zone,another confirmation is the body of the candlestick of 1h time frame , it's noticeable the following doji candlesticks that reflect the weaknesses of the bearish movement ,conclusion we will have a small bullish movement (it will be a congestion pattern) before the price keep pushing down,for scalper can enter a long position but me as swing trader i will keep my short position open.
Note :i share my opinion with other traders to have many ideas as possible so they will be able to predict the next price action,so please don't open any position based on what i post, share with my your analysis to grow together .
Bitcoin and Altcoins battle for marketshareOn the left, we have the Altcoin market cap vs the Bitcoin dominance chart on the right. We are looking at a possible reversal with the alts as we approach the 77 Billion dollar mark and Bitcoin's drop to 62.72 dominance. As we get closer to the Bitcoin halving I believe we could see Bitcoin bounce from this fib line at 62 and trend higher as bigger money starts to accumulate more Bitcoin. Once we move higher to the 68 level in Bitcoin dominance then we will top out with Bitcoin and head lower to the 57 mark. At this point, Altcoins will have hit their low at the next fib line of
$50 billion and head higher and from this point, I believe Altcoins will not look back as Bitcoin slowly gives market share to its cousins and nephews in the Alts.
GBPJPY LONG TERM BUY, SHORT TERM SELL As you can see it is going to break through its resistance trend line and eventually shoot bullish. In the meantime its going to retest support levels once or twice as a short term sell. Long term looks like its going to break through as you can see that there are strong buyers in the market. Comment & Like for ideas.
EURUSD: impatient long scenarioI think aggressive buys can start above 1.1095.. however for EUR bulls and for those who are playing with thought that we are going to see that level, entering the market between 1.104-1.1008 price zone with 1.112 T/P provides decent R:R (at least 2.5).
Keep in mind that this idea might be realized in several days and opening long position in EURUSD results negative swap.
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