DXY - Looking to Big PictureWhen we look back, when Trump first came, Dxy showed a 5.5% increase, Dxy goes to 103.5. And Trump Dxy is too expensive, the dollar is too expensive, it should fall, the statements started. Then Dxy's 14% decrease went to 88.5. Now Dxy is around 102.
I bought it directly as a fractal from August 15, 2016. If Dxy comes to around 104 until the election, the rapid increase with Trump's arrival corresponds to 110s. It has been an expected area for a long time and when Trump Dxy is at 110s, similarly, if the decrease starts with him saying the dollar is too expensive, it goes to 94s, fractal.
Here, my hopes begin and I say that it is still expensive at those levels, we will go down to 86s. This means a 4-year never-ending mega bull.
I applied the same fractal to the euro, and the much-anticipated 1.02s are here again. If I can get a fund, I will look for swing shorts at 1.12s. The fractal and events looked pretty good to me. It also fit the channel nicely.
FX:EURUSD
Trump
TRUMP Coins : HIGH RISK !MEXC:BABYTRUMPUSDT MEXC:STRUMPUSDT BITMEX:BTRUMPT BITMART:TRUMPUSDT
Trump coins recently surged as Kamala Harris said she would appoint SEC Chair Gary Gensler as Treasury Secretary if she wins. To be perfectly clear, this post is NOT aimed at showing preference to either party - but rather taking a look at where trump-related altcoins could go next after the surge.
1) MAGAUSDT
📢Verdict - SHORT
👉Bearish M-Pattern after a 77% increase:
2) TRUMPUSDT
📢Verdict - UNDECISIVE
👉 Price playing sideways after a 62% increase:
3) BTRUMPTUSDT
📢Verdict - SHORT
👉 Price making lower highs and lower lowers after a 127% increase:
4) STRUMPUSDT
📢Verdict - SHORT
👉 Price in strong downtrend after a 64% increase:
5) BABYTRUMPUSDT
📢Verdict - SHORT
👉 Clear Top-Out, watch out for losing trendline:
Considering these are all MEME COINS - trade with extreme caution since they are very high risk trades.
_____________________________
4 Political Tensions Fueling Gold Prices As gold aims to test record high again, let's look at some of the political issues possibly driving the price action.
Iran Tensions Escalate:
The Pentagon has dispatched a guided missile submarine and a carrier strike group, to the Middle East. This move follows Iran's vow of retaliation against Israel after a senior Hamas leader was killed in Tehran last month. With nearly two weeks passing without a retaliation, the atmosphere remains tense.
US Political Landscape:
A recent New York Times/Siena poll places Vice President Kamala Harris, who is on a swing state tour, ahead of former President Donald Trump by four points in key battleground states, including Michigan, Wisconsin, and Pennsylvania. However, with nearly three months left until the election, the race remains fluid. Trump is set to appear in an interview with Elon Musk on the X platform, looking for a shift in momentum.
US Economic Concerns:
Bank of America CEO Brian Moynihan warned that U.S. consumers might become “dispirited” if the Federal Reserve delays interest rate cuts. He emphasized that once consumer sentiment turns negative, recovery becomes challenging. However, Moynihan acknowledged that Bank of America no longer anticipates a recession.
Ukraine’s Military Advance:
Ukraine’s top military commander reported control over 1,000 square kilometers of Russia’s neighboring Kursk region, with Russia evacuating over 76,000 residents from western Kursk. Russia is now evacuating residents from a second border region as Ukraine's surprise week-long offensive within Russian territory intensifies.
ADD DARK MAGA $DMAGA on to your WatchlistInteresting structure
and action on this S coin on #solana
Elon very briefly changed his X pfp to the dark maga colours
if thats all you need for a fundamental reason ... thta's a pretty good one
But on a technical level we have a higher low
let's see if it can break through that key level and form. large inverse head and shoulders
Dollar Strengthening and the coming election cycleUS Dollar will continue to ping pong between supply and demand during the election cycle. With other major economies like China's being Paper Tigers, the U.S. will by osmosis become stronger. As we learned years ago, nationalized tightly controlled markets don't work as well or at all. The CCP will try and buy gold and other assets to de-dollarize which will only work for so long to make the dollar look weaker than it actually is.
Trump's cabinet is largely ...less scientifically or mathematically inclined when it comes to policy. This will hurt the U.S. economy by increasing tax breaks for corpos and making it harder to maintain a healthy economy as wealth disparity increases. Despite Biden's less than stellar speaking skills, his policies reflect modern neoliberal globalist economic principles which tend to make America wealthier than other superpowers.
Overall, we should expect a hawkish trend despite the extreme propaganda machine telling you that the dollar is weakening. This is a great contrarian opportunity.
That is, if you think Biden will win the election. If not, get ready to look towards other assets like gold and Bitcoin.
BITCOIN - TRUMP ENDORSES BITCOIN AS US CRITICAL RESERVE - CM101BITCOIN / USD TA
To provide a technical analysis of Bitcoin based on the chart, let's focus on key elements such as trend lines, chart patterns, and Fibonacci retracement levels:
1. Fibonacci Retracement Levels:
- The Fibonacci retracement levels marked on the chart indicate significant price levels where Bitcoin may find support or resistance. We do not believe that we will see such levels any time soon though... These levels are:
- 0.236 at approximately $21,849
- 0.382 at approximately $27,207
- 0.5 at approximately $32,484
- 0.618 at approximately $38,784
- 0.786 at approximately $49,919
2. Chart Patterns:
- The chart shows a descending channel where Bitcoin has been consolidating.
- The breakout from this descending channel is crucial. The chart indicates a potential breakout to the upside.
3. Support and Resistance Levels:
- The immediate resistance level is around $68,846 (the previous high).
- There is support at approximately $62,500, which is indicated by the red line and the lower boundary of the descending channel.
- Further support levels are aligned with the Fibonacci retracement levels mentioned above.
4. Trend Analysis:
- The overall trend appears to be bullish as Bitcoin has been making higher highs and higher lows since the bottom in early 2023.
- The breakout from the descending channel could signal a continuation of this bullish trend.
5. Price Projections:
- If Bitcoin breaks above the $69,000 resistance level and sustains the momentum, the next major psychological level is around $77,000.
- In a highly bullish scenario, the price could target the $100,000 mark, as indicated by the green projection on the chart, by end of September as previously suggested.
6. Potential Bearish Scenario (Unlikely, but nothing is off the table):
- If Bitcoin fails to break out and falls below the $62,500 support level, it could retest lower Fibonacci levels. The first significant support in this scenario would be around $49,919 (0.786 Fibonacci level).
Summary
- Bullish Scenario: Breakout above $69,000 with targets at $77,000 and potentially $100,000.
- Bearish Scenario: Failure to break out and a drop below $62,500 with possible retests of $49,919 and lower Fibonacci levels.
Recommendations:
- For Bulls: Watch for a confirmed breakout above $69,000 before entering long positions.
- For Bears: Monitor the $62,500 support level closely for potential short opportunities if the price breaks down.
Not financial advice, just what we see playing out on the charts.
BITCOIN - TRUMP ENDORSES BITCOIN AS US CRITICAL RESERVE - CM101BITCOIN / USD TA
To provide a technical analysis of Bitcoin based on the chart, let's focus on key elements such as trend lines, chart patterns, and Fibonacci retracement levels:
1. Fibonacci Retracement Levels:
- The Fibonacci retracement levels marked on the chart indicate significant price levels where Bitcoin may find support or resistance. We do not believe that we will see such levels any time soon though... These levels are:
- 0.236 at approximately $21,849
- 0.382 at approximately $27,207
- 0.5 at approximately $32,484
- 0.618 at approximately $38,784
- 0.786 at approximately $49,919
2. Chart Patterns:
- The chart shows a descending channel where Bitcoin has been consolidating.
- The breakout from this descending channel is crucial. The chart indicates a potential breakout to the upside.
3. Support and Resistance Levels:
- The immediate resistance level is around $68,846 (the previous high).
- There is support at approximately $62,500, which is indicated by the red line and the lower boundary of the descending channel.
- Further support levels are aligned with the Fibonacci retracement levels mentioned above.
4. Trend Analysis:
- The overall trend appears to be bullish as Bitcoin has been making higher highs and higher lows since the bottom in early 2023.
- The breakout from the descending channel could signal a continuation of this bullish trend.
5. Price Projections:
- If Bitcoin breaks above the $69,000 resistance level and sustains the momentum, the next major psychological level is around $77,000.
- In a highly bullish scenario, the price could target the $100,000 mark, as indicated by the green projection on the chart, by end of September as previously suggested.
6. Potential Bearish Scenario (Unlikely, but nothing is off the table):
- If Bitcoin fails to break out and falls below the $62,500 support level, it could retest lower Fibonacci levels. The first significant support in this scenario would be around $49,919 (0.786 Fibonacci level).
Summary
- Bullish Scenario: Breakout above $69,000 with targets at $77,000 and potentially $100,000.
- Bearish Scenario: Failure to break out and a drop below $62,500 with possible retests of $49,919 and lower Fibonacci levels.
Recommendations:
- For Bulls: Watch for a confirmed breakout above $69,000 before entering long positions.
- For Bears: Monitor the $62,500 support level closely for potential short opportunities if the price breaks down.
Not financial advice, just what we see playing out on the charts.
Bitcoin – We Are In July 2016, In July 2024Just look at what the market looked like in July 2016, before the US election. As it did in the first half of 2016, Bitcoin has moved the same way over the year 2024 so far. That means if Donald is elected again we are up bigly running to April next year and then up hugely running to the end of 2025. We will all get very rich but it won't matter anyway because society will become very unstable. But you will enjoy great wealth in the meantime, enjoy!
Democrats Return to the Election Battle with Harris!Democrats Return to the Election Battle with Harris! Financial Markets Confused!
Kamala Harris, with the support of 68% of Democrats, is closer to competing against Trump.
The Vice President of the United States, Kamala Harris, has surpassed the necessary support threshold to secure the Democratic Party's presidential nomination. This positions her as the likely candidate from the Democratic Party to compete against the Republican nominee, Donald Trump.
While it seemed the Democrats were nearing the end of their journey and with Biden's withdrawal it was expected that the road would be clear for the Republicans, Harris's candidacy has created new challenges for the crypto market.
It is now difficult to predict whether Trump will win the upcoming US election, as Harris could secure the votes of African Americans and women. Additionally, it seems some people who did not want to choose between Trump and Biden now have a new candidate to vote for.
With all these issues, it seems the crypto market has lost the excitement of Trump's potential presidency and is pricing current events with a sense of confusion!
Technical Analysis of Bitcoin
Bitcoin, after reaching $68,500 and creating a double top at this level, has returned to $66,500.
The presence of negative divergence and the uncertainty of Trump's victory due to Harris's nomination by the Democrats are market risks, while the launch of Ethereum ETFs is a positive market event today.
Losing $66,500 could lead to further decline to $63,800 and $62,500.
ETH ETFs to Follow Bitcoin's Footsteps?
ETH/USD is expected to experience increased volatility this week, with spot Ethereum ETFs set to go live on Tuesday, according to Bloomberg. The Securities and Exchange Commission (SEC) is poised to finalize updates on the products today.
Ethereum ETFs follow the path of eleven trading spot Bitcoin ETFs, which have amassed over $54 billion in assets under management since their January debut. Bitcoin has surged 47% this year.
Demand for the ETH ETF funds are projected to be 20% that of the spot Bitcoin ETFs, according to Bloomberg analyst James Seyffart. Meanwhile, the Bitcoin 2024 Conference will commence on July 25, featuring Republican nominee Donald Trump, who is set to discuss a potential US Bitcoin strategy. Speculation is rife that Trump may announce the creation of a U.S. Bitcoin strategic reserve during his highly anticipated appearance.
David Bailey, the organizer of the Bitcoin 2024 conference has also hinted that Tesla CEO Elon Musk could make a surprise appearance at the event. Musk recently updated his X profile picture to feature laser eyes, a symbol among bitcoin and crypto enthusiasts as noted by Michael Saylor, founder of bitcoin-buying software company MicroStrategy, alongside a screenshot of Musk's new profile picture.
Bitcoin Bull Run Starts Now! - $500K Target?The Bitcoin bull run has officially started. Here is a fractal showing the last bull run and in my opinion, it lines up very well when coupled with Fibonacci retracement. This is macro timeframe, so these moves could take as long as 2026 to finish coming to fruition. Enjoy.
After Joe Biden's Withdrawal, Where is Bitcoin Headed?
Following Joe Biden's withdrawal from the election race, Bitcoin experienced a 3% swing within a 4-hour candle, reaching a low of $65,800 before finding support. With global markets closed, it's still too early to predict a definitive direction for Bitcoin. However, in such situations, uncertainty about the future typically leads to risk aversion and a decline in assets like Bitcoin.
If the market perceives Biden's withdrawal as increasing the likelihood of Trump's victory in the upcoming election, Bitcoin could adopt a bullish stance. Given that retail traders hold the smallest share of Bitcoin trades in the last three years, it remains to be seen whether institutional investors and ETFs will continue to support Bitcoin's price when global markets open tomorrow. If uncertainty persists, it could lead to a price drop that may continue until a new Democratic candidate is chosen.
#TRU/USDT#TRU
The price is moving within a bearish channel pattern on the 12-hour frame, which is a strong retracement pattern and was broken to the upside.
We have a bounce from a major support area in green at 0.0900
We have a tendency to stabilize above the Moving Average 100
We have a downtrend on the RSI indicator that supports the rise and gives greater momentum, and the price is based on it to rise after it was broken upward.
Entry price is 0.1250
The first target is 0.1800
The second target is 0.2100
The third goal is 0.2472
Wait to scale-in at the edge of box of 4H chartTrump is lenient towards cryptocurrencies, and recently, due to Trump, there has been a significant surge, including Bitcoin.
The daily chart seems to indicate a rebound for several more days. The 4-hour chart shows a consolidation within a range, with a high probability of a future upward breakout. The entry point could be at the bottom of the range if it breaks the support, or upon breaking through the top resistance of the range.
Bitcoin Surges after Donald Trump Assassination AttemptMarket Update - July 19, 2024
Bitcoin Rallied Amid Renewed Volatility Linked to Trump's Election Prospects
Mt. Gox Moves SEED_TVCODER77_ETHBTCDATA:9B in Bitcoin Ahead of Creditor Repayments
Investors Hedge Positions as US Spot ETH ETFs Near Launch
Coinbase Shifts Strategy for Gary Gensler Subpoena
Hong Kong to Release Stablecoin Consultation Results
Bitcoin Rallied Amid Renewed Volatility Linked to Trump's Election Prospects
Following an attempt on the life of Donald Trump on Saturday, crypto assets linked to the US Republican candidate’s chances of winning the November 4 election experienced increased volatility. Bitcoin surged by around 7% as the candidate's probability of winning rose to 70% on popular prediction market Polymarket.
After the event, Bitcoin broke above the crucial 200-day simple moving average (SMA), indicating a positive long-term trend. Additionally, Trump-themed Polifi tokens also surged on news of the attack. Recently, Trump has embraced crypto and been pictured with various high-profile figures, seeking a comparatively friendlier regulatory environment than the one President Biden has overseen. Consequently, some have viewed Bitcoin and the broader crypto market as bets on Trump's victory.
Trump’s selection of JD Vance as his vice presidential candidate was also seen as a positive choice for crypto. A former venture capitalist, the Ohio Republican has been supportive of the crypto industry and criticized the SEC for what he perceives to be regulatory overreach. Last year, Vance, along with other Republican lawmakers, sent a letter to SEC Chair Gary Gensler expressing concerns about its lawsuit against crypto company DEBT Box. Vance is also believed to personally hold more than $100k worth of bitcoin.
⛏️ Topic of the Week: How to Mine Crypto
➡️ Read more here
EUR/USD: Biden Replacement and ECB Decision Loom Political uncertainty in the U.S. could significantly impact the EUR/USD as markets brace for tomorrow’s ECB decision. The major political factor may not if President Biden steps down, but who steps up to take his place. Who will the markets like and who will they dislike? This could play out in the EUR/USD.
Biden has said he will reevaluate his candidacy if advised by doctors due to health concerns, possibly setting the stage for his withdrawal from the presidential race. Notably, Democratic Representative Adam Schiff (California) is the latest major figure to urge Biden to step aside as the Democratic nominee for president.
Turning to the more traditional economic event, ING forecasts that the EUR/USD is more likely to hit 1.08 rather than 1.10 following tomorrow’s ECB meeting. The tip of the very clean and tight channel the pair has traveled in since June might suggest resistance at 1.0965.
The European Central Bank is expected to maintain rates steady, a month after its first rate cut in five years. A recent Reuters poll revealed analysts anticipate two additional 0.25 percentage point rate cuts this year, slated for September and December.
Wait... Bitcoin handle of a CUP??? All new @TradingView tool which auto-detects the Cup & Handle Pattern.
So on the weekly time frame....
See for yourself!
I often post educational content and share info on the latest indicators and tools. Here on Tradingview, we can see this form on the weekly with an upside target to around $127,000.
You heard it here first ;-)
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe. (Definitely don't take this as advice)
DXY H4 - Long Signal DXY H4
Again, nothing too significant to report at the moment, whilst we are hugging 104.00 we remain bullish bias, it's as simple as that. DXY correlates primarily and fundamentally with FX rather than XAUUSD commodities. But we can still use for comparisons and indications.
Hopefully this 104 level holds as anticipated support to warrant GBPUSD rejections as previously shared.
Trump, Fed Speculation Drive Gold to New Heights Trump, Fed Speculation Drive Gold to New Heights
Gold price cleared the May 20 high of $2450 on Tuesday, as expectations intensify that the U.S. Federal Reserve will commence an easing cycle in September. Fed Chair Jerome Powell addressed the Economic Club of Washington this week, noting the economy's solid performance and signaling potential rate cuts once inflation trends towards the 2% target.
The CME FedWatch Tool indicates near-certain odds of a 25-basis point rate cut in September, with many forecasting a total of 50 basis points in cuts through 2024. But one has to question the accuracy of these optimistic predictions. The next FOMC meeting is in 14 days.
Adding to the upward momentum on gold is the potential election of former President Donald Trump in November. Trump's proposed policies, including tariff hikes and tax cuts, are anticipated to increase the U.S. budget deficit and spur inflationary pressures.
Bullish momentum in gold appears intact, supported by the Relative Strength Index (RSI) on the daily chart. Although it is trending higher and approaching typical overbought conditions.
DXY: Deep Dive Analysis And Its Impact on Other Assets✨Welcome to my channel. Here, we conduct a daily analysis of crypto projects and forex pairs.
📅 Today's Analysis : Today, we'll be diving into the Forex market and analyzing the DXY index.
🔄 Previous Analysis Recap : In our last analysis, we reviewed this index in the weekly and monthly timeframes, incorporating fundamental analysis based on US interest rates and economic conditions. We noted that if support at 100.883 is broken, the price might start a downward movement. Today, we'll delve into the weekly, daily, and 4-hour timeframes to examine the smaller cycles and waves of this index.
📰 News Overview : Let's start with significant US news. The most noteworthy event is the incident involving Donald Trump, the Republican representative, who luckily survived. This incident has swayed many votes towards Trump, and positive discussions about him are trending on social media. This happened on a Sunday, so its impact on the Forex market was limited, but it immediately influenced the crypto market. Given Trump's support for crypto, Bitcoin saw a 2% upward candle and continued a short-term upward trend.
On the other hand, the situation for Democrats isn't looking good. Joe Biden, their representative, seems unlikely to win based on his debate performances. The general sentiment on social media favors Trump, and with the power of media, it seems likely that Trump will be the next US president. If Trump wins, we might see growth in the crypto market due to his supportive stance.
📅 Weekly Timeframe [/b
In this timeframe, after a significant price rise, the correction began, and the price dropped from the 113.305 peak to the 0.5 Fibonacci level at 100.883. It has since formed a long-term range between 100.883 and 106.630 since late 2022. Within this range, there's a symmetrical triangle pattern, and we are in the last third of the triangle with reduced price fluctuations between 104.039 and 106.121.
🎯 If the price gains downward momentum, our target can be 100.883. If it breaks the 106.121 resistance, the price will enter a strong supply zone between 106.121 and 106.630. For more details on this zone, we should move to the daily timeframe.
📅 Daily Timeframe
In this timeframe, I've adjusted the support and resistance levels for more precision. The supply zone between 106.338 and 107.017 is crucial because the price faked out below the trendline once and bounced back up from the 100.883 static support, indicating a strong upward trend. However, it failed to penetrate this supply zone and was rejected at 106.338 without reaching the main resistance at 107.017.
📉 Last week's candle closed below the trendline, but I don't consider this breakout valid yet as it could be another fake-out, with the price bouncing from the nearest support and resuming its upward movement. I'll wait to see if the 104.039 support holds before confirming the trendline break. If this support breaks and the price stabilizes below it, a downward wave may begin, targeting 102.668 and then 100.883.
📈 If the price bounces back up from 104.039, the nearest resistance is at 106.338, a very strong supply zone.
🧩 Given the fundamental conditions and the break of 38.71 support in the RSI oscillator, a price decline seems more likely, but nothing is certain. If I see bullish signs and confirmations according to my trading strategy, I will adjust my view. The market is always changing, and one should not be biased towards a previous analysis.
📅 4-Hour Timeframe: This timeframe is too noisy for detailed analysis, so I'll focus on triggers and key points.
📈 If the price stabilizes above 104.524 and forms a higher high and low, we might see a Failure Swing pattern, indicating a trend change per Dow Theory. If this pattern completes, we can consider the market bullish in the 4-hour timeframe. Breaking the 50 level in RSI could provide additional confirmation.
⚡️ Next resistances are 105.162 and 106.121.
📉 For a bearish scenario, the 4-hour trigger aligns with the daily, and a break below 104.039 would suggest a downward move.
🔍 Let's look at the DXY's impact on Gold and Bitcoin.
👑 Bitcoin Analysis
If the USD strengthens, Bitcoin might see another correction wave to the 56k and 47k levels. If the USD weakens, new ATHs for Bitcoin could be on the horizon.
🧲 Given Bitcoin's strong upward momentum and the visible curved trendline, we can target 130k for Bitcoin if the USD's value drops.
🥇 Gold Analysis
Gold has significant upward momentum and is currently recording new ATHs. If the DXY declines further, gold could target $2800.
🔑If the DXY strengthens, gold might correct to around $2000, but this seems unlikely as gold typically has minor corrections and maintains a long-term upward trend.
⚠️Please note that this is not financial advice. I'm simply introducing this project to you, and remember always to do your own research.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.