The TradingView Digest - February 20thHey everyone! Welcome back to the TradingView Weekly Digest. In today’s edition, we’re highlighting the top posts from our community, which includes an informative post about Apple’s valuation, a strategy for trading opening range breakout, a hot script on Ichimoku Oscillator, and all the latest headlines, earnings, and economic events.
💡 Apple’s Valuation
When we look at Apple historically, the valuation is higher than average, with lower than average sales growth. Compare today's prices to the low prices of 2013, 2016, and 2018/2019, and you can see that you could buy Apple at 2.13, 2.20, and 2.68 times sales, with sales growing at sharply higher rates compared to now, where sales are growing at the slowest rate and reaching a peak valuation at 8.02 times sales.
By timwest
💡 Timely Opening Range Breakout Strategy
Open Range Breakout (ORB) is a simple strategy that day traders use in relatively low-volatility markets. The Opening Range usually refers to the highest and lowest prices within the first 15 to 60 minutes of the market opening. These levels then serve as your resistance and support, guiding your trading plan for the day.
By Zeiierman
📰 Top Stories
Coinbase Stock Pops 14% on First Quarterly Profit Since 2021 as Trading Picks Up
Blackrock’s Bitcoin ETF Holdings Near 110K BTC
Why high-yield bond ETFs may deliver 'surprise' outperformance in fixed income in 2024
Microsoft's $3.44B German AI Investment
UK Records Biggest Monthly Retail Sales Rise Since April 2021
💵 Earnings highlights from the previous week:
Eni Earnings Fall on Lower Energy Prices
Alliant Energy's Q4 Earnings Rise, Revenue Falls; 2024 Outlook Maintained
Airbus Posts Lower FY23 Net Income; Revenue Grows
IAMGOLD Corp reports results for the quarter ended in December
Schneider Electric Reports Growth in FY23 Net Income, Revenue
💡🎥 Thoughts and Analysis on US30
What a solid run we have seen until the CPI data! After the US CPI came in hotter than expected, it shocked the market, leading to heavy selling on stock indexes and risk currencies with a flight to safety (USD). Is this merely a buying opportunity, or could it signal a potential momentum change? Watch the video to find out.
By Eightcap
🆕 TradingView and Coin Metrics: New Era in Crypto Asset Analysis
Coin Metrics, renowned in crypto financial intelligence, has now integrated its dataset into the TradingView platform. Coin Metrics brings robust data on crypto networks, enriching the decisions of traders and investors with accurate information. Through this partnership, over 50 million TradingView users now have access to even more detailed and comprehensive information to analyze crypto assets.
By TradingView
🌟 Script of the Week
📜 Ichimoku Oscillator
This script utilizes various Ichimoku Cloud features to identify trend and potential entry/exit levels.
By LonesomeTheBlue
💭 Our Weekly Thought:
“There is never a rush to buy or sell.”
We hope you found this helpful. Please share your feedback, comments, or suggestions with us in the comments below.
TradingView Team
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Stories
The Crypto Battle Royal Draws to a ConclusionThis story about crypto started about 2 years ago.
It starts with an idea about why Blackouts in Xinjiang were linked to crypto problems in China.
The idea was that bitcoin was going to solve inequality and be free from government manipulation.
What could be more opposite to what China wants.
The cost? A surge in energy and semiconductor demand unlike anything thought possible at the time.
China gave us the first indication the cost was to much to sustain and exited the ring for who would control bitcoin.
The next to leave the ring were popular dollar pegs.
It wasn't long before wall street got involved in the fight by taking Coinbase public along with ETFs and enough dumb money to bankrupt a country.
I stood up on my soapbox (Trading View ❤️) and shouted what I knew to be inevitable.
But at the time, nobody was listening. The stock market and crypto went into a spiral downward in harmonic correlation.
Finally after 2 years and several criminal masterminds identified by MSM.
translation = SBF is about as solely responsible for crypto collapse as Madoff was or Kareem Serageldin.
I thought this story would end with Bitcoin dying completely.
But then I noticed players like TastyTrades stepping into crypto ring and thought to myself maybe there is a chapter 2 to this story.
I think there is a lot more legitimacy to digital currency now that players like TastyTrades are entering at this particular time.
I could be wrong on this one, but I'm leaning risk on by buying Coinbase here.
Feel free to leave hate mail below in the comments 👇👇
PART 1 FAILED UPLOAD- This is a Short Part 2. ALT TALKIn the beginning of this video i explain this is a run on to a previous video which load failed due to trying to record a second video whilethe first was uploading. SMDH for trying to be efficient.
I'll do the first part of this video today after work. Sometime before 8pm Eastern time.
Enjoy some alt talk. coin talk. and references from the first video that wont make sense in this one. lmao
Key phrase.
DON'T FLY TOO CLOSE TO THE SUN.
First Video incoming tonight!
Thanks!
happy trading.
Basics Part II: Break the spring or make it stronger.In economics courses a lot of professors take the approach of telling stories. For instance, why does a supply or demand curve shift. Country X makes dingle fops, the main material used is copper; but country Y now makes whirly jigs so now copper costs more. Supply cost goes up. Demand stays the same but the supply of materials changes, so now the cost goes up because the supply can't meet the demand. You get the idea.
In the next couple of days we meet a long term trend crossroads. Where the converging lines meet something is going to happen. I will be the first to admit, I am not the greatest in analyzing charts. I am not sure whether or not the price is going down or up. I don't even know at what rate this change is going to happen. But what I am good at is looking at a big picture and connecting the dots. So let me tell you two stories.
Story one: A stronger spring. Bitcoin is still being mined hence the supply keeps increasing. However, unlike a normal commodity the supply is being halved over a longer period of time. So over time you could say the supply is decreasing. The demand for Bitcoin comes in waves however so there is a fluctuation in the price. (As we see every day with rising and falling prices) Low volume means that coins aren't being bought or sold as fast, but as long as people keep buying the price due to demand can't fall below a certain point. With a value added product, the price also keeps increasing. With each improvement, value is added to the coin, but only when people find it useful. Since Bitcoin was created, very few people have found it less valuable than before. Also we see exponential growth of new funds entering the space. Therefore we have always seen an overall upward trend in the cost.
Story two: Break the spring. Bitcoin is still being mined and despite the cost miners are okay with losing money. The supply keeps increasing but the demand goes down. People lose interest so weak hands sell first, strong hands stay the course for a bit, tried and true HODLers also lose faith and take their money out of the equation last or lose it completely. Now there are hundreds of thousands of mining rigs that have no purpose and all the while supply keeps growing but the demand drops completely off the charts. In this case, this is how we see a fall way way down the rabbit hole and never recovers.
Now in both cases there are obvious reasons that bitcoin could go up or down. What then becomes more likely? The supply now is created much slower than during the first years of inception. Secondly, institutional money is ever on the cusp of entering the market. My speculation is that they are doing it on the down low as to get the best prices possible. So other than market sentiment what would possibly drive bitcoin down to a new low? Answer this mathematically for yourself and you'll have your proof of what bears say. Now you can also on the other hand look at when you think the next flood of money will come into the space and plan your exit point at the end of the run.
Now what are the dots? Money supply, time, mentality, growth, adoption, sentiment, use case, supply, demand, and added value. Arrange correctly and at your own risk because you might not like what you find.
